NEW! Our Hero’s Journey tool can help you with your next step towards financial freedom - click here to try now.
Advertiser Disclosure

Can I lie on a credit card application?

Can I lie on a credit card application?
Image source: Getty Images


If you are experiencing financial difficulties, the temptation may creep in to lie on a credit card application. However, doing so can have some serious consequences. We take a look at the key reasons why it’s a bad idea.

Discover which credit cards you could be eligible for now

Use our free Credit Card Eligibility Checker to discover which credit cards you may be eligible for. It only takes a few minutes and will not affect your credit score!

Find out what credit cards you could be eligible for now

Is it bad to lie on a credit card application?

Yes. It’s not a good idea to lie on a credit card application because it is illegal, ethically wrong and is likely to damage your credit score. Lying on your application to access a card you cannot afford could lead to financial problems and even bankruptcy.

Can you lie about your age on a credit card application?

No. Confirming your age is among the first things credit card lenders do. Most credit card providers only issue credit cards to people aged between 18 and 65. 

What happens if you lie on a credit card application?

You will likely be prosecuted for fraud if caught lying on a credit card application, which could result in a significant fine or even jail time. Such a crime goes on your credit report. If you need credit in the future, you may not be considered regardless of how strong your financial position is.

If you are lucky enough to avoid getting caught when lying on a credit card application, don’t think you’re away scot-free.

There is a reason why lenders have strict requirements. It not only protects them from risk but ensures you’re in a position to make the repayments. If you lie on your credit card application and end up in a situation where you’re unable to make the required payments, that’s when you will get caught.

Could you be rewarded for your everyday spending?

Rewards credit cards include schemes that reward you simply for using your credit card. When you spend money on a rewards card you could earn loyalty points, in-store vouchers airmiles, and more. MyWalletHero makes it easy for you to find a card that matches your spending habits so you can get the most value from your rewards.

What happens if you make a mistake on a credit card application?

Naturally, it’s best to avoid making any mistakes on your credit card application as they reflect poorly on you. Always go through your completed application form more than once to check for errors. It might be in your best interest to have another person go through the form as well. 

The problem with mistakes is that it is difficult to prove to the lender that a particular mistake is genuine. For example, if you provide incorrect employer information, the lender might understandably think you are trying to lie about your income.

Though it might be possible to correct mistakes, it’s likely that the lender may already consider you to be a high risk.

Do credit card providers check your income?

Yes. If you’re employed, a credit card application may require copies of your payslips. Self-employed individuals may need to provide their bank statements and tax returns for the most recent tax year. Your income is used to determine whether you can make your credit card repayments.

Do credit card companies check your bank account?

The short answer is no. However, depending on your source of income, credit card companies may request bank statements. That being said, credit card companies don’t have the right to access your bank account directly from your bank.

What do credit card providers look at for approval?

Credit card companies may look at multiple things when considering whether to approve your application or not. However, the most common factors considered include your:

  • Income
  • Household expenditure
  • Credit score and debts
  • Age

Credit card companies will also ask you to confirm that the information provided on the credit card application form is true and valid.

Was this article helpful?
YesNo

How these 5 credit card ‘must-knows’ could help you…

We all know that a bad credit history makes it hard to borrow money – but did you know that improving your credit score could also help secure lower interest rates on credit cards, saving you hard-earned cash?

Find out how you could improve your credit score, and your credit-application chances, with our free report “5 Things To Know Before You Apply For A Credit Card”.

Just enter you best email below for instant access to your free copy.

By checking this box and submitting your email address, you agree to MyWalletHero sending you emails with money tips, along with details of products and services that we think might interest you. You can unsubscribe from future emails at any time. You also consent to us processing your personal data in line with our privacy policy, and our cookie statement. For more information, including how we collect, store, and handle personal data, please read our Privacy Statement and Terms & Conditions.


Some offers on MyWalletHero are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.