@lhcole77 wrote:
@Anonymous wrote:What is the best way to state income on an AMEX application? I head they like to review people and close account, so I don't want to get anything wrong.
Do you go off your prior year or estimate for current year.
I had both 1099 and W2 income in 2019. Would I just add up the 1099 income and the total wages of my last paystub, or should I be taking something off of my taxes like gross or adjusted gross.
If you are single, I'd report gross income from all sources.
If you are married or in a relationship that allows you access to your honey bunny's money, I'd report gross income for both of you.
If you file a joint return. Can be dicey depending on the lender (Discover for sure) otherwise. If you file by yourself you should stick with just your income.
Generally speaking reporting less than what you have access to will perhaps put a delay in getting larger limits, but overestimating will get your account closed. Plenty of low income folks here with big credit limits.
@Jnbmom wrote:
@lhcole77 wrote:
@Jnbmom wrote:If you are married then yes you can include , I would however NOT claim someone you are in a relationship with , bad advice .
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.
Yes but you will run into problems with Amex for sure........................................
And Discover.
