Credit Cards

[thankfulheart]

I understand that some CCs want proof of income, but I have income that is neither taxable nor on my paycheck (child support/promissory note).  How do I account for that when requested, send copies of the documents?

[pozativelyliving]

Court order for child support paperwork or your online statement from DOR if he has to pay it to the state and then you receive it. That might help.

[Kennie02]

I had to prove income for Discover. They said I could send in bank statements that showed the deposits made into my account and that would be fine. 

[pozativelyliving]

I don't think creditors check on income much. I've never had one call to verify the income or even employment for an employee.

[john398]

I had to verify income with my Credit Union card

[Revelate]

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pozativelyliving wrote:

I don't think creditors check on income much. I've never had one call to verify the income or even employment for an employee.

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Actually they do in some fashion; even if they don't require initial verification, they absolutely check your spending pattern on your credit report and on their own card, and if it runs out of whack, they most certainly will ask for supporting documentation... or otherwise just smack you with some form of AA.

Similar to the other poster, a CU I'm a member of wanted income verification card, so it's not just mortgages and auto loans.

[HenryJumbo]

I don't think it matters if you are getting childsupport money from a court ordered or a personal agreement you don't include it in the annual income. I'm going from memory here so please double check what I say. Go to a card that you want to apply for and check the appliction form. Don't worry you don't have to submit any information. Just look where it says annual income or household income. Depending on the appliction it might state 'excluding childsupport,' as childsupport is not really thought of as income.

And being a good mommy you spend ALL the childsupport on the child.

Also If you put it as income anyway you'll have to cross your fingers that one day they won't tag you for review. Also if you are getting divorce or going to court what you put on your credit card application can be used against you if they want to do a full check on your assets. The case can always be made that you are hiding money or assets.

[Koop10010]

I don't see why child support shouldn't be countable.  I think applications usually say that you don't have to count it if you don't want to, not that you can't.  Yes, you should be using it all for the child, but that doesn't mean you can't use it through a credit card.

[pozativelyliving]

Child support seems to be looked at differently. For example, the person that pays it has to pay taxes on the money he (and sometimes she) makes and pays as CS while the person who receives it doesn't have to pay taxes on the money that they receive. 

[Crashem]

You should include all income including child support etc.  some apps ask you to break itdown.  Some don't.  As long as you can demonstrate income I would include it.  Even with Amex fr, they will take other documents outside of tax transcript.