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Appreciate that clarification longtime, makes sense. I opened Barclays and started hearing the horror stories, yet everything has been great on those two cards. I guess with credit limits like that (didnt see that before) they have reason to need a little "proof". Thanks again and my want for an AMEX continues on ha ha.
Any discussion forum on any topic presents a skewed perspective since people post when they have problems. Additionally, as pointed out above, the AmEx fears -- especially of FR --- are way overblown. FR's do happen but people seem think that any little thing will set one off and that's just not the case. I don't tiptoe with my AmEx cards. I just use them. AmEx hasn't been a pain in my experience and they've given me some very good CLI's in the time that I've had my new cards open with them. In less than a year I've gone from $12.5K total to $44K total. I've carried balances with them but I've kept utilization at 30% or less when doing so on promotional offers (all expired now so it's all PIF) and haven't had any issues so far. Be careful making assessments relying on posts about AmEx FR paranoia i.e. consider the source -- is it a person who actually went through an FR or is it just a person afraid of FR without knowing what actually triggers one?
The 3x CLI thread indicates that 4506-T's for income verification seem to be common for CL requests of $25K or higher. I was able to get to $25K one on card and above $25K total CL without income verification but when I attempted to go to $45K total they wanted a 4506-T and eventually responded with the counteroffer that took me to $44K. It was really no big deal IMO but there are certainly those that feel that tax transcripts are too invasive. That's a call that each needs to make for his/her self.
@takeshi74 wrote:Any discussion forum on any topic presents a skewed perspective since people post when they have problems. Additionally, as pointed out above, the AmEx fears -- especially of FR --- are way overblown. FR's do happen but people seem think that any little thing will set one off and that's just not the case. I don't tiptoe with my AmEx cards. I just use them. AmEx hasn't been a pain in my experience and they've given me some very good CLI's in the time that I've had my new cards open with them. In less than a year I've gone from $12.5K total to $44K total. I've carried balances with them but I've kept utilization at 30% or less when doing so on promotional offers (all expired now so it's all PIF) and haven't had any issues so far. Be careful making assessments relying on posts about AmEx FR paranoia i.e. consider the source -- is it a person who actually went through an FR or is it just a person afraid of FR without knowing what actually triggers one?
The 3x CLI thread indicates that 4506-T's for income verification seem to be common for CL requests of $25K or higher. I was able to get to $25K one on card and above $25K total CL without income verification but when I attempted to go to $45K total they wanted a 4506-T and eventually responded with the counteroffer that took me to $44K. It was really no big deal IMO but there are certainly those that feel that tax transcripts are too invasive. That's a call that each needs to make for his/her self.
+1
To OP
Which tax year did they ask for 2012 or 2013 since we just filed 2013 a few weeks ago?
@Scuba wrote:To OP
Which tax year did they ask for 2012 or 2013 since we just filed 2013 a few weeks ago?
They wanted the last two available years, 2012 and 2011. In the instructions they say that last years returns (i.e. 2013) aren't available to them until August.
Is it always 2 years of returns?
@Revelate wrote:Strange; have been a lot of news reports of fraudulent tax returns and similar over the last two years, but I didn't have any issues getting my own tax transcripts from the IRS when I was cleaning things up late last year, and it's not like anyone's signature is more than the written equivalent of gobbledygook anyway these days.
I heard this too... apparently Indiana has a new program requiring security questions (like when you get your annual credit report) before sending your tax refund (if you're in the 1-3% chosen as of possible concern, i.e. address matches, missing/mismatched docs).
Completely understand the privacy concerns, and the coverage/security concerns on the other side. All comes down to how badly do you want the Amex card or increases.
@Scuba wrote:Is it always 2 years of returns?
It has been both times for me (not a huge sample!). The form itself has space for up to four years. But I think Amex wants two, which makes things like an unusually high bonus one year have less weight.
Still waiting, but then they only told me the form was fine on Friday, so probably two or more weeks to go.
@longtimelurker wrote:
@Scuba wrote:Is it always 2 years of returns?
It has been both times for me (not a huge sample!). The form itself has space for up to four years. But I think Amex wants two, which makes things like an unusually high bonus one year have less weight.
Still waiting, but then they only told me the form was fine on Friday, so probably two or more weeks to go.
2 years prior tax returns are the industry standard for income verification for self-employed... or for others claiming income outside of the standard W2 paycheck so I would assume it's the same for everyone typically.