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I requested a credit line increase with BOFA. I am self-employed, and they asked for my expected income. I got the credit line increase, and the rep said he was required to send the income information to the federal government. How long have they been doing this? This is the first time I have been told this, and I have many cards and excellent credit.

Ben Miller
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L. Carrier
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  • Never heard of it. Are you sure he wasn't just saying that to ensure you're reporting correct data? – littleadv Jan 25 '16 at 17:57
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    Also, you're mentioning "expected income". Wouldn't a decision rather be based on past income? I doubt the IRS would be much interested in your "expected" income, only your actual income. – jcaron Jan 25 '16 at 18:07
  • I wish the linked duplicate had better answers. Neither the accepted answer nor the other two really answer the question - though it certainly is a duplicate. (I also wish I knew enough to answer it.) – Joe Jan 25 '16 at 22:28
  • Though actually, thinking about it - does it completely answer the question? The question here is about sending the information to the federal government, and I don't see the linked question having that specific information. – Joe Jan 25 '16 at 22:29

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