Updating annual income to CC issuers

Anonymous · ‎12-28-2014

When I apped for my first cards in my rebuilding process, I simply took my hourly wage and projected it over the course of a year to supply an annual income amount. I knew I made more than that. Now that the end of the year is here, I comfirmed what I figured. I make substantially more. IIRC, I used $38K as annual income. According to my latest pay stub, I'm at $50K. Looking back through my previous tax returns shows actual earnings of close to $50K. Would it be of any benefit to update my actual earnings to my CC issuers?

Anonymous · ‎12-28-2014

@Anonymous wrote:
When I apped for my first cards in my rebuilding process, I simply took my hourly wage and projected it over the course of a year to supply an annual income amount. I knew I made more than that. Now that the end of the year is here, I comfirmed what I figured. I make substantially more. IIRC, I used $38K as annual income. According to my latest pay stub, I'm at $50K. Looking back through my previous tax returns shows actual earnings of close to $50K. Would it be of any benefit to update my actual earnings to my CC issuers?

I don't think as a matter of routine you need to notify them about income changes ( though there are a few companies where you can do this online) but certainly do so if applying for a credit limit increase or another of their products

takeshi74 · ‎12-29-2014

@Anonymous wrote:
Would it be of any benefit to update my actual earnings to my CC issuers?

Could be of benefit for autoCLI's.

Anonymous · ‎12-29-2014

That's what I was thinking. I'm on my second card with Cap 1 in the credit steps program. The first graduated with a $2000 CLI from $300 to $2300. The second will graduate in April. When DW applied, she used an income closer to what I actually make and her card graduated from $300 to $3300. Our CR's and scores are very similar, so I was thinking it might have been the income that made the difference. Especially since we used the cards about the same.