• Go to page :
  • 1 2
  • Text Only
Voting History
rated:
Do they really check your annual income? Can I just say I make more than I actually do, so I can qualify for their card?

poohead said:

<< Do they really check your annual income? Can I just say I make more than I actually do, so I can qualify for their card? >>

Your handle says it all

<img src="i/expressions/face-icon-small-confused.gif"border=0>

Try looking in the FAQ thread and searching, for a start.

FAQ THREAD
http://www.fatwallet.com/forums/forum.php?catid=52&threadid=200596

CREDIT CARD FAQ THREAD
http://www.fatwallet.com/forums/forum.php?catid=52&threadid=158558

This has come up in the past.

From the MBNA credit card agreement:
"
.
AGREEMENT
I have read the terms and pricing disclosures for this account and by electronically transmitting this application, I indicate my agreement with each of the terms and conditions. I understand that I will be bound by each of the terms of the Credit Card Agreement, including arbitration.

I have read this application, and everything I have stated is true.

poohead said:

<< Do they really check your annual income? Can I just say I make more than I actually do, so I can qualify for their card? >>



From my experience, they don't care as long as you pay your bills and use the card responsibily. They will only do a quick check on your credit score and that's all. I've successfully applied for Amex, Visa and MC as a full-time student with "annual income of $30k". <img src="i/expressions/face-icon-small-smile.gif"border=0>

I actually had an auto refi turned down because I lied on my income... but now they don't even ask. Definitely depends on your credit score... and just dont go putting you make $250,000 unless you can prove it.

I thought it was a federal crime to lie on a loan application?

The worst that'll happen if they figure it out is they'll deny the card. No one has the time to go after you nor do they care esp. if you need to make 15-20k to qualify. It's not worth their time and it's difficult to prove. They have better things to do e.g. thinking up how to rip you through interest calculation schemes (check discover).

You can add to your actual income when asked for household income. Add all members of household. If you are applying for the first time and list a job as a place of employment (with a real phone) they may call and find out from some cretin even though your employer is not supposed to disclose your income. Best to list a work no. that you control, or be self-employed (the negatives of self-employment are that it might be harder to get credit esp. if there is no established history and you might be asked for proof). Start small and slowly increase every time you apply.


Credit card stuff is never enforced if you pay your bills. It gets trickier if you lie on a mortgage app and then screw up the payments. It also becomes trickier if you charge several 100k and then bail.

Once you establish a good credit history, pay the bills, no one cares too much or checks.

I've lied a bunch of times on applications. When I was a student I'd put down 50k a year.

teplitsa said:

<< I thought it was a federal crime to lie on a loan application? >>



you really think the Federal Gov't is going to spend $250,000 to get a conviction against you because you lied on a Discover card application?

It's not good to lie; you may get used to it and begin to like it and want to make a living off of lying like our revered political, business, religious, and civic leaders.

don't lie. it may kick back one bad day when you least expect it...
.02

remember that theres a DIFFERENCE between outright lying (ie you just make up a number) vs. having a rational basis for the (generous) income figure you list on an app...

Income can include scholarship money, child/spousal support, and other money you receive...Also, they usually ask for HOUSEHOLD income,,,well that means adding mom and pops incomes (from work, investments, stock sales, rentals, social security, etc) would NOT be lying. If you live in an apartment with roomates, your roomates would be part of your " household", so it would make sense to include their incomes too...

since the CC companies dont strictly define who you can and cannot count, use the most liberal interpretation to present the strongest financial picture. But be REASONABLE, and have a legitimate basis for coming up with the $$. Dont make the # too high if you are young.....my rule when I was under 25 was that I listed no more than what I COULD earn if I was working full time in a good job (so for example, if my parents made $80k each, I wouldnt list $160k income at age 18..id list 30-40k, which is what I ALONE could have earned in a good paying job at that age (and the figure COULD be backed up if needed by my parents amount of support).

In the real world, they DONT normally verify employment or income. The statement above that "No one has the time to go after you nor do they care" is true AS LONG AS YOU DONT DEFAULT. If you ever file for BK or dont pay your CC bill, you will want to be sure you can back up the statements made on your application (remember, loans obtained through misrepresentation are NOT dischargeable in BK!)

Yes ma'am, i'll never lie again...

I've been reading FW for about a year now and it seems like a lot of these deals involve little itty bitty white lies. I guess that means we're all sinners.

iamadonut said:

<< I've been reading FW for about a year now and it seems like a lot of these deals involve little itty bitty white lies. >>


speak for yourself

DeGlass said:

<< iamadonut said:

<< I've been reading FW for about a year now and it seems like a lot of these deals involve little itty bitty white lies. >>


speak for yourself
>>



Sorry Donut, what white lies are you referring to exactly? Did you ever actually take the time to READ what the CC app asked of you? When you were a student and you put down 50k income, that may be perfectly legitimate if, say, your parents earned that much, as long as the credit card app asked you to list HOUSEHOLD income...

I pointed out how to answer a credit card app truthfully, by answering the question the company is asking (rather than the one they arent asking)...If a credit card app asks you to list HOUSEHOLD income, they are NOT asking you to indicate your personal income. Thats a black and white fact, no lies involved.

Some credit cards get more detailed, and have separate boxes asking for salary/personal income, other income, etc., but the majority only ask for household income. Thats very different from a home/car loan that specifically asks you to state your salary...

No, I lied on my CC apps, plain and simple. The card was for me, not household. I needed a cc, I wasn't making jack, so I did it. Now my fico is over 720, never missed a payment, don't carry a balance. I'm not saying what i did was "legal," but I'm just saying to the OP that the thought police won't bang down your door in the middle of the night and start reading you your rights.

Apparently I'm the only one that lies here...so maybe you shouldn't take my advice. <img src="i/expressions/face-icon-small-wink.gif"border=0>

The short answer is not to lie outright. Seriously, what you are doing falsifying a sworn statement. Just because the law doesn't go after the vast majority of those that falsely execute an oath, doesn't mean that you won't pop up as a public example. Don't outright lie when executing a sworn statement! That said, the others are correct when they include the entire household income. The credit issuer may mean your personal income but, unless they specify same, you have may interpretive wiggle room.

Almost everything in life will not have black-or-white/one correct answers. Some people are just good at seeing every single wiggle room opportunity that they are presented and instinctively know how to exploit it to their advantage. Even politicians and leaders of government and business do it, so answering GROSS or HOUSEHOLD in your favor is just one of those things. Moral or immoral? Sometimes I think it is just par for doing business in our country. When motivated by self-interest and greed do you expect human nature to interpret less than generous?

My own confession: I report GROSS income to be GROSS self-employment income and GROSS rental income. Of course incomes are in the six-figures when calculated this way. I have never been challenged on this (except once, but that was to verify our income as reported to IRS.)

if they wanted your EXACT work income, they would ask you for it IMO.

Donut,
You have been really bad and will probably end up in hell being spanked for eternity (by playboy bunnies). Just because something is not illegal or is not enforced does not mean that your resident higher power/deity isn't keeping track of everything including this kind of outright lying. How can you live with yourself. <img src="i/expressions/face-icon-small-smile.gif"border=0>

iamadonut said:

<< No, I lied on my CC apps, plain and simple. The card was for me, not household. I needed a cc, I wasn't making jack, so I did it. Now my fico is over 720, never missed a payment, don't carry a balance. I'm not saying what i did was "legal," but I'm just saying to the OP that the thought police won't bang down your door in the middle of the night and start reading you your rights.

Apparently I'm the only one that lies here...so maybe you shouldn't take my advice. <img src="i/expressions/face-icon-small-wink.gif"border=0>
>>


poohead said:

<< Do they really check your annual income? Can I just say I make more than I actually do, so I can qualify for their card? >>

......
9th Commandment from the bible: Thou shall not bear false witness.

Just thought I add that..since most of our society legal laws come from the ten commandments.

in society there are lies and here there is FW

removed - not worth stating the obvious to people who are too brainwashed to listen

iamadonut said:

<< No, I lied on my CC apps, plain and simple. The card was for me, not household. I needed a cc>>

Once again, you are looking at irrelevant factors to determine whether you "lied" on the apps. IT DOES NOT MATTER IF THE CC WAS JUST FOR YOU, YOUR DOG, YOUR SISTER, ETC.

if the app asked for HOUSEHOLD income, they were NOT ASKING FOR ONLY YOUR PERSONAL INCOME.

No, it's not OK to lie about anything IF you believe that lying is wrong. However, if you don't have a problem with not telling the truth and are willing to accept the possible negative consequences from doing so, then go for it.

when someone lies, he murders a part of the world.

Don't lie. You never know how it will come back to haunt you down the road.

Bang her lights out

Lying to get a CC... hmm. I'd wager that people who *have* to lie on a CC most likely aren't responsible enough to actually *handle* the CC they are applying for. So yea, they may get a better card... but a few years down the road, when they're mired in debt, they can only blame themselves and their overambitions! <img src="i/expressions/face-icon-small-smile.gif"border=0>

Mr. Mackey said:

<< Lying is bad, m'kay? >>


lying is a basic component of human civilization. don't believe me? turn on the news.

Also, the credit card company could close your account and demand full payment immediately. Unless you have that cash or credit lying around, you could be in serious poopoo.

No need to lie. Just round up income to the nearest $50K or $100K.

Well I went ahead and fudged my income. I got a letter today from them asking for the following info:

Copy of Utility Bill
Original Phone Bill
Copy of SS Card
Copy of Driver's License
An original paycheck stub verifying income

I can provide all the info except for the last part. Is there any way around this? Looks like I still won't be able to get the card.

you still havent stated whether the applications asked for HOUSEHOLD income vs. your personal income...if so, you can legitimately include proof of income of anyone in the household as documenting household income

poohead said:

<< Well I went ahead and fudged my income. I got a letter today from them asking for the following info:

Copy of Utility Bill
Original Phone Bill
Copy of SS Card
Copy of Driver's License
An original paycheck stub verifying income

I can provide all the info except for the last part. Is there any way around this? Looks like I still won't be able to get the card.
>>


How badly did you fudge it?
I'd move on to another cc app if I were you.
Which issuer was it anyway?

A "FEW" years ago when I was still a student, I received preapproval form and did not know what to write down in the income column. I called the CC company and asked them specifically if my parents income (since they were supporting me) were considered household income although we did not stay in the same house. They said yes.

I suspect that the CC company has info suggesting that doesn't dovetail with what you've claimed. I've never been asked for a original paystub. As was already asked, did you fudge liberally, or were you conservative? Looks like they are looking at your personal income rather than that of your household. Regardless what they want, I would not send an original pay stub. That is your record, not theirs. If you are looking to bail on the application, send them a letter saying that you will not send them the original, that you do not see why a copy would not suffice, and, therefore, withdraw your application. Appear P.O'd. However, don't over do it. Based on what you've said, I suggest that you not proceed with the application. Withdraw from the process. However, make it look like a position of strength. Don't make it look like you're backing out just because the company is calling your bluff. That could come back to hurt if the company sends this up as a credit denial. If you back out correctly, you can use the correspondence to bolster your explanation.

I know someone who spent time in jail for lying on a credit application. They could have spent more time in jail for related offenses that would have been more difficult to prove. The lying on the credit app. was easy to prove, so that is the offense that was prosecuted.

Once again, give them what they ask for. If it says HOUSEHOLD, give them household.

Skipping 38 Messages...
In regards to those free gifts, I usually make up info when filling it out to get it. Most of the time the people working the tables are swamped and such.

Usually I use the info of this dead beat A-hole that still owes me money.

Last time I did it at a football game and when they asked to see some ID, I told them I left my wallet locked up in the car. He took the app and I got my free swag!



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014