Good question??

[ezef3ar]

Honestly it's not worth it.... I'm sure creditors don't like that. Why take the risk Better be safe then sorry..... and yea got off topic lol.

[Anonymous]

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@ezef3ar wrote:
What are you scores any baddies utilization inquiries. Other credit cards and what limits.. !!!! Lol. You will get it be patience... Post the results of the CSP. And good luck to you i hope you get it

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my experian fico is 739. Credit karma is 749 and credit sesame is 709. No baddies and the credit cards that are listed in my sig. AAoA is 2 year 4 months and I also have student loans. Only working against me is no cards with a cl > 5,000. Thanks I may need all the luck I can get. 

[TheConductor]

I am not a lawyer. However, it bears saying that there is a larger concern here than "What will the creditors think?" or "Can I get a bigger credit limit or better card by overstating my income?"

Again, I am not a lawyer, but by my interested amateur's understanding of the law it is an act of fraud to knowingly lie on an application for credit. That is a prosecutable offense with the potential for significant penalties. It is an action I would neither advise nor condone.

More on credit application fraud:

http://www.cardratings.com/will-a-little-white-lie-hurt-your-credit-application.html

http://www.creditcards.com/credit-card-news/legal-consequences-of-lying-on-credit-card-application-f...

[mikka1]

Personally I've never provided any false information during the credit card application, but I have a relative who does it all the time and I fully understand why she is doing so - as far as I see, according to new CARD Act you can only count on your personal income in the application and it basically eliminates any chances to build a proper credit history for ALL stay-at-home moms and dads on their own (yes, they can obviously become an authorized user with their spouse's card, but in case of unexpected break-up / divorce and closure of all their cards by the main user that might lead them to a very nasty situation of not having any credit at all in their name). 

I truly think it's not fair to all those people to be ineligible for literally ANY card product, and while I might not support their decision from the sole perspective of it being a fraud to some extend, I don't see any other option for stay-at-home moms/dads to get any credit in their name other than stating *some reasonable* figure in an income field of an application even if in reality they earn nothing on their own.

[Cadillac-XTS]

So many good points addressed within this thread

[Anonymous]

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@mikka1 wrote:

Personally I've never provided any false information during the credit card application, but I have a relative who does it all the time and I fully understand why she is doing so - as far as I see, according to new CARD Act you can only count on your personal income in the application and it basically eliminates any chances to build a proper credit history for ALL stay-at-home moms and dads on their own (yes, they can obviously become an authorized user with their spouse's card, but in case of unexpected break-up / divorce and closure of all their cards by the main user that might lead them to a very nasty situation of not having any credit at all in their name). 

I truly think it's not fair to all those people to be ineligible for literally ANY card product, and while I might not support their decision from the sole perspective of it being a fraud to some extend, I don't see any other option for stay-at-home moms/dads to get any credit in their name other than stating *some reasonable* figure in an income field of an application even if in reality they earn nothing on their own.

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+1

[TheConductor]

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@mikka1 wrote:

I truly think it's not fair to all those people to be ineligible for literally ANY card product, and while I might not support their decision from the sole perspective of it being a fraud to some extend, I don't see any other option for stay-at-home moms/dads to get any credit in their name other than stating *some reasonable* figure in an income field of an application even if in reality they earn nothing on their own.

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Yeah, this was an effect of the CARD act that seemed completely out of step with both the times and any reasonable sense of fairness.

But the good news is that the new CFPB appears to be working on fixing it:  http://www.dailyfinance.com/2012/09/24/stay-at-home-spouses-will-once-again-get-the-credit-they-dese...

Until then, I still can't say I would advise fraudulent apps, but I can thoroughly understand in this case why they might be happening.

[mxp114]

The big issue is bankruptcy, if you obtained credit and subsequent debt by misleading lenders about your income, your filing can be denied and you will owe the money. Otherwise it seems like banks don't care or they would take steps to verify income more prior to extending higher limits.