topic Household POI on App in Credit Card Applications

Household POI on App

Anonymous — Sat, 30 Dec 2017 01:59:20 GMT

DH will be prime to app for a couple CU cards in about a week when his Util reports below 9%. He makes $60k. I’ve read that it’s legal to use household income on apps, but want to better understand. I make $170k, but would probably just put $150k on his apps if we could use household.

If a creditor asks for POI, will they accept both of our POI if we aren’t on a joint app? Is it the wrong thing to do? We are both will and able to send POI in for both those amounts...just don’t want to do anything wrong that would jeopardize any approvals for him.

Thanks!

Re: Household POI on App

Anonymous — Sat, 30 Dec 2017 04:06:56 GMT

On any app that has language stating "include any income that you have access to or is deposited into your account for expenses" or anything like that I include our household income. I also live in a community property state so anything we make, incur as a debt, etc, we are equally entitled to. I have never had any issues with income when it comes to approvals, and have never been asked to verify. My $.02, if you can prove what you make, then include it, otherwise just use one income.

Re: Household POI on App

Anonymous — Sat, 30 Dec 2017 14:25:09 GMT

Thanks! I’m in Texas, which is a community property state. We can definitely both prove those numbers. Neither Navy or RBFCU asked me for POI @ $170k...but will be happy to provide it if it’ll give DH a boost. He needs a bit of padding on his Util as his limits are fairly low.

Re: Household POI on App

Anonymous — Sat, 30 Dec 2017 17:44:02 GMT

I'd just read the wording on the app. NFCU I believe only wants your personal income unless it's a joint app, but many apps do say that you can list any income you have access to for expenses etc. Good luck.

Re: Household POI on App

Anonymous — Mon, 01 Jan 2018 23:08:47 GMT

In my experience, Navy wants personal income for loans or CLOC. For cards it's acceptable to include both incomes.

Re: Household POI on App

bizarrocreditworld — Wed, 03 Jan 2018 12:44:19 GMT

@Anonymous wrote:
DH will be prime to app for a couple CU cards in about a week when his Util reports below 9%. He makes $60k. I’ve read that it’s legal to use household income on apps, but want to better understand. I make $170k, but would probably just put $150k on his apps if we could use household.

If a creditor asks for POI, will they accept both of our POI if we aren’t on a joint app? Is it the wrong thing to do? We are both will and able to send POI in for both those amounts...just don’t want to do anything wrong that would jeopardize any approvals for him.

Thanks!

I'm pretty much in the same situation you're in, except I am the lower earning husband rather than the higher earning wife (I make $55,000, my wife makes $170,000, but I provide the insurance benefits). For credit cards, we've never had a problem with joint income. I have been asked to provide POI and have done so using both of our records without any problem. Loans and CLOC may be different, so check with the lender you want to work with.

Re: Household POI on App

Anonymous — Sat, 06 Jan 2018 01:21:02 GMT

Bizarro- we are almost identical...I make 170, DH is just under 60

Well we did it, his NFCU app is tucked in tightly with a loan officer and as requested, they have both of our paystubs...now let’s see how this one plays out....

We did app in branch and the rep said as long as both incomes are deposited into the same account, we can use both.