help with CC application

[cindyg86]

Hi! After the great responses in a previous post, I have decided to apply for the Chase Freedom CC.

I am in the process of filling out the application and am a bit stumped when it asks for household income and mortgage payment information.

As I mentioned earlier, I am a senior in college and my parents still pay for all of my expenses (to allow me to save my money from my PT job).

When it asks for HH income, should I put theirs? And their mortgage payment (which I'm not even sure about).

Or should I put my income (approx. $6000-7000 a year)? Also, if I put my income, should I put my rent payment... even though my parents pay for my apartment?

I'm just confused about this and don't want to put any wrong/misleading information down.

Thanks!

[toboramai]

I would put your personal income and nothing for rent \ mortgage. If you are uncomfortable with how to fill it out, you can always call and the CSR will fill it out after you explain your situation.

[maat55]

Hi! After the great responses in a previous post, I have decided to apply for the Chase Freedom CC.

I am in the process of filling out the application and am a bit stumped when it asks for household income and mortgage payment information.

As I mentioned earlier, I am a senior in college and my parents still pay for all of my expenses (to allow me to save my money from my PT job).

When it asks for HH income, should I put theirs? And their mortgage payment (which I'm not even sure about).

Or should I put my income (approx. $6000-7000 a year)? Also, if I put my income, should I put my rent payment... even though my parents pay for my apartment?

I'm just confused about this and don't want to put any wrong/misleading information down.

Thanks!

Just put down the truth. What you earn and and what you pay in rent. As stated above, you can talk to the CSR and she will help you. I hope you intend to pay in full each month, and also, I hope your parents know your doing this. Do NOT use your card to pay for anyone elses purchases, EVER. In fact, whats your dads phone number?

[cindyg86]

Thanks for everyone's comments! I talked to the CSR and she instructed me to put down the entire household income, including my parents.

[safari]

Thanks for everyone's comments! I talked to the CSR and she instructed me to put down the entire household income, including my parents.

That doesn't make much sense unless you're applying for a joint account with your parents. You will be the one paying the bills, so it doesn't matter how much your parents make. Having said that, if you only put your own income on the application, chances are it would get rejected because most credit companies require a minimum of $15,000 in yearly income. I doubled my income on the application in order to get a bigger credit line. Banks don't have access to your tax returns, so there is no way they can check what your actual income is when you're applying for a credit card. Just be responsible and always pay your bills in full.

[Like2Plan]

Do NOT use your card to pay for anyone elses purchases, EVER. In fact, whats your dads phone number?

[cindyg86]

That doesn't make much sense unless you're applying for a joint account with your parents. You will be the one paying the bills, so it doesn't matter how much your parents make. Having said that, if you only put your own income on the application, chances are it would get rejected because most credit companies require a minimum of $15,000 in yearly income. I doubled my income on the application in order to get a bigger credit line. Banks don't have access to your tax returns, so there is no way they can check what your actual income is when you're applying for a credit card. Just be responsible and always pay your bills in full.

Yes, I was quite confused as to why I would put total household income. I explained to her that I am not currently living with my parents but she instructed me to put down my income combined with my parents. She also instructed me to put down $0 for rent as my parents still provide for that.

But thanks for your response. I do plan on paying in full each month. I only plan on using this CC to pay for needed items (groceries, textbooks, the occasional tank of gas, etc.) for which I have already budgeted.

Thank you again!

[vsjhoc]

I doubled my income on the application in order to get a bigger credit line. Banks don't have access to your tax returns, so there is no way they can check what your actual income is when you're applying for a credit card.

Be very careful. Some credit card companies such as American Express may do a surprise "financial review" later. They require you to provide W2s and and tax returns to prove your household income. If you can't substantiate the information you provided when you applied, they may cancel your account.