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New Contributor
WJL
Posts: 51
Registered: ‎06-21-2010

Job Title & Salary Information on Credit Card Application

Does the job title that you list on a credit card application have any real impact on getting approved? Same quesiton goes for the salary. Thanks!

PFCU Platinum Rewards Visa Signature $16,500 | Discover it $9,500 | AMEX Zinc NPSL | AMEX BCE $9,000 | Chase Freedom $9,000 | BankAmericard Cash Rewards $6,500 | barclaycard $5,000 | Orchard/Capital One $1,000 | Macy's $1,200
Valued Contributor
armbenderc
Posts: 1,339
Registered: ‎09-11-2012

Re: Job Title & Salary Information on Credit Card Application

Salary yes. Job title no.
2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Established Contributor
flowfaster
Posts: 787
Registered: ‎08-30-2011

Re: Job Title & Salary Information on Credit Card Application

IMO they just use the job title as a security question sometimes.  Salary information on the other hand is one of the most important things lenders consider when you apply.

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Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011

Re: Job Title & Salary Information on Credit Card Application


WJL wrote:

Does the job title that you list on a credit card application have any real impact on getting approved? Same quesiton goes for the salary. Thanks!


  Your credit score, credit history and recent inquiries will be given the most weight.  Your salary will be taken under consideration as well but your job title won't carry any weight IMO.

New Contributor
WJL
Posts: 51
Registered: ‎06-21-2010

Re: Job Title & Salary Information on Credit Card Application

Thank you everybody! In regards to recent inquiries, would they look at the number of inquiries, type of inquiries or both?
PFCU Platinum Rewards Visa Signature $16,500 | Discover it $9,500 | AMEX Zinc NPSL | AMEX BCE $9,000 | Chase Freedom $9,000 | BankAmericard Cash Rewards $6,500 | barclaycard $5,000 | Orchard/Capital One $1,000 | Macy's $1,200
Established Contributor
Cageym
Posts: 507
Registered: ‎07-31-2012

Re: Job Title & Salary Information on Credit Card Application

And the salary is gross pay, not net. I always have to explain that since I work overseas they are almost the same thing.


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Established Contributor
compassion101
Posts: 559
Registered: ‎06-06-2012

Re: Job Title & Salary Information on Credit Card Application

Nobody has ever checked on my stated salary that I know of. What would keep someone from exagerating their salary by a large amount? I know AMEX sometimes checks but others it seems they never do. That's why I alwaysa have figured that income has less to do with most decisions than we think.

Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012

Re: Job Title & Salary Information on Credit Card Application


compassion101 wrote:

Nobody has ever checked on my stated salary that I know of. What would keep someone from exagerating their salary by a large amount? I know AMEX sometimes checks but others it seems they never do. That's why I alwaysa have figured that income has less to do with most decisions than we think.


Sometimes lenders will ask for your paystubs, or in Amex's case they'll demand your 4506-T via a FR. However once you become more established, your current CLs will likely reflect your income. For example my Chase United card has a 25k limit. If I applied for a new CItibank card and they see that, they can reasonably assume that my income is fairly high (given Chase is a conservative lender). If my highest CL was 3k and I claimed my income was 500k, that would raise some red flags. This is why your existing CLs play into what you get when you apply for new credit.
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Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Job Title & Salary Information on Credit Card Application

Job title can impact job security. The higher you are on the totem pole; the more likely you are to be let go.

An executive has a less stable job than a janitor.

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Shogun
Posts: 12,874
Registered: ‎04-15-2011

Re: Job Title & Salary Information on Credit Card Application


webhopper wrote:
Job title can impact job security. The higher you are on the totem pole; the more likely you are to be let go.

An executive has a less stable job than a janitor.

I like that one!


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