How to state income on AMEX application.

[Jnbmom]

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@CreditCrusader wrote:

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@Anonymous wrote:

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@lhcole77 wrote:

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@Jnbmom wrote:

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If you are married then yes you can include , I would however NOT claim someone you are in a relationship with , bad advice .

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Not bad advice, just different advice.

If I have a boyfriend or partner and we have been together for years, sharing the bills, etc, you better believe I will think about adding his income to mine if I have reasonable access to it and I am over 21.

According to an amendment to the Card Act, borrowers over 21 can list any income to which they have “reasonable expectation of access.”

This broad definition includes:

Personal income.

Income from a spouse or partner.

Allowances and gifts.

Trust fund distributions.

Scholarships and grants.

Retirement fund distributions.

Social Security income.

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There's the law and there are the ways the companies choose to implement the law. Nothing says they can't make restrictions tighter than the law, they just can't make them looser. AMEX and Disco are both known to request 4506-T and they can't see that other income there. Best practice is to just use your own income if you're not married filing jointly and make sure it's the same number that is on your last available tax return (generally the current year if it's after August, previous year if it's before August) so that you never run afoul of verification. Sometimes these companies can be ruthless when they can't verify income. Just take a look at all the posts about Discover's 4506-T process. 

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THIS

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Exactly  my point.

[lhcole77]

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@Jnbmom wrote:

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There's the law and there are the ways the companies choose to implement the law. Nothing says they can't make restrictions tighter than the law, they just can't make them looser. AMEX and Disco are both known to request 4506-T and they can't see that other income there. Best practice is to just use your own income if you're not married filing jointly and make sure it's the same number that is on your last available tax return (generally the current year if it's after August, previous year if it's before August) so that you never run afoul of verification. Sometimes these companies can be ruthless when they can't verify income. Just take a look at all the posts about Discover's 4506-T process. 

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THIS

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Exactly  my point.

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Well I stand corrected. You have shamed me into forgiveness.

[Jnbmom]

Shamed??

The OP asks specifically about income regarding AMEX, it was pointed out given AMEX's history on here with 4506-T which is an individual's tax return it's best to use the income you can prove by your tax forms.

Just trying to save the OP in case this would ever happen to them .

[Remedios]

FSR, please. It's not optional.