What to count as income? DISCOVER CLI rules?

[Anonymous]

I'm a student who works part-time on campus, but also receive help from my parents for rent, car, insurance, etc. I also have an internship currently for the summer. I am soon eligible for a CLI request and would like to know what to factor into my "income."

Should I try to calculate my income for the entire year factoring in everything, or just count my internship income (substantially greater than campus job) for the entire year and go with that? I am pretty new to this and would like advice from the myFICO community.

I also have had a DISCOVER It card for 87 days and have not received an Auto-CLI. When would I be safe to ask for a SP CLI? 91 days? After 3rd statement closes?

Thank you!

[austinguy907]

Income = whatever you can prove / student income is a bit different.... add up your sources and use it on the form.

CLI's - if you don't see an auto by day 90 then chances are you won't be seeing one.  If you hit the button and don't get one then remind yourself monthly to hit the button.  They're a bit jacked up right now for higher limit CLI's but, smaller limit i.e sub 20K seem to get plenty of attn.

[AverageJoesCredit]

I would hit the button a few days after your third statement. The amount you receive will tell you alot about where Discover has bracketed you at the moment, imho

[Tazman81]

I also believe there was an update to the Credit Card Act in 2012 or so that requires companies to verify income if you are under the age of 21.  Not sure how strictly this is enforced, but may put you at a great odds of having to prove income.  If you are doing both an intership (paid) and getting paid to work for the college, there is no reason why you cannot use both as your income.  There are a number of people that hold 2 jobs and/or seasonal positions.

[Anonymous]

Generally, the safest and best thing you can use for "income" is whatever you had on your last income tax return.  Different people consider different things though, in addition to this, such as combined household income as well as other sources at times.

[Anonymous]

My current CL with Discover is $1,000. All statements have been cut at under $5 balance, so all good there. I spend $50-$100/mo on it. 

I am also over 21, so card act doesn't apply to me.

Try for CLI on 90 days or in 2 weeks after 3rd statement?

[Anonymous]

I too have a new Discover card and just received an auto CLI on day 90 (or perhaps 91 since it was over the weekend). You may not need to do anything.

I did try to double dip and pressed the button for fun but was denied. The letter just came and said the denial was due to recent increase so that magic is not in the cards (for me, at least).