Although credit cards make it easier for anyone to purchase items, the same can’t be said about applying for one. Before a lender can hand you a card, they want to know first if you can repay the money you technically borrow.
When you’re applying for a credit card, lenders will look at your financial details, such as your income, your current employment status, how much you’re paying for rent or mortgage and any outstanding debts you might have.
It’s tempting to lie on your credit card application if only to convince lenders that you can stay on top of payments. But no matter how financially capable you are, lying on a credit card application is a crime in Florida.
False statements as to financial condition
Per state law, a person commits a crime if they – directly or indirectly – make any false statement about their financial condition to obtain a credit card. This offense is a misdemeanor of the first degree.
The penalties for false statements
A person convicted of making false statements about their financial condition faces up to one year of prison time and $1,000 in fines. Lying on a card application is also a federal crime; a conviction for a federal charge can lead to up to 30 years of prison and $1 million in fines.
In addition, if a lender discovers that a person has lied on their application, it might ask the cardholder to repay their debt immediately, putting them in a fiscal bind.
To summarize, lying on a credit card application is a punishable crime – on both the state and federal levels. Although a state conviction only leads to a year of prison, a federal conviction could land you decades of imprisonment and a hefty fine.