Reply
Member
KillerCut
Posts: 11
Registered: ‎02-26-2013
0

financial review, or pay stubs (but using household income from spouse)

with the new rule from last year. say they ask for pay stubs or start a financial review, and I am between jobs at the moment, or actually self employed, can I provide my spouse's pay stubs?

Moderator
09Lexie
Posts: 25,329
Registered: ‎09-13-2012
0

Re: financial review, or pay stubs (but using household income from spouse)


KillerCut wrote:

with the new rule from last year. say they ask for pay stubs or start a financial review, and I am between jobs at the moment, or actually self employed, can I provide my spouse's pay stubs?


Which lender? Is your spouse on the account? Do you file joint taxes? 

 

Are you self-employed or unemployed?

Member
KillerCut
Posts: 11
Registered: ‎02-26-2013
0

Re: financial review, or pay stubs (but using household income from spouse)

lets say alliant credit union. technically i will be self employed in like 2 weeks. I want to get their 0% 12months.

the rule kinda says they can generalize "Income" but they cannot specify "individual income". so technically i can use household income on any cc app right?

Moderator
09Lexie
Posts: 25,329
Registered: ‎09-13-2012
0

Re: financial review, or pay stubs (but using household income from spouse)


KillerCut wrote:

lets say alliant credit union. technically i will be self employed in like 2 weeks. I want to get their 0% 12months.

the rule kinda says they can generalize "Income" but they cannot specify "individual income". so technically i can use household income on any cc app right?


What rule are you referring to? And when are you applying, while your are unemployed? What are you going write down as employer?

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013
0

Re: financial review, or pay stubs (but using household income from spouse)


09Lexie wrote:

KillerCut wrote:

lets say alliant credit union. technically i will be self employed in like 2 weeks. I want to get their 0% 12months.

the rule kinda says they can generalize "Income" but they cannot specify "individual income". so technically i can use household income on any cc app right?


What rule are you referring to? And when are you applying, while your are unemployed? What are you going write down as employer?


+1.

It's best to just wait for 2 more weeks, which really isn't a big deal. That way, you can legitimately state that you are self-employed. It's just safer to have your bases covered even though this may seem trivial.

 

As for income, it depends on whether you live in a community state, whether you file joint taxes, and what it is asking for on the app (household or personal income?).

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Epic Contributor
Creditaddict
Posts: 20,056
Registered: ‎10-23-2007
0

Re: financial review, or pay stubs (but using household income from spouse)


KillerCut wrote:

with the new rule from last year. say they ask for pay stubs or start a financial review, and I am between jobs at the moment, or actually self employed, can I provide my spouse's pay stubs?


with a place that is almost 100% a given you are going to have to prove the income I would not apply for them when you can't... not if you file jointly you might be able to get away with using spouses but usually then they want that spouse joint on the application.

Fico Scores: EQ 673 DCU, TU 678 Wally, EX 669 Chase(08-31-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Express $300
Over 45 Cards in between :smileytongue:
Moderator
Revelate
Posts: 8,991
Registered: ‎12-30-2011
0

Re: financial review, or pay stubs (but using household income from spouse)

Hmm, I'm going to be faced with a similar situation (without anyone else's income that I can suggest is partially mine) and as self-employed (which won't be technically right in my case, sigh) you can always furnish your last two years tax returns; however, I'm not certain how that works if you are recently self-employed and your tax returns were of the standard W2-type corporate employee variety.

 

What I would suggest is to look into business cards such that you can keep your expenses (potentially deductable) rigorously seperate: it will make it much easier if you do ever have to go 12 rounds with the IRS... in my case I'll walk down the street and talk to Chase where I have my personal accounts about a Ink Cash card: given that it's a new business venture, likely isn't the same income verification requirements for a personally guarunteed card.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+