Income?

[Anonymous]

Hi all,

I am interested in at some point apping for prime cards like amex and chase, i was wondering if i can include all household income in the application or just my own personal income. 

[Anonymous]

All lot of credit card companies now let you use your household income.

[Anonymous]

Most applications will let you include all

[fullstackdev]

Most applications will let you use your personal income and if you're over 21 most will allow you to include another person's income that is usually used to pay your bills. Good luck with your applications in the future!

[Anonymous]

I applied yesterday with AMEX and it let me put in Household income. I also applied with cap one and put in household income. Even with one of the companies, they asked for personal, I still listed household since we share the same account. Would probably had an issue if they asked to verify bu they didnt...

[Anonymous]

eventhough you put xxx amount of income, they dont get it 100%. 

they first look at bureau report, and make "modeled income" which calculates based on your history

[Anonymous]

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@Anonymous wrote:

eventhough you put xxx amount of income, they dont get it 100%. 

they first look at bureau report, and make "modeled income" which calculates based on your history

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Can you please explain this a little bit?

[Anonymous]

When they pull a report they can see all of your debts what's your minimum payments are what the highest amount that account has ever been and make a guess of how much you pay every month. If you make a Sh-ton of money there should be no reason why you have 4 5 6 credit cards hanging around with $800 balances and so on. A credit pull is a snapshot but if they have been soft pulling a lot they can keep them and build the history on you

[SpiceIslander]

I suggest going with what the application requests. If it asks for household, use household. If it requires personal, use personal.

[Anonymous]

your credit report should have your employment information as well as income information.

credit card companies have their model to calculate personal income because what you write/type can be inaccurate 

(say you enter $100k income when you only have $50k income, they should have way to verify because it can bring huge loss)