Reported income question

[Marcos8]

I currently underreport my yearly gross income to my cc's and I use my income only, not my wife's. My question is:

When married filing jointly what figure do I use to report income to my credit cards during the CLI process or new app process? 

A) Just continue to use my own income and under report my yearly gross 

B) Just continue to use my own income and report my weekly net x 52

C) Use both my wife's and my own weekly gross x 52

D) Use both my wife's and my own weekly net x 52

E) Use my AGI from my most recent jointly filed tax return

Thanks! 

[Anonymous]

You may use all household income if you have reasonable access to both incomes.

[Marcos8]

That part I get but when it comes to all household income does that reference gross, net, or yearly adjusted figures?

[Anonymous]

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@Marcos8 wrote:

That part I get but when it comes to all household income does that reference gross, net, or yearly adjusted figures?

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Typically gross unless otherwise specified 

[CountryLivin]

Gross income!

[Anonymous]

Reported income involves ALL hosuehold incomes? What if someone lives with roomates that have zero other relation to the person applying? 

[thummel]

I go usually by household income but I go by a rule of thumb. If you don't have access to it or you can't prove it don't put it in there. Obviously if you have a roommate that has zero relation and doesn't support YOU financially in any way I wouldn't include it.

[Anonymous]

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@Anonymous wrote:
You may use all household income if you have reasonable access to both incomes.

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Put whatever you want. You can put 5 million a year if you want. Now if they ask u to verify for approval might have a problem if it's not true. If I were u I'll just report own unless u have access to ur wife money for paying ur credit card bill

[disdreamin]

I file jointly with my SO and we share our checking and savings accounts, as well as bills and credit cards, so I include both our incomes when allowed.

[UncleB]

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@Anonymous wrote:

Reported income involves ALL hosuehold incomes? What if someone lives with roomates that have zero other relation to the person applying? 

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Obviously a little common-sense is in order here. 

If you have roommates I would not include their income on a credit app unless you also have reasonable access to their deposit accounts and investments, in which case they are likely more than just a 'roommate' and including their income would be fine.