Credit card application help!!!

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Credit card application help!!!

Postby Creditnewbie » Wed Dec 31, 2014 11:40 pm

During my credit card application I noticed one of the questions is what is the amount of rent paid each month. My question is; is it better to have more rent paid listed or less rent paid in order to get a higher credit limit approval?

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Postby mathman314 » Thu Jan 01, 2015 7:49 pm

Due to perjury laws, I'd advise you not to stray away from indicating false information on your credit card application.

In any case, I think it'd be better to put less than the actual rent. To my mind, it sends a signal to the system you have more money to play with at the end of each month.
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Postby ingramjuan » Fri Jan 02, 2015 3:56 pm

My suggestion would be to put the current amount of your rent. Keep in mind after a few months, your credit limits can increase.
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Postby yfan » Fri Jan 02, 2015 4:28 pm

It's "better" to have the actual amount you pay listed. Quit playing games to get a higher limit and be truthful in your application.

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Postby jojo » Fri Jan 02, 2015 5:34 pm

Actual rent.

Your credit limit is a function of your payment history, length of time account is opened, credit utilization, and income. Most credit card companies will start you off with a low limit if you're new to credit or with a limit similar to the other accounts on your credit report. Gaining a higher limit requires you to develop a good relationship with the issuer, not by inflating your disposable income.

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Postby popamode72 » Fri Jan 02, 2015 6:38 pm

You know you can get into serious trouble for lying on an application like that if you get caught, right? Just do a Google search and you'll find stories of what happens when you do.
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Postby takeshi » Sat Jan 03, 2015 7:37 pm

Creditnewbie wrote:My question is; is it better to have more rent paid listed or less rent paid in order to get a higher credit limit approval?

The causality that you assume does not exist. Your limit will be based on your credit and income. Put whatever your rent actually is on the app and don't assume that changing that number will impact your CL.

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