Ebates & Stash Hotel Visa frozen

[longtimelurker]

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@Anonymous wrote:

Just curious, why do a lot of people seem to have strong feelings against sharing the 4506-T?

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Usually cited are privacy issues.   Your tax form contains a lot of info (although a lot of it may be obtainable through other means) including, if you file jointly, spouse income even though he/she may not even be on the account.

Part of it is because it isn't seen as "usual".   I assume relatively few people refuse to provide tax docs for a mortgage (or pay a higher rate for no documentation loans) because people understand that is the way it is, so shopping around isn't going to produce different results.   Also, the amounts are usually much higher, so while I may be willing to sacrifice some privacy for a $500K loan, doing it for a $10K cc seems less acceptable.

And lastly people can argue it isn't always a good indication of finances:  It's always a few months old (IRS usually won't give last years transcript till August,  so if you ask now it might be your 2014 return)

But it comes down to: how much do you want the CLI/card vs not wanting to share tax info

[Anonymous]

I think it's important for those on the board not to panic about Synchrony, because they have proven time and again to be a reliable lender who has helped many of us. This seems to be an isolated situation, as I've not seen a 4506-t request from Synchrony reported by anyone else.

The OP has had 2 separate 4506-t requests from Synchrony and has recently had all 6 of his Chase cards closed by lender. Perhaps Synchrony saw that and was concerned.

[Anonymous]

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@Anonymous wrote:

I think it's important for those on the board not to panic about Synchrony, because they have proven time and again to be a reliable lender who has helped many of us. This seems to be an isolated situation, as I've not seen a 4506-t request from Synchrony reported by anyone else.

The OP has had 2 separate 4506-t requests from Synchrony and has recently had all 6 of his Chase cards closed by lender. Perhaps Synchrony saw that and was concerned.

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Exactly.  I'm willing to bet that they have more concerns than just the OP's existing limits with them.  When AA starts happening among multiple creditors it's time to put on the brakes and reassess credit strategies like requesting CLIs, combining limits or any other action that is going to make a creditor take a look at your account with them and other creditors.

[baller4life]

Lay low OP....REAL low!

[Anonymous]

Can this kind of thing happen from acquiring too much credit too fast?  Or is there something else going on.

[securingourfuture]

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WaveRider wrote:

Can this kind of thing happen from acquiring too much credit too fast?  Or is there something else going on.

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I'm not sure if that's the only reason.  Last year, I acquired about 22 cards in a 7-month period, probably about 10 in a week at one point, and nothing came of it.  But I started with like 3 cards, so I don't know if it comes down to new cards or total cards plus the new cards.  I've since pruned the duds.

[Anonymous]

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@baller4life wrote:

Lay low OP....REAL low!

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I am 100% with baller on this!

[Anonymous]

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@Anonymous wrote:

Exactly.  I'm willing to bet that they have more concerns than just the OP's existing limits with them.  When AA starts happening among multiple creditors it's time to put on the brakes and reassess credit strategies like requesting CLIs, combining limits or any other action that is going to make a creditor take a look at your account with them and other creditors.

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 Really, combining limits is considered risky and will make other creditors take notice?  I asked about this in another thread and didn't get that information.  Now I think I better hold off on my plans.

[UncleB]

Just to 'chime in' on the tax transcript, keep in mind any lender you give it to will also get your spouse's social security number and income information, as well as your children's social security numbers (if you have any).  If you deduct your medical expenses, they'll see that as well.  These are just the 'biggies' for me...

For the record, any lender has the 'right' to ask for this, and we have the 'right' to refuse.  Personally I see requesting a tax transcript as extremely invasive... I wouldn't even give it to Amex.  If I had a spouse, I would strongly protest my personal information being provided to a lender I had no business with. 

That's just my opinion, though... I realize it's not right for everybody. 

[Creditplz]

Yeah I'll just give it to them again, DW has no issue with this.. I'll also send them a letter with the return 4506-T telling them not to ask for it again since its been the second time that I've provided them with it :l