Cost of dependants

CliveOfIndia

When you make a credit card application, and it asks how many dependants you've got and how much they "cost" you, what do you put?

Case in point - probably a very common scenario.  I work full time, wife works part time.  My salary pays for the essentials, wife's income pays for the "nice things".  How much do I put down for "cost of dependants" ?  If I lost my job we'd both be in the same boat as regards mortgage etc.  But if I was single, I'd still have all the same costs (well, apart from a bit less on food I guess).  So she doesn't "cost" me anything as such, but is almost totally financially dependent on me.

I'm sure this must be a common situation, but what's the correct figure to put on an application?

Brie

If your wife has an income I wouldn't consider her a dependant. I would have considered my OH as dependent as he didn't have any income until last month when a couple of pensions started to be paid.  Now I wouldn't consider him a dependent even though I have the income that supports our household. 

Children are dependants as they have no income.  As to how you cost that out I haven't a clue!    

blue.peter

The problem here is that it's arguable that neither of you is dependent on the other, but the two of you are interdependent.

I think that I'd be inclined to try to talk to the credit card issuer, hope that you get someone sensible, point out that the question is ambiguous (or, if you prefer, ill-conceived), explain why, and ask them how you should answer.

Nebulous2

I haven't applied for a credit card recently, but lenders usually explain what any terms mean. NatWest for instance says:- 

"A financial dependant is anyone who relies on you financially for things like money, clothes or food. This might include children, relatives, spouses or friends."

It's a bit of a finger in the air exercise, but if you're contributing £1000 a month to running the household, and your spouse is contributing £500, then I'd say she's 'dependent' on you to the tune of £250 a month. It's not about a theoretical comparison with a single lifestyle, but about actual costs. 

I don't see taking it to the penny mattering much, but it would be important to be consistent. Don't try different amounts to game the system. 

CliveOfIndia

Thanks for all the replies.

Nebulous2 said:

I don't see taking it to the penny mattering much, but it would be important to be consistent. Don't try different amounts to game the system. 

That's exactly where I'm coming from - it's no big deal, but I don't want to inadvertently do anything that would raise eyebrows.

The only reason I asked the question was that I saw the 0% zero fee Barclaycard BT card promoted on MSE.  I've got a balance on another 0% card that's ending soon.  I can very comfortably pay it off when the time comes, and actually had no intention of shifting it again - and certainly wouldn't pay even a small fee to do so.  But if there's a no-fee option available, then why not - may as well earn a few more pennies by keeping my savings where they are for a bit longer

Jami74

I decided that while my partner might enjoy the luxuries that come from living with me, I'm pretty sure he would not starve or freeze should I do a runner or meet an early demise. Therefore I don't count him as a dependent. Saying that, I would not try to claim a few years down the line that I can't pay my debts due to partners expensive tastes that they should have known about.