topic Re: Capital One: “Income is insufficient. in Credit Card Applications

Capital One: “Income is insufficient.”

Ficoproblems247 — Sat, 02 Jan 2021 21:43:29 GMT

It has been over 181 days since my last QS CLI so I hit them up. Normally this card is mostly SDd but I actually put some spend on the card by accident last month because for some reason it was setup as my default card for eBay and I clicked one screen too far without checking my payment method. Oops. They replied with the reason of my income being insufficient. I must be at my internal limit with Cap1. QS CL is at $5,500. Total CL with them is $21,500. Income is $65,000. Just thought it was an interesting DP since you don't see too many post that one.

Re: Capital One: “Income is insufficient.”

FinStar — Sat, 02 Jan 2021 21:54:57 GMT

You mention "Total CL with them is $21,500". What other accounts do you have with Capital One that are not listed in your signature?

Re: Capital One: “Income is insufficient.”

Curious_George2 — Sat, 02 Jan 2021 22:30:29 GMT

I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.

Re: Capital One: “Income is insufficient.”

mgood — Sun, 03 Jan 2021 03:45:26 GMT

I often feel that my income is insufficient.

Re: Capital One: “Income is insufficient.”

Anonymous — Sun, 03 Jan 2021 03:48:14 GMT

@Curious_George2 wrote:
I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.

That's definitely not the case. I was only ~$500 from having my full income in credit with them before they slashed my QS earlier this year for low use and I still have about 64% exposure with them after. I suspect it's YMMV like anything else.

Re: Capital One: “Income is insufficient.

blindambition — Sat, 22 Jan 2022 04:19:35 GMT

@Curious_George2 wrote:
I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.

I know that can't be correct, because @Saeren had $10k on SO and $8.25k on a VO. He's LI and that would have been close to entire income.

ETA: Saeren snuck in while I took call.

Re: Capital One: “Income is insufficient.”

Ficoproblems247 — Sun, 03 Jan 2021 04:17:33 GMT

@FinStar wrote:
You mention "Total CL with them is $21,500". What other accounts do you have with Capital One that are not listed in your signature?

I have a 16K Savor. Should be showing in my siggy.

Re: Capital One: “Income is insufficient.”

Ficoproblems247 — Sun, 03 Jan 2021 04:21:07 GMT

@Anonymous wrote:
@Curious_George2 wrote:
I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.
That's definitely not the case. I was only ~$500 from having my full income in credit with them before they slashed my QS earlier this year for low use and I still have about 64% exposure with them after. I suspect it's YMMV like anything else.

Yeah I remembered seeing you post about your exposure with them being super high compared to your income. It must just be something in my profile that makes them not want to go any higher with me. Wish the limits on my two cards were flip flopped. Certainly don't need 16k on a restaurant card lol.

Re: Capital One: “Income is insufficient.”

Anonymous — Sat, 22 Jan 2022 04:21:36 GMT

@Ficoproblems247 wrote:
@Saeren wrote:
@Curious_George2 wrote:
I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.
That's definitely not the case. I was only ~$500 from having my full income in credit with them before they slashed my QS earlier this year for low use and I still have about 64% exposure with them after. I suspect it's YMMV like anything else.
Yeah I remembered seeing you post about your exposure with them being super high compared to your income. It must just be something in my profile that makes them not want to go any higher with me. Wish the limits on my two cards were flip flopped. Certainly don't need 16k on a restaurant card lol.

Yeah I have the same problem with a $2K QS and $10K SO now.

It's really hard to figure out Capital One. Maybe their insufficient income is like NFCU's maximum exposure. Who knows.

Re: Capital One: “Income is insufficient.”

Curious_George2 — Sat, 22 Jan 2022 04:22:34 GMT

@Saeren wrote:
@Curious_George2 wrote:
I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.
That's definitely not the case. I was only ~$500 from having my full income in credit with them before they slashed my QS earlier this year for low use and I still have about 64% exposure with them after. I suspect it's YMMV like anything else.

Good counterpoint. I was being too quick to draw broad conclusions from one DP. My bad.

Interesting that this denial reason doesn't come up more often. Sadly, with them being so stingy with CLIs at the moment, there aren't likely to be many opportunities to test this rule. Maybe someday...

Thanks for sharing this @Ficoproblems247, and for quickly setting me straight @Saeren and @blindambition. 😀

Re: Capital One: “Income is insufficient.”

Ficoproblems247 — Sat, 22 Jan 2022 04:23:52 GMT

@Curious_George2 wrote:
@Saeren wrote:
@Curious_George2 wrote:
I'm sorry for your denial, but thank you for sharing that DP. Looks like 1/3 of income is their exposure limit. Good to know.
That's definitely not the case. I was only ~$500 from having my full income in credit with them before they slashed my QS earlier this year for low use and I still have about 64% exposure with them after. I suspect it's YMMV like anything else.
Good counterpoint. I was being too quick to draw broad conclusions from one DP. My bad.

Interesting that this denial reason doesn't come up more often. Sadly, with them being so stingy with CLIs at the moment, there aren't likely to be many opportunities to test this rule. Maybe someday...

Thanks for sharing this @Ficoproblems247, and for quickly setting me straight @Saeren and @blindambition. 😀

No problem. I don't normally share my CLI denials (I would be posting way too often lol!) but I hadn't seen this one personally so I thought I'd share. ALSO, I'm not even bummed out about it, I absolutely do not need higher limits on my Cap1 cards, it was just CLI time for that card, so why not. Capital One seems to be the most polarizing lender on these forums, you either love them or loathe them. People feel so strongly either way it's like reading about politics haha. Personally, I love them. They have been there for me when my profile was in the dump, and helped me rebuild twice now. They saved me from having to turn to predatory lenders to get the job done. I love their interface and they have been nothing but a good, reliable lender to me. I think if you know how they operate before you try and do anything/get anything from them and you have those tempered expectations, you'll have a better experience.

Re: Capital One: “Income is insufficient.”

user979797 — Sat, 22 Jan 2022 04:01:39 GMT

I have had my QS card for almost 3 years now. It stopped being increased at 4500 and ever since no matter what I do I get the dreaded "income is insufficient" notice even with a ton of spend. Yet they increased my Savor One limit by 4K; so if my income is insufficient for a increase on QS how come not Savor One? I thought I might be at my max with them until I got the Savor increase so now I do not know what it means but thank you for sharing.