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New Contributor
in0wh3r3ul1v3
Posts: 55
Registered: ‎08-15-2011
0

calculating annual income?

i'm currently filling out an app for the ZYNC card, and i had a question about my annual income.

 

should i put the number that is on my W2 from 2010? i've taken a year off from school, and working part-time, i've already earned more than what i did last year at my few summer jobs... how do i express this to AMEX? or do i just keep it to myself?

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Regular Contributor
alph4
Posts: 124
Registered: ‎08-06-2009
0

Re: calculating annual income?

For AmEx, I would only put what you can prove with a tax return, thus your gross income on your 2010 return.  If they ever verify with a financial review, they will only want to see the return, not paystubs etc.

Current Cards:
American Express Blue Cash Preferred - March 2007 - CL $10,000
Citi Forward Visa Signature - September 2009 - CL $6,500
Chase Freedom - March 2011 - CL $15,000
Chase Sapphire Preferred - May 2013 - CL $12,500
Discover It - November 2013 - $5,000
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llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: calculating annual income?

+1000.

New Contributor
anybodii
Posts: 132
Registered: ‎05-31-2011
0

Re: calculating annual income?

A little off topic, but curious.. do CC companies regularly audit you for things like this? I've never had to verify my income for anything, not even a loan. ( Of course, I've never taken out a loan above 10k )

 

And if they were to and find out you lied, would they cancel the card? And would that constitute fraud and be subject to legal action? Of course not likely, but is it possible...

Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
0

Re: calculating annual income?

Since you brought it up it makes me wonder, has anyone in the military had to deal with this? Most of my income is tax free, especially when I am deployed a lot, so my tax return doesn't reflect what I actually make. I wonder how AmEx deals with us.


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Regular Contributor
alph4
Posts: 124
Registered: ‎08-06-2009
0

Re: calculating annual income?


LTomBerry wrote:

Since you brought it up it makes me wonder, has anyone in the military had to deal with this? Most of my income is tax free, especially when I am deployed a lot, so my tax return doesn't reflect what I actually make. I wonder how AmEx deals with us.


As of right now I don't believe they do.  Since your income is tax free your gross income would essentially be the same as your net income.  There should be some way to show compensation outside of regular base pay.  I know housing, food, clothing allowances add up to a lot and are not included in regular military pay rates. I suppose the best way is just to ask.

Current Cards:
American Express Blue Cash Preferred - March 2007 - CL $10,000
Citi Forward Visa Signature - September 2009 - CL $6,500
Chase Freedom - March 2011 - CL $15,000
Chase Sapphire Preferred - May 2013 - CL $12,500
Discover It - November 2013 - $5,000
Barclay Arrival - January 2014 - $10,000

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