No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I dont think you have anything to worry about. You paid them and you have good credit.
I would go with income listed on your taxes. Even if it’s lower than reality. You don’t want them to ask for taxes and have your stated income not match. Your SL may suffer a little bit but Amex is very generous with CLI’s.
Once you you are back in with Amex for 6 to 12 months, you can adjust your reported income and not worry about verification.
Good luck!
Moved thread to 'Credit Cards' for addtional exposure.
--UB
"I would go with income listed on your taxes. Even if it’s lower than reality. You don’t want them to ask for taxes and have your stated income not match. Your SL may suffer a little bit but Amex is very generous with CLI’s."
It is pretty smart to do this all the time. And if you do have "other household income" be prepared to show the reciepts. (alimony payments, etc). Inflating incomes for loans, even CCs is never a great idea.
I would base my income on my income not my net taxable income.
Whatever income it would take to pay your bills they way you do now from a regular job would be what I would claim.
I doubt anything under $100k would get flagged and I doubt anything between $100k - $200k would make a huge difference.
I assume it is within 20% anyway and that can be explained.
$5000 per month income (after cogs and related expenses)
$500 car payment paid by company
-------------------------
$3000 taxable
That equals $5500 in my book.
Of course, be smart and side closest to conservative estimates.
GL!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Anonymous wrote:
Yeah obviously inflating income is a bad idea. But my net income and what the government deems taxable are two very different things and both numbers are on my tax returns.
Are you saying I should go with the number the government deems taxable?
Use your AGI (adjusted gross income).
If that’s the case it’s a wonder the billionaires in this country ever get approved for a card 😆
Fun fact: top earners pay more (in actual dollars and in effective tax rate) than any group below them.
@Anonymous wrote:
Hey All!
My wife and I have a pretty unique situation and we are hopeful that someone here can share some insight.
I’ll preface this by letting you all know that it is a long story and there are two main issues, glitchy past payments and current tax return.
Issue #1:
I had an AMEX Gold Delta card 3 years ago and one day we made a payment on the AMEX website from our bank account like normal. A few days later the payment still hadn't come out. We then got a notification that our payment had been rejected by our bank. We chatted with AMEX and they said it must have been stopped by our bank and to contact them.
So we called our bank immediately and asked what gives. The bank said we had plenty in our bank account to cover the payment but they saw no reason why the payment was rejected and said it didn’t happen on their end. We made another payment from AMEX and it went through just fine.
Fast forward a month and the same thing happened again, more than enough to cover it in the bank account and bank said it wasn’t them who stopped it.
We called AMEX and did a sort of conference call with our bank , the AMEX representative admitted that it seemed like an error in their system and told us that it wouldn’t happen again.
Made another payment and it went through.
A week later we made an extra payment to AMEX and it failed again! We decided to start sending the payments from our bank rather than request them from AMEX and sent a payment instead which went through.
Then we got the phone call requesting a financial review and the rep told us that we had an issue with our credit report so they needed income verification.
Having never had so much as a late payment in my history I checked credit karma and low and behold there was a Wells Fargo credit card that showed missed payments for over two years that had just popped up.
It turned out to be part of the Wells Fargo credit card fraud but less than three days after getting the phone call from AMEX requesting our tax forms AMEX had closed my account.
I tried calling in to get them to fix it and explain everything but the rep just said that we could try to apply again but they couldn’t reactivate my account.
I paid off the card and washed my hands of AMEX.
Now it’s almost four years later and I am considering applying for another AMEX gold delta card.
I fear that because of the above story AMEX will request income verification right off the bat.
Which brings me to Issue #2:
My wife and I have run our own business for 5 years now.
We get regular payments from Amazon and Etsy but when it comes to tax time we claim the deductions we are elegible for.
I’m worried the deductions make our taxes look like we make a lot less then we really do.
Will AMEX just look at total income or will they look at taxable income?
Any advice will be a great help.
Thanks!
-Zach
Ps. My credit score is around 730-740 on all systems.
I dunno after being treated that way I pobably would refuse to do business with Amex.