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Amex FRs

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Amex FRs

I am 21 years old and really interested in the American Express gold card. My dad still currently pays my car insurance bill (yes I know I need to start paying) but does that mean I’m allowed to add his income as well in the application? And if I can, what if Amex hits me with a FR? Do I only have to prove my income? Or both mine and my dads?
Message 1 of 12
11 REPLIES 11
Community Leader
Senior Contributor

Re: Amex FRs


@Zac1156 wrote:
I am 21 years old and really interested in the American Express gold card. My dad still currently pays my car insurance bill (yes I know I need to start paying) but does that mean I’m allowed to add his income as well in the application? And if I can, what if Amex hits me with a FR? Do I only have to prove my income? Or both mine and my dads?

Just because your dad pays your car insurance does not mean that you have readily access to his income. I would put your own personal income. Alot of people do put "household" income but that is normally used for married couples and live in couples.

EXP 763 TU 793 EQ 734
Message 2 of 12
Regular Contributor

Re: Amex FRs

 


@Jnbmom wrote:

@Zac1156 wrote:
I am 21 years old and really interested in the American Express gold card. My dad still currently pays my car insurance bill (yes I know I need to start paying) but does that mean I’m allowed to add his income as well in the application? And if I can, what if Amex hits me with a FR? Do I only have to prove my income? Or both mine and my dads?

Just because your dad pays your car insurance does not mean that you have readily access to his income. I would put your own personal income. Alot of people do put "household" income but that is normally used for married couples and live in couples.


i just found out about the household income recently. should i even bother updating my income with card issuers (ones i already have cards with)? would there be questions asked since the household income will be double of what i've reported?

 

i realize a bunch of other factors are involved with applications but in which case would correcting my income be beneficial for?

 

 



In my wallet:


In my desk:
Message 3 of 12
Community Leader
Super Contributor

Re: Amex FRs


@kudosalert wrote:

 


@Jnbmom wrote:

@Zac1156 wrote:
I am 21 years old and really interested in the American Express gold card. My dad still currently pays my car insurance bill (yes I know I need to start paying) but does that mean I’m allowed to add his income as well in the application? And if I can, what if Amex hits me with a FR? Do I only have to prove my income? Or both mine and my dads?

Just because your dad pays your car insurance does not mean that you have readily access to his income. I would put your own personal income. Alot of people do put "household" income but that is normally used for married couples and live in couples.


i just found out about the household income recently. should i even bother updating my income with card issuers (ones i already have cards with)? would there be questions asked since the household income will be double of what i've reported?

 

i realize a bunch of other factors are involved with applications but in which case would correcting my income be beneficial for?

 

 


Do you have access to the household income (ex. Husband & wife)?

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 12
Community Leader
Super Contributor

Re: Amex FRs


@Zac1156 wrote:
I am 21 years old and really interested in the American Express gold card. My dad still currently pays my car insurance bill (yes I know I need to start paying) but does that mean I’m allowed to add his income as well in the application? And if I can, what if Amex hits me with a FR? Do I only have to prove my income? Or both mine and my dads?

IMHO, this would be a slippery slope and one you don’t want to go down. It does not sound like you have access to DD income if he is paying your car insurance. 

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 5 of 12
Valued Contributor

Re: Amex FRs

As mentioned above, IMO that does not qualify for including his income on a CC application.

An example would be you add your father as an AU, he makes charges on a consistent basis and pays you directly for those charges. At that point it would be reasonable to include SOME of his income. I would only include the average of what was charged monthly.




Total Revolving Limits $229,300

FICO 8 scores 04/2019
EX-778
TU-714
EQ-716
Message 6 of 12
Community Leader
Senior Contributor

Re: Amex FRs

We still pay our daughters car insurance ( while she is in college)

 

Does she claim our income as hers, ummm NO she does not.

EXP 763 TU 793 EQ 734
Message 7 of 12
Community Leader
Super Contributor

Re: Amex FRs


@CreditInspired wrote:

@kudosalert wrote:

 


@Jnbmom wrote:

@Zac1156 wrote:
I am 21 years old and really interested in the American Express gold card. My dad still currently pays my car insurance bill (yes I know I need to start paying) but does that mean I’m allowed to add his income as well in the application? And if I can, what if Amex hits me with a FR? Do I only have to prove my income? Or both mine and my dads?

Just because your dad pays your car insurance does not mean that you have readily access to his income. I would put your own personal income. Alot of people do put "household" income but that is normally used for married couples and live in couples.


i just found out about the household income recently. should i even bother updating my income with card issuers (ones i already have cards with)? would there be questions asked since the household income will be double of what i've reported?

 

i realize a bunch of other factors are involved with applications but in which case would correcting my income be beneficial for?

 

 


Do you have access to the household income (ex. Husband & wife)?


This. If you don't have ready access to the funds, you can't claim it. For example, if you have a 401k that allows you to take general purpose loans, you can add it as other income. But if you have a 401k that you can't touch, you can't add it as income. Some lenders will have a separate category just for something like that.







Message 8 of 12
Super Contributor

Re: Amex FRs

Parental income is generally specifically excluded unless they give you cash. For example, if you're in college and your parents give you your tuition to pay for it, that counts as income but only if they give it to you and you spend it because this is considered a gift. 

A good rule to go by is if it's a joint account or the money goes into your personal account, it can generally be counted as income on a credit application. 

 

https://www.creditcardinsider.com/blog/annual-income-for-credit-card-applications-everything-you-nee...



01/2019:
1/2020:

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Goal cards: Cash+, Freedom.
Message 9 of 12
Community Leader
Super Contributor

Re: Amex FRs


@Jnbmom wrote:

We still pay our daughters car insurance ( while she is in college)

 

Does she claim our income as hers, ummm NO she does not.


Exactly! And I’m sure if she did and you found out about it, there would be hell to pay. 😂🤣😆. I know I would go bonkers!

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 10 of 12
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