4d • Gems
The "Cheat Sheet": What to Put on the Application
The bank’s computer (the algorithm) is looking for specific "Green Flags." Here is how you answer the tricky questions like a 10-year-old playing a video game on "Easy Mode":
1. Total Annual Income (The "House" Rule)
- Don't Forget: You don't just put your hourly wage. You can legally include:
- Why: Higher income = Higher credit limit.
2. Housing Payment
- The Hack: If you live with parents or a roommate and pay $0 in rent, put $0.
- Why: The bank subtracts your rent from your income. If your rent is $0, you have more "Disposable Income," which makes you look like a safer bet to the bank.
3. Employment Status
- Pro Tip: If you have a side hustle, don't just put "Unemployed" if you quit your 9-to-5. Put "Self-Employed." * Business Name: Use your LLC name if you have one. If not, your "Business Name" is just your Legal Name.
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The "Cheat Sheet": What to Put on the Application
