topic Re: Annual Income/Household Income American Express in Credit Cards

Annual Income/Household Income American Express

aftermath — Mon, 21 Mar 2011 06:14:04 GMT

When applying for an American Express card, do I put down my individual income or household income?

Re: Annual Income/Household Income American Express

smallfry — Mon, 21 Mar 2011 09:42:56 GMT

Use individual income. Some people have been closed down in subsequent FR because they used household income.

Re: Annual Income/Household Income American Express

aftermath — Mon, 21 Mar 2011 17:14:17 GMT

@smallfry wrote:
Use individual income. Some people have been closed down in subsequent FR because they used household income.

That's what I remember reading and wanted to make sure.

So how come they ask for Houshold Income on the application and close down people's cards when they submit proof of income of the household?

Re: Annual Income/Household Income American Express

halos24 — Mon, 21 Mar 2011 18:44:51 GMT

When applying for my Zync I used my own income, but recently when approved for Costco TE I used both my husband and my income because I had added him as an AU to my account. I even told them over the phone, now if they come back and want verification I have no problem in showing proof of what our household income is.

Re: Annual Income/Household Income American Express

smc733 — Mon, 21 Mar 2011 18:48:10 GMT

Be warned, they're ridiculous about that.

They'll ask for "We need to confirm your HOUSEHOLD INCOME", but will only accept YOUR tax information... Best to use personal income only, unless filing jointly.

Re: Annual Income/Household Income American Express

aftermath — Mon, 21 Mar 2011 19:41:05 GMT

@smc733 wrote:
Be warned, they're ridiculous about that.

They'll ask for "We need to confirm your HOUSEHOLD INCOME", but will only accept YOUR tax information... Best to use personal income only, unless filing jointly.

So if I file jointly with my wife, I can use my acutal household income?

Re: Annual Income/Household Income American Express

DI — Mon, 21 Mar 2011 19:43:13 GMT

You'd put down whatever income that you can prove if you're ever FR'd

Re: Annual Income/Household Income American Express

halos24 — Mon, 21 Mar 2011 19:47:52 GMT

Bottom line you put the income you depend on to pay bills. I think there is a misconception of people not wanting to submit their W2's or also not being able to prove or at least to AMEX standards the household they put on their application.

Me personally can prove the income, and would have no problem sending in anything they requested. Again, that is me and it is a personal choice.

Re: Annual Income/Household Income American Express

aftermath — Mon, 21 Mar 2011 23:07:55 GMT

@DI wrote:
You'd put down whatever income that you can prove if you're ever FR'd

So on the application, if I put $100k as my houshold income, and my jointly filed W2 shows $100k. I should be fine?

Re: Annual Income/Household Income American Express

DI — Mon, 21 Mar 2011 23:15:13 GMT

@aftermath wrote:

@DI wrote:
You'd put down whatever income that you can prove if you're ever FR'd
So on the application, if I put $100k as my houshold income, and my jointly filed W2 shows $100k. I should be fine?

No! Not if you're not submitting a joint application for credit.

Re: Annual Income/Household Income American Express

vish1 — Mon, 21 Mar 2011 23:19:48 GMT

IMO you should be OK. Atleast the 1040 doesn't have anyway for them to figure out the income division unless they can get a copy of W2 also. I don't think they are insanely unreasonable or anything. F/Rs are not as common as they seem to, infact I believe they are pretty rare. We are not in stone age, Amex must be using sophisticated algorithms to judge when to do a F/R (its a huge cost to them also).

Re: Annual Income/Household Income American Express

aftermath — Mon, 21 Mar 2011 23:26:04 GMT

@DI wrote:
@aftermath wrote:

@DI wrote:
You'd put down whatever income that you can prove if you're ever FR'd
So on the application, if I put $100k as my houshold income, and my jointly filed W2 shows $100k. I should be fine?

No! Not if you're not submitting a joint application for credit.

But the $100k is my household income (wife + me). Now I'm confused.

Re: Annual Income/Household Income American Express

aftermath — Mon, 21 Mar 2011 23:29:04 GMT

I'm sorry, i've been getting W2 and 1040 mixed up.

The 1040 I have shows both my wife and my total income of $100k.

Re: Annual Income/Household Income American Express

DI — Mon, 21 Mar 2011 23:31:26 GMT

Call AMEX Customer Service. They'd be happy to answer your inquiries.

Re: Annual Income/Household Income American Express

Anonymous — Tue, 22 Mar 2011 15:30:41 GMT

@vish1 wrote:
IMO you should be OK. Atleast the 1040 doesn't have anyway for them to figure out the income division unless they can get a copy of W2 also. I don't think they are insanely unreasonable or anything. F/Rs are not as common as they seem to, infact I believe they are pretty rare. We are not in stone age, Amex must be using sophisticated algorithms to judge when to do a F/R (its a huge cost to them also).

I agree 100%.

This isnt rocket science. If it asks for household income, put household income. *IF* they request a f/r, they'll be looking at your 1040.

Re: Annual Income/Household Income American Express

Walt_K — Tue, 22 Mar 2011 16:04:36 GMT

@aftermath wrote:

@smc733 wrote:
Be warned, they're ridiculous about that.

They'll ask for "We need to confirm your HOUSEHOLD INCOME", but will only accept YOUR tax information... Best to use personal income only, unless filing jointly.
So if I file jointly with my wife, I can use my acutal household income?

You're probably fine to put your household income. If I remember correctly, smc733 ran into problems becase he filled out his application listing household income including the income of his parents. I'm not passing judgment on that because I don't have a clue one way or the other whether you're allowed to include parental income as a student on a credit card app. I'm only pointing it out because his experience isn't necessarily indicative of yours.

Re: Annual Income/Household Income American Express

haulingthescoreup — Tue, 22 Mar 2011 16:29:35 GMT

If a form asks for household income, I enter the household income. If it asks for my income, I enter mine.

I don't see anything deceptive in providing HHI when that's what they're asking for. If I'm ever F/R'd, and I agree that this is getting rarer and rarer, and IF I decide to go through it (which I probably won't), I'll give them whatever form they ask for. If they want to drop my CL as a result, so be it.