Since total household income is not listed on credit reports how do credit card companies know if you are stating your honest income?They talk about debt to income ratio yet what can they base this on.All a person has to do if their denied credit for this reason is raise their income on the next credit card application.Comments?
debt to income is usually a factor in car loans and mortgages. the factor with credit card applications is balance to limit ratio. the cras dont list your income so you can usually say whatever you want to about your income on a credit card application. but its also a type of fraud if you lie on an application. some bigger credit companies ask for proof of income even for credit cards if it seems way out of line. also if you have roommates of family living with you, you can inclued their income in "total household income."
