Income?

[CreditCuriosity]

Ugh this topic again.. My take is you file together or have a domestic partnership then include household income otherwise use just your income.  Some lenders say Amex can do a FR on you and ask for tax returns and they only want yours or ones you filed jointly.  Each lender is different and you are going to get it is ok to use parents income and every other answer under the sun.  Juse use your common sense and if you feel it is shady then most likely it is.  Just my take on it.

[Anonymous]

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@Anonymous wrote:

Hi all,

I am interested in at some point apping for prime cards like amex and chase, i was wondering if i can include all household income in the application or just my own personal income. 

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Although the apps ask for household income, because my BF and I file separate returns, I always use my income on the applications even though I use his income to pay the majority of the bills. 

[Anonymous]

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@Anonymous wrote:

your credit report should have your employment information as well as income information.

credit card companies have their model to calculate personal income because what you write/type can be inaccurate 

(say you enter $100k income when you only have $50k income, they should have way to verify because it can bring huge loss)

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Absolutely wrong.  Your credit report does not and should not contain any income information, ever.  It is a credit report, it is about how you handle credit.  It has nothing to do with income or assets.  Credit reporting agencies do have reported to them, nor can ever report, income information.

Chris.

[Anonymous]

Chris,

that's why I wrote "modeled income" which is not an actual income. 

when we hard pull, report contains more than just credit score & payment history, it has 300+ variables  

and we use that data to calculate personal income(of course we also use monthly payment on creditcard/loan/mortgage to see if lender make payment on time).