[Carolyn]

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.

Thanks

[Caleb]

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

[Sarah]

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.

[Lynne]

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

[Sarah]

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.

[Frank]

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

[Stacy]

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.

[Leo James]

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

[Author]

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