Originally Posted by
pashber
I'm wondering if people are being approved for the business cards (not only for Ink) based on owning rental property. Since income/loss is reported on Sched E (and not C), do the banks consider it to qualify for a business card? I use a property manager who deducts all expenses from the rental income, so I only get a net rent check.
Well, I'll let you know how mine turns out. In my case, I manage my own rental.
To be honest, I'm not quite sure how they validate business income. They can't see your tax returns unless you submit them, or sign a release like you do when applying for a mortgage.