<p>Someone told me you could count your financial aid and scholarships as income when you apply for a credit card. Is this true?</p>
<p>This is an email I got when I applied for a Citi card.</p>
<hr>
<p>Why we’re writing you
Thank you for applying for the Citi(R) mtvU™ Platinum
Select(R) Visa(R) account.</p>
<p>Here’s what you should know
Unfortunately, we are unable to approve the application at
this time because:</p>
<p>Your financial resources do not meet our minimum requirements.
If you wish to tell us of any additional income or
financial assets not stated on the application, please
call us at 1-888-201-4523, 8:00 AM to 8:00 PM, ET, Monday
through Friday. Our telecommunication number for the
hearing impaired is 301-714-5973. Have the reference number
listed above available when you call.</p>
<p>Income can include wages, allowance, stipends, grants,
scholarships, etc. You do not have to disclose alimony,
child support, separate maintenance income, or any
other income unless you wish us to consider it with your
application. Providing this information will continue
the processing of the application. If we do not hear from
you within 30 days from the date of this letter, no
further consideration will be given to your application.</p>
<p>We appreciate your interest and we hope to have the opportunity
to serve you in the future.</p>
<p>Sincerely,</p>
<p>R. M. Pick
Credit Operations Department</p>
<p>I included some of my scholarships on my credit card application (only grants exceeding tuition fees), since the instructions explicitly stated that I could. Monthly allowances from your parents supposedly count as well!</p>
<p>I know I am bumping a very old thread, but it was very helpful in finding out why applications get rejected. Did not know that scholarships count as income. This will make a big difference.</p>
<p>It depends on the bank or credit card company. Please check with each specific one before you include it.</p>