topic Re: CapitalOne Income Update Request in Credit Cards

CapitalOne Income Update Request

Horseshoez — Thu, 19 Jan 2023 19:51:32 GMT

Well this was interesting; I opened this card last year (late spring or early summer if I recall) and have used it on a semi regular basis. It was originally granted a starting limit of only $2,000 (well under half of my Quicksilver), which, while annoying, was no big deal because I didn't really need any additional credit. Anyway, I follow most CapOne threads here and have yet to see anybody posting they've proactively reached out for a confirmation/update of income to be considered for a CLI.

I initially suspected the E-Mail was SPAM, so instead of clicking on the embedded links, I went directly to my CapOne account and sure enough, the same message popped up. I'll keep y'all posted of CapOne decides to hit me with an auto-CLI.

Re: CapitalOne Income Update Request

JoeRockhead — Thu, 19 Jan 2023 20:10:11 GMT

Interesting indeed, an auto CLI from them would be awesome, curious as to how this plays out.

Re: CapitalOne Income Update Request

OmarGB9 — Thu, 19 Jan 2023 20:57:57 GMT

I believe I got something like this back in 2016/2017 when I had my first QS (before I had financial troubles and had all my cards COd). I don't remember if I did get an auto-CLI or not after updating my income, but I guess my point is they do send these out every once in a while.

Re: CapitalOne Income Update Request

Horseshoez — Thu, 19 Jan 2023 21:10:25 GMT

@OmarGB9 wrote:
I believe I got something like this back in 2016/2017 when I had my first QS (before I had financial troubles and had all my cards COd). I don't remember if I did get an auto-CLI or not after updating my income, but I guess my point is they do send these out every once in a while.

I've been a CapOne customer for over two years now; this is the first time I've seen that request.

Re: CapitalOne Income Update Request

Anonymous — Thu, 19 Jan 2023 21:12:56 GMT

@Horseshoez wrote:
@OmarGB9 wrote:
I believe I got something like this back in 2016/2017 when I had my first QS (before I had financial troubles and had all my cards COd). I don't remember if I did get an auto-CLI or not after updating my income, but I guess my point is they do send these out every once in a while.
I've been a CapOne customer for over two years now; this is the first time I've seen that request.

All issuers are required to do it periodically, (a CARD Act responsibility). It is unrelated to CLI potential. Sorry.

Re: CapitalOne Income Update Request

coldfusion — Thu, 19 Jan 2023 21:21:29 GMT

@Anonymous wrote:
@Horseshoez wrote:
@OmarGB9 wrote:
I believe I got something like this back in 2016/2017 when I had my first QS (before I had financial troubles and had all my cards COd). I don't remember if I did get an auto-CLI or not after updating my income, but I guess my point is they do send these out every once in a while.
I've been a CapOne customer for over two years now; this is the first time I've seen that request.
All issuers are required to do it periodically, (a CARD Act responsibility). It is unrelated to CLI potential. Sorry.

Exactly.

They're required to ask. You aren't required to respond since there isn't a direct context where you'd be seen as applying for credit.

Re: CapitalOne Income Update Request

Anonymous — Thu, 19 Jan 2023 21:23:39 GMT

@Anonymous wrote:
@Horseshoez wrote:
@OmarGB9 wrote:
I believe I got something like this back in 2016/2017 when I had my first QS (before I had financial troubles and had all my cards COd). I don't remember if I did get an auto-CLI or not after updating my income, but I guess my point is they do send these out every once in a while.
I've been a CapOne customer for over two years now; this is the first time I've seen that request.
All issuers are required to do it periodically, (a CARD Act responsibility). It is unrelated to CLI potential. Sorry.

I should probably clarify that a bit! The REQUEST is unrelated to any "thinking" of the issuer "Oh, maybe we should give X a CLI, let's just confirm income" We frequently see posts here thinking it is.

Now if your updated income puts you in the issuers "meets CLI requirements" box, you could then get a CLI. But this is from the update, and might have happened had you done it without any request.

Re: CapitalOne Income Update Request

Horseshoez — Thu, 19 Jan 2023 21:31:05 GMT

@Anonymous and @coldfusion, so what y'all are saying is the language (outlined below) included in the message is effectively click bait?

We need updated info to consider you for a credit line increase.
Please take a moment to review your income info to be considered for a credit line increase.

Re: CapitalOne Income Update Request

Anonymous — Thu, 19 Jan 2023 21:58:09 GMT

@Horseshoez wrote:
@Anonymous and @coldfusion, so what y'all are saying is the language (outlined below) included in the message is effectively click bait?
We need updated info to consider you for a credit line increase.
Please take a moment to review your income info to be considered for a credit line increase.

Not really clickbait to the general population, maybe more so for MyFicoers!

The statement is more or less true. Issuers are required to ensure that there customers have sufficient financial means to meet the line they are extending. To support a CLI, they need updated income. But, as above, that doesn't mean they are considering one and just waiting on the income data!

Re: CapitalOne Income Update Request

FinStar — Fri, 20 Jan 2023 21:04:46 GMT

@Anonymous wrote:
@Horseshoez wrote:
@Anonymous and @coldfusion, so what y'all are saying is the language (outlined below) included in the message is effectively click bait?
We need updated info to consider you for a credit line increase.
Please take a moment to review your income info to be considered for a credit line increase.
Not really clickbait to the general population, maybe more so for MyFicoers!

The statement is more or less true. Issuers are required to ensure that there customers have sufficient financial means to meet the line they are extending. To support a CLI, they need updated income. But, as above, that doesn't mean they are considering one and just waiting on the income data!

Exactly.

The Capital One income prompt has been around for a while and it's been previously discussed. Keyword being 'considered' doesn't really translate into 'guaranteed CLI'. Absent of such income prompt (for many on here), auto-CLIs are still a thing if an account meets such eligibility criteria.

Plenty of issuers have very similar prompts (email or front end UI) such as WF, Chase, Fifth Third, Commerce Bank, BMO Harris, Citi, Union Bank, US Bank, SYNCB, etc.

Re: CapitalOne Income Update Request

Anonymous — Fri, 20 Jan 2023 22:34:17 GMT

Let us know if do get a cli. I haven't experience this with capital one but with chase I did.

Re: CapitalOne Income Update Request

Horseshoez — Thu, 09 Feb 2023 12:37:18 GMT

And the results are in:

Re: CapitalOne Income Update Request

Adkins — Thu, 09 Feb 2023 13:51:08 GMT

Congratulations!

Re: CapitalOne Income Update Request

nytokyobred79 — Thu, 09 Feb 2023 15:07:39 GMT

Awesome.

Re: CapitalOne Income Update Request

OmarGB9 — Thu, 09 Feb 2023 16:40:28 GMT

@Horseshoez wrote:
And the results are in:

That's so weird...I also just got an email saying they'd given me a $1.5k CLI. From $2.5k to $4k. 😳

BTW I was never asked to update income though.

Re: CapitalOne Income Update Request

Anonymous — Thu, 09 Feb 2023 17:01:17 GMT

@OmarGB9 wrote:
That's so weird...I also just got an email saying they'd given me a $1.5k CLI. From $2.5k to $4k. 😳

BTW I was never asked to update income though.

That's a good DP, otherwise the experience would be "proof" that the request to update income is a sure sign!

Re: CapitalOne Income Update Request

TRC_WA — Thu, 09 Feb 2023 17:18:25 GMT

@Horseshoez @OmarGB9

Congrats.

I burned them in my Ch 13 and just got back in the door 6 years later with a $500 QS but I went ahead and updated my annual income so hopefully Cap One will hit me with a CLI in a few months.

Re: CapitalOne Income Update Request

Remedios — Thu, 09 Feb 2023 17:19:57 GMT

That's kinda what happened to me about two months ago, $3000.00 CLI on a card that hasn't seen use in two years

I found out about it via EX monitoring, card is locked, i haven't updated income since 2017.

Re: CapitalOne Income Update Request

OmarGB9 — Thu, 09 Feb 2023 17:21:37 GMT

What's interesting in my case though is that I DID try for a CLI last month, as the 6 month wait between CLI requests had elapsed for me, and they only offered me a measly $500. I turned it down. But I've been using the card some, (nothing crazy, just a few hundred bucks or so) and all of a sudden I got this auto CLI for $1.5k. 🤔

Re: CapitalOne Income Update Request

OmarGB9 — Thu, 09 Feb 2023 17:24:59 GMT

@Remedios wrote:
That's kinda what happened to me about two months ago, $3000.00 CLI on a card that hasn't seen use in two years
I found out about it via EX monitoring, card is locked, i haven't updated income since 2017.

@Remedios Two years and they haven't shut it down?! Incredible. 😯 Equally incredible is a $3k CLI on a card that's keeping your US Socks socks company. 😂