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@Revelate wrote:
@Fico2Go wrote:Is there anything in relation to CCs hat has conclusive proof?
There's nothing in this business or game that is 100% true or proven. We are not even sure if approvals are based on FICO scores, internal scores, or other factors. What we do know is that OP didn't get approved for $1000 follow by FR. She was approved for $20K.
And what we also know is that she had a $500 TL on CR.
We can slice the presumptions anyway we want but I would bend towards available credit line in relation to sought credit line as the cause for FR.
I've been wrong often and I'm not afraid to be learn here.
And yet we have tremendous numbers of Amex members who still have $500 cards on their report.
Am sorry, this just doesn't wash anecdotally either from what we know about Amex or their FR policies. The $500 secured cards were completely incidental in my opinion. A request for a tax transcript is an income verification device, nothing more, nothing less. I would encourage anyone to not read more into it than that.
ETA: business cards sometimes may be addressed differently, it's not necessarily unreasonable to want to check to see if you actually qualify as well in addition to the income verification as a tax transcript documents income from all sources reported to the IRS including various 1099 forms.
+1
OP you should be fine after doc's are reviewed
@newdaddy113 wrote:why would they give me such a huge limit in the first place? The issue is that I put my current salary of 70k but the last 2012 tax they requested I made more cause then I worked 2 jobs. IRS income in 2012 was 115k as opposed to my current salary of 70k. I feel very uneasy about all this. I have faxed them the 4506 document they needed. Fingers crossed
because they think you deserve it. They are not finding faults with you or trying to pick on you right now; just doing due diligence to make sure everything checks like it should be. Lenders do income verification from time to time. it just so happens that you got picked.
since you do make more on tax docs than what you claimed, chances are this FR will end well in your favor. For all you know they might even give you a higher CL! Who knows?
Don't worry about it really. It's not a big deal most of the time minus the inconvenience that accounts had to be suspended while FR is ongoing.
@myjourney wrote:
@Revelate wrote:
@Fico2Go wrote:Is there anything in relation to CCs hat has conclusive proof?
There's nothing in this business or game that is 100% true or proven. We are not even sure if approvals are based on FICO scores, internal scores, or other factors. What we do know is that OP didn't get approved for $1000 follow by FR. She was approved for $20K.
And what we also know is that she had a $500 TL on CR.
We can slice the presumptions anyway we want but I would bend towards available credit line in relation to sought credit line as the cause for FR.
I've been wrong often and I'm not afraid to be learn here.
And yet we have tremendous numbers of Amex members who still have $500 cards on their report.
Am sorry, this just doesn't wash anecdotally either from what we know about Amex or their FR policies. The $500 secured cards were completely incidental in my opinion. A request for a tax transcript is an income verification device, nothing more, nothing less. I would encourage anyone to not read more into it than that.
ETA: business cards sometimes may be addressed differently, it's not necessarily unreasonable to want to check to see if you actually qualify as well in addition to the income verification as a tax transcript documents income from all sources reported to the IRS including various 1099 forms.
+1
OP you should be fine after doc's are reviewed
+2
And what enharu mentioned in the above post.
I would not worry about. I think you will be fine.
I'm kind of afraid now because me being a college student, I may make 5-30k a year depending on internship. What if they want a FR from me and my income is different every year?
@CredittotheMax wrote:I'm kind of afraid now because me being a college student, I may make 5-30k a year depending on internship. What if they want a FR from me and my income is different every year?
Don't fear the FR.
If you are 100% honest w/ your application w/ your current income, then you have absoultely nothing to worry about.
People's income changes yearly, if not sooner..
@newdaddy113 wrote:The issue is that I put my current salary of 70k but the last 2012 tax they requested I made more cause then I worked 2 jobs. IRS income in 2012 was 115k as opposed to my current salary of 70k. I feel very uneasy about all this. I have faxed them the 4506 document they needed. Fingers crossed
As others have said that's not an issue. It would be an issue if it was the other way around and your income on your tax documents was siginificantly lower than what you indicated on your application.
Plenty of things but none relevant to this thread.
@Fico2Go wrote:Is there anything in relation to CCs hat has conclusive proof?
@takeshi74 wrote:
@newdaddy113 wrote:The issue is that I put my current salary of 70k but the last 2012 tax they requested I made more cause then I worked 2 jobs. IRS income in 2012 was 115k as opposed to my current salary of 70k. I feel very uneasy about all this. I have faxed them the 4506 document they needed. Fingers crossed
As others have said that's not an issue. It would be an issue if it was the other way around and your income on your tax documents was siginificantly lower than what you indicated on your application.
Plenty of things but none relevant to this thread.
@Fico2Go wrote:Is there anything in relation to CCs hat has conclusive proof?
+1
@Repo-ed wrote:
@CredittotheMax wrote:I'm kind of afraid now because me being a college student, I may make 5-30k a year depending on internship. What if they want a FR from me and my income is different every year?
Don't fear the FR.
If you are 100% honest w/ your application w/ your current income, then you have absoultely nothing to worry about.
People's income changes yearly, if not sooner..
Exactly. As long as everything matches up or you can provide supporting evidence of such (in the event that AMEX ever requests it), then nothing to worry about.