topic Re: CREDIT HUNGRY OR WHAT in Credit Card Applications

CREDIT HUNGRY OR WHAT

Anonymous — Wed, 01 Mar 2017 00:39:06 GMT

I have a fellow worke

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 09 Feb 2017 05:25:11 GMT

@Anonymous wrote:
I have a fellow worker that shared he was asked for pay stubs and W-2 for a big starting limit..he annouced he was gonna doctor his forms to inflated his income by 40k....I am like "Randy, I think the bank can file charges if its discovered you falsified info especially W-2"......will they just withdraw his app or what if they discover the docs are fake?

true - you've just described a potential criminal case for financial fraud

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 09 Feb 2017 05:38:51 GMT

In the past, I have inflated my income from 35k to 45k...which I don't do anymore..but fake docs are a whole different ball game. His thought process is that they will not check them...a big roll of the dice..

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 09 Feb 2017 05:42:04 GMT

@Anonymous wrote:
In the past, I have inflated my income from 35k to 45k...which I don't do anymore..but fake docs are a whole different ball game. His thought process is that they will not check them...a big roll of the dice..

and a big difference between a 10k inflation vs a 40k inflation...the first is hard to check, the second significantly easier

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 09 Feb 2017 05:47:44 GMT

He says he put the 40k higher on his app not expecting any verification....they did ask so he thinks just send fake docs supporting app...just not a wise decision...hell they may not check, who knows...I wouldnt gamble.

Re: CREDIT HUNGRY OR WHAT

fltireguy — Thu, 09 Feb 2017 12:19:36 GMT

Any way you look at it, it's fraud. He should call the income what it actually is, and there might not even be that much of a difference in SL..

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 09 Feb 2017 14:45:52 GMT

Wow, I've heard of rounding up a little (example; made $44,567 put down $45,000) but $40k. Crazy IMO! I usually under estimate my income from my full time job and never include income from my causal job (last year around $16k gross from casual). To me, it keeps me from getting over extended, and I can usually PIF on most every month but always within 6 months. Listing $40k more is not only fraudulent but can get you in way over your head. If it was me, first I'd never inflate my income by $40k, but your friend should just let the application die and forget it. But, I have a really funny feeling that your friend will not. As the saying goes "stupid is as stupid does".

Re: CREDIT HUNGRY OR WHAT

DeeBee78 — Thu, 09 Feb 2017 18:41:26 GMT

@Anonymous wrote:
I have a fellow worker that shared he was asked for pay stubs and W-2 for a big starting limit..he annouced he was gonna doctor his forms to inflated his income by 40k....I am like "Randy, I think the bank can file charges if its discovered you falsified info especially W-2"......will they just withdraw his app or what if they discover the docs are fake?

I would love to list my household income of 147K on applications, but my partner does not repay my debts, and I don't repay his.

Re: CREDIT HUNGRY OR WHAT

Anonymous — Fri, 10 Feb 2017 01:11:21 GMT

We actually had a news story here on a guy found guilty of 10 counts of fraud for lying on a credit app to a CU to receive a bigger loan. He was a government official and had to step down from his job because of it. He took a plea bargain to avoid time.

Re: CREDIT HUNGRY OR WHAT

AverageJoesCredit — Fri, 10 Feb 2017 01:16:02 GMT

Deebee, id love to use your 147k lol, but unfortunately, or fortunately, stupid is as stupid does

Op, convince your friend, a credit card is not worth the hassle or consequences of dealing with Big Brother.

Re: CREDIT HUNGRY OR WHAT

Anonymous — Fri, 10 Feb 2017 01:21:05 GMT

I spoke with him today...its to late as he uploaded the fake docs..however, I suggested he leave it be and if its approved, withdraw the app then or decline the offer. He agreed its wasn't his best foot forward....we'll see what happens

@AverageJoesCredit wrote:
Deebee, id love to use your 147k lol, but unfortunately, or fortunately, stupid is as stupid does

Op, convince your friend, a credit card is not worth the hassle or consequences of dealing with Big Brother.

Re: CREDIT HUNGRY OR WHAT

CreditCuriosity — Fri, 10 Feb 2017 01:43:00 GMT

Why people lie on their income I will never understand.. Most likely if they are lieing and by a big amount they are more likely to get into financial trouble in the future. Just my 2 cents. Fine round up your income iff you make 49500 to 50k, but 40k or even 5k is a big difference. Some people feel a need to lie about their incomes for whatever reason as they think this will get them bigger SL's or approved for something beyond what they can afford. It will just come back and byte them in the future is my take on it and it is fraud.

Re: CREDIT HUNGRY OR WHAT

Anonymous — Fri, 10 Feb 2017 01:55:30 GMT

@CreditCuriousity wrote:
Why people lie on their income I will never understand.. Most likely if they are lieing and by a big amount they are more likely to get into financial trouble in the future. Just my 2 cents. Fine round up your income iff you make 49500 to 50k, but 40k or even 5k is a big difference. Some people feel a need to lie about their incomes for whatever reason as they think this will get them bigger SL's or approved for something beyond what they can afford. It will just come back and byte them in the future is my take on it and it is fraud.

I hear ya..if a guy has 2-4 cards with 1000/2500 limits and applies for a high limit card, inflating his income beyond what his present cards present as his position in life....the credit card company ought to see somethings amiss.......I dont know if the cc company would file chgs agains someone or if they just report it to uncle sam/IRS, POLICE OR WHAT..THEY MAY JUST WITHDRAW the app them selves

Re: CREDIT HUNGRY OR WHAT

DeeBee78 — Fri, 10 Feb 2017 03:06:32 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
Why people lie on their income I will never understand.. Most likely if they are lieing and by a big amount they are more likely to get into financial trouble in the future. Just my 2 cents. Fine round up your income iff you make 49500 to 50k, but 40k or even 5k is a big difference. Some people feel a need to lie about their incomes for whatever reason as they think this will get them bigger SL's or approved for something beyond what they can afford. It will just come back and byte them in the future is my take on it and it is fraud.
I hear ya..if a guy has 2-4 cards with 1000/2500 limits and applies for a high limit card, inflating his income beyond what his present cards present as his position in life....the credit card company ought to see somethings amiss.......I dont know if the cc company would file chgs agains someone or if they just report it to uncle sam/IRS, POLICE OR WHAT..THEY MAY JUST WITHDRAW the app them selves

I've noticed the large limit guys (CSP and CSR, top-tier Amex co-brands, Hotel-branded cards, etc.) don't necessairly like to be your foot in the door to larger limits. They like to see your limits up there before handing out those minimum $5-10K lines.

I would be a shoe-in for CSP, since I've had a limit over $5k for a couple of years now, but I don't want one.

HONEST disclosure of income vs. a Lie

Anonymous — Thu, 16 Feb 2017 06:34:48 GMT

@Anonymous wrote:
In the past, I have inflated my income from 35k to 45k...which I don't do anymore..but fake docs are a whole different ball game. His thought process is that they will not check them...a big roll of the dice..

* inflated is not what little kids are taught.

Little kids are taught the difference between the Truth and Lies.

What is described here is simply defined as a lie.

If one is not willing to immediately PROVIDE un-doctored or un-redacted Official documents in support of claims, simply don't apply for credit.

Re: CREDIT HUNGRY OR WHAT

sarge12 — Thu, 16 Feb 2017 09:38:53 GMT

If someone over states their income it can lead to major problems. If in the future, he or she finds it necessary to file BK, the creditor can use this fraudulant info to get the BK case dismissed by the trustee...Let's be clear, NEVER lie on a credit application, just don't do it.

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 16 Feb 2017 16:24:26 GMT

If you're asking for actual documents that is a bad idea if it's something you just type in on a webpage that is more in the gray area because you can borrow money from someone to pay it and it would be income

Re: CREDIT HUNGRY OR WHAT

Anonymous — Thu, 16 Feb 2017 16:26:17 GMT

If you are really business-minded let him do what he wants. Get sued get fired and take his job. East Coast Cutthroat business model

Re: CREDIT HUNGRY OR WHAT

awp317 — Fri, 17 Feb 2017 12:58:17 GMT

My father was a part time bankrupcy lawyer (had a law degree he wasnt using for his business so figured why not) He said people lied all the time, and to be honest it isnt a big deal, UNLESS you couldnt pay or the bank asked for varification. The biggest risk is getting over extended (which if you lied and they grant you a larger tthan you can handle credit line or loan you might) and then ultimatly either going into collecttions or bankrupcy to try and dissolve the debt.. But during those preceddings thte banks lawyers will verify everything and when they find out you lied your screwed. His biggest money makers were resturant owners. For whatever reason they were the ones always in trouble.

Re: CREDIT HUNGRY OR WHAT

Anonymous — Fri, 17 Feb 2017 15:37:42 GMT

+1 restaurants doing well are a headache for accountants who have never gone thru them much lol. You have to fudge to stay out of the red. That is why taxes are so nasty . its to make up for the lies everyone is doing. If everyone was charged 20% flat tax, flat fees and couldn't squirm out of them the governments actually would make more money and so would private. Whatever percentage of small businesses fail in 2 years it's double or triple for restaurants