Should You Give Income Updates to Your Credit Card Issuer?

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  • #80865 Reply

      My credit cards regularly ask my to update my income, when I log into my accounts. And I regularly ignore them.  Should I update it?  What do you think? 

      The current income listed is alot lower, but I feel like it’s tmi … & I don’t want to update.


      #80866 Reply

        If it’s higher, update, if you’re income is down ignore.

        #80867 Reply

          It’s a federal requirement that credit card issuers ask this question to cardholders. You can ignore it or answer. As others have said, a higher income can make you eligible for a credit line increase.

          #80868 Reply

            I know Amex requires it. They call them financial reviews.
            I’ve never been made to other than them.

            #80869 Reply

              I update anytime I’m making more money. It often leads to limit increases, which helps offset the DTI ratio of my balance. (Just make sure you’re managing that balance appropriately, otherwise it can get out of hand.)
              Also, when they raise my limit without my asking, it doesn’t involve a credit pull.

              #80870 Reply

                Nah don’t tell them. It’s on a need to know basis and they don’t need to know.

                #80871 Reply

                  I’m pretty sure its just for automatic credit line increases. I’m sure they sell that info but as far as their purposes I think that’s it. So if that doesn’t matter don’t give it. You can apply when wanted.

                  #80872 Reply
                  Leo James

                    Personally, I give everything as little information as possible, they don’t need to know and it’s arguably a security risk.

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