Update Income Request - Capital One (2024)

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

Rebuild Started Nov 2021
June 2022 FICO 8:
June 2022 FICO 9:
April 2024 FICO 8:
April 2024 FICO 9:

• Other
• Travel cards

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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).

I categorically refuse to do AZEO!

@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.

Rebuild Started Nov 2021
June 2022 FICO 8:
June 2022 FICO 9:
April 2024 FICO 8:
April 2024 FICO 9:

@Zoostation1wrote:

@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".

I categorically refuse to do AZEO!

Keep in mind that you're being asked to update your income because the government requires them to ask you to update your income on a regular basis. The phrasing that it may lead to a CLI is correct but you aren't being asked because they think you're in line to get one or that if you respond it means you'll get one, and since you weren't being asked in response to a CLI request you made you aren't obligated to respond to these requests.

@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.

Rebuild Started Nov 2021
June 2022 FICO 8:
June 2022 FICO 9:
April 2024 FICO 8:
April 2024 FICO 9:

@Zoostation1wrote:

@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.

I think you already recognize this but am affirming that you aren't screwing yourself over by waiting until you have a verifiable change in income before fulfilling such a request.

I disregarded that update your income request. I have a cap one savor card and they gave me a CLi without me asking for one

Chase (CSP,CF,CFU,southwest premier)
Barclay(jetblue, arrival)
Bofa(US pride, premium, travel, cash, Suzy komen)
Citi(Premier, Double cash, Costco)
Fnbo(Mlife)
Amex(everyday, cash, Hilton)
Blockfi
Caesars rewards
Sofi
Gemini
Cap One Savor One

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@Zoostation1wrote:

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,
goit
CapitalOne 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.

I read this post, updated my income, requested credit limit increase, my limit increased from $500 to $600 on my Savor One, have 4 cards with them. I use Walmart Rewards Mastercard on a monthly basis for home delivery order. Capital One is my worst financial lender.

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