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What should I put as yearly income when asking for loans/credit card?
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nicetomeetyou
Posts: 310 Forumite
When applying for loans or credit cards it asks for my yearly income... I have an appointee (social services) that manages my benefits and all my benefits are paid direct to them. My income from benefits is £15.600 a year. I have proof of this from benefit entailment letters.
But my appointee pays me a personal allowance which is £6500 a year into my account.
When asked for yearly income do I put the £15.600 or £6500..?
Last year I got a Vanguis credit card and they asked for proof of income and they were happy with me sending them my benefit entailment letters as proof of income.
Do you think the likes of ClearScore have access to information about my true income or just what I get paid into my personal account, do they take into account what my appointee gets paid which is £15.600, I assume that social services have an account in my name and ClearScore can see that? Or do they just see the £6500? if that makes sense?
But my appointee pays me a personal allowance which is £6500 a year into my account.
When asked for yearly income do I put the £15.600 or £6500..?
Last year I got a Vanguis credit card and they asked for proof of income and they were happy with me sending them my benefit entailment letters as proof of income.
Do you think the likes of ClearScore have access to information about my true income or just what I get paid into my personal account, do they take into account what my appointee gets paid which is £15.600, I assume that social services have an account in my name and ClearScore can see that? Or do they just see the £6500? if that makes sense?
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What happens to the other £9,100?"Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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If that is your income from benefits, £15,600 then i would put that. Also, as far as I can see, Clearscore and the like don't have access to your income figures.0
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Right, I see. Well your income is £15,600.nicetomeetyou wrote: »£130 a month for my gas/electric/water/internet/sky/landline/Spotify/odeon limitless (£1560)
- this is paid from direct from appointee.
The rest I have to spend on holidays. I have a new iMac every few years. Waste a lot of it on crap."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
Clear score have no access to any information whatsoever about your income.0
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nicetoseeyou - from your other posts
"I have finally been pre-approved for a £3.000 loan after my ClearScore upped my credit score. This is what I've been working towards all last year. With my £650 overdraft and £500 credit card"
What income did you use then?Never pay on an estimated bill. Always read and understand your bill0 -
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nicetomeetyou wrote: »£130 a month for my gas/electric/water/internet/sky/landline/Spotify/odeon limitless (£1560)
- this is paid from direct from appointee.
The rest I have to spend on holidays. I have a new iMac every few years. Waste a lot of it on crap.
Sorry, but if you already "waste a lot of it on crap" why on earth do you want or need a loan or credit card.
Can you not stop buying "crap" and start saving?How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0 -
nicetomeetyou is doing really well on the saving front, as they are putting aside £290/month into savings. (I took this figure from their other thread in the Budgeting board)Sorry, but if you already "waste a lot of it on crap" why on earth do you want or need a loan or credit card.
Can you not stop buying "crap" and start saving?
I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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"I have finally been pre-approved for a £3.000 loan after my ClearScore upped my credit score. This is what I've been working towards all last year. With my £650 overdraft and £500 credit card"
Congratulations but your approval had nothing to do with ClearScore upping your credit score.0
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