Your monthly income needs to be at least $425 more than your monthly rent or mortgage payment to get the Capital One SavorOne Cash Rewards Credit Card, according to Capital One. The higher your income is above the minimum, the more likely you are to be approved. Your income will also play a big part in determining your credit limit, with higher incomes generally leading to higher limits.
Keep in mind that the income you list on a credit card application doesn’t necessarily have to come from a job. Capital One will also consider things like Social Security benefits, unemployment insurance, alimony payments, pension distributions, investment returns and more.
In addition, if you are at least 21 years old, you may include household income on your application. If you are 18-20 years old, you may only include your own income.
This answer was last updated on 01/15/24 and it was first published on 08/25/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
