So today I had an email from C1 asking me to update my income for to be considered for a CLI on my VX and initially I wasn't sure if it was legit or not. I've had the VX 7 months, but in the 2 yrs I've been dealing with capital one after starting my rebuild I've not received a similar email, not have I been asked to update income without actively requesting a CLI. So I call in via the number on the back of my card, thinking it may be a phishing email only to get the same question on the automated system immediately after entering the last 4 of my card. I spoke with a representative, but did not update my income yet. Is there any harm regarding any future CLIs by not updating immediately? My employer hasn't disclosed the details of our merit increases yet, but since they go itno effect March 1st I'll be able to update income within the next 2 weeks. I also have no idea if this matters, but got the email shortly after having my highest posted balance on the card (not my highest statement balance) FWIW this is what the main part of the email looked like minus the personal info.
We need updated info to consider you for a credit line increase
Insert name here,
Capital One confirms your income and employment information on a regular basis to make sure we’re serving your specific credit needs.
Please review the income and employment information on your account ending in XXXX, and confirm or update it as needed.
it's a completely optional request
I've also seen some recent DPs of updating income resulting in a IV (bank statements or tax forms) when you go for a CLI, or new app, not always, but it can happen
if you want the best chance at the highest CLIs with Cap1 on your cards, I'd update when you're ready to submit IV in the rare chance that happens, otherwise no need to respond
I got that same request last year on my SavorOne card; I complied and did NOT get a CLI, however, I DID get a worthless (to me at least) interest rate reduction of about 3% (don't remember exactly).
@GZGI'll never be "ready" to submit IV. It's not to say that I won't do it period, but given how modest I'm expecting my increase to be, I'll be more than pissed off if they ask for that.
@Zoostation1 wrote:@GZGI'll never be "ready" to submit IV. It's not to say that I won't do it period, but given how modest I'm expecting my increase to be, I'll be more than pissed off if they ask for that.
What I find ironic is how differently CapOne treats folks who are doing well financially. In 2020, after my Chapter 13 discharge with credit scores in the low- to mid-600s, CapOne approved me for a $3,000 Quicksilver, and then auto-CLIed that card up to $6,300. In 2022, after A) my chapter 13 fell off my records and my FICO scores shot up into the 800s and B) a job change nearly doubled my income (which was already decent), they sent me a preapproval for a SavorOne card and only granted me a $2,000 starting limit, a limit which they have refused to increase in spite of the fact I have a six-figure chunk of "down payment" savings sitting in a CapOne savings account. If I was the only one around here who noticed this disparity I'd be upset, however, having read accounts such as mine on numerous occasions, the only logical explanation is, "Because Capital One".
@coldfusionYeah, I know they're required to ask. I just wanted to make sure I wasn't screwing myself by waiting till I actually have new $$ to update it with since I hadn't seen the email request on my other Capital One cards. I'm not expecting any CLI , but I am planning to try for one once I do have that info updated.
