Can ‘Other Houshold income’ on CC application include adult children

Grumpy_chap

NineStoneCowboy said:

I just wasn’t sure who the ‘household’ bit covered, as this is the first time I’ve had to fill such a form in since she started work. Maybe these companies need to start using a different word than household. 

I agree that the term can be confusing but I think this definition for "household" in the context of CC is the same as for benefits applications:

HillStreetBlues

Can't see it would matter if it is put down as OP's income.

Grumpy_chap

HillStreetBlues said:

Can't see it would matter if it is put down as OP's income.

How so?

If the OP has income of £x, that will secure a certain level of credit facility.

If the OP quotes their income as £x plus whatever the £y income of OP's daughter is, that will secure a different (probably higher) level of credit facility.

However, the OP's daughter has no liability to settle that credit facility if the OP fails to do so.

The OP's daughter might also wish to use their £y income as a means to securing their own credit facility for their own use.  The same income cannot be used to secure credit facility for the OP and also for the OP's daughter.

The OP's daughter's income is not the OP's income.  Putting it down as the OP's income would be incorrect.

th081

This is what it says on the Experian website and seems a reasonable definition :

• Other people's income: Sometimes, you can include a spouse's, partner's or household member's ncome or assets if you have reasonable access to the funds. For instance, if your spouse's income is deposited into a joint account.