Students & Credit Cards

System

!!! wrote: »

Actually, yes, stating an incorrect (or inaccurate/untrue) salary does constitute as fraud:

National Hunter (N. Hunter Limited - UK company number 04546325) is a British credit fraud checking agency that operates an "anti-fraud data sharing system", operated by Experian Decision Analytics, on behalf of its members, around 90 British financial institutions, including banks, building societies, mortgage lenders and finance companies. Information entered by applicants for credit within one of the member organisations is recorded in the system, and can be cross-checked against other applications.

For instance, a person applying for a loan with one company and stating their salary as £10,000 could have their application rejected if in a subsequent application for a different product from a different company they stated their salary as £100,000. The process is not fully automated in the way most credit scoring is - suspicious applications are flagged by National Hunter and then checked before an institution makes the decision to decline an application. According to Barclaycard, "Every night, we send it almost all our card applications. Next morning, its computers send them back, either with OK or showing a potential fraud, If it's the latter, then we might decide to contact the applicant, although that may depend on other factors."

I'm fairly sure I rounded my salary up to the nearest £10 when I last applied for a credit card. Can I expect 10 years hard labour? When will Mi5 and SOCA be round at the door?

Come on.... I'm not suggesting LIE on the application. I'm saying put your best estimate (TRUTHFUL) and don't sweat it. Jesus. bigger disasters at sea and all that.