topic Re: Does Capital One check income? in Credit Cards

Does Capital One check income?

Anonymous — Sun, 01 Nov 2020 22:11:37 GMT

Greetings,

Foreign national, no income in US, employed by well known global corporation, decent credit score in 750-is range. Capital One offered apply for Quicksilver card and I'm about to pull a trigger but wondering how do they check if I have income and if they check it at all?

I can generate a letter from HR portal which will be saying that I'm employed since <date> with salary <x> per year, but that's it. Would that be enough and if not, what other proof of income can they ask for? In my country it's usually payslips for last 3 months but I'd assume format would be fairly different so not sure if Capital One would accept them.

I already have Citi Premier card with 10K limit and Citi did not ask for employment at all when they were issuing it, so wondering if Capital One is any different.

Thank you!

Re: Does Capital One check income?

FinStar — Sun, 01 Nov 2020 22:15:26 GMT

Depending on your overall profile, there are instances (although rare) where paystubs have been requested on pending applications. They also tend to use theworknumber as an alternative resource. Just make sure to include a verifiable income amount in the event they may ask.

Re: Does Capital One check income?

Anonymous — Sun, 01 Nov 2020 22:39:20 GMT

Capital One also uses "the work number" to validate income , I see them peak at mine 1-2 times a year. If your employer participates, Cap 1 will be able to see all your paychecks.

Only credit card I have, that peaks at this info 😤 lol

Re: Does Capital One check income?

Jnbmom — Sun, 01 Nov 2020 23:12:15 GMT

@Anonymous wrote:
Capital One also uses "the work number" to validate income , I see them peak at mine 1-2 times a year. If your employer participates, Cap 1 will be able to see all your paychecks.
Only credit card I have, that peaks at this info 😤 lol

Seriously?? Thank god I don't have them in my wallet anymore . A little too invasive for me 😡

Re: Does Capital One check income?

Anonymous — Sun, 01 Nov 2020 23:27:47 GMT

Thank you for replies, appreciate it.

So what would be the worst outcome and possible impact on credit score If I won't be able provide proof of income if requested?

Re: Does Capital One check income?

chiefone4u — Sun, 01 Nov 2020 23:32:52 GMT

@Anonymous wrote:
Thank you for replies, appreciate it.
So what would be the worst outcome and possible impact on credit score If I won't be able provide proof of income if requested?

Worst case would be denial of card, HP of all three CRA's and possibly a fraud block placed for future accounts with Capital One.

Re: Does Capital One check income?

FinStar — Sun, 01 Nov 2020 23:45:35 GMT

Definitely a denial and 3 HPs with no prize. Minor ding-a-ling to scores.

Are you deadset on Capital One or have you explored other options given your profile/background?

Re: Does Capital One check income?

Anonymous — Sun, 01 Nov 2020 23:52:29 GMT

TBH I did not explore anything, since I already have 360 account with them and it was pretty easy to open this Quicksilver card ticks few boxes - no FTF matters as I'll be using it overseas, no annual fee as I don't really need another credit card and cashback, which is not available from local banks.

Re: Does Capital One check income?

FinStar — Mon, 02 Nov 2020 00:02:11 GMT

@Anonymous wrote:
TBH I did not explore anything, since I already have 360 account with them and it was pretty easy to open this Quicksilver card ticks few boxes - no FTF matters as I'll be using it overseas, no annual fee as I don't really need another credit card and cashback, which is not available from local banks.

Is the Citi Premier (which has an AF) the only U.S.-issued CC you have?

Re: Does Capital One check income?

Anonymous — Mon, 02 Nov 2020 00:08:52 GMT

@FinStar wrote:
Is the Citi Premier (which has an AF) the only U.S.-issued CC you have?

Yes

Re: Does Capital One check income?

FinStar — Mon, 02 Nov 2020 00:09:48 GMT

@Anonymous wrote:
@FinStar wrote:
Is the Citi Premier (which has an AF) the only U.S.-issued CC you have?
Yes

How long have you had Citi Premier?

Re: Does Capital One check income?

Anonymous — Mon, 02 Nov 2020 00:12:21 GMT

@FinStar wrote:
How long have you had Citi Premier?

2.5 years

Re: Does Capital One check income?

Anonymous — Mon, 02 Nov 2020 00:18:56 GMT

Also, whe C1 sends emails like

"Thanks for using CreditWise from Capital One. We invite you to apply for our Quicksilver card from Capital One.

[...]

This offer expires December 26, 2020."

Does it actually mean they're likely to issue the card or is it just sent to everyone with particular CreditWise score?

Re: Does Capital One check income?

rostrow416 — Mon, 02 Nov 2020 00:43:36 GMT

They requested tax statements from me earlier this year for an app. I don't know if it had to do with income or because of an extended fraud alert on my CRs.

Re: Does Capital One check income?

FinStar — Mon, 02 Nov 2020 00:56:45 GMT

@Anonymous wrote:
Also, whe C1 sends emails like

"Thanks for using CreditWise from Capital One. We invite you to apply for our Quicksilver card from Capital One.
[...]
This offer expires December 26, 2020."

Does it actually mean they're likely to issue the card or is it just sent to everyone with particular CreditWise score?

The invitation is simply a marketing offer to extend additional products. It is not a pre-qualified offer, unfortunately.

Re: Does Capital One check income?

MisterWives — Mon, 02 Nov 2020 03:03:29 GMT

@Anonymous wrote:
Greetings,

Foreign national, no income in US, employed by well known global corporation, decent credit score in 750-is range. Capital One offered apply for Quicksilver card and I'm about to pull a trigger but wondering how do they check if I have income and if they check it at all?

I can generate a letter from HR portal which will be saying that I'm employed since <date> with salary <x> per year, but that's it. Would that be enough and if not, what other proof of income can they ask for? In my country it's usually payslips for last 3 months but I'd assume format would be fairly different so not sure if Capital One would accept them.

I already have Citi Premier card with 10K limit and Citi did not ask for employment at all when they were issuing it, so wondering if Capital One is any different.

Thank you!

I'm not exactly sure how it will effect you, but there's really no harm in trying in my opinion at most they will deny you. This is in reason if they do ask for your income state that you are not sure if income from another country counts but put it down anyways. Honestly i'm not sure how it works for foreigners I assume there is a different process considering you usually have to enter your social security number to apply which will be obvious if you're a U.S. citizen.

They might check though if some red flags come up I know certain company algorithms utilize zip code, job title, and whatever company is reported on your credit report if those don't match they might require more information or verification.

Re: Does Capital One check income?

Anonymous — Mon, 02 Nov 2020 03:29:11 GMT

@MisterWives wrote:
I'm not exactly sure how it will effect you, but there's really no harm in trying in my opinion at most they will deny you. This is in reason if they do ask for your income state that you are not sure if income from another country counts but put it down anyways. Honestly i'm not sure how it works for foreigners I assume there is a different process considering you usually have to enter your social security number to apply which will be obvious if you're a U.S. citizen.

You don't have to be a US citizen to get SSN, I got it while I was in US couple of weeks few years years ago on a temporary non-immigrant visa, it was as easy as visit some govt venue in person and fill in really short paper form.

There's no income on my credit report, it actually lists just one Citi Premier credit card for couple of years. When I was opening Captal One 360 I was asked email scan of my passport and copy of SSN card, nothing else, but as I understand rules for CC are a bit different.

Re: Does Capital One check income?

MJ-san — Mon, 02 Nov 2020 15:43:26 GMT

Cap1, Amex, Citi, Chase, US Bank, Synchrony all use theworknumber...

@Jnbmom wrote:
@Anonymous wrote:
Capital One also uses "the work number" to validate income , I see them peak at mine 1-2 times a year. If your employer participates, Cap 1 will be able to see all your paychecks.
Only credit card I have, that peaks at this info 😤 lol
Seriously?? Thank god I don't have them in my wallet anymore . A little too invasive for me 😡

Re: Does Capital One check income?

Anonymous — Mon, 02 Nov 2020 18:26:46 GMT

@Anonymous wrote:
Capital One also uses "the work number" to validate income , I see them peak at mine 1-2 times a year. If your employer participates, Cap 1 will be able to see all your paychecks.
Only credit card I have, that peaks at this info 😤 lol

Interesting, yet they still nag me to update it...

I never do out of spite. lol

Re: Does Capital One check income?

MisterWives — Tue, 03 Nov 2020 12:03:53 GMT

@Anonymous wrote:
@MisterWives wrote:
I'm not exactly sure how it will effect you, but there's really no harm in trying in my opinion at most they will deny you. This is in reason if they do ask for your income state that you are not sure if income from another country counts but put it down anyways. Honestly i'm not sure how it works for foreigners I assume there is a different process considering you usually have to enter your social security number to apply which will be obvious if you're a U.S. citizen.
You don't have to be a US citizen to get SSN, I got it while I was in US couple of weeks few years years ago on a temporary non-immigrant visa, it was as easy as visit some govt venue in person and fill in really short paper form.

There's no income on my credit report, it actually lists just one Citi Premier credit card for couple of years. When I was opening Captal One 360 I was asked email scan of my passport and copy of SSN card, nothing else, but as I understand rules for CC are a bit different.

Ah interesting I didn't know that. There isn't income on my credit report either don't think they put that kind of information on the report especially considering they ask you to update your income when doing CLI. They kinda just take your word on it for the most part as long as you don't claim something outrageous for an income and even then at most they ask for paystubs, but out of all my cards only one has done that and it was a credit union.

You might want to ask how should foreign income be reported for credit card applications in a new topic as I assume you might be looking outwards to other cards than capital one and you might face this problem again. That said I don't really think it matters much as income verification doesn't really seem to be a strict item. If it really came down to it you can just play dumb and say you didn't know as most underwriters are human and understanding I find.