Credit cards and annual income

Unless it’s Scotiabank, I don’t believe banks really care about the income.

My only concern would be travel insurance if they ever ask an income proof for a claim or something. Could be unlikely but still.

OP All you have to do to answer your question is read the final disclosure at the bottom of most credit applications, the part that says you certify that the information you provide is true and factual. Considering that's a legal contract you're entering into, well, I don't need to say anything else. Most issuers don't confirm income, some do check. It's easiest to start with a bank you already have some relationship with.

Household income is the way to go banks rarely verify that however I wouldn't use the travel insurance or rely on it, read an article some guy lied about his income and they refused coverage for a claim, another article as well where a guy lied and didn't pay his CCs and they sued him for fraud, that being said, if you are trying to get a premium CC for rewards, pay it properly and enjoy the world of free rewards, if not going to have high spend and want a card without a higher income requirement there is also Amex cobalt and CIBc Dividend platinum, when these cards have promos to waive AF, they collect 4-5% in rewards for gas and groceries and you can use the travel insurance on them without worrying

Everybody on RFD is married to old European nobility with titles and unprovable family inheritance

Altitude88 wrote: ↑ OP All you have to do to answer your question is read the final disclosure at the bottom of most credit applications, the part that says you certify that the information you provide is true and factual. Considering that's a legal contract you're entering into, well, I don't need to say anything else. Most issuers don't confirm income, some do check. It's easiest to start with a bank you already have some relationship with.

Oh id never lie on something like that... its not worth the possible legal trouble. Basically im debating applying for the PC financial/optimum card, the higher ones are still no annual fee but with better rewards... not sure if i should start out on the regular one or just go for it and apply for the better one. technically i used to have a relationship with them, before their banking went away...

I dont travel nearly enough to worry about having to claim anything travel related. basically it would just be for the optimum rates at zehrs and shoppers which i frequent both places

pawprints86 wrote: ↑ Oh id never lie on something like that... its not worth the possible legal trouble. Basically im debating applying for the PC financial/optimum card, the higher ones are still no annual fee but with better rewards... not sure if i should start out on the regular one or just go for it and apply for the better one. technically i used to have a relationship with them, before their banking went away...

I dont travel nearly enough to worry about having to claim anything travel related. basically it would just be for the optimum rates at zehrs and shoppers which i frequent both places

"What do I do RFD?"
"Do X lol"
"No, and now I'm going to blog my desires at you when many other threads would do just fine"

Why would you ask if you already know your answer?

Cheapmaestro wrote: ↑ "What do I do RFD?"
"Do X lol"
"No, and now I'm going to blog my desires at you when many other threads would do just fine"

Why would you ask if you already know your answer?

Because I wanted to know if anyone else had been approved when not meeting the income requirements. I wanted to know if it was worth bothering.

I can't use household income. I live on my own. I am my household income....

I thought that main reason for asking was already clear

This forum is so helpful at times but full of smart asses at other times. Not appreciated

pawprints86 wrote: ↑ Basically just wondered if anyone has ever applied for a CC that you make less than their required annual income, but still been approved for the card? If you don't have a whole lot of income but your credit rating is in great standing, will they look at that part most importantly?

Yeah, I've done it multiple times but you have to indicate in the application that you earn the indicated minimum required income, otherwise your application would be denied or they would send you a different credit card that meet the income you indicated.

The only Bank who has verified my income is Scotiabank. I have dealt with RBC, TD, MBNA, PC, AMEX, Tangerine and BMO and none of them have asked for proof of income (credit card nor line of credit).