topic Re: HHI Question? in Credit Cards

HHI Question?

Anonymous — Fri, 04 Jan 2008 14:19:08 GMT

Yesterday, I applied for an AMEX Green card (approved, yay!). It asked for my HHI, and without thinking I entered in my own compensation for the year of 2007. However, I am newly married (about 3 mos or so), and am now wondering whether I should have put in my income, and my husband's, even though I was applying for the card by myself? Is it fair to add in his income under the HHI field when applying for any credit card by myself? And, for AMEX customers, when we file our joint tax return in the spring, and there is a higher income than I reported to AMEX, will that trigger a dreaded F/R on my account?

TIA for your input.

Re: HHI Question?

rubaty — Fri, 04 Jan 2008 14:35:55 GMT

I always include the income for my DW. I put in the spot where it asks for any additional HHI that you would like to include and then list that it comes from my DW. My wife doesn't have a SSN so I only put her on cards that don't require it.

Re: HHI Question?

Anonymous — Fri, 04 Jan 2008 14:57:01 GMT

Not a huge deal-

After you have your card you can change your HHI online-

AMEX will not be upset you understated your HHI.

mrsfoofyfoo wrote:

Yesterday, I applied for an AMEX Green card (approved, yay!). It asked for my HHI, and without thinking I entered in my own compensation for the year of 2007. However, I am newly married (about 3 mos or so), and am now wondering whether I should have put in my income, and my husband's, even though I was applying for the card by myself? Is it fair to add in his income under the HHI field when applying for any credit card by myself? And, for AMEX customers, when we file our joint tax return in the spring, and there is a higher income than I reported to AMEX, will that trigger a dreaded F/R on my account?

TIA for your input.

Re: HHI Question?

Anonymous — Fri, 04 Jan 2008 15:05:51 GMT

mrsfoofyfoo wrote:
Yesterday, I applied for an AMEX Green card (approved, yay!). It asked for my HHI, and without thinking I entered in my own compensation for the year of 2007. However, I am newly married (about 3 mos or so), and am now wondering whether I should have put in my income, and my husband's, even though I was applying for the card by myself? Is it fair to add in his income under the HHI field when applying for any credit card by myself? And, for AMEX customers, when we file our joint tax return in the spring, and there is a higher income than I reported to AMEX, will that trigger a dreaded F/R on my account?

TIA for your input.

First of all, congrats on your Green card!

Since you are married, IMO it would have been perfectly acceptable to include total HHI on your application (that means your income AND your husband's), especially since you will be filing a joint tax return. Basically, HHI comes down to the income of all people living under the same roof who are a single economic unit. Some people stretch the definition of HHI on their apps, and include roommates and others who, although they may live under the same roof, are not really a single economic unit. That sort of misleading behavior is asking for trouble, IMO. In your case, though, as husband and wife you can definitely include each other's income.

Having said that, just because you can include your husband's income doesn't mean you have to. You won't get in trouble for not including your husband's income, but there's really no reason not to. If you were applying for an actual CC rather than a charge card, your CL would be partially determined by your stated income. By including your husband's income as well, you would likely get a higher CL than you would if you just included your own.

You not get F/R'd just because your tax return income is higher than the income on your app. In fact, Amex has no way to know the figures on your tax return until they F/R you, and even if they did, they are primarily interested in finding people whose stated HHI on their applications is higher than the income on their tax returns, not the other way around.

It's actually sort of a sore spot among some who have been F/R'd. Amex asks for HHI on their application and CLI request forms, but then when you are F/R'd they are only interested in seeing your individual returns, and you don't even get a chance to justify how you arrived at the HHI figure.

I wouldn't worry about Amex F/R if I were in your shoes. Just remember that for future CC apps, you'll get better CLs if you include both of your incomes, and since you're married there is no reason not to.