Total household income...............
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  1. #1
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    Aug 2007
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    Total household income...............

    On credit card applications there are usually 2 questions regarding income. The first one in regards to the applicant's employment, and the second "total household income".
    That "total household income" can be inflated to include the income of other person(s) living with you.
    No credit card application asks for the source of the difference between an applicant's salary information and the information in the "total household income" segment of the application.
    Can credit card outfits force you to reveal the names of anyone else in the household if you are applying in your name only and don't want to make anyone an authorized user?


  2. #2
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    Jul 2003
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    Quote Originally Posted by greg1045 View Post
    On credit card applications there are usually 2 questions regarding income. The first one in regards to the applicant's employment, and the second "total household income".
    That "total household income" can be inflated to include the income of other person(s) living with you.
    No credit card application asks for the source of the difference between an applicant's salary information and the information in the "total household income" segment of the application.
    Can credit card outfits force you to reveal the names of anyone else in the household if you are applying in your name only and don't want to make anyone an authorized user?
    The term "total household income" is meant to include a "family unit", usually a husband and wife as the income center. It implies that incomes are pooled for all expenses, something a "roommate" status would not cover.

    I've never heard of company "forcing" disclosure of names. So, put down what is appropriate for your situation.

  3. #3
    Join Date
    Jan 2003
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    AMEX will ask for a financial statement under certain conditions, especially if the credit limit is high or they think you are charging too much. They will put a hold on the account until the financial statement is filed.

    I haven't heard of anyone else doing it.
    The Answer is 42!!

  4. #4
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    Aug 2007
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    Quote Originally Posted by bizwiz41 View Post
    The term "total household income" is meant to include a "family unit", usually a husband and wife as the income center. It implies that incomes are pooled for all expenses, something a "roommate" status would not cover.

    I've never heard of company "forcing" disclosure of names. So, put down what is appropriate for your situation.
    According to the new bankruptcy laws:


    In determining whether the median threshold has been reached, the law looks at the number of people in the debtors household (which the census bureau defines to be all the people occupying a dwelling unit) compared to census figures adjusted by the CPI.

    The way I read this a "household" is considered ALL people in the household, and not as you stated "family unit/husband and wife". Unmarried men and women can live together (shack up), people can share a dwelling unit, roommateing, so if Jack lives with Jill and Jack applies for a credit card in his name only, he can easily/legally include Jill's income in the "total household" figure, without making her a co credit card user or authorized user.

  5. #5
    Join Date
    Oct 2007
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    19
    Just out of curiosity, do they expect gross income or net income to be reported?

    J.R.

  6. #6
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    Quote Originally Posted by jwrcredit View Post
    Just out of curiosity, do they expect gross income or net income to be reported?

    J.R.
    Gross income...