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Combining Income

BigNoad
Valued Member

Combining Income

Please feel free to move this to another location if better suited!

 

In a nutshell.... My SO and I recently moved into an apartment together. We do not have intentions of combinding any accounts but wondering if there was any reason not to update my income profile with my creditors to include her income as well?

 

She recently graduated and has been given a VERY significant increase now and another once she passes her boards. This would take income from ~$89,000 -> $155,000 -> $170,000 which I can't think would not be helpful in increase my limits on current cards assuming all other factors are in order?

 

I already had to provide income verification on my recent CFU (opened 3/18/21). Not sure if this large of an increase would trigger another review or first review with Discover (No income verification requested for Discover)? I plan to apply for CSP in October/November.

 

She currently has a couple Chase cards. Not sure if this would have an influence at all?

 

*EDIT: No issues providing POI. We have discussed this together already as well.

Message 1 of 6
5 REPLIES 5
Slabenstein
Valued Contributor

Re: Combining Income

You could update it with any issuers that 1) accept HHI, 2) accept such proof of HHI as you could provide if asked, and 3) would accept such a recent change in income.  As an example, Discover does allow you to use income from another person that is available to you if you are over 21, but they use tax returns as POI.  This means that the primary way you can prove HHI to them is if you are married and filing jointly.  Since they're looking at returns, a new pay raise wouldn't be visible to them, and, if they were to request POI before about August, the previous year's income wouldn't be either, and they'd be looking at your income 2 & 3 years ago.  That's, ofc, just Discover, so what I would recommend is researching each of your issuers on these points and then using whatever amount you could prove to them on their terms if asked.


Message 2 of 6
rostrow416
Frequent Contributor

Re: Combining Income

Just use whatever number you expect to use on your tax returns.  

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Message 3 of 6
805orbust
Established Contributor

Re: Combining Income

Agree with @rostrow416 , and I would say if you're not married, use your own income only.

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Message 4 of 6
BigNoad
Valued Member

Re: Combining Income

Thanks for the replies! I'll stick to just my income. I feel I still have a good ways to go before my income starts holding me back on CL amounts anyways.

Message 5 of 6
Shooting-For-800
Senior Contributor

Re: Combining Income

Maybe use some of her income if yours is much lower.

You don't have to use all of it.

If you make 50 and she makes 150 no reason to not use 100 or 150 as HHI.

This could easily be defended.

Household income is not married income.

If you have a great income, I would not worry about it.

JMO.

 

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