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Applying for a credit card-- income question?

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Anonymous
Not applicable

Applying for a credit card-- income question?

When applying for a new card and the question of income is asked, can you use your spouse's income as well as your own? I have decent scores, but my income is way less than my spouse. I feel as if I am being denied credit because of my debt/income ratio rather than scores. 

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4 REPLIES 4
Brian_Earl_Spilner
Credit Mentor

Re: Applying for a credit card-- income question?

You can include any money you have access to which includes your spouse's, alimony, child support and 401k. But if you add that all and send in an income of 150k with the app, be prepared to prove it.

    
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HeavenOhio
Senior Contributor

Re: Applying for a credit card-- income question?

I'd use it unless the application instructions specifically tell you not to.

Message 3 of 5
pipeguy
Senior Contributor

Re: Applying for a credit card-- income question?


@HeavenOhio wrote:

I'd use it unless the application instructions specifically tell you not to.


+1 on that comment.

 

Some credit unions want just the primary member's income, but most credit applications allow for (and most state that) all income you have regular access to - which is typically "combined household" regular and ongoing income that is used for paying obligations. In other words, if you make $50k, your spouse makes $65k, your teenage child has a part-time job that brings $6000 a year and in you won $1500 on a lottery ticket, you'd use $115k as household income (you'd exclude the $1500 lottery prize because its not ongoing, it's a one-time event and unless your child gives you the $6k a year, that would be excluded too). 

Message 4 of 5
Anonymous
Not applicable

Re: Applying for a credit card-- income question?

Usually on the screen where income is asked there is a question mark or FAQ that can be selected which will describe to you exactly what the lender allows you to include when disclosing income. While for the most part it's pretty consistent you will find slight differences among lenders that should probably be considered before submitting income.
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