Large change in income, what to do?

Anonymous · ‎04-27-2016

So between my wife and I we have around 15 different credit card accounts and currently have an income of about $250k. My wife will be quitting her job to stay at home with our new son shortly and she makes $100k. Do I need to report any of this to my cc companies or just wait and see if they ask? Also if they do ask and all of a sudden my income drops from $250-150k is there gonna be serious AA. Our current overall available credit is around $200k and we both have ~780-800 scores with zero negative info.

kdm31091 · ‎04-27-2016

I doubt anything will happen unless you charge more than you can pay.

I'd just leave it alone, unless they ask for an update.

DoroLucky · ‎04-27-2016

I agree with KDM, just leave it alone until you're asked and have to explain.

TCL= $172,800
6-7-16: EQ 683 EX 713 TU 715
10-12-16 EQ 685 EX 706 TU 702 12-19-16 EQ 683 EX 704 TU 701 and CHILLING ON ICE...BRRRRR!
In the garden as of 6-7-16, I've been really really BADDDDD

creditguy · ‎04-27-2016

Let lying dogs lie and don't poke bears. If asked for updates then by all means be honest and when applying for new credit of course by all means be honest, but if your paying your bills and being a good cardholder then they don't care so leave it be.

Anonymous · ‎04-27-2016

I read on one of my banks websites that they won't do a CLD based on income alone. Don't know if other banks have similar policies but I imagine they do. As long as you are still making decent payments before the due date I think you will be ok.