If you are applying for a credit card, chances are you will come across the term “Accessible Income”. But what is accessible income on a credit card application? This term represents all of the income you have access to, not just income that comes from your regular paycheck. The higher your accessible income listed on the credit card application equates to potentially receiving a higher spending limit in addition to an overall lower interest rate.

what is accessible income on credit card application

Types of Income Listed on a Credit Card Application

In addition to accessible income on a credit card application, there are other types of income that should be listed not just on a credit card application but should be considered on generally any loan application or application for some form of credit. Here is a listing of the income types that should be considered outside of the definition of accessible income. Those income types include the following:

  • Hourly pay
  • Self-employment income
  • Salary
  • Rental income
  • Social security income
  • Short-term and long-term disability income
  • Investment income

What Can Be Used as Proof of Accessible Income

In order to prove the actual amount of income that is available on a credit card or loan application, some of the acceptable and most common documentation for proof of income includes the following:

  • Paystubs
  • Bank statements (personal and business)
  • Prior years tax returns
  • W2
  • 1099
  • Letters from an employer
  • Social security benefits statements
  • Pension distribution statements
  • Annuity statement
  • Court-ordered awards letter
  • Interest and dividend income statement
  • Workers compensation letter

accessible income on credit card application meaning

All of these forms of income should be included as accessible income and household income on a credit card application. If you are applying for a credit card to build credit or repair your credit, always make sure to document all of the accessible forms of income, income always helps.