topic Re: Chase update income/CLI email in Credit Cards

Chase update income/CLI email

Anonymous — Wed, 19 Dec 2018 21:47:06 GMT

I received a routine email from Chase today (image below) asking me to update my income and suggesting that by doing so a CLI could be in store. I'm sure that's just a fluff incentive to get people to actually update their income, but I figured I'd post about it anyway. My question to those that have received this email and/or those that have updated their income, are there any examples of a CLI following shortly after? Also, I'm curious if many of you have received this email recently, perhaps suggesting it's something Chase sends to all cardholders around the same time, or if it goes out periodically based on another factor like length of time since last income update, account anniversary date, etc.

Re: Chase update income/CLI email

delaney1 — Wed, 19 Dec 2018 21:53:56 GMT

I’ve never received an email, but earlier in the year, I did have a message on my account that said the same thing. I did update my income, and a few months later I saw that I’d received a CLI. I recently saw this message again, so I updated again lol. It can’t hurt, right.

Re: Chase update income/CLI email

Anonymous — Wed, 19 Dec 2018 22:11:17 GMT

Out of curiosity, when you updated your income last time that may have stimulated a CLI, by what % increase did your reported income with them go up? Just curious if it was something small like a routine 2% inflation type increase, or if you had a significant (say) 10%+ income increase.

Re: Chase update income/CLI email

kerplunk — Wed, 19 Dec 2018 22:40:44 GMT

I’ve never received that email, but I update my income with Chase annually and have had two credit cards with them for 15 years with no auto CLI in the past 10 years. They are stingy.

Re: Chase update income/CLI email

CreditCuriosity — Wed, 19 Dec 2018 23:08:58 GMT

All CC's do this yearly or should, nothing special. If one was to get a CLI from it I doubt there is any correlation between updating income and a CLI especially with Chase. If you use a good portion of your CL with then then sure there is a chance you will get a CLI, but from this email or request we all get yearly i doubt any of us see an increase on current cards just so Chase can keep their records up to date

Re: Chase update income/CLI email

Loquat — Thu, 20 Dec 2018 01:04:23 GMT

I've received this email before. Last one was about a month ago. Not the first time I've received it and probably won't be the last. Nonetheless I've never received anything from it. Like CC said, I'm sure it stems from a need to annually update information.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 01:14:51 GMT

I agree with all of you that it's just a ploy to get people to update/verify their income.

I find their approach interesting though, sort of as if they are dangling a carrot. If you look at the body of the email, the first point references a potential "CLI boost." Below that, it tells you to update your income. This just seems well thought out; Want a CLI? Update your income and you may get it. Smart on the part of Chase, no doubt. They probably get a significantly greater number of people to update their income info this way compared to a traditional non-carrot-dangling email.

Re: Chase update income/CLI email

redpat — Thu, 20 Dec 2018 01:25:03 GMT

Got, ignored it. Lol, CSR CL is 50k

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 02:30:04 GMT

Capital One sends these out too. Never has one resulted in a near term CLI but I have had 3 auto CLIs total (after my credit steps auto CLI) so I am sure it factored into that but those all came months after updating my income.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 02:58:23 GMT

Interesting. I can't recall ever getting one of these from Capital One and I've had that account quite a bit longer than my Chase accounts.

Re: Chase update income/CLI email

HeavenOhio — Thu, 20 Dec 2018 04:23:29 GMT

I recall Capital One prompting me from within my account way back when. I've been requesting CLIs regularly for my three cards over the past couple of years, though. Since a CLI request involves updating one's income, there's been no need for a prompt.

I've received the in-account prompt from Chase, but I don't recall if I received an e-mail or not. The prompts didn't result in any auto-CLIs.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 05:12:57 GMT

I received it about a month ago. Updated income from the website(not through the link) nothing happened yet.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 07:48:05 GMT

@Anonymous wrote:
Interesting. I can't recall ever getting one of these from Capital One and I've had that account quite a bit longer than my Chase accounts.

I’ve gotten them twice that I can think of. It says something very similar to the Chase email - make sure your income is updated to be considered for credit line increases.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 08:20:12 GMT

Periodically receive income up date requests from Chase, Barclays, FNBO and Citi. Not once did I receive a credit line increase. Note, as another poster mentioned the financials are suppose to know our income etc on an annual basis (read this somewhere a long while back) as it is part of the not issuing more credit than the borrower can handle (nebulous as to standards - lender choice).

Re: Chase update income/CLI email

_NERD — Thu, 20 Dec 2018 08:25:04 GMT

I think I get these every year. I’ve seen them from Marvel, Cap 1, Citi, SyncB Walmart and I forget who else. I’ve never received a CLI in exchange for updating income.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 13:13:09 GMT

Right. It seems the dangling of a potential CLI is a ploy to get more people to update their income. Makes sense to me.

Re: Chase update income/CLI email

rbentley — Thu, 20 Dec 2018 13:25:42 GMT

Regulations under the Credit Card act require lenders to ask for this information. Customer compliance is voluntary.
https://www.creditcards.com/credit-card-news/credit-card-company-asking-for-my-income.php

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 13:27:33 GMT

Ask for it yes, 100% true. Ask for it whie giving hope to achieve a potential CLI would be a lender-specific tactic.

Re: Chase update income/CLI email

iced — Thu, 20 Dec 2018 13:52:58 GMT

@Anonymous wrote:
I received a routine email from Chase today (image below) asking me to update my income and suggesting that by doing so a CLI could be in store. I'm sure that's just a fluff incentive to get people to actually update their income, but I figured I'd post about it anyway. My question to those that have received this email and/or those that have updated their income, are there any examples of a CLI following shortly after? Also, I'm curious if many of you have received this email recently, perhaps suggesting it's something Chase sends to all cardholders around the same time, or if it goes out periodically based on another factor like length of time since last income update, account anniversary date, etc.

In my experience, there's two mailers that Chase sends out. There's the one you got above, that's, as you put, a general fluff piece. Then there's a mailer where they say you're getting a soft-pull CLI, but how much of one is dictated by the numbers you punch in for income.

For the first mailer (the one you got), I see it about twice a year. Nothing special.

I've never received the second mailer, though my SO has. She's received two, though she only followed through on one and that resulted in an instant $4,000 CLI to one of her cards.

Re: Chase update income/CLI email

Anonymous — Thu, 20 Dec 2018 15:39:34 GMT

I got the same email a couple nights ago... I think they just send them out periodically, as I got one several months ago. I did not update my income since it hasn't changed in the 10 months since I got the card, and when it eventually does, it will probably be a whopping 2-3%... not enough for a worthwhile CLI even if I wanted one.

I have auto CLIs turned off on all my cards, so it doesn't matter if I update my income or not anyway.