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lowering income on CC Application

JohnKenny
Contributor

lowering income on CC Application

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?

Message 1 of 14
13 REPLIES 13
CreditSweeper
Established Contributor

Re: lowering income on CC Application

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?

Personal Credit -
AMEX: Platinum, Gold, Green, Blue Cash Preferred
PNC: Cash Rewards, Points
BOA: Cash Rewards
NFCU: Flagship Rewards, Cash Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome, IT
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards, Platinum Rewards
Alliant: Visa Signature
Goldman Sachs: Apple Card
BBVA: Clear Points
FNBO: Rewards
Store Cards: Target, Macy’s



Business Credit-
AMEX: Delta Gold, Amazon Prime, Simply Cash Plus
PNC: Visa Business
Synchrony: Lowes
Message 2 of 14
JohnKenny
Contributor

Re: lowering income on CC Application

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

Message 3 of 14
Jnbmom
Community Leader
Senior Contributor

Re: lowering income on CC Application

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

EXP 758 TU 783 EQ 729
Message 4 of 14
Saeren
Mega Contributor

Re: lowering income on CC Application

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. 





Message 5 of 14
AverageJoesCredit
Mega Contributor

Re: lowering income on CC Application

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

 

JkSmiley Wink 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 Smiley Happy

Message 6 of 14
M_Smart007
Epic Contributor

Re: lowering income on CC Application


@AverageJoesCredit wrote:

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

 

JkSmiley Wink 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 Smiley Happy


And here I thought @AverageJoesCredit  you were gonna say;  

 

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

Message 7 of 14
blindambition
Community Leader
Senior Contributor

Re: lowering income on CC Application

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! 😊 

Message 8 of 14
K-in-Boston
Moderator

Re: lowering income on CC Application


@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! 😊 


+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

Message 9 of 14
Meanmchine
Super Contributor

Re: lowering income on CC Application


@AverageJoesCredit wrote:

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

 

JkSmiley Wink 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 Smiley Happy


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


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


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- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

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Message 10 of 14
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