Is it a crime to inflate your salary in a credit card application?

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I was not sure if it was but my sister told me that it is. if it is what are the punishments.
Thanks
Jenna
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Thursday, December 11th, 2008 at 6:54 am. Posted in Credit Card Application. Tags: , , , . You can follow this web articles through the RSS 2.0 feed.

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8 Responses to “Is it a crime to inflate your salary in a credit card application?”

  1. Yes, because you are lying, they will find out when they look into your application. You just won’t get the card. You are not going to get arrested or anything.

  2. perjury,can land you a long prison sentence

  3. No, it’s not a crime. You can’t committ perjury on a credit card application. It is, however, not likely to help you get your credit card, since they will run a credit check on you before giving you the card.
    It’s also not very smart, since the company bases your credit limit on your income — and if they raise your limit based on your lie, you may find yourself in some serious financial difficulties.

  4. It’s a BAD IDEA… They’ll look at your credit report before they send the card, trust me. What’s the harm in having a lower credit limit? You’ll just end up not getting as far in debt as other people have. If you’re afraid that you’ll be denied, just go for a secured credit card and your deposit becomes your limit.

  5. It’s probably considered a crime– but I doubt anyone’s ever been prosecuted for it. For one thing, most credit card companies don’t ask for proof of income– so how will they know you’re lying? If you don’t ever DEFAULT– they really have no reason to care. And if they do find out– it’s doubtful they’ll waste their time on one individual. They’ll just close your account and go after the money you owe.

  6. It would be considered fraud.

    Not all, but many credit card companies (mostly prime companies) do financial reviews. With financial reviews, they will ask for proof of your income.

    Some like AmEx, Chase, etc. do financial reviews fairly consistantly throughout the time you have one or more cards with them.

  7. wyldchyld_royston on December 22nd, 2008 at 6:38 pm

    Yes. I learned this in Business Law and my instructor is a very renowned Attorney.

  8. They will verify the info before sending you a card.

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