Can I reasonably consider this "income?"

[skigirl916]

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@Anonymous wrote:

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@skigirl916 wrote:

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@CreditCuriousity wrote:

Damn I should put my roommates income on my application since we live in the same househould.. Our combined household income is in excess of 300k.. Imagine the creditlines I could get?  Anyways, we each have our opinion and I respect that, best of luck OP either way.

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If I can include someone I can "reasonably rely upon" to help me financially, I could include my BF and all my friends.  So, my income is well over $10M.

And if just including my BF, it's like $750K. 

I can only imagine the CLs I'd get if I followed the "use your parents' income" rationale...

Imagine a 20 year old with the income of both his parents.  While in college.  Hmm.

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750k, Nice.

Real estate?

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Close. Mortgage industry. Owner.

And I still rent. But he's here enough... that should count, right? I need that Centurion...  

[Anonymous]

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@skigirl916 wrote:

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@Anonymous wrote:

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@skigirl916 wrote:

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@CreditCuriousity wrote:

Damn I should put my roommates income on my application since we live in the same househould.. Our combined household income is in excess of 300k.. Imagine the creditlines I could get?  Anyways, we each have our opinion and I respect that, best of luck OP either way.

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If I can include someone I can "reasonably rely upon" to help me financially, I could include my BF and all my friends.  So, my income is well over $10M.

And if just including my BF, it's like $750K. 

I can only imagine the CLs I'd get if I followed the "use your parents' income" rationale...

Imagine a 20 year old with the income of both his parents.  While in college.  Hmm.

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750k, Nice.

Real estate?

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Close. Mortgage industry. Owner.

And I still rent. But he's here enough... that should count, right? I need that Centurion...  

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His money is your money, and your money is your money, so yeah... follow other's logic and apply 4 dat centurion!

[Anonymous]

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@skigirl916 wrote:

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@Anonymous wrote:

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@skigirl916 wrote:

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@CreditCuriousity wrote:

Damn I should put my roommates income on my application since we live in the same househould.. Our combined household income is in excess of 300k.. Imagine the creditlines I could get?  Anyways, we each have our opinion and I respect that, best of luck OP either way.

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If I can include someone I can "reasonably rely upon" to help me financially, I could include my BF and all my friends.  So, my income is well over $10M.

And if just including my BF, it's like $750K. 

I can only imagine the CLs I'd get if I followed the "use your parents' income" rationale...

Imagine a 20 year old with the income of both his parents.  While in college.  Hmm.

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750k, Nice.

Real estate?

---

Close. Mortgage industry. Owner.

And I still rent. But he's here enough... that should count, right? I need that Centurion...  

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Makes sense. Markets went nuts in town this year and people I know that barely squeaked by $200,000 last year are set to clear 4-5 times that this year.

I'm in the wrong business.

[sccredit]

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@juggar wrote:

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@sccredit wrote:

I strongly disagree with the assertion that it is reasonable to include your parents income.  

A Reasonable Expectation can be seen as access to a spouse or live in partner's income, not parents, children, etc.  That is not a stretch, IMO it is flat out dishonest.

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"household income" means just that. It cannot be argued. If some person lives in your house and you can count on them then that means its ok to use their income. 

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You are 100% INCORRECT.  I strongly strongly suggest that you read the CARD Act and understand what they mean by it, they spell it out very clearly.  

[Anonymous]

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@Anonymous wrote:

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Makes sense. Markets went nuts in town this year and people I know that barely squeaked by $200,000 last year are set to clear 4-5 times that this year.

I'm in the wrong business.

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well... there's always MS

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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Makes sense. Markets went nuts in town this year and people I know that barely squeaked by $200,000 last year are set to clear 4-5 times that this year.

I'm in the wrong business.

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well... there's always MS

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Ice cream won't get me where I want to be!

[Anonymous]

question. why not just apply for discover it student card? or does it have the same 10k income requirement?

[Anomalous]

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@skigirl916 wrote:

Y'all need to read the actual terms of the 2009 CARD Act. The original Act required CCCs only to look at an individual's ability to pay - that is, personal income, not household income.

The subsequent amendments which ease that requirement allows spouses and unmarried partners who are 21 or older and don’t work outside the home, apply for credit based on shared income.  It's specifically designed for spouses/partners who stay-at-home, not for employed children who rely on money from their parents. 

Essentially, it's household income from a taxable standpoint - the way a married or domestic partnership would consider income.  Not the OP or others in this thread saying they do it.

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+1

[CreditCuriosity]

Thank you for citing the 2009 CC ACT.   Crickets.

[Imperfectfuture]

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@CreditCuriousity wrote:

Thank you for citing the 2009 CC ACT.   Crickets.

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Lol.