Regular Contributor
Tommy5746
Posts: 440
Registered: ‎02-08-2012
Re: Do YOU exaggerate your income when applying?

linux007969 wrote:

samanthathewitch wrote:

linux007969 wrote:

DaveSignal wrote:

I don't think lenders base credit limits off of your income anyway....  at least it is not a primary concern.  They just don't want to see something like 10k annually or some number that would make paying your bills and staying alive at the same time impossible.


Whats wrong with 10k? I work for a nonprofit right now and make $6,500 as of the end of this year and i have 5 credit cards that u see in my sig. Oh and lieing on a credit application is a federal crime.

 


Do you have a source/link to the applicable law please?

 


If you read the apps it basically says if you lie its a crime but here you go: http://www.creditcards.com/credit-card-news/legal-consequences-of-lying-on-credit-card-application-f...


samanthathewitch wrote:

linux007969 wrote:

DaveSignal wrote:

I don't think lenders base credit limits off of your income anyway....  at least it is not a primary concern.  They just don't want to see something like 10k annually or some number that would make paying your bills and staying alive at the same time impossible.


Whats wrong with 10k? I work for a nonprofit right now and make $6,500 as of the end of this year and i have 5 credit cards that u see in my sig. Oh and lieing on a credit application is a federal crime.

 


Do you have a source/link to the applicable law please?

 


if you read the apps it basically says its a crime if you lie on any portion of the app but here you go: http://www.creditcards.com/credit-card-news/legal-consequences-of-lying-on-credit-card-application-f...

 


we ALL know you shouldnt lie on your app.. but, if somebody said they make 32k but they really make 30k... im going to bet the farm that the WORST thing that happens is the CCC closes the card.. and possibly even blacklists them... I dont see that as a top tier case for the feds lol... And i hiiighly doubt the CCC would even report it...

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit :smileyhappy: