topic Re: 4506-T form requested.. basically approved then? in Credit Card Applications

4506-T form requested.. basically approved then?

Anonymous — Fri, 13 Mar 2020 23:52:22 GMT

I applied for an Amex delta reserve card a week ago. I'm a current gold card holder with Amex and have been for five years. Never been late etc. I just received a request for a 4506-T form. Now, I'm not worried about sending it and I didn't lie about income, it will all jive. Once they confirm that would you say my chances of being approved are pretty good? I can't imagine they go to the trouble to request that just to decline me.

Re: 4506-T form requested.. basically approved then?

Anonymous — Sat, 14 Mar 2020 00:22:15 GMT

As long as income is what you reported then you're good. I wouldn't worry about it. If you don't send it back they can and/or will close all your AMEX cards. Amex don't play when it comes to that. I heard other card companies send them out and if you don't reply nothing really happens but AMEX is a different monster. So send it you'll be good. Normally they freeze your cards until you send it in did they do that with you?

@Anonymous wrote:
I applied for an Amex delta reserve card a week ago. I'm a current gold card holder with Amex and have been for five years. Never been late etc. I just received a request for a 4506-T form. Now, I'm not worried about sending it and I didn't lie about income, it will all jive. Once they confirm that would you say my chances of being approved are pretty good? I can't imagine they go to the trouble to request that just to decline me.

Re: 4506-T form requested.. basically approved then?

Anonymous — Sat, 14 Mar 2020 00:24:11 GMT

No it's weird, my charge card is still intact as normal. Maybe they just want to verify my income because the reserve card has a high annual fee and would need to issue a higher than normal SL? The only thing I can think of that triggered it.

Re: 4506-T form requested.. basically approved then?

Loquat — Sat, 14 Mar 2020 05:31:18 GMT

Doubtful that it was because of a higher annual fee...if that's the case when most of us around these here parts would have gotten hit with the request.

Something, and who knows what, caused them to want to take a closer look. It all is in order then you should be fine once the review is complete.

Best of luck to you.

Re: 4506-T form requested.. basically approved then?

Anonymous — Sat, 14 Mar 2020 08:49:19 GMT

@Anonymous wrote:
As long as income is what you reported then you're good. I wouldn't worry about it. If you don't send it back they can and/or will close all your AMEX cards. Amex don't play when it comes to that. I heard other card companies send them out and if you don't reply nothing really happens but AMEX is a different monster. So send it you'll be good. Normally they freeze your cards until you send it in did they do that with you?
@Anonymous wrote:
I applied for an Amex delta reserve card a week ago. I'm a current gold card holder with Amex and have been for five years. Never been late etc. I just received a request for a 4506-T form. Now, I'm not worried about sending it and I didn't lie about income, it will all jive. Once they confirm that would you say my chances of being approved are pretty good? I can't imagine they go to the trouble to request that just to decline me.

Actually just the opposite. Usually when you get to iirc $30k-$40k AMEX will send out a 4506-T. If you do not respond nothing happens except your CLI is denied. Or expired is probably more accurate way to put it. AMEX actually imho has the most resonable 4506-T policies. Its not as draconian as other lenders.

see this thread, plus Maizeandblue links to a few others.

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-cli-4506/m-p/5863522

Re: 4506-T form requested.. basically approved then?

seattletravels — Sat, 14 Mar 2020 14:14:01 GMT

@Anonymous wrote:
I applied for an Amex delta reserve card a week ago. I'm a current gold card holder with Amex and have been for five years. Never been late etc. I just received a request for a 4506-T form. Now, I'm not worried about sending it and I didn't lie about income, it will all jive. Once they confirm that would you say my chances of being approved are pretty good? I can't imagine they go to the trouble to request that just to decline me.

I wouldn't worry about it. As long as your income is in line with what you reported youth should be okay!

Re: 4506-T form requested.. basically approved then?

GApeachy — Sat, 14 Mar 2020 14:20:42 GMT

@Anonymous wrote:
I applied for an Amex delta reserve card a week ago. I'm a current gold card holder with Amex and have been for five years. Never been late etc. I just received a request for a 4506-T form.

On this last application was the income a dramatic change? If so, that could have caused them to check.

Re: 4506-T form requested.. basically approved then?

coldfusion — Sat, 14 Mar 2020 17:37:31 GMT

@Anonymous wrote:
As long as income is what you reported then you're good. I wouldn't worry about it. If you don't send it back they can and/or will close all your AMEX cards. Amex don't play when it comes to that. I heard other card companies send them out and if you don't reply nothing really happens but AMEX is a different monster. So send it you'll be good. Normally they freeze your cards until you send it in did they do that with you?

Don't equate an AMEX 4506-T request with an AMEX Financial Review.

A failure to respond to an AMEX 4506-T request does not impact existing accounts or credit limits, the potential consequences are limited to denial of the open request and subsequent CLI requests and applications.

In a similar vein a 4506-T request doesn't translate to certainty of approval if income was previously reported accurately.

Re: 4506-T form requested.. basically approved then?

Anonymous — Sun, 15 Mar 2020 17:52:53 GMT

Interesting why some get these requests with CLI's. What exactly prompts it? I was recenlty denied a CLI, no counter offer or Income request.

So they must already be privy to the Income I stated as being accurate?