Jump to content


  • Content Count

  • Joined

  • Last visited

  1. I think we may have to just agree to disagree, because my argument isn't going to change, and neither is yours. While it doesn't say household or spousal, neither does it say 'personal' - so wouldn't that also be an assumption? The reason I don't think your argument works is because I don't think that simply having access to an account gives you the right to take money out of it for personal use. However, my joint account with my husband available to me to pay bills out of. It's all in the verbiage - not just 'is the money available to you' but 'is the money available to you to repay the debt?' In your scenerio - does the couple have a joint bank account? Do they pay their bills jointly? Does the employeed spouse take over payments of the un-employeed spouses' individual credit cards? If so, then I would say that, yes, the unemployed spouse still has income available to repay debts. However, I would think that anyone in that scenerio who is applying for new credit is just asking for trouble. THAT is why I think that the applications should clearly and unambiguously state PERSONAL INCOME in all caps with flashing lights and perhaps some small print that says "income earned by you, from an employer who provides you with a W2."
  2. I see what you're saying - their income is then 'available.' But - here's were I think that argument doesn't work... that income, while technically 'available' is not really available to repay the debt. When I read "other income available to repay the debt." I don't think about my parent's bank account or my daughter's bank account - I think about the money that I use to pay my bills. And again, I'm going back to the banks ARE being intentionally vague by included verbiage that refrences 'other income available to repay the debt' because it is confusing for the average applicant. The average applicant who isn't trying to defraud anyone or play semantic games to justify using household income when they know they shouldn't. For the average person who doesn't know anything about the CARD Act, reading "other income available to repay the debt' means other income that they use to pay their bills. My mom doesn't use her parent's income, or my income or my brother's income (she has access to all of those accounts) to pay her bills, she uses my dad's income - and therefore would list his income as money she has available to repay the debt. I'm really just playing devil's advocate here. But I dispute your remarks about making an assumption - because it's not an assumption - it says it straight out - other income available to repay the debt. And now I have to call my mom.
  3. But, it asks for 'other income available to repay the debt'. My dad's income is available for her to pay the debt. That is why people are still using their spouse's income. Because the application, in my opinion, is worded so that the average applicant would think they can list their spouses income.
  4. I have no dog in this fight, so I'm not taking sides. But here's my thing. Those of us here are probably well aware of the CARD act and it's ramifications. Because we pay attention to stuff like that. My mom does not. She is a SAHW, and has been for my entire life. She has lots of credit on her own, as she has for her entire married life. She has this credit due to applying using 'household' income, as that was what used to be asked for. She follows the news, and she may even be aware that the CARD Act was passed, but I doubt very seriously that she realizes that she can no longer use my dad's income on a card application. So tell me this. If she were to apply for a card that asks for "annual income" AND includes the statement that says (paraphrased) "you may include any income available to you to repay the debt." She wouldn't think anything of putting my dad's income, because that's what she's always done, and though she knows she personally does not have annual income, she does have 'income available' to repay the debt. Again, I'm not taking sides... but this is where the onus truly is on the banks. Because if someone has historically applied for credit using household income, is unaware of the ramifications of the CARD Act, AND is reading an application that CLEARLY states that they may include any income available to them- then why would they think twice about listing income other than their own? For the purpose of clarifying the issue for people who aren't credit gurus - all applications should now, in accordance with the CARD Act, ask for Personal Income and leave out any mention of other income that might be available to them.
  5. If it was store policy that everyone had to show ID I would be fine with that, however, in our situation - after my daughter was denied the right to purchase, her grandmother purchased it for her, using a Visa card - and she was not asked for photo id. We have since visited a different GameStop, and when my husband purchased a game with his Discover card, he was not asked for photo id.
  6. *pokes email* I still haven't gotten a welcome email. I received the initial application email... but nothing since then.
  7. The way I understand it is that an OC can still report the past due balance as long as they still own the debt. If the debt has been sold or assigned - they can no longer report the past due balance.
  8. KatieBell


  9. She was using it as a credit card - it's a NFCU debit card and those can only be swiped as credit for POS.
  10. There is no place to declare that the assets are jointly held - but hubby has no interest in applying for AMEX... it was my holy grail of credit repair... his was the house we just bought.
  11. Thanks I was just worried that since I'd never rec'd the card from my dad, that it might hinder my backdating attempt.
  12. Yes - it asked for assets. Ours are jointly held, but I listed the full amount.
  13. Just got approved for the BCP! I'm currently an AU on my dad's Delta Skymiles, but I don't have the card. Dad still has a hard time believing I can be trusted with a credit card. How do I go about getting backdated to the Member Since 1987 that is on his card?

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
  • Create New...

Important Information