3x CLI Experience 4 Those W/ Initial CL of $8500 or More?

[09Lexie]

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@longtimelurker wrote:

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@09Lexie wrote:

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@fungoman wrote:
25k does not mean 4506t. 10k starting requested 30k and instant approval.

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^^exactly!  Amex can and will ask for a 4506 anytime your reported income/assets need to be verified. 

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Right, but the point of the question, I assume, is to try to determine some rules when it "needs to be verified"!

So my recent history which obviously isn't following ask for 3x!

$25K, requested $35K (I think), 4506-T.  Got 28K with reasons account too new and CL not being used

$28K -> $34K  immediate approval

$42K (after moving limits), requested $50K, 4506-T, approved for $50K

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Understand the OPs point .  Asking for data points on the 3 x $8500 CLI, I believe was in regards to the belief it will generate 4506 T.  

Income doc requests are not limited to $25k. 

Edit: to get a more detailed response questions like util, reported income, age of cc's with Amex etc. 

[changingmantra2]

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@longtimelurker wrote:

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@09Lexie wrote:

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@fungoman wrote:
25k does not mean 4506t. 10k starting requested 30k and instant approval.

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^^exactly!  Amex can and will ask for a 4506 anytime your reported income/assets need to be verified. 

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Right, but the point of the question, I assume, is to try to determine some rules when it "needs to be verified"!

So my recent history which obviously isn't following ask for 3x!

$25K, requested $35K (I think), 4506-T.  Got 28K with reasons account too new and CL not being used

$28K -> $34K  immediate approval

$42K (after moving limits), requested $50K, 4506-T, approved for $50K

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Thanks Longtimelurker -

[takeshi74]

My 4506-T didn't result from a 3x request on $8,500 or more.  I had $31.9K total CL on 2 cards.  Requested $20K on the $6.9K card (not quite 3x but close) which would have taken me from $31.9K total to $45K total.  Got 7-10 days which led to the 4506-T.  Turned it in and was countered with $19K.  If your income is close to what's on the appropriate tax transcript then the 4506-T is no big deal.

However, keep in mind that a prior year's tax transcript can't be used until after August of the following year.  In other words, if you had a significant income increase reported on your 2013 return it won't be considered until after August 2014.  The 4506-T instructions from AmEx (follow them carefully or risk rejection!) state this but they don't explain why that's the case.

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@changingmantra2 wrote:

What other factors do you think contributed to outcome?

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One's credit always matters though saying what specific factors played a role in the approval is difficult as always.

[longtimelurker]

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@takeshi74 wrote:

In other words, if you had a significant income increase reported on your 2013 return it won't be considered until after August 2014.  The 4506-T instructions from AmEx (follow them carefully or risk rejection!) state this but they don't explain why that's the case.

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The letter says that they can't get them from the IRS prior to that, so it doesn't sound like an Amex decision.