lowering income on CC Application

[Anonymous]

Say I want to apply for a credit card and want to get a lower limit but I make decent money, can I lowball and put that I make less then I really do on a CC application to receive a lower CL?  I know it's bad to lie and put you make $100,000 when in reality you make $20,000 but what are the drawbacks of me low balling my income?

[Anonymous]

Why not just list your accurate info and if you get a limit higher than you want, just give them a call and ask them to lower it?

[Anonymous]

They will do that? I wasn't sure if they would do that. 

[Jnbmom]

Not sure why the want to put a "lower" income?

Also remember just because you have a higher income, doesn't always net you higher SLs

[Anonymous]

Don't bother. Many banks and CUs are comfortable with you having half your income in limits with them and many are even okay with substantially more. I have $20K in credit with NFCU and ~$18.6K income. Synchrony and Capital One both have approved me for $10K limits right out of the gate despite my low income. If you truly don't want a large limit, contact them after the fact and ask for a CLD. Most will do it. 

[AverageJoesCredit]

I think this is a first in myFico history...someone wanting to apply and get a lower sl 

Jk well maybe.

A good card to get that might land you a low sl would be Amazon or Paypal MC from Sync. Some recent approvals have been seen as low as $300 or $150

[M_Smart007]

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@AverageJoesCredit wrote:

I think this is a first in myFico history...someone wanting to apply and get a lower sl 

Jk well maybe.

A good card to get that might land you a low sl would be Amazon or Paypal MC from Sync. Some recent approvals have been seen as low as $300 or $150

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And here I thought @AverageJoesCredit  you were gonna say;  

  "Just apply for Sir Barclay & wait for the CLD" 

[blindambition]

You can ask for decrease after approval, but I'd give accurate income.I have asked for decrease on accounts that end with odd numbers like 5700, 10300, 15700. They screw up quick calculation! 😊 

[K-in-Boston]

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@blindambition wrote:

You can ask for decrease after approval, but I'd give accurate income.I have asked for decrease on accounts that end with odd numbers like 5700, 10300, 15700. They screw up quick calculation! 😊 

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+1.  Roll the dice and adjust if needed.

And just my luck, I asked Chase to keep $700 a while back when moving around limits and then they gave me an auto CLI that messed up my even thousands.  LOL

[Meanmchine]

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@AverageJoesCredit wrote:

I think this is a first in myFico history...someone wanting to apply and get a lower sl 

Jk well maybe.

A good card to get that might land you a low sl would be Amazon or Paypal MC from Sync. Some recent approvals have been seen as low as $300 or $150

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I asked Comenity to lower my HSN card once because I was concerned of my high perceived exposure with them at the time