CapitalOne Income Update Request

[Horseshoez]

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.

[JoeRockhead]

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

[OmarGB9]

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. 

[Horseshoez]

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@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. 

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

[Anonymous]

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@Horseshoez wrote:

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@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. 

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

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

[coldfusion]

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@Anonymous wrote:

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@Horseshoez wrote:

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@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. 

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

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

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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. 

[Anonymous]

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@Anonymous wrote:

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@Horseshoez wrote:

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@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. 

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

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

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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.

[Horseshoez]

@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.

[Anonymous]

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@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.

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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!

[FinStar]

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@Anonymous wrote:

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@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.

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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!

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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.