Moderator
Revelate
Posts: 9,640
Registered: ‎12-30-2011
Re: Do YOU exaggerate your income when applying?

Tommy5746 wrote:

OwNt wrote:

All you're doing in this example is moving money around every month. If you had $500 deposited from somebody else's checking account on a consistent basis, then it would be a different story.

 

Can you provide a citation to back up your claims?


 

I spoke with CITI customer service... I was recently approved for two of their cards and in the future I would like another so I figured I would ask them when I called customer service not long ago regarding a question I had with my cash back.. Anyway,... The gentlemen told me that when you apply you put down ALL sources of income... So, if you have a savings account and you grant yourself a sustained amount of money each month, then that is considered income... like is said before too... if you choose to do this just make sure you are actually doing it and not just saying it for app purposes.. Its the same with an IRA.. once you hit 59 1/2 you start receiving income from your IRA.. which is money you saved up... So, all sources of income are fine as long as you can prove it..

 


I hate to be a debbie-downer, but the sad fact is CSR's are often wrong, misinformed, innacurate, etc ad naseum.

 

I would never, ever do something like claiminng spending my assets is income without consulting with a lawyer first.   I think there's some generalizations in this thread which may well be legally innacurate, and inadvisable regardless.

 

I'm not a lawyer, but other than the corner-case of retirees that you mentioned, I just don't see this as being legitimate.  Spending money out of your checking account is not income under any typical definition of the word.

 

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