topic Re: Hilton Honors Surpass minimum income in Credit Card Applications

Hilton Honors Surpass minimum income

villemiami — Fri, 21 Feb 2020 15:48:35 GMT

Usually, for my past credit card applications, I have to type my mortgage/rent and I put 0, because I own a condo with no mortgage. But for the Hilton Honors Surpass application, it didn't ask for that and only asked for income, I put $10,000 and I got denied. My mother applied, she put $25,000 for income (she is retired) and she got approved. I have slightly better fico 8 scores than her. What is the minimum income for a successful application with Hilton Honors Surpass?

Re: Hilton Honors Surpass minimum income

M_Smart007 — Fri, 21 Feb 2020 15:58:27 GMT

Sorry for your denial.

Re: Hilton Honors Surpass minimum income

Anonymous — Fri, 21 Feb 2020 16:07:40 GMT

As explained in your last low income denial thread, $10K is simply not enough for travel cards from most lenders, regardless of your housing expenses. It's irresponsible lending to encourage someone with no resources to spend their money on travel and there is a very high risk of default on any credit issued to someone well below the poverty line.

Re: Hilton Honors Surpass minimum income

Remedios — Fri, 21 Feb 2020 16:07:35 GMT

Does the denial specifically references income, or is this your conclusion because mom got approved after putting higher income?

Re: Hilton Honors Surpass minimum income

K-in-Boston — Fri, 21 Feb 2020 16:40:25 GMT

If your signature is correct, American Express has already extended 54% of your income to you on the Gold Delta SkyMiles card. So it's probably not a matter of income being too low, but rather a matter of income being too low for current debt-to-income levels based on your Experian credit report and the amount of credit they have already extended you, which is extremely generous.

Re: Hilton Honors Surpass minimum income

villemiami — Fri, 21 Feb 2020 16:47:44 GMT

It's my conclusion because mom got approved.

Re: Hilton Honors Surpass minimum income

villemiami — Fri, 21 Feb 2020 16:48:56 GMT

my signature is correct.

Re: Hilton Honors Surpass minimum income

FinStar — Fri, 21 Feb 2020 16:54:41 GMT

@villemiami wrote:
It's my conclusion because mom got approved.

I would say it's best to learn the actual reason(s) for being declined to provide more concrete picture or set of results.

Once you have the letter, which you should be able to access online, please share it with the community.

Re: Hilton Honors Surpass minimum income

villemiami — Fri, 21 Feb 2020 16:55:57 GMT

OK.

Re: Hilton Honors Surpass minimum income

K-in-Boston — Fri, 21 Feb 2020 17:04:17 GMT

@villemiami wrote:
my signature is correct.

In which case, the most likely reason for denial is the amount of credit they have already extended to you. Even with massive spend through American Express over the past 18 years, as a percentage of income I'm at about 30% so it is very unlikely that they would extend more to you with you having $5400 on a $10k income unless you also have significant liquid assets.

Once you receive the letter, you may try to recon their decision by offering to reallocate your existing credit line to open the new account.

Re: Hilton Honors Surpass minimum income

villemiami — Fri, 21 Feb 2020 17:41:47 GMT

I understand, thanks.

Re: Hilton Honors Surpass minimum income

Anonymous — Fri, 21 Feb 2020 18:05:00 GMT

I'll also point out, based on your sig. That you have several cards with decent limits for you stated income, Amex also takes that into considerationm. Not just accounts with them.

I have to say that your doing pretty good getting the BoA Premium Rewards on such a limited Income, I was under the impression it's tough one to get. Or maybe thinking of a differnt card.

Also seems that all but one of your card have AF's, and most people with limited income don't generally go that route.

Re: Hilton Honors Surpass minimum income

Anonymous — Fri, 21 Feb 2020 18:24:26 GMT

@Anonymous wrote:
I'll also point out, based on your sig. That you have several cards with decent limits for you stated income, Amex also takes that into considerationm. Not just accounts with them.

I have to say that your doing pretty good getting the BoA Premium Rewards on such a limited Income, I was under the impression it's tough one to get. Or maybe thinking of a differnt card.

Also seems that all but one of your card have AF's, and most people with limited income don't generally go that route.

The PR definitely throws me for a loop too. I was under the same impression about it

Re: Hilton Honors Surpass minimum income

villemiami — Fri, 21 Feb 2020 18:31:12 GMT

I think that's because on several applications I did, I put $0 for mortgage/rent (even though I still have to pay for maintenance fee), so their system must calculate mortage divided per income, it finds 0% so it approves me. But for Hilton Honors, it didn't ask for mortgage.

Re: Hilton Honors Surpass minimum income

Egaffne2 — Fri, 21 Feb 2020 21:25:12 GMT

I will say owning a condo in itself is a significant asset that most lenders would take into account. Having your rent/mortgage at $0 also gives you a lot of spending room even with the low income. But all lenders have different requirements on who they extend credit too and different requirements for different products. It just might be they only care about income for this specific card because their data tells them that this income level isn't sufficient or worth lending too. Your debt level and overall credit might be considered here too. But I guess you will find out soon. It might not even be income related. But if it is you can always call and explain that you have a large asset that u want to be considered for your ability to repay and your $0 rent/mortgage. That could possibly change minds. But I really don't know, sorry u got denied.

Re: Hilton Honors Surpass minimum income

villemiami — Sun, 01 Mar 2020 14:32:48 GMT

I received their letter, it says "The amount of your annual income and/or financial asstes known to us is insufficient in relation to the credit you've applied for and your overall debt obligations as reflected in our recors and on your credit report"

Re: Hilton Honors Surpass minimum income

Anonymous — Sun, 01 Mar 2020 15:29:28 GMT

@villemiami wrote:
I received their letter, it says "The amount of your annual income and/or financial asstes known to us is insufficient in relation to the credit you've applied for and your overall debt obligations as reflected in our recors and on your credit report"

That essentially confirms what @K-in-Boston said then - with the amount that Amex has already given you relative to income, they're not comfortable going further.

You can call to recon, and maybe ask if they'd open the card by taking some of the limit from your existing card and using that to fund the limit for the Surpass. It seems though that the $5400 already extended is a hard limit to the dollar value they'll allow.