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  1. #1
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    Default Income on Credit Card Application?

    I recently applied for a card and in the income box I placed my annual household income, nowhere did it say "Individual Income". When the credit analyst called me she pulled my exact annual income...Where could the individual get this information? Did they actually call my employer? Is that legal?(I'm assuming I let them call my employer when I hit "I agree" on the application form for the 50 pages of text). Anyone know?
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  2. #2
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    Every creditcard App I have done says household income. If that was a bank you have done business with before, they might have your income info on file. Banks will not call your employer as far as I know. If I'm wrong someone can let me know!

    Example: If you applied for Citibank card and maybe you have a Home Depot or Sears account, your income might be documented from the past. Banks can share info within the bank, but not to another bank.
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    I put household income. My application wasnt instantly approved and I called to ask why. They asked where my income came from and I said I made so many dollars per year. She asked why that number was less than what I put on the application and my response was that the app asked for household and I included my domestic partner in the total. Her response was "Okay I will go ahead and recommend your card for approval" and my card arrived a week later. This was my experience with it and from that time onward I have been using total household income on credit card applications.
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  4. Centurion Member Mogul of Pineapples's Avatar
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    On March 18, 2011 the Federal Reserve told banks household income can no longer be used on credit card applications. Well I generally agree with it I do find it a bit discriminatory against married couples where one person may be a stay-at-home, non-working parent.

    The term "household" is vague and its understandable why some sort of ruling had to be made. Though I think it would have been more fair if spousal income was at least allowed.
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    This is the post that first led me to this forum. I was going to apply for a credit card and use my mom + dad's income since I am in school and live at their house but after reading pineapple I suppose that can't be done now. If I apply and list an income of 4 g's you think that will be enough to get approved for a card? any card?
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    Centurion Member Mogul of Pineapples's Avatar
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    Quote Originally Posted by zinger View Post
    I was going to apply for a credit card and use my mom + dad's income since I am in school and live at their house but after reading pineapple I suppose that can't be done now.
    That is correct.

    If I apply and list an income of 4 g's you think that will be enough to get approved for a card? any card?
    Most issuers have minimum income requirements of $12,000 or $15,000. With credit cards for students you will likely have a good shot with $4,000.
    Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

    Current Cards:
    American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
    Primary Everyday Card: American Express Blue Cash
    Primary Travel Card: Chase Sapphire Preferred
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  7. #7
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    I have a question somewhat along the same lines. What counts as income on a credit card application? Should someone enter their income after deductions and taxes.
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