topic Income on an application question.... in Credit Card Applications

Income on an application question....

Anonymous — Mon, 09 Nov 2015 00:14:08 GMT

What is keeping me from saying I make more than I do? Does your income even have an impact on the credit limit you're given? I feel like if it did, then they would demand proof of said income, right?

Re: Income on an application question....

iheartwings — Mon, 09 Nov 2015 00:50:50 GMT

@Anonymous wrote:
What is keeping me from saying I make more than I do? Does your income even have an impact on the credit limit you're given? I feel like if it did, then they would demand proof of said income, right?

Well, you could pretty much say what you want on an application and people (and CCC) can be none the wiser.

However, CCC can (and do) request verification of income - sometimes for extending credit, CLI, or the dreaded FR. If you are claiming one income, and it can't be backed up, you could be subject to AA. How often this occurs is not entirely clear.

edited for my spelling errors

Re: Income on an application question....

Anonymous — Mon, 09 Nov 2015 01:15:25 GMT

Fr? Aa?

Re: Income on an application question....

CreditCuriosity — Mon, 09 Nov 2015 01:48:13 GMT

@Anonymous wrote:
Fr? Aa?

FR = Financial review (means the can freeze account until provide them with tax form such as a 4506-t if you choose not to the can cloose account, etc)

AA = Adverse action. Meaning closing of an account or a credit line decrease.