What income should I put on app?

[Anonymous]

I finally got my credit score up over 700! Experian shows a score of 727 and TU at 739! 

Because of the credit score, i've decided to try and pull the trigger on opening my third CC, an Amex card. Which if approved, I will end up gardening for the foreseable future.

Question 1:

What income should i state on the Amex app? I am currently a full-time student while also working part-time at a hedge fund. The same hedge fund has offered me a full time position as soon as i gradute (may 2015). On the app, should I put what my yearly income would be if i stayed part-time or should I put my income as if i was full time? The main reason i ask is because the part-time income is considerably less (almost half) of what it will be full time and I do know what I will be making as soon as i start full time.

Question 2:

What amex card should i go for? Currently I have a Discover Card and the Chase Freedom. I enjoy the cash back with the freedom but really only use it for statement credit. I am torn between:

-Everyday

-Blue Sky

-Blue

-Delta Skymiles

Also, should I just go for the basic card or the preferred card with the annual fee? Any tips or recommendations greatly appreciated! Hopefully I get approved and I can sit tight for a long time as i'll have the 3 cards I want!

[jon22guitar]

Put your income as what you can currently prove it is (via pay stubs), not what you expect it may be in the future; however, you can update your income in the future. Remember, employment is only one source of income. You can also include annuities, investments, etc. 

[Anonymous]

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@Anonymous wrote:

I finally got my credit score up over 700! Experian shows a score of 727 and TU at 739! 

Because of the credit score, i've decided to try and pull the trigger on opening my third CC, an Amex card. Which if approved, I will end up gardening for the foreseable future.

Question 1:

What income should i state on the Amex app? I am currently a full-time student while also working part-time at a hedge fund. The same hedge fund has offered me a full time position as soon as i gradute (may 2015). On the app, should I put what my yearly income would be if i stayed part-time or should I put my income as if i was full time? The main reason i ask is because the part-time income is considerably less (almost half) of what it will be full time and I do know what I will be making as soon as i start full time.

Question 2:

What amex card should i go for? Currently I have a Discover Card and the Chase Freedom. I enjoy the cash back with the freedom but really only use it for statement credit. I am torn between:

-Everyday

-Blue Sky

-Blue

-Delta Skymiles

Also, should I just go for the basic card or the preferred card with the annual fee? Any tips or recommendations greatly appreciated! Hopefully I get approved and I can sit tight for a long time as i'll have the 3 cards I want!

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Re: Question 1, you need to put down what income you can currently prove that you are receiving. If you run into a financial review or are denied and they request proof of income, you need to be able to prove it to them with tax documents or bank statements proving history for your stated income.

For question 2, it's really up to you. You can calculate if the AF cards are worth it for you based on where you spend your money. If you don't spend much, they probably aren't worth it. The SkyMiles Delta Gold is known for being the easiest AMEX revolver, so if you're worried about approval, you could try for that. If that's not really the card you want, try for what you do or wait a little while to increase your AAoA and pay down any balances you might have. Good luck!

[Anonymous]

Thanks guys! I'm going to go ahead and figure out what my yearly income would be with my current part-time pay and go from there.

Just as a general opinion, does the BCE card make sense since I already have the Discover and Chase Freedom which i use the cashback/rewards for statement credit? Would the Everday Card be a better compliment to my two cards I already have?

[Anonymous]

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@Anonymous wrote:

Thanks guys! I'm going to go ahead and figure out what my yearly income would be with my current part-time pay and go from there.

Just as a general opinion, does the BCE card make sense since I already have the Discover and Chase Freedom which i use the cashback/rewards for statement credit? Would the Everday Card be a better compliment to my two cards I already have?

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AMEX Everyday is good for groceries (and gas on preferred). It also has a good bonus if you use your card 20 times in a billing cycle (30 times for Preferred). It's good to have if those categories are big for you. It's always nice to have a card which can get you more cash back when the 5% categories aren't groceries or gas. The BCE may be better for you depending on how you want to redeem your points and which categories you spend in. The BCE has 3% on supermarkets and 2% on gas and department stores when the Everyday is just 2% on supermarkets and has the 20% bonus after 20 uses.

[chrisw1968uk]

There is no rush, I would wait to app until you are fully employed, that 5 or so extra months will improve your credit score if you behave yourself between now and then, you will be earning a lot more then too - i think you would get much better terms then, rather than now - just my 2c  

[wacdenney]

If you file a joint tax return with someone you can put down household income unless the app specifically requests personal income and I do not believe the AMEX apps do.  There may be some exception to this if you are under 21, but I'm not sure.  Generally you can put down whatever income you have access to.

[KneelBeforeZod]

Just be honest and don't overinflate it.

[Chris679]

I would go with BCE, the Everyday doesn't have much value if you don't use it 20x per month. Go ahead and apply now. If you get denied (doubt it) you should be able call and recon. Explain your employment situation and m willing to bet they approve you.

[tjones9234]

read the card act, you dont have to file taxes "jointly" to have reasonable access to other income. I think there is seruous confusion on the boards when it comes to this..Include all sources of income that are available to you "including income of other you can reasonable access to pay bills" ... This means a joint bank account or an account a domestic partner, gf bf, parent etc makes regular transfers to... Be able to show this income via bank statements etc... Most all applications state the wording this way, they must allow you to provide documentation of it other then IRS returns..  I know many people living together that file seperate, dont lie but do not understate income