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LegalGems, Lawyer
Category: Consumer Protection Law
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If I apply secured card online, can I list the income job

Customer Question

If I apply for a secured card online, can I list the income for a job that I have a contingent offer for? It's based on commissions, so I'm guessing I'll earn 15k for the remainder of the year, but commissions can be unpredictable. Can I just put my best guess and not risk getting in trouble for credit fraud?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  LegalGems replied 1 year ago.

The amended Credit Card Act allows an applicant to list any income to which they have a reasonable expectation- so one can list anticipated commissions based on representations made by the employer as to what one can expect to be paid. Fraud requires the willful and knowing intent to deceive, so if the individual was not as successful as anticipated that is not fraud.

So yes, a good faith estimate is usually sufficient.

Expert:  LegalGems replied 1 year ago.

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