Personal Finance

Lying about income on credit card application

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  • Sep 18th, 2007 12:31 am
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[OP]
Jr. Member
May 19, 2006
169 posts
2 upvotes

Lying about income on credit card application

I have good credit and never had a late payment. I want to get another card with rewards like american express but they often have requirements of a certain income. If i simply lie about my income to get the credit card, how would they ever find out. I intent on using the card responsibly but just want a reward card. Thanks
15 replies
Deal Addict
Mar 6, 2005
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alexei wrote:
Sep 14th, 2007 2:16 pm
I have good credit and never had a late payment. I want to get another card with rewards like american express but they often have requirements of a certain income. If i simply lie about my income to get the credit card, how would they ever find out. I intent on using the card responsibly but just want a reward card. Thanks
They don't typically verify but they can ask for your last 2 PayStubs or something similar.

AMEX has been known to do random Financial Reviews of accounts where they think the person has lied about their income. However I haven't seen too many cases of this in Canada, it happens much more often in the US.
Sr. Member
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Dec 21, 2006
648 posts
23 upvotes
Richmond
alexei wrote:
Sep 14th, 2007 2:16 pm
I have good credit and never had a late payment. I want to get another card with rewards like american express but they often have requirements of a certain income. If i simply lie about my income to get the credit card, how would they ever find out. I intent on using the card responsibly but just want a reward card. Thanks
There are lots of good reward cards where you don't need a high income to qualify. Have a look at the RFD no-fee reward cards article:

http://www.redflagdeals.com/deals/main. ... s/credit1/

If you're a student, then you have options too. I think I've read on this board that you can get a student Citi Enrich card (1% cash back), which is pretty darn good as far as reward cards go. I had the RBC Student Classic II when I was in school, which is free if you have the (free) student banking package with RBC. I built up a lot of points that I'm going to use for some free flights...

Bottom line: Why bother lying? You might just end up in the bad books of a CC provider that you might really want to be able to do business with later...
Deal Fanatic
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Aug 19, 2001
5086 posts
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Vancouver
They would never find out.

If they ask for verification you can simply ignore them and not complete the application.
[OP]
Jr. Member
May 19, 2006
169 posts
2 upvotes
Thanks so basically i got really nothing to lose and its worth a shot at least. Im very responsible with my credit so they would benefit from my business as well.
Member
Jan 6, 2007
308 posts
19 upvotes
I think even if they wanted to know your revenue they wouldn't be able unless they called your employer.

I don't think Revenue Canada is going to tell anyone what's your income
Deal Guru
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Apr 17, 2005
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Brampton
alexei wrote:
Sep 15th, 2007 9:59 am
Thanks so basically i got really nothing to lose and its worth a shot at least. Im very responsible with my credit so they would benefit from my business as well.
Don't worry, I've done it many times & nobody ever requested confirmation of income...as long as your credit history is good, they will give it to you ;)
Member
Jul 21, 2006
361 posts
3 upvotes
patrob wrote:
Sep 15th, 2007 11:57 am
Don't worry, I've done it many times & nobody ever requested confirmation of income...as long as your credit history is good, they will give it to you ;)
I have great credit history, but yet Amex still requested confirmation of income. I guess it depends on your luck.
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Apr 17, 2005
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Brampton
jchanq wrote:
Sep 15th, 2007 2:36 pm
I have great credit history, but yet Amex still requested confirmation of income. I guess it depends on your luck.
Possibly it is luck... Me & my husband have gone through many, many credit card applications & never even once have they asked for proof of income :|
Deal Addict
Nov 9, 2005
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I've also found AMEX to be more picky about credit card applications than any other card issuer.
Deal Addict
Aug 28, 2002
1680 posts
patrob can you confirm Amex never asked you for proof of income/employment... they almost always do even with good credit so that's unusual
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Nov 29, 2005
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patrob wrote:
Sep 15th, 2007 2:58 pm
Possibly it is luck... Me & my husband have gone through many, many credit card applications & never even once have they asked for proof of income :|
They never have for us either.
Deal Addict
Nov 29, 2005
1191 posts
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alysomji wrote:
Sep 15th, 2007 3:07 pm
I've also found AMEX to be more picky about credit card applications than any other card issuer.
Are they ever. We applied once and got denied, and turned around and got a $10,000 Visa...it's stupid.
Member
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Dec 3, 2006
354 posts
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Toronto
it can also depend on the length of your credit history and the type of credit you currently have or have had (eg revolving, loan etc) and the limits you currently have...
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Jun 14, 2003
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patrob wrote:
Sep 15th, 2007 2:58 pm
Possibly it is luck... Me & my husband have gone through many, many credit card applications & never even once have they asked for proof of income :|
Even though they may not ask for proof of income, it does not mean they don't check. They could do that silently. They can call where you work and obtain information there. Your company may refuse to provide such information because of privacy issue but they may answer a yes/no question. For example, is John Smith working in your company? Is his salary above $30K annually?

They can also deny your application just because of your credit history such as too new (nothing to do with your salary).
Too many people spend money they haven't earned to buy things they don't want, to impress people they don't like. -- Will Smith
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Stay hungry, stay foolish.
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