Dividends and credit rating

edited 30 November -1 at 1:00AM in Loans
bigmunbigmun Forumite
59 Posts
edited 30 November -1 at 1:00AM in Loans
Hi

If my gross income is £50k but I only take £7488 as salary and the rest as dividend, then if I apply for a credit card or a mortgage, would the bank see me as someone earning £7488 or £50k? In other words, is the banks' notion of income same as the taxman's? Quite a few cards require a minimum of £20k or so. I can sort of understand if banks don't accept dividends, since there's more uncertainty about the continuation of payment.

Thanks!
This discussion has been closed.
Latest MSE News and Guides

Card providers to reserve up to £100

When you pay at supermarket fuel pumps

MSE News

Cheap contents insurance for tenants

DON'T assume your landlord covers you

MSE Guides

Summer sizzlers round-up

Incl £2ish sun cream & £1.50 disposable BBQs

MSE Deals