topic Re: If you get amex 4506t in Credit Card Applications

If you get amex 4506t

Doodlebug30 — Fri, 30 Jun 2023 19:00:19 GMT

Just curious, if you apply for a cli and they want the 4506t, will they close your acct if u don't comply? Or just not give you the increase?

Re: If you get amex 4506t

Brian_Earl_Spilner — Fri, 30 Jun 2023 19:17:27 GMT

Back in the days you could simply back out and request lower numbers until it went through without requesting it. Have no idea nowadays.

Re: If you get amex 4506t

Rogue46 — Fri, 30 Jun 2023 19:28:48 GMT

From my understanding if you don't show the docs they request then you simply dont get the increase. I've never heard of accounts being closed because of that.

Re: If you get amex 4506t

GZG — Fri, 30 Jun 2023 19:47:18 GMT

@Doodlebug30 wrote:
Just curious, if you apply for a cli and they want the 4506t, will they close your acct if u don't comply? Or just not give you the increase?

typically? a POI for a CLI will be bank statements, which you can decline to provide

them asking for tax statements seems like a FR, which you can't decline without geting closed.

Re: If you get amex 4506t

Janneman — Sat, 01 Jul 2023 21:52:31 GMT

One of my friends requested CLI on one of her Amex cards...She received an email from Amex - (1) asking her for the latest bank statement within certain date (I believe within 2 weeks). Letter did indicate specific date in there to send the bank statement if she wants to pursue on her request for CLI; (2) letter also indicated that in the absence of receiving requested bank statement by the date mentioned in there, her request for CLI will be closed out....She chose not send out anything. So, no closure of account. However, fiancial review is something else which can not be escaped from if one is subjected to it unless you dont mind closure of ALL Amex accounts....

Re: If you get amex 4506t

Doodlebug30 — Fri, 30 Jun 2023 23:28:04 GMT

thanks everyone! This hasnt happened to me yet but I am at 34k SL on my BCP and I want to roll the dice for more but I am nervous lol

Re: If you get amex 4506t

nytokyobred79 — Sat, 01 Jul 2023 05:19:55 GMT

@Doodlebug30 wrote:
thanks everyone! This hasnt happened to me yet but I am at 34k SL on my BCP and I want to roll the dice for more but I am nervous lol

My experience to date is that when Amex requested payslips from me a year ago due to a cli request, I let the request expire, proceeded to run up the card about 75% of limit(paid it down quickly), then instead got an automatic increase. After that, I then went on to request another manual cli and was able to get a bit more. YMMV but I wouldn't worry about payslip requests. You can disregard if you wish. I would take a chance bc if you aim high and your spending merits it, they may counter with 40K, 45K who knows 😊

Re: If you get amex 4506t

coldfusion — Sat, 01 Jul 2023 14:48:01 GMT

@Doodlebug30 wrote:
thanks everyone! This hasnt happened to me yet but I am at 34k SL on my BCP and I want to roll the dice for more but I am nervous lol

The $35K threshold isn't tied to an announced policy, it comes from being a commonly cited figure based on multiple data reports that triggered a POI request (i.e. at the time a 4506-C request to see the last 2 years of reported income that the IRS is making available). Asking for more than $35K doesn't guarantee a request and it's simply income verification, not an AMEX Financial Review.

Historically the IRS did not make available the previous tax year's results available until sometime in August. That was impacted by the pandemic but I don't know what the expectation is for availability of 2022 data. Based on pre-pandemic outcomes a request right now for the last 2 years of data would return 2020 and 2021 federal tax information.

You can ignore the request without impacting your current cards or limits, but you won't get the CLI and it will be a YMMV as to whether they would ask if in the future if you again requested a CLI or applied for another card.

Re: If you get amex 4506t

GZG — Sat, 01 Jul 2023 17:22:32 GMT

@coldfusion wrote:
@Doodlebug30 wrote:
thanks everyone! This hasnt happened to me yet but I am at 34k SL on my BCP and I want to roll the dice for more but I am nervous lol

The $35K threshold

has that threshold counted POT limits from charge cards in the past?

Re: If you get amex 4506t

coldfusion — Sat, 01 Jul 2023 21:28:41 GMT

@GZG wrote:
@coldfusion wrote:
@Doodlebug30 wrote:
thanks everyone! This hasnt happened to me yet but I am at 34k SL on my BCP and I want to roll the dice for more but I am nervous lol

The $35K threshold
has that threshold counted POT limits from charge cards in the past?

No, the $35K number is specific to the individual card targeted for the CLI. There have been some data points in the past that suggest a CLI request made when TCL across American Express-issued CC is already somewhere around $75-$85K can sometimes lead to a 4506 request but that isn't definitive either.

Re: If you get amex 4506t

RockyTop_TN — Mon, 03 Jul 2023 01:03:11 GMT

@Doodlebug30 wrote:
Just curious, if you apply for a cli and they want the 4506t, will they close your acct if u don't comply? Or just not give you the increase?

I ran into this earlier in June. I requested an increase fro. 35k to 50k and they requested bank statements. I gave them access and said they would be in contact in 7-10 days. I assumed it was a denial but a few days later I received an email approving the request.

Re: If you get amex 4506t

Janneman — Mon, 03 Jul 2023 01:23:56 GMT

@RockyTop_TN wrote:
@Doodlebug30 wrote:
Just curious, if you apply for a cli and they want the 4506t, will they close your acct if u don't comply? Or just not give you the increase?

I ran into this earlier in June. I requested an increase fro. 35k to 50k and they requested bank statements. I gave them access and said they would be in contact in 7-10 days. I assumed it was a denial but a few days later I received an email approving the request.

Did you have enough fund in your account to prove your income or assets, or just a little fund was there?

Re: If you get amex 4506t

RockyTop_TN — Mon, 03 Jul 2023 03:25:01 GMT

@Janneman wrote:
@RockyTop_TN wrote:
@Doodlebug30 wrote:
Just curious, if you apply for a cli and they want the 4506t, will they close your acct if u don't comply? Or just not give you the increase?

I ran into this earlier in June. I requested an increase fro. 35k to 50k and they requested bank statements. I gave them access and said they would be in contact in 7-10 days. I assumed it was a denial but a few days later I received an email approving the request.

Did you have enough fund in your account to prove your income or assets, or just a little fund was there?

I had the requisite amount to prove why they asked.