Fraud?

[Not The Philosopher]

Long story short: I recently applied for a credit card. Bank asked what my monthly income is. My income goes up and down depending on how many shifts I wind up working and how much I make on tips. The number I ultimately gave them was a bit generous -on a good month I might make this much, but the average is probably about $50 lower (to the extent that there is an average; I've only had this job full time for three months). Obviously this isn't quite as truthful as just giving the average, but does this step over into "confession ASAP" territory? I suppose I'm mainly worried because fraudulent dealings in business matters is considered grave matter, but it's not like I've defrauded anyone of their property, and the difference in income is slight enough and the credit limit so low that I don't think it would lead to a serious reconsidering over whether I'd be able to make my payments. In any event, I'm already approved.

[Slappo]

I wouldn't worry about it. $50 a month difference in income is a whopping $600 a year variance. When they ask for monthly income they are asking for estimated monthly income as salaried employees often vary. My wife's monthly income is all over the place depending on what hours she works, overtime, etc.


I once applied for a credit card as a teenager still living with my dad, and it asked for monthly household income so I included his income since we live in the same house. Unbeknown to me at the time.. I should have only included my income.

If credit companies really wanted to scrutinize what your income and employment history was, they would require your last 2 months paystubs and tips receipts as well as your tax paperwork for the past 2 years.

[Annie12]

[quote name='Not The Philosopher' timestamp='1343257692' post='2458849']
Long story short: I recently applied for a credit card. Bank asked what my monthly income is. My income goes up and down depending on how many shifts I wind up working and how much I make on tips. The number I ultimately gave them was a bit generous -on a good month I might make this much, but the average is probably about $50 lower (to the extent that there is an average; I've only had this job full time for three months). Obviously this isn't quite as truthful as just giving the average, but does this step over into "confession ASAP" territory? I suppose I'm mainly worried because fraudulent dealings in business matters is considered grave matter, [color=#ff0000]but it's not like I've defrauded anyone of their property[/color], and the difference in income is slight enough and the credit limit so low that I don't think it would lead to a serious reconsidering over whether I'd be able to make my payments. In any event, I'm already approved.
[/quote]

This. I don't think you did anything wrong. You tried your best to be as truthful as possible. Right? If you don't have a set income and it varies I wouldn't think you have any way of knowing your actual income. So, I think your fine.... I dunno what do you think?

[Slappo]

It may have been more honest to give an average income, but it definitely isn't fraudulent to give them your highest monthly income out of 3 months.

[Winchester]

You're going to prison, bro.

[Not The Philosopher]

But I'm too young and handsome to go to prison!

Anyhow, thanks for the responses. I do tend to overthink some things.

[4588686]

[quote name='Not The Philosopher' timestamp='1343270997' post='2458920']
But I'm too young and handsome to go to prison!

[/quote]


That's ok. With a mouth that pretty you'll make friends fast. A winning smile tends to win people over. Just remember for your health to spit rather than swallow once you're done brushing your teeth.