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Question about reporting income for graduating grad student

Contributor

Question about reporting income for graduating grad student

So I'm in my last semester of a professional school, and will be starting work full-time in the fall with an annual salary of around 150k.  Should I list that as annual income on a credit card app?  For the apps I had in 2011, I simply listed the salary I made in the summer internship with the employer (around 34k).  But now that it's actually the year I will be starting work, I'd like to list the higher income so I could get better limits.

Chase Sapphire Preferred - 5.6k (3/13) | Amex Premier Rewards Gold - NPSL (1/13) | Chase United MileagePlus Explorer Visa Signature - 9k (1/13) | Amex Delta Gold - 6k (9/12) | Citi Forward Visa - 10k (10/12) | Discover It - 2k (2/12) | Chase +1 Visa - $300 (2/11)
Message 1 of 9
8 REPLIES
Frequent Contributor

Re: Question about reporting income for graduating grad student

i would wait until i got the full-time job before reporting the 150k income


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Message 2 of 9
Valued Contributor

Re: Question about reporting income for graduating grad student

Good jon....Your time finally paid off.......

Enjoy making that money.........

Wait till your income steady then apps for it. They probably need to send some pay check so just get them all ready.


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
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Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 3 of 9
Contributor

Re: Question about reporting income for graduating grad student


newportguy wrote:

i would wait until i got the full-time job before reporting the 150k income



Well, I have the job (offer and acceptance at least), I just haven't started it yet.

Another option I guess is reconning the credit limit and explaining the situation.

Chase Sapphire Preferred - 5.6k (3/13) | Amex Premier Rewards Gold - NPSL (1/13) | Chase United MileagePlus Explorer Visa Signature - 9k (1/13) | Amex Delta Gold - 6k (9/12) | Citi Forward Visa - 10k (10/12) | Discover It - 2k (2/12) | Chase +1 Visa - $300 (2/11)
Message 4 of 9
Frequent Contributor

Re: Question about reporting income for graduating grad student


nickn86 wrote:

newportguy wrote:

i would wait until i got the full-time job before reporting the 150k income



Well, I have the job (offer and acceptance at least), I just haven't started it yet.

Another option I guess is reconning the credit limit and explaining the situation.


I understand  that you have the job, but you are not receiving the income yet. So if they ask for
a paystub, you won't be able to prove your 150k income stated on the app


Current Score: myFico EQ - 794 ( 11/ 29/2012 ) amexFico EX - 787 (10/15/2012) myFico TU - 780 (11/29/2012) Credit Sesame - 809 (02/04/2013) Goal Score * 800 Club *
****** Garden Club Member -- Last HP Jan 3rd 2013 *******
*** Amex - BCP 10 K * PenFed - CR 5 K * Amex - GDSM 5 K *
Discover - IT 5 K ***** NO MORE APPS FOR ME IN 2013 *****
Message 5 of 9
Senior Contributor

Re: Question about reporting income for graduating grad student


nickn86 wrote:

newportguy wrote:

i would wait until i got the full-time job before reporting the 150k income



Well, I have the job (offer and acceptance at least), I just haven't started it yet.

Another option I guess is reconning the credit limit and explaining the situation.


Since you have accepted the job, I would list the amount you expect to earn for 2013.

Message 6 of 9
Contributor

Re: Question about reporting income for graduating grad student

Well, I do have the summer paystubs which is the same salary prorated.  I could also send a copy of the offer letter.

 

This isn't the biggest deal.  I just want some higher limits for vacationing this summer.

Chase Sapphire Preferred - 5.6k (3/13) | Amex Premier Rewards Gold - NPSL (1/13) | Chase United MileagePlus Explorer Visa Signature - 9k (1/13) | Amex Delta Gold - 6k (9/12) | Citi Forward Visa - 10k (10/12) | Discover It - 2k (2/12) | Chase +1 Visa - $300 (2/11)
Message 7 of 9
Frequent Contributor

Re: Question about reporting income for graduating grad student

Congrats to you on your job offer and graduating from grad school! In times like these it is great to see someone progressing.



MCU $1000 (open 5/2015) I Capital One $3750 (open 4/2012) I Discover IT $2000 (open May 2017)
Starting Score 07/2016: TU 619 I EX 631 I EQ 592 I
Current Score 05/2017: TU 658 I EX 666 I EQ 666 I
Goal Score: All scores between 670-700 by July 2017
Message 8 of 9
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Blogger

Re: Question about reporting income for graduating grad student


nickn86 wrote:

Well, I do have the summer paystubs which is the same salary prorated.  I could also send a copy of the offer letter.

 

This isn't the biggest deal.  I just want some higher limits for vacationing this summer.


There you go - fill that huge annual income in! Smiley Happy

Message 9 of 9