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What income do you report for AMEX

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CreditInspired
Community Leader
Super Contributor

Re: What income do you report for AMEX

Really funny @creditdreamer, like married people don’t break up all the time 😂😁.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 21 of 41
Save-n-Invest
Established Contributor

Re: What income do you report for AMEX

When I called to PC from Blue to BCE I was told that it was necessary to open a new account. The rep at that time wanted a total of my investable assets in addition to income. That sounded a little weird. I provided the income info and some of the assets. I really didn't think my assets were necessary. Maybe the rep was just on a fishing expedition. That should have been my first clue. 

 

When I applied for the BCE there was no question about assets just income. I provided my actual income. No reason to be creative. 

 

Fortunately all other  card issuers were very accomodating with my PC requests. No intrusive qestions. Just a quick phone call and a new card in the mail. 

Message 22 of 41
Creditdreamer
Established Contributor

Re: What income do you report for AMEX


@CreditInspired wrote:
Really funny @creditdreamer, like married people don’t break up all the time 😂😁.

 The only difference is that when people are married they are legally obligated to pay half of whatever debts exist. So I get it for that portion. It just seemed stupid that she told me that. It would have made more sense to say what I said about legal obligation versus just "people break up all the time". Duh...

Starting: EQ 498 TU 501 EX 485 (9/23/11)
As of 5/12: EQ 552 TU 591 EX 572
Credit Repair Journey Bump in the Road
As of 10/15: EQ 511 TU 588 EX 601
Discover TU Fico- 12/31/18: 694; CK EQ- 1/16/19: 634
Goal: All 3 above 700

Message 23 of 41
K-in-Boston
Credit Mentor

Re: What income do you report for AMEX


@Save-n-Invest wrote:

When I called to PC from Blue to BCE I was told that it was necessary to open a new account. The rep at that time wanted a total of my investable assets in addition to income. That sounded a little weird. I provided the income info and some of the assets. I really didn't think my assets were necessary. Maybe the rep was just on a fishing expedition. That should have been my first clue. 

 

When I applied for the BCE there was no question about assets just income. I provided my actual income. No reason to be creative. 

 

Fortunately all other  card issuers were very accomodating with my PC requests. No intrusive qestions. Just a quick phone call and a new card in the mail. 


A large number of lenders ask for assets in addition to income.  (Offhand, I know Discover always asks.)  Amex began asking for that a while back, and they recently added a non-taxable income box as well.  It makes sense.  If you had 20 million in assets but little actual income, you would still expect to be approved for a credit card product!

 

As for the product change, American Express doesn't allow product changes across different rewards programs.  So Blue can be product changed to an EveryDay or EveryDay Preferred card, but not to a cash back card like BCE or a co-branded card like Delta or Marriott.

Message 24 of 41
Shadowfactor
Valued Contributor

Re: What income do you report for AMEX


@Creditdreamer wrote:

@Shadowfactor wrote:
Personally I report our household income unless the creditor specified that only my income is to be used or it’s a joint application.

My fiancée charges things on my credit card and vice versa so her income should be considered as she will be helping repay. We have joint accounts so everything is kept together anyway.

I don’t think a lot of people here would have an issue providing income verification via a paystub.

Most of the resistance revolves around giving a creditor your tax returns. If your single with no dependents. I don’t see how it’s much different then a paystub but if you have a family or children then providing a creditor with tax forms would also give them info on those people as well.

For a note on this. I was FRed by Amex when I had some unusual spending. I had been reporting household income for my fiance and I (our incomes are equal). I asked if the rep wanted his tax returns too as he was in my household. The Amex rep told me "engaged isn't married, people break up all the time". So while technically that is my household income and he charges things on my credit cards, Amex doesnt consider fiances as a basis for repaying debt as there's no legal obligation for them to pay anything. I thought it was a bit funny she told me people break up. Like "hmmm really? do they? I had no idea..."


Interesting.

from other reports that I’ve seen from FR. It seems that will accept joint bank statements. 

 

We we only have joint bank accounts and pay all bills through those so they are considered assets. 





Total Revolving Limits $254,800

Message 25 of 41
Creditdreamer
Established Contributor

Re: What income do you report for AMEX


@Shadowfactor wrote:

@Creditdreamer wrote:

@Shadowfactor wrote:
Personally I report our household income unless the creditor specified that only my income is to be used or it’s a joint application.

My fiancée charges things on my credit card and vice versa so her income should be considered as she will be helping repay. We have joint accounts so everything is kept together anyway.

I don’t think a lot of people here would have an issue providing income verification via a paystub.

Most of the resistance revolves around giving a creditor your tax returns. If your single with no dependents. I don’t see how it’s much different then a paystub but if you have a family or children then providing a creditor with tax forms would also give them info on those people as well.

For a note on this. I was FRed by Amex when I had some unusual spending. I had been reporting household income for my fiance and I (our incomes are equal). I asked if the rep wanted his tax returns too as he was in my household. The Amex rep told me "engaged isn't married, people break up all the time". So while technically that is my household income and he charges things on my credit cards, Amex doesnt consider fiances as a basis for repaying debt as there's no legal obligation for them to pay anything. I thought it was a bit funny she told me people break up. Like "hmmm really? do they? I had no idea..."


Interesting.

from other reports that I’ve seen from FR. It seems that will accept joint bank statements. 

 

We we only have joint bank accounts and pay all bills through those so they are considered assets. 


Mine wasn't for bank account balances. They wanted tax returns. They didn't seem interested in any assets or anything (and we only have joint accounts as well).

Starting: EQ 498 TU 501 EX 485 (9/23/11)
As of 5/12: EQ 552 TU 591 EX 572
Credit Repair Journey Bump in the Road
As of 10/15: EQ 511 TU 588 EX 601
Discover TU Fico- 12/31/18: 694; CK EQ- 1/16/19: 634
Goal: All 3 above 700

Message 26 of 41
Anonymous
Not applicable

Re: What income do you report for AMEX

I report my annual salary and the taxable bonus I received.

Message 27 of 41
J-F168
Frequent Contributor

Re: What income do you report for AMEX

Op, when i used to have amex ( before bk)  and now I am always reporting my real income and several time I was hit by POI ( to provide paystubs ) if the bank / credit union is well established I will and I did and sometimes I am the oe who's asking to send/provide my finacial status/ salary in order to get a higher limit. Hope that helps ad I wish you to get with Amex. I hope to get back with them. When amex was partener with costco they did a FR ( fiancial rewiew on me and increase my limit after I provided requested docs).

Best of luck!

J

EX 716 - EQ 707 - TU 724
BK 7 D/C Dec '16.
Message 28 of 41
Anonymous
Not applicable

Re: What income do you report for AMEX


@Creditdreamer wrote:

@Shadowfactor wrote:
Personally I report our household income unless the creditor specified that only my income is to be used or it’s a joint application.

My fiancée charges things on my credit card and vice versa so her income should be considered as she will be helping repay. We have joint accounts so everything is kept together anyway.

I don’t think a lot of people here would have an issue providing income verification via a paystub.

Most of the resistance revolves around giving a creditor your tax returns. If your single with no dependents. I don’t see how it’s much different then a paystub but if you have a family or children then providing a creditor with tax forms would also give them info on those people as well.

For a note on this. I was FRed by Amex when I had some unusual spending. I had been reporting household income for my fiance and I (our incomes are equal). I asked if the rep wanted his tax returns too as he was in my household. The Amex rep told me "engaged isn't married, people break up all the time". So while technically that is my household income and he charges things on my credit cards, Amex doesnt consider fiances as a basis for repaying debt as there's no legal obligation for them to pay anything. I thought it was a bit funny she told me people break up. Like "hmmm really? do they? I had no idea..."


People get divorced all the time.  And I am sure a not insignificant percentage of bankruptcies are due to divorces. 

Message 29 of 41
UncleB
Credit Mentor

Re: What income do you report for AMEX


@Creditdreamer wrote:

@CreditInspired wrote:
Really funny @creditdreamer, like married people don’t break up all the time 😂😁.

The only difference is that when people are married they are legally obligated to pay half of whatever debts exist. So I get it for that portion. It just seemed stupid that she told me that. It would have made more sense to say what I said about legal obligation versus just "people break up all the time". Duh...


Not to nitpick, but the part in blue generally only applies to community property states. 

 

People in non-community property states are usually not legally obligated to pay for their spouse's debts unless they are on the account as a joint accountholder or cosigner.

 

(Note that I used generally and usually above, since there might be some exceptions based on one's state laws.)

Message 30 of 41
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