topic Can you change income after you open a CC? in Credit Cards

Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 00:47:40 GMT

Was wondering if my fiance can change how much she reported as her income after she applied for her Amazon Store card? She wasn't aware at the time that she could report ALL household annual income and only reported her own, which is not very much.

TIA

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 00:51:24 GMT

I always claim household income.

@Anonymous wrote:
Was wondering if my fiance can change how much she reported as her income after she applied for her Amazon Store card? She wasn't aware at the time that she could report ALL household annual income and only reported her own, which is not very much.

TIA

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 00:54:14 GMT

She can. However, it may not result in a CLI if she has already been approved.

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 00:59:51 GMT

@Anonymous wrote:
She can. However, it may not result in a CLI if she has already been approved.

Not really what I wanted to hear LOL! but thanks

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 01:03:59 GMT

@Anonymous wrote:
@Anonymous wrote:
She can. However, it may not result in a CLI if she has already been approved.
Not really what I wanted to hear LOL! but thanks

It's still worth calling for recon!

Re: Can you change income after you open a CC?

Irisa — Tue, 09 Feb 2016 01:03:55 GMT

@Anonymous wrote:
Was wondering if my fiance can change how much she reported as her income after she applied for her Amazon Store card? She wasn't aware at the time that she could report ALL household annual income and only reported her own, which is not very much.

TIA

Yes. She can log in to her online account, click on the Profile tab at the very top, and then edit Personal Information to update income. She will also be asked for her income if/when she asks for CLI.

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 01:05:44 GMT

I have also got a question that regards to this as well for other members who can help me:

Say for instance I applied for a Freedom card and Discover about 6-9 months ago and I update my income today... Will that income that I resubmitted be shared with other banks for future apps? Is that something that updates deep in my credit file? I don't want to have applied for a card putting $25k in as my income and then apply for another one a few months down the road (after I got a big raise) and put $40k and they come back and say they couldn't verify my income or something like that-- Speaking of which, how do they even know your true income?

Re: Can you change income after you open a CC?

Irisa — Tue, 09 Feb 2016 01:34:31 GMT

@Anonymous wrote:
@Anonymous wrote:
She can. However, it may not result in a CLI if she has already been approved.
Not really what I wanted to hear LOL! but thanks

It won't change her initial CL, but she can always ask for a CLI. She should call or try the online chat option. I'm pretty sure CLI requests are always a SP. If it gets denied, she can try again in a few months. Best of luck to her!

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 04:28:34 GMT

Please come back and update thread with results.

Re: Can you change income after you open a CC?

Anonymous — Tue, 09 Feb 2016 06:08:58 GMT

@beautifulblaquepearl wrote:
Please come back and update thread with results.

Will do

Re: Can you change income after you open a CC?

Chris679 — Tue, 09 Feb 2016 08:45:25 GMT

@Anonymous wrote:
I have also got a question that regards to this as well for other members who can help me:

Say for instance I applied for a Freedom card and Discover about 6-9 months ago and I update my income today... (1)Will that income that I resubmitted be shared with other banks for future apps? (2)Is that something that updates deep in my credit file? I don't want to have applied for a card putting $25k in as my income and then apply for another one a few months down the road (after I got a big raise) and put $40k and they come back and say they couldn't verify my income or something like that-- (3)Speaking of which, how do they even know your true income?

(1) No, they will not share the info

(2) No, your credit report has no info regarding your income

(3) They don't, they go by what you tell them

Re: Can you change income after you open a CC?

takeshi74 — Tue, 09 Feb 2016 14:39:53 GMT

@Anonymous wrote:
Say for instance I applied for a Freedom card and Discover about 6-9 months ago and I update my income today... Will that income that I resubmitted be shared with other banks for future apps?

No. Creditors do not share that information. You need to update with each creditor, if desired. However, if you request a CLI it's common for creditor to request income at that time anyway.

@Anonymous wrote:
Is that something that updates deep in my credit file?

What you see on your reports is what creditors see.

@Anonymous wrote:
Speaking of which, how do they even know your true income?

They don't unless they verify but allegedly models can roughly deduce your income. in any case, it's fraud to misrepresent and I always recommend considering what evidence a creditor will require for income. For example, even if you get a raise, consider that AmEx uses the 4506-T and looks at previous years. At this time of year though even 2015 will not be considered -- not until around August/September, IIIRC.