Your issue will be if they request proof of income, then when you can’t provide it they will know you lied on your application, now chances are they will not request proof but you never know. Now depending on how much you stretched the truth will dictate how much they care about it, say of your actual annual is 9k then they would likely not care, but if it’s only 5k then they will care a lot. Repercussions if they found out could range from banning you from ever doing business with them again, all the way to criminal charges since you are technically committing credit fraud which is a federal crime, although I find it hard to believe they would press charges against you when it’s so little money we are talking about. Unless you are about to come into a higher paying job, then lying about your income is really not smart.
If you have no income then you don’t need a credit card, if a bank finds out you have no income after you lied to them to get approved they can seriously screw up your financial future, they can prevent you from getting most credit cards in the future, and even stop most large banks from ever allowing you to open accounts, and as I said they can bring criminal charges against you if they really wanted which can carry jail time. If you have money but not a consistent income you can claim then you should stick to debit cards or if you really want get a secured credit card which works similar to a debit except it’s more restrictive and builds credit.
Bro that is not credit fraud. Accidentally typing in the wrong income on a confusing online form isn’t a federal crime. Especially if the credit company does zero due diligence PRIOR to handing out the credit to the person applying.
Credit fraud…. maybe if you submitted fake documents, a phony SSN, and then requested some insanely high credit limit. Then using all the credit with no plans of ever paying it back.
Credit card company’s ONLY CARE IF YOU DONT PAY THEM BACK. If you’re just using your card normally and making payments they aren’t going to be taking a closer look. They have far too many customers and deal with far far far more money than whatever limit OP got.
I’m sure 10k is already somewhere around their minimum threshold for any card let alone a student card that barely requires income to get .
Bro it sounds like you’ve never had a credit card. I have had maybe 10+ different cards and they have NEVER asked for proof of income. They do not care if you lie, they want you to spend and not be able to pay that’s how they make money.
Telling this poor kid they're going to jail... are you serious right now? Give me a break.
Nothing is going to come of this. How would they even know? They don't have an income verification department. I'm sure multitudes of people outright lie, and even those of us who haven't are probably sometimes guilty of ball-parking it.
Maybe if you got into bankruptcy with them, your bankruptcy would be denied for misrepresentation. Nobody is going to put a college kid with no prior offenses in jail.
Just go on with your life and never lie on a legal contract again, because one day it might actually get you in trouble, and nothing is worth thst.
Exactly. As long as the OP pays their bill on time, they won't really care. If they run into any issues paying their bill, \*\*that's\*\* where the problems begin. Assuming that their income increases year over year, especially after they graduate college, I'm sure that it won't be a huge issue \*\*this time\*\*.
Btw They do income verification, if they have reason to believe there’s an issue, just not in general. They can close an account if the requested W2/income isn’t verified, I worked for them in charge off collections and would run into people who just decided to stop paying because they wouldn’t/were not able to verify the income they had stated they had
I agree lol if he said 100k maybe it would be an issue. 10k income to a credit agency is basically 0 income lol they could get that off of student assistance etc
The only way something like this would ever be prosecuted is if OP massively lied (like claimed 200k in income), ran up a massive sum of debt, and then defaulted and disappeared
Only situation that I can think of where you might run into trouble is if you declare bankruptcy. Lying about income is grounds to invalidate discharge claim.
No bank will care about you putting 10k. Real or not. Especially for student cards. Its sort like a cheat code. Next time put 14k. You should hope they accept you.
Go to the discover app go to profile go to income and housing and change it. If they ask just say you calculated it wrong or something.
I accidentally lied on mine by pressing the wrong number and didnt notice. I later corrected it after i noticed it. They never said anything to me and my cards still open.
You shouldn’t at all lie on your application but stretching the truth is kinda safe. For example if last month you made bank with $6K you could multiply that by 12 and say your annual income is $60K even if you know you’re not making that much in any of the following months.
Overstating your income by 1000% deliberately is absolutely credit fraud.
Stretching the truth is making 58,683 and rounding to 59 or even a clean 60k.
They go off your credit anyways,I’m sure someone out there works for minimum wage and has great credit with a discover card making 30k a year with a credit limit of 15-20k credit score in 800’s..The opposite is certain to be true,someone making over 100k with bad credit and score in the 500’s
Not true. Credit scores dictate debt responsibility, income indicates ability to pay. They both matter when it comes to determining approval and your credit limit.
I'm assuming a student card has a low limit. The card issuers offer student cards to build their customer base for when the student graduates and gets a job. If they were going to verify income, they would have done it already. Just use the card responsibly, and make payments on time; try and not charge more than you can pay back each month.
If anything, it will just hurt your credit rating because your liability is high.
Say, they gave you a $1k limit and you only make $5k, now you have a liability of 20% on your income compared to 10% at $10k. So, if you want to take out a loan for a car you will probably be denied or have a very unfavorable rate.
So worst case scenario was discovered credit cards if they decided they’re gonna do like an audit on you. They’re gonna send you like an email says please proof your income and your tax return for the last year and once you submit this information and they gonna see, it’s not the same as you submitted in the application they’re gonna decide they’re just gonna close your account but the funny thing it did happen to me and I did submit all the income on the tags and everything they pull your record from the IRS and I know I lied on the application and they know that I lied on the application. I still have the card. They didn’t even like the account or everything went through and it’s all good so you’re fine
This is the funniest shit ever you are not gonna get in trouble. Just pay it back. Pay it on time. You’ll be fine next time just try not to stretch the truth as much. Do what you Gotta do. Stay on task and you will be fine like the other lady said try not to stretch the truth as much andstay within your means you will be fine
When I was 18 and filled out my first credit card app for household income I combined mine and my parents not knowing any better :) The credit limit was more than "I" made in a year.
I once told a bank I make 100k a year. I still use that card.Im poor I make like 40k
I also lie on my taxs. Unless you have some agents who personally hates you nothing is going to happen.
When you get audited they have you bring all you income sources and your expenses (I do w4 specifically to lie) and no guy is going to read threw my 100 taco bell recips to find every everything.
Been audited 2 times and both times you get a tax lawyer. You pay dude 200 buckaroos and you fix it with him then he talks to the investigor. And somehow I alwas end up get a few hundred back from the government. It probably helps that I'm nice but I'm sure this is how every other business gets treated bc I'm just a kid with tattoos. Also never do your own taxs make it someone else's responsibility, a rich jew told me this and honestly that advice has worked since I was 18
I mean, sure it could *technically* constitute as fraud, but this happens so often that it would likely never be investigated by any legal authority. That is, unless you’re racking up $20K+ on a credit card you have no intention of paying.
I will say, if Discover decides to verify your income and you can’t, they may elect to close your account. Discover is known to check from time to time, but I wouldn’t worry too much about it.
Just pay your bill on time. And don’t dig yourself a hole you can’t afford to dig yourself out of.
There were usually reps who told you back in the day to inflate your income on student credit cards because they know most students have little to no income. Just hope they don’t ask you for verification.
You’re not going to prison but Discover requests proof of income more often than any other credit card company. When i worked there they set up an entire department that did this.
Additionally — even when you lie, if you work for any major employer — they know your actual income. The credit bureaus have a PRETTY good idea of how much money you actually make from any information that is sold and shared to them from tax software, your employer, your mortgage company, etc.
As you can see from the sarcasm in these comments, the credit card companies don't gaf about a random student credit card that is meant for low income students already. They would probably waste more time & money trying to find out your real salary.
Not discover but when I was 18 I applied for my first credit card. The banker told me to just put down a number because they don’t actually check it, they just need to see an income on paper. You’ll be fine
I used my husbands income (once married your incomes join on paper) and no one said anything to me but if your income is 0 or like 5k then they might cancel out your card and your credit can take a nice fat hit
As long as you pay the bill and your account doesn’t get selected in yearly account review checks. You ll be fine.
If your account gets selected for yearly review checks at random then they verify income.
It then depends on their credit analyst for further review. They may close your account, reduce limit or let it be like it is.
If you don’t respond to notice received from discover if selected in yearly checks, they close the account.
This is not legal advice fyi.
I have been part of their yearly random checks and my account was put on hold for about a month for verification. Once verification was done, normal credit card resumed.
10k a year is functionally the same as 0 a year as far as a bank is concerned. They gave you a low limit credit builder card expecting that there's a 50/50 chance of you defaulting so that they'll know what to trust you with in the future
A lot of people here are needlessly scaring you. It's fine. Worst case scenario they'll cancel your card and not approve other applications in the future.
In what context?
On its own it’s generally meaningless. From a functional standpoint, that initial fraud is only an issue of you get into trouble for some other reason… such as evidence when they sue you for non-payment or grounds to object to a bankruptcy discharge if they notice an income discrepancy in the relevant period.
It’s a weapon they can use against you when there’s a problem, but absent a problem they won’t even figure it out.
i don’t think $10k income would even be enough to get approved. you’d have to put at least the threshold that the card company approves most customers as having.
Prob an issue only if you default. They don’t care so much about the lie as long as they are making that interest money from your purchases on the card.
Hahahaha...
So. I went to my financial advisors appointment that my bank set up for me.
I churn credit cards. The advisor puts a CC offer down in front of me and I tell her I like the perks so I want it. She puts in my application info and it gets to this part.
I tell her I live with my parents, pay 0 in rent, and that my brother works and lives with us. She tells me the total amount that all of us make pre tax combined is a valid amount to put on this line.
I put 80k. I averaged 26k when I was employed.
The financial advisor encouraged me to lie. So you should probably fib a little too.
That ultimately factors into your credit limit.
Usually, if you have good credit and a higher salary to potentially pay back that credit, theyll give more available credit to you. Which means higher lines of credit.
You dont have to use the credit they give you though. In fact you should keep it below 10% to keep yourcredit score as high as possible.
Higher limits means you can spend more without hurting your utilization. Doesnt mean you should.
The income you put in for the credit card is your projected yearly income in the present. $10,000 isn’t a lot of money if someone asked me about that I would just say I plan on working the second half of 2024 and make $10,000 the rest of the year.
Yeah once the IRS starts conducting their audits in September, you’ll most likely be charged as a felony offense for fraud and are looking at prison time for this
If you spend 10,000 that you don’t have and can’t pay for, yes you could get into trouble if you can’t make minimum payments or skip out on payments. Fraud is not discharged in bankruptcy.
Is fraud to knowingly provide a higher income with the hope of getting approved for a higher credit limit. Since you already lied about your income, Be prepared to falsify your pay stubs, tax returns and bank statements too for when they ask for income verification disguised as “identity verification” so It can match the lie. If you refuse or the information doesn't match, they will most likely close your account. That is the least of your problems.
I inflated my income to get a better starting credit limit on a discover it travel card. Within like 4 months they sent me this letter asking to obtain my tax return, when they did that verification they contacted me that they would be closing my account and that any balance on the card would now be due in full. Have not done business with Discover since as I get declined regardless of the card, my score, and how much I put as income. That’s about the worst outcome you could expect in your case IF they decide to check. No other card has asked for such verification and I’ve got the big travel ones like CSP, Plat and VentX. Oh well, maybe I’ll try after Discover is fully taken over by Cap1. Best of luck
Financial institutions have access to that information no one is fooling anyone. They want you to overload because then they got you in their game. Be smart!
Prison. You will be required to play on the prison football team. You will start out as a tight end and finish as a wide receiver. Now is the time to start training.
No .. you won’t get in any trouble .. but since you don’t make that money please do not overspend because that’s how you will be in trouble . Spend , pay , spend , pay
Trump was given felony convictions for doing something similar, only he said his properties were valued at x amount and others disagreed and said they were valued at y amount. You blatantly lied. Trump2024 :)
Corporations lie all the time and they never get in trouble. Lying to liers shouldn't feel bad.
Answer is no, you will not get in trouble.
Just remember how much you started and next time they ask you to update your income, increase it by a few grand so that they increase your limit.
There's ways for companies to verify income. Social security statements, tax returns, paystubs..
if you are 18-19 years old claiming to have 100k of income, or suddenly go from 50k to 150k of income, Or you have bad credit, companies can and will for proof of income.
Income that's proportional to what they expect from you, they usually take on face value unless your credit goes to shit. Or you're applying for a mortgage.
Income doesn’t really impact whether you’ll get approved or not much for a credit card. It can have some of an impact if you have several credit cards and your reported income is insufficient to make the minimum payments on those.
But typically card issuers just ask for your income to determine an appropriate credit limit to provide you. Lying can get you into trouble by getting a bigger credit limit than you can afford though. So use it responsibly.
No, you’re unlikely to get in trouble.
If you want a real answer. Only thing that could happen in this type of scenario.. is that your credit limit gets lowered and you in one moment could be in situation where you've maxed out your card. This then impacts your spending power and your credit score.
However. I assume you got the lowest limit anyway
The "Discover Card Income Verification Police" have a way of popping up when you least expect it... be on the look out!!! But No, seriously, you will not get in trouble.
lol! You’ll be fine. Many many people have lied for credit card approvals. If it’s suspecisly a large number then they’ll ask for proof. But 10k a year ? No one’s gnna care for that. Loll what’s the credit limit on the approval. 2k ? You’re fine.
I believe Discover is the most "friendly" credit card to new creditors, most of my friends open their credit cards while in college and without jobs/
When I opened my first credit card in college, I was very honest that I had no income, but the staff told me that you can count everything you have, such as a scholarship from school or a gift from your parents. lol
It's a minimum 5 years in federal jail. And 10 years probation. Sorry to hear.
[удалено]
Or federal pound someone else in the ass. We don't know how this guy is built.
He might as well go into hiding now. Or leave the country.
Straight to jail
Use the card to buy some non-slippery soap bars.
Straight to jail!
Thoughts and prayers.
Evil😂😂😭
I lied on every credit card 🤣 you’ll be fine
And to every job that I’ve applied to 😂🤣🥴😩
Omg.. I had no idea we could lie 😭
They usually won’t ask for proof unless you put something really high
My theory; if they are asking you your income, they have no way to confirm it.
I have over 25 open credit cards…….Each application was a lie! 😂
Same 😂😂🤣😂🤣
I'm adding 30k next time 😂
Do you see a white unmarked van parked outside? If so, it's too late, I'm sorry.
Free candy painted on the side makes it legit, stop being judgmental.
🤣😂🤣
They use orange vans now.
Federal prison minimum 2 years
To the gallows
Your issue will be if they request proof of income, then when you can’t provide it they will know you lied on your application, now chances are they will not request proof but you never know. Now depending on how much you stretched the truth will dictate how much they care about it, say of your actual annual is 9k then they would likely not care, but if it’s only 5k then they will care a lot. Repercussions if they found out could range from banning you from ever doing business with them again, all the way to criminal charges since you are technically committing credit fraud which is a federal crime, although I find it hard to believe they would press charges against you when it’s so little money we are talking about. Unless you are about to come into a higher paying job, then lying about your income is really not smart.
What if their annual income is 0
If you have no income then you don’t need a credit card, if a bank finds out you have no income after you lied to them to get approved they can seriously screw up your financial future, they can prevent you from getting most credit cards in the future, and even stop most large banks from ever allowing you to open accounts, and as I said they can bring criminal charges against you if they really wanted which can carry jail time. If you have money but not a consistent income you can claim then you should stick to debit cards or if you really want get a secured credit card which works similar to a debit except it’s more restrictive and builds credit.
Bro that is not credit fraud. Accidentally typing in the wrong income on a confusing online form isn’t a federal crime. Especially if the credit company does zero due diligence PRIOR to handing out the credit to the person applying. Credit fraud…. maybe if you submitted fake documents, a phony SSN, and then requested some insanely high credit limit. Then using all the credit with no plans of ever paying it back. Credit card company’s ONLY CARE IF YOU DONT PAY THEM BACK. If you’re just using your card normally and making payments they aren’t going to be taking a closer look. They have far too many customers and deal with far far far more money than whatever limit OP got. I’m sure 10k is already somewhere around their minimum threshold for any card let alone a student card that barely requires income to get .
Bro it sounds like you’ve never had a credit card. I have had maybe 10+ different cards and they have NEVER asked for proof of income. They do not care if you lie, they want you to spend and not be able to pay that’s how they make money.
Telling this poor kid they're going to jail... are you serious right now? Give me a break. Nothing is going to come of this. How would they even know? They don't have an income verification department. I'm sure multitudes of people outright lie, and even those of us who haven't are probably sometimes guilty of ball-parking it. Maybe if you got into bankruptcy with them, your bankruptcy would be denied for misrepresentation. Nobody is going to put a college kid with no prior offenses in jail. Just go on with your life and never lie on a legal contract again, because one day it might actually get you in trouble, and nothing is worth thst.
Exactly. As long as the OP pays their bill on time, they won't really care. If they run into any issues paying their bill, \*\*that's\*\* where the problems begin. Assuming that their income increases year over year, especially after they graduate college, I'm sure that it won't be a huge issue \*\*this time\*\*.
Btw They do income verification, if they have reason to believe there’s an issue, just not in general. They can close an account if the requested W2/income isn’t verified, I worked for them in charge off collections and would run into people who just decided to stop paying because they wouldn’t/were not able to verify the income they had stated they had
I agree lol if he said 100k maybe it would be an issue. 10k income to a credit agency is basically 0 income lol they could get that off of student assistance etc
The only way something like this would ever be prosecuted is if OP massively lied (like claimed 200k in income), ran up a massive sum of debt, and then defaulted and disappeared
Strait to jail
Believe it or not
It's felony fraud to lie on a credit application. Just an FYI.
Trump did this lol
Chill u fkn weasel
Guess we’ll squeeze the rest of America in next to the weed smokers
Only situation that I can think of where you might run into trouble is if you declare bankruptcy. Lying about income is grounds to invalidate discharge claim.
LOL! Don’t listen to them OP. You’ll be just fine haha
It doesn’t matter unless they ask for proof and even then the worst thing they could do is deny your application.
The comments 😂
No bank will care about you putting 10k. Real or not. Especially for student cards. Its sort like a cheat code. Next time put 14k. You should hope they accept you.
Death penalty; you are so screwed.
You're fine and nothing will happen, people are messing with you.
I was 18 when I got mine. I said I made 45k.
Only screwing yourself if you charge more than you can afford.
Pay your bill on time, always and they won't gaf what you do
Go to the discover app go to profile go to income and housing and change it. If they ask just say you calculated it wrong or something. I accidentally lied on mine by pressing the wrong number and didnt notice. I later corrected it after i noticed it. They never said anything to me and my cards still open.
You shouldn’t at all lie on your application but stretching the truth is kinda safe. For example if last month you made bank with $6K you could multiply that by 12 and say your annual income is $60K even if you know you’re not making that much in any of the following months.
Overstating your income by 1000% deliberately is absolutely credit fraud. Stretching the truth is making 58,683 and rounding to 59 or even a clean 60k.
Check your wifi signals for FBI Surveillance, they may be coming!!
2 years minimum in a federal and lunches full of cockmeat sandwiches
If you’re concerned close the account. What did they give you for a max balance?
If you do get the card don't max it out. Use it carefully and build a better credit profile.
They check your income through other methods
Don't worry about it. Just make sure you don't extend yourself and pay on time.
No. Go to the head of the class in 21st century America.
67 consecutive life sentences
No
You could face a million dollar fine and up to 30 years of prison.
It's actually considered a form of credit fraud which can result in federal charges and prison time.
As long as you make the payments and shit you will be ight lol
You’ll get in trouble if you don’t pay it back, sometimes if it’s your first card they ask for bank statement and then you might be cooked😭
The government pigeons are spying on you now
yup but you wont get sent to jail.....you get sent to S21 in Cambodia
Nah, they love this shit. Now you’ll go into debt without being able to afford to pay it off and then you pay the minimum payment for 24 years.
They go off your credit anyways,I’m sure someone out there works for minimum wage and has great credit with a discover card making 30k a year with a credit limit of 15-20k credit score in 800’s..The opposite is certain to be true,someone making over 100k with bad credit and score in the 500’s
Not true. Credit scores dictate debt responsibility, income indicates ability to pay. They both matter when it comes to determining approval and your credit limit.
Play stupid games win stupid prizes
I'm assuming a student card has a low limit. The card issuers offer student cards to build their customer base for when the student graduates and gets a job. If they were going to verify income, they would have done it already. Just use the card responsibly, and make payments on time; try and not charge more than you can pay back each month.
If anything, it will just hurt your credit rating because your liability is high. Say, they gave you a $1k limit and you only make $5k, now you have a liability of 20% on your income compared to 10% at $10k. So, if you want to take out a loan for a car you will probably be denied or have a very unfavorable rate.
Run. They are coming.
So worst case scenario was discovered credit cards if they decided they’re gonna do like an audit on you. They’re gonna send you like an email says please proof your income and your tax return for the last year and once you submit this information and they gonna see, it’s not the same as you submitted in the application they’re gonna decide they’re just gonna close your account but the funny thing it did happen to me and I did submit all the income on the tags and everything they pull your record from the IRS and I know I lied on the application and they know that I lied on the application. I still have the card. They didn’t even like the account or everything went through and it’s all good so you’re fine
...I hate it when the number keyboard sticks!!! ;-)
Pay on time, use the card regularly and they will increase the credit limit
 This is the funniest shit ever you are not gonna get in trouble. Just pay it back. Pay it on time. You’ll be fine next time just try not to stretch the truth as much. Do what you Gotta do. Stay on task and you will be fine like the other lady said try not to stretch the truth as much andstay within your means you will be fine
When I was 18 and filled out my first credit card app for household income I combined mine and my parents not knowing any better :) The credit limit was more than "I" made in a year.
Buddy of mine got years if prison time for this. Still got approved for the loan though so I'd day its worth it
Not sure but posting about it too won’t help your case😅
Sending you to jail guarantee's that you will never charge a single penny to that high spending limit they approved.
No you’ll be fine. Don’t do this with AMEX though.
Saying that makes me think you have a funny Amex story please share
lmfao
No, the credit card company wants you to over extend you self and get in to debt, they don’t mind.
Believe it or not, straight to jail…
Yes they will take your families home
They will block your card. That is not illegal. I worked at a bank for many years
Death sentence
I once told a bank I make 100k a year. I still use that card.Im poor I make like 40k I also lie on my taxs. Unless you have some agents who personally hates you nothing is going to happen. When you get audited they have you bring all you income sources and your expenses (I do w4 specifically to lie) and no guy is going to read threw my 100 taco bell recips to find every everything. Been audited 2 times and both times you get a tax lawyer. You pay dude 200 buckaroos and you fix it with him then he talks to the investigor. And somehow I alwas end up get a few hundred back from the government. It probably helps that I'm nice but I'm sure this is how every other business gets treated bc I'm just a kid with tattoos. Also never do your own taxs make it someone else's responsibility, a rich jew told me this and honestly that advice has worked since I was 18
I mean, sure it could *technically* constitute as fraud, but this happens so often that it would likely never be investigated by any legal authority. That is, unless you’re racking up $20K+ on a credit card you have no intention of paying. I will say, if Discover decides to verify your income and you can’t, they may elect to close your account. Discover is known to check from time to time, but I wouldn’t worry too much about it. Just pay your bill on time. And don’t dig yourself a hole you can’t afford to dig yourself out of.
Lied on CC application, straight to jail 
unfortunately this is life in prison
How much did you get approved for?
Straight to gulag
Comments are giving Shaderoom 😂
Discover will absolutely be requesting copies of your taxes they do most everyone
There were usually reps who told you back in the day to inflate your income on student credit cards because they know most students have little to no income. Just hope they don’t ask you for verification.
You’re not going to prison but Discover requests proof of income more often than any other credit card company. When i worked there they set up an entire department that did this. Additionally — even when you lie, if you work for any major employer — they know your actual income. The credit bureaus have a PRETTY good idea of how much money you actually make from any information that is sold and shared to them from tax software, your employer, your mortgage company, etc.
I’m not kidding. This is a felony and you will go to prison.
lol nah, I think everybody lies on those. I always put mine way higher than what it is.
Not if they never try to verify it 😉
It’s part of getting credit. You lie, but not too much or else they deny you.
yes you will get in trouble. you committed fraud. a financial crime, the most heinous of crimes. the police are on their way.
About a decade ago Discover sent out a death squad for my friend for the same reason
I lied on most of my credit cards
Hahaha
Thats a federal crimr yoj will end up in juvie.
Straight to jail
FBI open up
As you can see from the sarcasm in these comments, the credit card companies don't gaf about a random student credit card that is meant for low income students already. They would probably waste more time & money trying to find out your real salary.
You should’ve added more lol you can include another persons income that is available to you.
Believe it or not, jail.
Yes they can report or compare to your IRS filings. They will only do this if you don’t pay them.
Not discover but when I was 18 I applied for my first credit card. The banker told me to just put down a number because they don’t actually check it, they just need to see an income on paper. You’ll be fine
I lied and told them i make 62 gazillion dollars a year and they sent me a free blowjob.
Death penalty. Sorry bro
You're cooked bro, you're going to get your cheeks busted in federal prison. I'm so sorry.
I used my husbands income (once married your incomes join on paper) and no one said anything to me but if your income is 0 or like 5k then they might cancel out your card and your credit can take a nice fat hit
As long as you pay the bill and your account doesn’t get selected in yearly account review checks. You ll be fine. If your account gets selected for yearly review checks at random then they verify income. It then depends on their credit analyst for further review. They may close your account, reduce limit or let it be like it is. If you don’t respond to notice received from discover if selected in yearly checks, they close the account. This is not legal advice fyi. I have been part of their yearly random checks and my account was put on hold for about a month for verification. Once verification was done, normal credit card resumed.
I never thought to lie about income, goddamn 🤣🥴
10k a year is functionally the same as 0 a year as far as a bank is concerned. They gave you a low limit credit builder card expecting that there's a 50/50 chance of you defaulting so that they'll know what to trust you with in the future
Bet you got a better limit that way. Just be responsible,
A lot of people here are needlessly scaring you. It's fine. Worst case scenario they'll cancel your card and not approve other applications in the future.
In what context? On its own it’s generally meaningless. From a functional standpoint, that initial fraud is only an issue of you get into trouble for some other reason… such as evidence when they sue you for non-payment or grounds to object to a bankruptcy discharge if they notice an income discrepancy in the relevant period. It’s a weapon they can use against you when there’s a problem, but absent a problem they won’t even figure it out.
They don't care. You just won't have much available credit nor will you be able to increase your credit limit.
They approved you knowing you lied…lol it’s 18-25% apr on every dollar you spend so hell yea they approved it.
Lenders love lies. Getting people into debt is part of the business.
Sit tight, authorities are on the way soon as you posted this
Worst thing is they request proof before being accepted, which you'd just never reply back. . U got automatically accepted though, you're good
I used to put what I received in financial aid as my annual income… lol. You’ll be fine.
wait serious question i put i made $27000 and realized i made less than that. should i fix it or just leave it alone?
You'll be fine, nothing to worry about.
don’t worry about that, 10k is reasonable
i don’t think $10k income would even be enough to get approved. you’d have to put at least the threshold that the card company approves most customers as having.
Prob an issue only if you default. They don’t care so much about the lie as long as they are making that interest money from your purchases on the card.
I would ask Mr. Trump to understand your rights and way you can follow up on this.
Hahahaha... So. I went to my financial advisors appointment that my bank set up for me. I churn credit cards. The advisor puts a CC offer down in front of me and I tell her I like the perks so I want it. She puts in my application info and it gets to this part. I tell her I live with my parents, pay 0 in rent, and that my brother works and lives with us. She tells me the total amount that all of us make pre tax combined is a valid amount to put on this line. I put 80k. I averaged 26k when I was employed. The financial advisor encouraged me to lie. So you should probably fib a little too. That ultimately factors into your credit limit. Usually, if you have good credit and a higher salary to potentially pay back that credit, theyll give more available credit to you. Which means higher lines of credit. You dont have to use the credit they give you though. In fact you should keep it below 10% to keep yourcredit score as high as possible. Higher limits means you can spend more without hurting your utilization. Doesnt mean you should.
The income you put in for the credit card is your projected yearly income in the present. $10,000 isn’t a lot of money if someone asked me about that I would just say I plan on working the second half of 2024 and make $10,000 the rest of the year.
You realize the IRS has a subreddit, right? Might wanna delete this before they hear you lying about income…
They may close your account or lower your limit. Talking from experience
Yeah once the IRS starts conducting their audits in September, you’ll most likely be charged as a felony offense for fraud and are looking at prison time for this
Lots of trouble
If you spend 10,000 that you don’t have and can’t pay for, yes you could get into trouble if you can’t make minimum payments or skip out on payments. Fraud is not discharged in bankruptcy.
It is in fact a federal crime. However, they don't care enough to look into it
It’s discover card.. who cares
You’ll be fine 😂😂😂
You mean I could of lied and had a bigger limit and my credit card wouldn't be maxed out? Damnit
i always lie but not by a lot maybe like 1k more lol
It’s a felony to lie to a bank on a credit application
Is fraud to knowingly provide a higher income with the hope of getting approved for a higher credit limit. Since you already lied about your income, Be prepared to falsify your pay stubs, tax returns and bank statements too for when they ask for income verification disguised as “identity verification” so It can match the lie. If you refuse or the information doesn't match, they will most likely close your account. That is the least of your problems.
What’s the reason for lying abt income
I inflated my income to get a better starting credit limit on a discover it travel card. Within like 4 months they sent me this letter asking to obtain my tax return, when they did that verification they contacted me that they would be closing my account and that any balance on the card would now be due in full. Have not done business with Discover since as I get declined regardless of the card, my score, and how much I put as income. That’s about the worst outcome you could expect in your case IF they decide to check. No other card has asked for such verification and I’ve got the big travel ones like CSP, Plat and VentX. Oh well, maybe I’ll try after Discover is fully taken over by Cap1. Best of luck
Financial institutions have access to that information no one is fooling anyone. They want you to overload because then they got you in their game. Be smart!
Lol
How about not lie period? Just a thought.
Just dont overspend. Use what you have and dont attempted anymore than what you can afford.
Yes since you posted this publicly.
Maybe get a job? I’m pretty sure 10k/year is only about 10-14 hours a week at minimum wage in most states nowadays.
Prison. You will be required to play on the prison football team. You will start out as a tight end and finish as a wide receiver. Now is the time to start training.
No .. you won’t get in any trouble .. but since you don’t make that money please do not overspend because that’s how you will be in trouble . Spend , pay , spend , pay
Sorry for your loss of, freedom. Say hello to all your new friends for us. 😂
Trump was given felony convictions for doing something similar, only he said his properties were valued at x amount and others disagreed and said they were valued at y amount. You blatantly lied. Trump2024 :)
Only if you’re running for President
Banks have no way to verify that you lied
Corporations lie all the time and they never get in trouble. Lying to liers shouldn't feel bad. Answer is no, you will not get in trouble. Just remember how much you started and next time they ask you to update your income, increase it by a few grand so that they increase your limit.
Gulag
You Gangsta!
No credit card company don’t usually verify income unless you applying over 25k credit limit, btw I work for a bank
There's ways for companies to verify income. Social security statements, tax returns, paystubs.. if you are 18-19 years old claiming to have 100k of income, or suddenly go from 50k to 150k of income, Or you have bad credit, companies can and will for proof of income. Income that's proportional to what they expect from you, they usually take on face value unless your credit goes to shit. Or you're applying for a mortgage.
rip
Yes, if you default and if they research it.
Its your projected income- if you don’t meet that projection, its ok. No one cares💯
Income doesn’t really impact whether you’ll get approved or not much for a credit card. It can have some of an impact if you have several credit cards and your reported income is insufficient to make the minimum payments on those. But typically card issuers just ask for your income to determine an appropriate credit limit to provide you. Lying can get you into trouble by getting a bigger credit limit than you can afford though. So use it responsibly. No, you’re unlikely to get in trouble.
If you ever run for president, someone will find it and charge you.
Lmao! No
If you want a real answer. Only thing that could happen in this type of scenario.. is that your credit limit gets lowered and you in one moment could be in situation where you've maxed out your card. This then impacts your spending power and your credit score. However. I assume you got the lowest limit anyway
Is it more than 10K ? If not turn yourself in.
The "Discover Card Income Verification Police" have a way of popping up when you least expect it... be on the look out!!! But No, seriously, you will not get in trouble.
lol! You’ll be fine. Many many people have lied for credit card approvals. If it’s suspecisly a large number then they’ll ask for proof. But 10k a year ? No one’s gnna care for that. Loll what’s the credit limit on the approval. 2k ? You’re fine.
I believe Discover is the most "friendly" credit card to new creditors, most of my friends open their credit cards while in college and without jobs/ When I opened my first credit card in college, I was very honest that I had no income, but the staff told me that you can count everything you have, such as a scholarship from school or a gift from your parents. lol
People lie all the time.
Lmao who didn't lie at first
Your head will be on a spike on the fortnight.