We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Barclaycard Income Request

Options
I have had a Barclaycard Rewards card for a few years now. They're now asking me to update my income information.

The problem is I have literally zero income and am living off savings only and a small amount of interest on the savings. Obviously I did have income when I took out the card. 

Although I can easily afford my card expenditure and clear the balance every month from the savings for quite some time to come (years)  I presume that if I tell them this my card will be withdrawn. If I don't tell them by the deadline next month of my income (and I don't want to lie as no doubt that would be fraud) will they take it from me anyway?

Thoughts?

Comments

  • Probably.

    If you tell them your current situation, they may let you keep it but with a more appropriate limit.
  • DullGreyGuy
    DullGreyGuy Posts: 18,441 Forumite
    10,000 Posts Second Anniversary Name Dropper
    Not necessarily that they'll take it away but as you say you are spending your capital and so its going to last for a finite period (even if years) and so they may reassess your limit etc. 

    Double check what they allow you to count as income, benefits, pensions, regular interest etc can be included with some lenders. 
  • Ebe_Scrooge
    Ebe_Scrooge Posts: 7,320 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    All you can do is tell the truth.  If you lie and get found out, you could end up with a CIFAS marker against you, which can cause a whole heap of problems.
    How are you managing with day-to-day living expenses?  Do you receive any benefits, or a pension?  These can legitimately be cited as "income".  Or are you literally just using your savings and the "small amount" of interest?
    Unfortunately savings are not usually factored into affordability calculations by lenders, since there's nothing to stop you going out tomorrow and blowing the lot on a world cruise or a Ferrari.
  • Alex9384
    Alex9384 Posts: 980 Forumite
    Fifth Anniversary 500 Posts Name Dropper Photogenic

    How are you managing with day-to-day living expenses?  Do you receive any benefits, or a pension?  These can legitimately be cited as "income".  Or are you literally just using your savings and the "small amount" of interest?


    I'm wondering if you can rent out a room in your house to a lodger and use that as a 'rental income'.
     
    EPICA - the best symphonic metal band in the world !
     
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.6K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.