ba0501 Posted March 20, 2007 Report Share Posted March 20, 2007 Does the amount that you put down for the annual household income affect the credit limit that you receive? Reason I ask is, I have a friend who lives with her mother and sister and always puts the income including her moms and sisters'. Since I live alone, I only put my income down. Even though I make more than her, she always receives higher credit limits than me. Does this annual household income have anything to do with these credit limits? Link to comment Share on other sites More sharing options...
VonAngel (aka EarthAngel) Posted March 20, 2007 Report Share Posted March 20, 2007 Yes it does; however, the specific amount varies per creditor. Link to comment Share on other sites More sharing options...
ba0501 Posted March 21, 2007 Author Report Share Posted March 21, 2007 Thank you Link to comment Share on other sites More sharing options...
SecretAgentWoman Posted March 21, 2007 Report Share Posted March 21, 2007 Wait, you mean I have no reason to be honest?My mom makes twice the money I do and lives with me, I need to get me some credit...(I always assumed they verified income.) Link to comment Share on other sites More sharing options...
serenity06 Posted March 22, 2007 Report Share Posted March 22, 2007 Earth Angel, I did not know that income makes a big difference. So how do they know how much you make when being pre-approved? Also, what do your FICO scores have to be when they offer you CC? Link to comment Share on other sites More sharing options...
VonAngel (aka EarthAngel) Posted March 22, 2007 Report Share Posted March 22, 2007 Earth Angel, I did not know that income makes a big difference. So how do they know how much you make when being pre-approved?They don't know. They offer is only for a "pre-approval", meaning they only got a snapshot of what your credit is like. They don't take into consideration your score, full credit history, or your income. Once you submit the pre-approval or actual application, then they'll take a further look and decided whether to approve you and for whatever amount. But remember, it's just a pre-approval; that's no guarantee that you would actually be approved.Also, what do your FICO scores have to be when they offer you CC?That depends on the creditor. You can search w/in the forum for info on different cards to see who they pull in what states and in what range your FICO scores should be in to be approved. There's a sticky @ the top of this forum w/ relevant info and you can also check out www.whogavemecredit.com. It's a handy tool. Link to comment Share on other sites More sharing options...
serenity06 Posted March 22, 2007 Report Share Posted March 22, 2007 Thank you EarthAngel for responding to my questions... Link to comment Share on other sites More sharing options...
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