Actually you did see the money at some point. After all, this is the reason you owe money to your credit company; you used their money to buy the items you purchased. If they let you get away without paying the full amount borrowed....yes, that is income; income that you have already spent....

Sorry Sea Maid, I just realized how my last comment sounded. I meant you in the sense of the borrower who borrowed the money. Not you, specifically, since you are not the one in this situation....