Author Topic: Post FIRE credit card applications  (Read 3572 times)

Gone Fishing

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Post FIRE credit card applications
« on: March 25, 2016, 09:03:55 AM »
What are you putting for employment and income?

Will "Retired" and 4% + PT income still get approved? 

I've been on a roll lately with sign-up bonuses, and would hate to see the gravy train end.  I'm not much of one to get "creative" when it comes to filling out what is basically a legal contract, although I don't see anything that would prevent me from saying I was a landlord/Real Estate professional and reporting my gross rents (vs net) as part of my income.
« Last Edit: March 25, 2016, 09:06:40 AM by So Close »

Financial.Velociraptor

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Re: Post FIRE credit card applications
« Reply #1 on: March 25, 2016, 09:20:15 AM »
What are you putting for employment and income?

Will "Retired" and 4% + PT income still get approved? 

I've been on a roll lately with sign-up bonuses, and would hate to see the gravy train end.  I'm not much of one to get "creative" when it comes to filling out what is basically a legal contract, although I don't see anything that would prevent me from saying I was a landlord/Real Estate professional and reporting my gross rents (vs net) as part of my income.

They haven't been asking.  A 800+ credit score has been enough to satisfy them.

geekette

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Re: Post FIRE credit card applications
« Reply #2 on: March 25, 2016, 09:28:41 AM »
I put in "retired" and $35k, which is about what's on our taxes.  Seems to work.

randymarsh

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Re: Post FIRE credit card applications
« Reply #3 on: March 25, 2016, 09:38:45 AM »
I've never been asked for proof of income. I'd just put Retired and the amount you receive in dividends/rental income/etc.

Worst case is that American Express (they're the ones who do ask for proof it seems) will conduct a "financial review" and ask for a tax return.

kpd905

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Re: Post FIRE credit card applications
« Reply #4 on: March 25, 2016, 05:34:38 PM »
What are you putting for employment and income?

Will "Retired" and 4% + PT income still get approved? 

I've been on a roll lately with sign-up bonuses, and would hate to see the gravy train end.  I'm not much of one to get "creative" when it comes to filling out what is basically a legal contract, although I don't see anything that would prevent me from saying I was a landlord/Real Estate professional and reporting my gross rents (vs net) as part of my income.

They haven't been asking.  A 800+ credit score has been enough to satisfy them.

You always have to put in income on the application.  Are you putting zero?

arebelspy

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Re: Post FIRE credit card applications
« Reply #5 on: April 03, 2016, 02:32:01 AM »
I recently applied for one.  Put self-employed, and the income I expect to make this year.  Approved, no problem.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
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retired?

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Re: Post FIRE credit card applications
« Reply #6 on: April 03, 2016, 06:08:33 AM »
Like others, I've never been asked to show proof.  I say self-employed and 50k.  The solid credit score gets it done.

Funny thing - I can recall from college being bombarded with offers (20 years ago) .  They would throw in a free T-shirt or some incentive to just get you to apply.  Well, often, I liked the incentive, but didn't want a new card.  For income, I put $0....certain that I would be rejected.  Nope.  Approved.

Housing bubble, etc. put an end to those days, I think.  My wife applied for a card recently and put $0 and they did reject the app.  Her credit score is around 800, too. 

I think any minimal amount of income will get it approved.

forummm

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Re: Post FIRE credit card applications
« Reply #7 on: April 03, 2016, 08:10:36 AM »
If the amount you report is a small number they may just give you a lower credit limit. But that probably doesn't matter to you too much if you are FIRE.

Bolshevik Artizan

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Re: Post FIRE credit card applications
« Reply #8 on: April 10, 2016, 08:09:26 PM »
We got ours from our bank who know our total NW. I also put $0 on the income line and got approved - but they know about the 7 figures in the bank...