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Quick question about the a credit card application.
I'm currently no/low income (early stages of a new business, can elaborate if necessary) and I'm about to apply for a new credit card because I'm about to have a shitload of travel spend and the rewards make the most sense for my situation in the next year.
I have no problem paying whatever I put on it, but they obviously won't know that if I put a low income in the application.
My credit score is in the high 700s and near 0 debt to credit ratio with other lines of credit totaling about $30k, but I don't think that's enough of a factor for them to overlook the income.
So basically the question is, how big of a deal is fibbing the income portion of the application?
Obviously not astronomical amounts of fudging, but something like what I'm expecting to be making next year instead of this year.
Would they have any way to know I'm lying? Obviously they can ask for proof if they doubt it, but I've never been asked to provide proof of income before.
As far as the legality of it, I know that lying on an application can cause the debt on that credit line to be undischargable in bankruptcy -- again, not a problem because I'm in no risk of bankruptcy -- but is there anything else to consider?
It seems that at worst, they close my account if they somehow find out I bullshitted the application.
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>>1455760
Here's another trick if you're too much of a pussy to lie about your income because you think they are actually going to call every employer of every applicant they receive:
Lie about your assets. For example, they might ask you how much stock or investments you own. If you want an $X credit limit, say you own $X amount of stocks/investments. They'll see that as collateral they can use against your limit and give you up to that limit.
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>>1455760
zero chance, nobody cares, it's so trivial.
Say you make at least 10x annual income more than your requested limit, you defiantly own your home and do not rent, you have had the same employer for as long as you have been alive since you where 18.
Other than that the only way to drive it up will be outspending your limit monthly.
Nobody has time to go fucking hunt this shit down. Even if they did? Whats the first thing they would do... decline your limit increase? Who cares.
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>>1455763
Assets I don't have an issue with, but idk if they'd even get that far if I list 0 income and they deny the app immediately.
I don't necessarily think they're going to call people, but idk if they'd look at my credit history and see enough there that it would make them want to ask for additional proof or something.
Just asking to get a second opinion and cover my bases.
>>1455765
idk man, I wouldn't think so but I've heard Amex do crazy shit like put you through a "Fiancial Review" and make you provide IRS documents.
Really my only concern with it is that I'm basically lying about basically having no income to saying I have high enough for a top tier card rather than fudging what is actually $60k income into $75k income.
(and I also don't want to be on a permanent shitlist)
Anyway, thanks bros.
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