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What to enter in the fields in I have credit cards already,
but I am in a unique
situation. I am 20 and living
on my own but with my parent's
income. I recently got an
American Express application
and when I called to ask about
what I could put in the
household income field, I was
told I could include my
parent's income. Is this true?
I do not remember on some
credit apps if I put my
parent's household income or
not, because I was never sure
and was living on my own. I
have put my income as how much
I regularly get a month from
my parent's.
Is this borderline fraud or is
this typical? No one really
explains it clearly.
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I would claim the amount your parents give you. Usually, credit card companies don't ask for proof of income. But if they did, you could have your parents write a letter or provide some type of information to prove you receive the funds. CAUTION: Be careful about extending yourself too deep with all these credit cards. True, your parents are providing you the funds to pay your bills each month right now. But if they stopped for any reason-- you could have some major problems. ALSO: To the member who said you need to 'get a job' and you have no need for credit cards: Using credit cards will help build up your credit history. Even after your parents are out of the picture, using credit cards wisely now-- will be beneficial for you in the future. |
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Credit card application I applied for a credit card
with a bank it was declined I
want to go through another
bank with a slightly different
application ;) would the other
bank be aware that I have
recently be declined by the
other bank?
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Yes, every HARD inquiry( when you ask to open a credit line, the credit card company does what's called a hard Inquiry). Will show up on your record instantly and stay on for two years, but as far as them knowing any information off of the other application, they won't know, they will just know you applyed for credit at that bank. |
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I get a check from the I get a check from the
government every month. Could
I put that down as income on a
credit card application?
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YES! Where it says "Additional Income", or something along the lines of that, that's where you put how much the check is worth every month. They basically want to make sure that you can pay your bill, so if they see you have some sort of income, you have a higher chance of being accepted. |
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Will I get into trouble for I'm a college student, and
there are lots of guys around
campus giving away free
sandwiches if you fill out
credit card applications. I've
filled out a couple with
totally false information
because I really needed those
sandwiches. Can I get into
trouble for this? I DO NOT
want a credit card, but I DO
want sandwiches.
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Even if you manage your money wisely, too many credit applications can have an adverse effect on your credit rating, especially if you are making these within a relatively short period of time. This doesn't happen only to you. You should know that there are many people who do this as they are seduced by the many good offers which they perceive at any given time as all the card companies try to compete for additional business. Nevertheless, applying for multiple cards within a short time span does impact negatively upon your credit rating so it's wiser to do your homework on the comparison sites and stick to only making one or two applications in quick succession. You should wait a few months between applying for alternative sources of credit, including mortgages, loans, store cards as well as credit cards an even a mobile phone application. Read more about it at: http://www.credit-card-gallery .com/article/182,Don't_Let_You r_Credit_Application_Ruin_Your _Credit |
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Why can't the accuracy of my A day after applying for a
student credit card, a letter
was sent saying that the
accuracy of the information on
the application couldn't be
verified. Does anyone know why
not? Did I type something in
wrong?
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Don't apply again like the other poster said. That will only hurt you in having another inquiry on your report. The best thing you can do is to call the credit card company and ask to speak to a supervisor. Find out what they are referring to with that statement. It may just be something as simple as they need to see something that proves you live where you say you live or proof of income. Things like that happen fairly often and can be straightened up simply by calling. |
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