Comments on: Is lying about income on a Credit Card application illegal?

By: Mutt

Mutt — Mon, 15 Feb 2010 17:58:18 +0000

Yes it is. But the law will not get involved unless you did so with the intend of getting a higher credit limit and not intending to pay it back. Most likely they will just cancel the card and demand you pay the balance.

By: MagnusMoss

MagnusMoss — Sun, 14 Feb 2010 23:06:53 +0000

Yes, it is illegal. Lying to get someone to agree to a financial transaction is fraud.

No, they probably won’tfoind out.

Are you feeling lucky, punk?

It’s probably not worth it. I don’t think they even pay much attention to the income. A surprising number of lenders do not.

By: Nicole

Nicole — Sat, 13 Feb 2010 12:00:54 +0000

Would be best if you don’t lie credit card fraud is a big time trouble. I was charged with credit card fraud and got 4 years in prison my situation was a little bit different than that and I had some other charges against me.

By: bustersmycat

bustersmycat — Sat, 13 Feb 2010 10:21:09 +0000

fraud is a crime. depends on whether one would consider your lie to constitute fraud from a legal standpoint.

Besides, credit cards are about the worst form of personal loan you could use. They practice legalized usury. Having a lower limit is likely better for you anyway.