By Sandra Parsons
When you apply for a credit card, the card issuer collects personal information, including your income. It’s one of the factors they consider when deciding whether to approve or decline your application. If they do approve you, your income, along with your current debt load and credit score, helps them decide how high of a limit to assign you. Most people know this and expect to divulge their income when applying for a new card. You can check your credit score and read your credit report for free within minutes by joining MoneyTips.
But has your credit card issuer ever asked about your income after your card is approved and active? For many cardholders, this is murkier territory. Here’s what you need to know about updating your income with your cre…