topic Re: Discover $7k CLI --> Then 4506-C in Credit Card Approvals

Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 03:09:28 GMT

The last time Discover granted me a CLI was in March 2020, which took me from $19k to $21.5k.. After that, they denied my requests more than 15 times

A couple of Sundays ago, I went for it again just for S&G expecting another denial. Surprisingly, they offered a $7k CLI. That put me at $28.5k. YAY!

But then, the very next day, I get a voicemail from Discover, which I thought was a scam because it was an automated voice message that sounded very fishy, so I ignored it. A little later, I get an email from 'echosign' saying that Discover wanted to verify some info through Equifax. Now it's getting weirder.

I ended up calling Discover to make sure someone wasn't trying to take me for an idiot. They confirmed that my account was frozen pending verification from the IRS, and they wanted my consent to get tax information. UGH!

I've had my Discover card for 6+ years and they finally decided not to believe my income information.

I told the rep that I'd think about it or might call back to close the account.

Anyway, I said f*** it and filled out the 4506-C form. Barclays also got me earlier in the year for a business card, so what's another IRS inquiry at this point...

It took them almost two weeks, but finally got an email today saying all is well and the hold was lifted so I can start using my card again.

I can't wait to get a survey

Re: Discover $7k CLI --> Then 4506-C

simplynoir — Fri, 03 Sep 2021 03:15:18 GMT

Disco doesn't play around I see 😂

I don't know if I would have done that for them unless I was using the card heavily like BofA or Socks

Congrats on the increase regardless!

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 03:24:37 GMT

@simplynoir wrote:
Disco doesn't play around I see 😂
I don't know if I would have done that for them unless I was using the card heavily like BofA or Socks

Congrats on the increase regardless!

Haha. Thanks man!... I wouldn't be surprised if USB requests an IRS verification too. That poor AR takes a beating every month, constantly cycling and over the limit, and it keeps going!

But in all seriousness, if they're going to ask for tax returns, Disco could've sent a human to reach out and not a freaking robot!

Re: Discover $7k CLI --> Then 4506-C

CreditAggie — Fri, 03 Sep 2021 03:32:47 GMT

Congratulations on your Discover CLI!

Re: Discover $7k CLI --> Then 4506-C

simplynoir — Fri, 03 Sep 2021 03:33:14 GMT

@imaximous wrote:
@simplynoir wrote:
Disco doesn't play around I see 😂
I don't know if I would have done that for them unless I was using the card heavily like BofA or Socks

Congrats on the increase regardless!
Haha. Thanks man!... I wouldn't be surprised if USB requests an IRS verification too. That poor AR takes a beating every month, constantly cycling and over the limit, and it keeps going!

But in all seriousness, if they're going to ask for tax returns, Disco could've sent a human to reach out and not a freaking robot!

Yeah, that was very sus of them. It would have not been a good feeling if you had attempted to use the card and found out it was locked pending a review. Reminds me of a friend who got a questionable email that honestly looked like spam when I saw it from a business that upon calling them was actually legitimate. There's something to be said for the human touch on things like that but automation is cheap

Speaking of Socks the wife finally got her own AR so I don't have to separate purchase anymore. We know have two BofA PR and Socks AR cards to completely keep them apart now for personal/business expenses. If they want my tax returns I'd deliver them personally at this point lol

Re: Discover $7k CLI --> Then 4506-C

Taurus22 — Fri, 03 Sep 2021 03:58:53 GMT

What a nasty process. Glad everything worked out for you though. Congrats on a really solid CLI!

Might wanna lay off that Luv button for a while though....

Re: Discover $7k CLI --> Then 4506-C

cashorcharge — Fri, 03 Sep 2021 04:09:37 GMT

First off....congrats on getting the CLI approved.

What I find more astonishing is that the IRS actually received and replied to their request which then freed up your account in 2 weeks. Who knew the IRS was that quick? I certainly didn't....

Re: Discover $7k CLI --> Then 4506-C

Anonymous — Fri, 03 Sep 2021 04:12:19 GMT

@imaximous wrote:
The last time Discover granted me a CLI was in March 2020, which took me from $19k to $21.5k.. After that, they denied my requests more than 15 times
A couple of Sundays ago, I went for it again just for S&G expecting another denial. Surprisingly, they offered a $7k CLI. That put me at $28.5k. YAY!
But then, the very next day, I get a voicemail from Discover, which I thought was a scam because it was an automated voice message that sounded very fishy, so I ignored it. A little later, I get an email from 'echosign' saying that Discover wanted to verify some info through Equifax. Now it's getting weirder.
I ended up calling Discover to make sure someone wasn't trying to take me for an idiot. They confirmed that my account was frozen pending verification from the IRS, and they wanted my consent to get tax information. UGH!
I've had my Discover card for 6+ years and they finally decided not to believe my income information.
I told the rep that I'd think about it or might call back to close the account.

Anyway, I said f*** it and filled out the 4506-C form. Barclays also got me earlier in the year for a business card, so what's another IRS inquiry at this point...
It took them almost two weeks, but finally got an email today saying all is well and the hold was lifted so I can start using my card again.
I can't wait to get a survey

Having a discover card is very risky now-a-days to those who couldn't prove their income for credit limit that have...Too many people are now being asked for tax return request (4506-C). One never knows when Discover could ask for this form. Its extremely scary if income couldn't be verified.

Were you asked for the same tax return request (4506-T) for Barclay's business card??

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 04:23:28 GMT

@simplynoir wrote:

Yeah, that was very sus of them. It would have not been a good feeling if you had attempted to use the card and found out it was locked pending a review. Reminds me of a friend who got a questionable email that honestly looked like spam when I saw it from a business that upon calling them was actually legitimate. There's something to be said for the human touch on things like that but automation is cheap

Actually, I found out my account was frozen because it got declined doing my usual breakfast run. At first, I didn't think much of it, so I used a different card after it declined twice for barely $10. Then, I remembered the fishy robocall I got. I saw the email later when I got to my office. That's when I got kinda pissed and called them, lol.

@simplynoir wrote:

Speaking of Socks the wife finally got her own AR so I don't have to separate purchase anymore. We know have two BofA PR and Socks AR cards to completely keep them apart now for personal/business expenses. If they want my tax returns I'd deliver them personally at this point lol

With BoA, I don't think I'll have a problem. They see my personal and business deposits. But sometimes I do worry about USB because my stated income wouldn't even be able to cover 2 months of charges on the AR

BTW, how do you burn your AR points? I'm very tempted to just cash them out because I can't use them fast enough at 1.5x. I've bought tickets and other travel expenses that I normally wouldn't just to use my points. It kinda hurts to cash at 1:1, but I'll get to 5MM in no time and don't know how to spend them anymore.

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 04:26:40 GMT

@Taurus22 wrote:
What a nasty process. Glad everything worked out for you though. Congrats on a really solid CLI!

Might wanna lay off that Luv button for a while though....

Thanks!... HA! now that they got my tax returns, I'm gonna hit them every other day

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 04:31:38 GMT

@cashorcharge wrote:
First off....congrats on getting the CLI approved.
What I find more astonishing is that the IRS actually received and replied to their request which then freed up your account in 2 weeks. Who knew the IRS was that quick? I certainly didn't....

Rep claimed it was taking over a month to get those forms back before because of COVID, and that the process was much faster now. I still think that freezing your card for the entire review period is poor business practice. They should give you limited access maybe.

I don't know why it takes that long anyway. If you request your own transcripts from the IRS, you get them right away.

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 04:40:04 GMT

@Anonymous wrote:
@imaximous wrote:
The last time Discover granted me a CLI was in March 2020, which took me from $19k to $21.5k.. After that, they denied my requests more than 15 times
A couple of Sundays ago, I went for it again just for S&G expecting another denial. Surprisingly, they offered a $7k CLI. That put me at $28.5k. YAY!
But then, the very next day, I get a voicemail from Discover, which I thought was a scam because it was an automated voice message that sounded very fishy, so I ignored it. A little later, I get an email from 'echosign' saying that Discover wanted to verify some info through Equifax. Now it's getting weirder.
I ended up calling Discover to make sure someone wasn't trying to take me for an idiot. They confirmed that my account was frozen pending verification from the IRS, and they wanted my consent to get tax information. UGH!
I've had my Discover card for 6+ years and they finally decided not to believe my income information.
I told the rep that I'd think about it or might call back to close the account.

Anyway, I said f*** it and filled out the 4506-C form. Barclays also got me earlier in the year for a business card, so what's another IRS inquiry at this point...
It took them almost two weeks, but finally got an email today saying all is well and the hold was lifted so I can start using my card again.
I can't wait to get a survey

Having a discover card is very risky now-a-days to those who couldn't prove their income for credit limit that have...Too many people are now being asked for tax return request (4506-C). One never knows when Discover could ask for this form. Its extremely scary if income couldn't be verified.

Were you asked for the same tax return request (4506-T) for Barclay's business card??

Yup. Barclays asked for 4506-T at the time. Now that form has been replaced with 4506-C for whatever reason. Barclays situation was even worse because they were only approving me for $1k. That was extremely annoying and I almost didn't do it, but I really wanted the card and SUB. They said I already had enough credit, so I ended up moving limits from another card. But still hit me with the IRS form.

Re: Discover $7k CLI --> Then 4506-C

simplynoir — Fri, 03 Sep 2021 04:42:17 GMT

@imaximous wrote:
@simplynoir wrote:

Yeah, that was very sus of them. It would have not been a good feeling if you had attempted to use the card and found out it was locked pending a review. Reminds me of a friend who got a questionable email that honestly looked like spam when I saw it from a business that upon calling them was actually legitimate. There's something to be said for the human touch on things like that but automation is cheap
Actually, I found out my account was frozen because it got declined doing my usual breakfast run. At first, I didn't think much of it, so I used a different card after it declined twice for barely $10. Then, I remembered the fishy robocall I got. I saw the email later when I got to my office. That's when I got kinda pissed and called them, lol.

@simplynoir wrote:

Speaking of Socks the wife finally got her own AR so I don't have to separate purchase anymore. We know have two BofA PR and Socks AR cards to completely keep them apart now for personal/business expenses. If they want my tax returns I'd deliver them personally at this point lol
With BoA, I don't think I'll have a problem. They see my personal and business deposits. But sometimes I do worry about USB because my stated income wouldn't even be able to cover 2 months of charges on the AR
BTW, how do you burn your AR points? I'm very tempted to just cash them out because I can't use them fast enough at 1.5x. I've bought tickets and other travel expenses that I normally wouldn't just to use my points. It kinda hurts to cash at 1:1, but I'll get to 5MM in no time and don't know how to spend them anymore.

BofA is our main business checking account along with Chase so I don't ever see problems with them as well especially since they asked me awhile back what the hell I was doing with all the spending. I told them and haven't had an issue since but did ask for that CLI to be safe in the end. AMEX is our other bank and they already got a 4506 from me when I got the CLI on my back-then SPG card so I better not get flack from them as well

For your points glut this is the issue me and wife had when we had everything put on the business Plat card with AMEX for awhile. We had so many MR points coming in and even with travel redemptions they were adding up. Why we finally decided to cash out with Schwab even if we can can get better redemptions with travel and necessitated shifting spend to BofA PR and Socks AR that we do now. We used some of it for hazard pay for our employees due to pandemic and rest we keep for ourselves. For AR points me and the wife use them whenever we travel for leisure. For instance when we go to Austin we usually stay at the Four Seasons so that takes a good chunk out since she doesn't believe in going cheap lol. It doesn't get rid of all of them but helps lessen the pot

So if you feel cashing out is best do it since we have. At 3% earning rate that's nothing to sneeze at. You can always invest the money in other opportunities like the market, properties, other business ventures, etc to help you earn more than if you just have the points sitting there unused. It's like keeping money in a savings account: you can do more with it doing other stuff if you're already covered

Re: Discover $7k CLI --> Then 4506-C

Total80sKid — Fri, 03 Sep 2021 05:18:30 GMT

Congrats on your Disco CLI 👍🏼

Re: Discover $7k CLI --> Then 4506-C

AverageJoesCredit — Fri, 03 Sep 2021 11:31:49 GMT

@imaximous wrote:
The last time Discover granted me a CLI was in March 2020, which took me from $19k to $21.5k.. After that, they denied my requests more than 15 times
A couple of Sundays ago, I went for it again just for S&G expecting another denial. Surprisingly, they offered a $7k CLI. That put me at $28.5k. YAY!
But then, the very next day, I get a voicemail from Discover, which I thought was a scam because it was an automated voice message that sounded very fishy, so I ignored it. A little later, I get an email from 'echosign' saying that Discover wanted to verify some info through Equifax. Now it's getting weirder.
I ended up calling Discover to make sure someone wasn't trying to take me for an idiot. They confirmed that my account was frozen pending verification from the IRS, and they wanted my consent to get tax information. UGH!
I've had my Discover card for 6+ years and they finally decided not to believe my income information.
I told the rep that I'd think about it or might call back to close the account.

Anyway, I said f*** it and filled out the 4506-C form. Barclays also got me earlier in the year for a business card, so what's another IRS inquiry at this point...
It took them almost two weeks, but finally got an email today saying all is well and the hold was lifted so I can start using my card again.
I can't wait to get a survey

Now that they know you make 500,000 , ask for $100k with a hard pull, become LEGEND!

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 13:26:25 GMT

@simplynoir wrote:
BofA is our main business checking account along with Chase so I don't ever see problems with them as well especially since they asked me awhile back what the hell I was doing with all the spending. I told them and haven't had an issue since but did ask for that CLI to be safe in the end. AMEX is our other bank and they already got a 4506 from me when I got the CLI on my back-then SPG card so I better not get flack from them as well

For your points glut this is the issue me and wife had when we had everything put on the business Plat card with AMEX for awhile. We had so many MR points coming in and even with travel redemptions they were adding up. Why we finally decided to cash out with Schwab even if we can can get better redemptions with travel and necessitated shifting spend to BofA PR and Socks AR that we do now. We used some of it for hazard pay for our employees due to pandemic and rest we keep for ourselves. For AR points me and the wife use them whenever we travel for leisure. For instance when we go to Austin we usually stay at the Four Seasons so that takes a good chunk out since she doesn't believe in going cheap lol. It doesn't get rid of all of them but helps lessen the pot

So if you feel cashing out is best do it since we have. At 3% earning rate that's nothing to sneeze at. You can always invest the money in other opportunities like the market, properties, other business ventures, etc to help you earn more than if you just have the points sitting there unused. It's like keeping money in a savings account: you can do more with it doing other stuff if you're already covered

I was typing up a response last night and passed out, haha. Funny you mentioned Austin because I had to catch a morning flight there.

You're right. I've been thinking a lot about cashing them out and using the money for something -- just don't know what yet. One thing about that is you have to apply your points to your card balance unless you have a USB checking (or maybe savings too) so you can transfer there. I know a statement credit is pretty much the same as transferring to a bank account, but there's something about the process of cashing out that's more rewarding

Best I can explain it as drink my coffee is, I love the taste of it and enjoy every sip. It wouldn't be the same if I shoved it down into my stomach through a tube -- even if it ends up in the same spot either way. I guess I'm weird like that.

Re: Discover $7k CLI --> Then 4506-C

imaximous — Fri, 03 Sep 2021 13:29:23 GMT

@AverageJoesCredit wrote:
@imaximous wrote:
The last time Discover granted me a CLI was in March 2020, which took me from $19k to $21.5k.. After that, they denied my requests more than 15 times
A couple of Sundays ago, I went for it again just for S&G expecting another denial. Surprisingly, they offered a $7k CLI. That put me at $28.5k. YAY!
But then, the very next day, I get a voicemail from Discover, which I thought was a scam because it was an automated voice message that sounded very fishy, so I ignored it. A little later, I get an email from 'echosign' saying that Discover wanted to verify some info through Equifax. Now it's getting weirder.
I ended up calling Discover to make sure someone wasn't trying to take me for an idiot. They confirmed that my account was frozen pending verification from the IRS, and they wanted my consent to get tax information. UGH!
I've had my Discover card for 6+ years and they finally decided not to believe my income information.
I told the rep that I'd think about it or might call back to close the account.

Anyway, I said f*** it and filled out the 4506-C form. Barclays also got me earlier in the year for a business card, so what's another IRS inquiry at this point...
It took them almost two weeks, but finally got an email today saying all is well and the hold was lifted so I can start using my card again.
I can't wait to get a survey

Now that they know you make 500,000 , ask for $100k with a hard pull, become LEGEND!

I'm not sure I'd want a $100k Discover card though. Anything over $1.5k per quarter is silly. Plus it's not that I make $500k anyway

Re: Discover $7k CLI --> Then 4506-C

simplynoir — Fri, 03 Sep 2021 13:42:13 GMT

@imaximous wrote:
@simplynoir wrote:
BofA is our main business checking account along with Chase so I don't ever see problems with them as well especially since they asked me awhile back what the hell I was doing with all the spending. I told them and haven't had an issue since but did ask for that CLI to be safe in the end. AMEX is our other bank and they already got a 4506 from me when I got the CLI on my back-then SPG card so I better not get flack from them as well

For your points glut this is the issue me and wife had when we had everything put on the business Plat card with AMEX for awhile. We had so many MR points coming in and even with travel redemptions they were adding up. Why we finally decided to cash out with Schwab even if we can can get better redemptions with travel and necessitated shifting spend to BofA PR and Socks AR that we do now. We used some of it for hazard pay for our employees due to pandemic and rest we keep for ourselves. For AR points me and the wife use them whenever we travel for leisure. For instance when we go to Austin we usually stay at the Four Seasons so that takes a good chunk out since she doesn't believe in going cheap lol. It doesn't get rid of all of them but helps lessen the pot

So if you feel cashing out is best do it since we have. At 3% earning rate that's nothing to sneeze at. You can always invest the money in other opportunities like the market, properties, other business ventures, etc to help you earn more than if you just have the points sitting there unused. It's like keeping money in a savings account: you can do more with it doing other stuff if you're already covered
I was typing up a response last night and passed out, haha. Funny you mentioned Austin because I had to catch a morning flight there.

You're right. I've been thinking a lot about cashing them out and using the money for something -- just don't know what yet. One thing about that is you have to apply your points to your card balance unless you have a USB checking (or maybe savings too) so you can transfer there. I know a statement credit is pretty much the same as transferring to a bank account, but there's something about the process of cashing out that's more rewarding
Best I can explain it as drink my coffee is, I love the taste of it and enjoy every sip. It wouldn't be the same if I shoved it down into my stomach through a tube -- even if it ends up in the same spot either way. I guess I'm weird like that.

We love Austin. My two younger sisters are finishing their final two years of college there and wife's two friends bought a condo there as well so we're free to stay with them if we wanted. We actually might make an impromptu run over there this Labor Day weekend but not sure yet

Since you're an Altitude Reserve (any card really) cardholder Socks's Gold checking account is fee free if you don't want to redeem your points via statement credit. They impose a $25 cashout minimum but that won't be an issue with you lol. I would do that and decide what you want to do with the cash. Worst case you can always put it in an account that earns interest while you think about what to do with it

Speaking of coffee I need more.....

Re: Discover $7k CLI --> Then 4506-C

gdale6 — Fri, 03 Sep 2021 14:26:35 GMT

Grats on your move up!

Im seeing that those who constantly smash the increase button are the ones who are being targeted for the 4506-T. I would not be asking for a CLI more than once every 6 months. Just because they allow a request every 30 days doesnt mean one should do it.

Re: Discover $7k CLI --> Then 4506-C

Anonymous — Fri, 03 Sep 2021 14:38:22 GMT

Someone stated yesterday on this site that one could request for CLI with Disco every 30 second...Don't know if such statement was sarcastic, serious, or for the kick....

As for the request for Tax documents, then so many people are seen receiving this request even though they never requested for any CLI...some were brand new customers...some were customers for 6 yrs or longer....I believe its a random thing now with disco...If one seriously review or read numerous reporting on this from all kinds of sites out there then it seems obvious that there is really no any factor or algorithm to cause it, rather its a random thing....and perhaps everyone would be subject to it soon or later...This is something very new that Disco has recently started...I would say in last few months...I have been Discover's customer for many many years, so does many of my family members but we never heard of it until in last few months...I have not asked for anything so far...but am I immune to it? I don't think so...or dont know it...