If you lie about income on a credit card application what is the worst that can happen? Would that be breaking any laws or is that considered fraud? What are the penalties and consequences for someone lying about income?
The credit card application is not very clear at all about what "household income" is. What if a young adult was unemployed and lived with his parents, does that then mean he is allowed to claim his parents combined income on his application since it is the "household income"?