Why don't credit card companies list minimum income?

[firesoul453]

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@OptimasPrime wrote:

This makes more sense now. Us Bank Cash + is a visa signature card with a minimum starting cl of 5,000. 

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Hmm, that interesting to know.

But I'd consider my Citi Diamond prefered card to be equivilant to a Visa signature. It has all the same benefits, including It has early access to certain events and concierge. (and they gave me a $5900 limit, Which I believe has a lot to do wtih never missing a payment)

But whatever, i'll get over it.. I really just wanted a cash back card where I get to choose categories so I can fill in the gaps for max cash back.

[trumpet-205]

Citi Diamond Preferred's concierge service is actually provided by Citi, not MasterCard. It can have CL as low as $500. It is not the same as a Visa Signature CC.

If we look at perks, Visa Signature has more perks than World MC. To be honest World MC is not that much different than Platinum MC. World Elite MC however, is more similar to Visa Signature.

Even then, US Bank has more rigorous underwriting requirement than Citi.

[OptimasPrime]

Depending on how long ago you apped for the diamond preferred, it may not be reporting to the credit bureaus yet. Thus, when you apped with us bank they may not have seen that you had a 5k+ tradeline, which certainly wouldn't have helped your chances.

I would suggest that you try to recon with someone else at us bank after citi reports and see if you get lucky and speak with a rep that might not be familiar with the 30k income policy. It can't hurt to try.

[CreditScholar]

That card is actually fairly difficult to get, so its not surprising that you were denied. The point that others are making about having existing 5k CLs is valid as well. If you want a decent chance at better cards (not just this one but others like the CSP as well), you'll need to work on increasing your income. 30k is frankly pretty low, and if it doesn't go up this won't be the last card you'll be denied under the premise of low income.

[Mike360]

Wow that sucks they wasted a hard pull because you don't meet req. I'm have to make a note to stay away from applying for that card in the future.

[Mailak]

I was just looking at the WF Rewards card invite I got today - they do list a minimum income of $12k.

[firesoul453]

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@CreditScholar wrote:
That card is actually fairly difficult to get, so its not surprising that you were denied. The point that others are making about having existing 5k CLs is valid as well. If you want a decent chance at better cards (not just this one but others like the CSP as well), you'll need to work on increasing your income. 30k is frankly pretty low, and if it doesn't go up this won't be the last card you'll be denied under the premise of low income.

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Ya I know.. But in college I have to limit my hours working. (Tried more and it didn't work out so well...)

I definetly got ahead of myself when applying, just really annoys me I got a HP from it.

Its not the end of the world, just wanted to cover more areas in cash back.

Lesson leared...

[Duncanrr]

I believe sharing the specific requirements is illegal.  They are not allowed, by law, to discourage you from applying for their product.  If they said you must have an income of x dollars then that would discourage some from not applying.

[n777ua]

Boy how things have changed...in college I apped for a BankOne United Visa Signature and listed my income as $10,500(my actual PT income)...instantly approved with a $7500CL.  Those times are gone forever....

[CreditScholar]

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@n777ua wrote:

Boy how things have changed...in college I apped for a BankOne United Visa Signature and listed my income as $10,500(my actual PT income)...instantly approved with a $7500CL.  Those times are gone forever....

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Yes they are, but for good reason. Credit was far too easy to get back in those days and had obvious repercussions associated with it. I'm glad they tightened the requirements since then. They've been relaxed somewhat since 2008, but if things don't go very well in the EU we may see credit tighten again in the next 6-12 months.