The legalities of applying for a Cashback card.

benjdr

Afternoon all,

I am wanting to apply for a cashback which will be my first credit card.
Obviously, I've read the article and noticed that the Amex 5% card is currently the best available.

Now then, I've also read that your application can be hampered by recently moving house, so here is my question:
I have recently bought my first house (mortgage obviously), but I am in the process of renovating it, so am still living with my Mother. None of my existing bank accounts are registered at my new home, and are still at my Mothers.
So when I apply for the card, can i safely put down my mothers address, where i am currently living, or am i going to get bit in the !!!! later on?

This raises a further question of what to put down for the income of the household, since me, my partner, my mother and her husband are all living at current abode. The new house is owned my myself and my partner.

So what do i do money savers?

Cheers,
Ben

gt94sss2

benjdr wrote: »

Now then, I've also read that your application can be hampered by recently moving house, so here is my question:
I have recently bought my first house (mortgage obviously), but I am in the process of renovating it, so am still living with my Mother. None of my existing bank accounts are registered at my new home, and are still at my Mothers.
So when I apply for the card, can i safely put down my mothers address, where i am currently living, or am i going to get bit in the !!!! later on?

Put your current address where you currently live.

Before you apply for credit at your new address (and after you move in), make sure you have added yourself to the electoral roll there

One point to note: as this is your first credit card, you may not get a cashback card - they like to give them to people who have existing credit cards. As such you may want to apply for a 'standard' credit card with your bank and then, after a few months, apply for a cashback credit card.

Regards
Sunil

jonesMUFCforever

You should put down your income not other family members.

PBA

ejones999 wrote: »

You should put down your income not other family members.

Credit cards tend to ask for your income, and also total household income. Dictionary.com defines "household" as "the people of a house collectively; a family including its servants" (and a couple other very similar definitions), so you can safely put down the total of everyone living under that roof.

MrsMillar

I think the term "household" in this context depends on financial interdependency. Unless you share a pool of cash with your parents, I would just put yours and your partner's incomes.

As an illustration, when I used to work for a market research company, we were told that a "student", for example, will count as a household of "one" even if they share a house with four or five other people. This is because the occupants of the house are financially independent of each other in terms of their income.

jonesMUFCforever

PBA wrote: »

Credit cards tend to ask for your income, and also total household income. Dictionary.com defines "household" as "the people of a house collectively; a family including its servants" (and a couple other very similar definitions), so you can safely put down the total of everyone living under that roof.

Absolute rubbish.
When applying for a sole card it is your own income that is important not that of your parents or the cat!

PBA

ejones999 wrote: »

Absolute rubbish.
When applying for a sole card it is your own income that is important not that of your parents or the cat!

Have a look at a credit card application form. The ones I have here ask for Gross annual income, which is your own, then the box underneath asks for Partner/spouse income. Other card companies ask for household income. If the card company is specifically asking for this information then they deem it important, and it should be put down. OP was asking what constitutes a household, so I provided a definition (and couldn't find a definition that was significantly different).