topic Re: Your income on applications... be honest :) in Credit Card Applications

Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:04:02 GMT

Curious how many of you put down your actual income on CC applications or CLI requests and how many inflate their income a bit. I know on some of the high SL, high roller / tough cards to get they actually do income verification with W2's, pay stubs etc. but I'm talking for your typical run of the mill cards that are discussed on these forums most frequently from day to day. I was on the phone for a CLI today and when they asked my income I added $4k to my real annual income to bring it to the next $10k increment... don't know why, I guess I thought it just looked/sounded better.

So do you guys typically give your real income? Slightly inflated? Grossly inflated?

Be honest

Re: Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:09:38 GMT

I provide my exact income down to the dollar. Aside from the fact that it's the right thing to do, I'm self-employed so I expect to be asked for proof.

Re: Your income on applications... be honest :)

Septrosh — Fri, 15 Apr 2016 23:09:42 GMT

@Anonymous wrote:
Curious how many of you put down your actual income on CC applications or CLI requests and how many inflate their income a bit. I know on some of the high SL, high roller / tough cards to get they actually do income verification with W2's, pay stubs etc. but I'm talking for your typical run of the mill cards that are discussed on these forums most frequently from day to day. I was on the phone for a CLI today and when they asked my income I added $4k to my real annual income to bring it to the next $10k increment... don't know why, I guess I thought it just looked/sounded better.

So do you guys typically give your real income? Slightly inflated? Grossly inflated?

Be honest

I'm comfortable with my salary so don't feel that I need to stretch the truth. I might actually round down a hair tbh. Never have any issues getting approved or having a recon done. Also they could ask for income verification; AMEX is known for this. You can either choose to comply or risk having an account closed. Not worth it. I usually don't do app sprees and have the cards I need to get by and maximize rewards. To each his own though. Everyone's portfolio is different.

Re: Your income on applications... be honest :)

ibmrad7 — Fri, 15 Apr 2016 23:18:20 GMT

I am at 148k and I round it up as 150K usually

Re: Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:18:30 GMT

Exact income. Lying can bite you in the butt.

Re: Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:22:07 GMT

I provide my exact income. It is morally imperative we do so. Believe it or not, these companies have a way of varifying. If they are in doubt, they will ask for income verification..... Some credit unions have been doing so already.

So it is a bad idea to lie on the application. It all ends in tears in the long run once caught.

Re: Your income on applications... be honest :)

Samac — Fri, 15 Apr 2016 23:22:56 GMT

I've been counting in the money my mom and dad
put into my account every month for rent car payment and insurance because the clause of you can choose to include all sources or not.
Well I applied for Capital One on a pre approved offer quite a way back with the info. They didn't like that I did that. Rejected. Whoops. Learned my lesson.

Re: Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:33:38 GMT

Interesting. I'm surprised more haven't said they inflate it a bit. Good information to know, though. If I apply for an Amex card next month I'll make sure I indicate my income to the dollar.

Re: Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:38:35 GMT

I use my prior years w2 number if it states I can use bonus income. My actual salary to the penny if not.

Re: Your income on applications... be honest :)

thummel — Fri, 15 Apr 2016 23:53:13 GMT

I usually just use my exact income normally unless I add an authorized user like on Chase that pays there own swipes then I'll include that too.

Re: Your income on applications... be honest :)

Anonymous — Fri, 15 Apr 2016 23:58:17 GMT

Put in actual salary as was said, they can do a income verification check at any point.
Just not worth it to lose what you worked for

Re: Your income on applications... be honest :)

pakprotector — Sat, 16 Apr 2016 00:00:56 GMT

I provide what I actually make. Too much to lose otherwise...

thanks,

BLH

Re: Your income on applications... be honest :)

woodyman100 — Sat, 16 Apr 2016 00:26:25 GMT

I put what's on my tax return rounded to the nearest thousand.

Re: Your income on applications... be honest :)

sandman2435 — Sat, 16 Apr 2016 01:46:19 GMT

I'm self-employed so I put down exactly what I make as sometimes the creditors may ask for proof of income ,Credit unions almost always ask for proof of income,I had to send in docs to NFCU,Penfed, UNFCU for approval

Re: Your income on applications... be honest :)

Anonymous — Sat, 16 Apr 2016 01:59:18 GMT

I'm back on hourly pay since I switched jobs to be able to take night classes, and my employer doesn't mind me cranking out overtime (which I try to do at least a few hours a week cuz 150% pay for those hours adds up to a nice extra bump on the paycheck).

Because of my pretty reliable OT, I report a little higher than what my base 40hr/wk income would be. It might not be exactly to the dollar accurate, but I'm sure it's at least what I'm entering in for income.

*edit because I got curious how much I am really making* turns out I have been lowballing myself a little bit!! Time to update income on all the bank systems!

Re: Your income on applications... be honest :)

Anonymous — Sat, 16 Apr 2016 02:19:25 GMT

I guess I'm the odd one out, I underestimate my income by about 6k from my regular job and don't include any from my casual position because it's casual and no hours guaranteed. I figure better to be under than over if asked for proof.

Re: Your income on applications... be honest :)

Anonymous — Sat, 16 Apr 2016 02:30:14 GMT

I make 49k an some change and i just round to 50k. That is from previous year including overtime and commission. Has been trending upwards YOY so I dont think anything is wrong with that. Also i worked an extra week in december but got payed for it in janurary so i figure its close enough anyways. Funny NFCU has given me a car and a creditcard in the last month and no income verification. But i use the same number for all my apps.

Re: Your income on applications... be honest :)

VegasMom — Sat, 16 Apr 2016 02:49:19 GMT

I round up a little bit. When I figure it out I just use my hourly, don't include OT or bonuses. I also don't use my husbands income which some say you can do. So I don't worry about my rounding it. I also don't have huge credit lines yet so maybe will be more precise when I get there. I think using the previous years W-2 is a good idea. I never really thought of it.

Re: Your income on applications... be honest :)

NichelleN — Sat, 16 Apr 2016 02:55:12 GMT

I've used my exact income but I've included the yearly bonus once received. For example, I've already received my bonus for this calendar year so my updated yearly income now reflects that.

Re: Your income on applications... be honest :)

Creditplz — Sat, 16 Apr 2016 02:55:21 GMT

I am self employed and always round it to the nearest round number 186,000 on all apps