topic Re: Amex CLI 4506T request in Credit Cards

Amex CLI 4506T request

sillykitty1 — Mon, 16 Mar 2015 17:52:28 GMT

Hello, my recent Amex 3X CLI request triggered the 4506T form

Per the 3x CLI sticky, these factor are what triggered it

New requested credit limit exceeds $25,000 for that particular account.
New requested credit limit would make overall credit extended across all Amex revolving accounts exceed $34,500

I filled out the 4506T form, as my tax returns are simple and don't have an issue with Amex seeing anything on them.

Delta Amex $8,600 CL request for $25,800 CL

Have a Blue Sky w a $10K limit, so total Amex exposure would be $35,800 if approved.

2 questions on the 4506T

My income I put on the CLI app is 8% higher than my 2013 tax return. Is it safe to assume that is an understandable variance since they are seeing income from 15 months ago?
My address on my tax return is different than my address Amex has and my CR's have. It shows up as a previous address on my CR's. Will this be an issue?

Re: Amex CLI 4506T request

ibmrad7 — Mon, 16 Mar 2015 18:04:52 GMT

They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.

Re: Amex CLI 4506T request

Anonymous — Mon, 16 Mar 2015 18:29:31 GMT

@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.

They allow electronic 4506-T? Or something else?

Re: Amex CLI 4506T request

ibmrad7 — Mon, 16 Mar 2015 18:32:06 GMT

@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?

Yes, it was an electornic form for me. Popped open in the same window as the CLI request form. It takes your digital sigantures, most of the stuff comes pre-filled. You just need to fill in, years, your social and signature.

Re: Amex CLI 4506T request

sillykitty1 — Mon, 16 Mar 2015 18:32:15 GMT

@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?

Yes, filled out the form and submitted it all on the Amex site

Re: Amex CLI 4506T request

Anonymous — Mon, 16 Mar 2015 18:33:47 GMT

@sillykitty1 wrote:
@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?
Yes, filled out the form and submitted it all on the Amex site

Oh, that's a nice change. I had to fax one in three times because things weren't clear, or too dark etc. Presumably this should end that trouble.

Re: Amex CLI 4506T request

ibmrad7 — Mon, 16 Mar 2015 18:37:45 GMT

@Anonymous wrote:
@sillykitty1 wrote:
@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?
Yes, filled out the form and submitted it all on the Amex site
Oh, that's a nice change. I had to fax one in three times because things weren't clear, or too dark etc. Presumably this should end that trouble.

Yes. Mailing is another hassell. Do you remember, how long it took for them to get back to you after you mailed in?

Re: Amex CLI 4506T request

Anonymous — Mon, 16 Mar 2015 18:41:35 GMT

@ibmrad7 wrote:
@Anonymous wrote:
@sillykitty1 wrote:
@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?
Yes, filled out the form and submitted it all on the Amex site
Oh, that's a nice change. I had to fax one in three times because things weren't clear, or too dark etc. Presumably this should end that trouble.
Yes. Mailing is another hassell. Do you remember, how long it took for them to get back to you after you mailed in?

Not really. At a guess two weeks once the form as accepted by them, maybe a little less.

Re: Amex CLI 4506T request

ibmrad7 — Mon, 16 Mar 2015 18:43:48 GMT

@Anonymous wrote:
@ibmrad7 wrote:
@Anonymous wrote:
@sillykitty1 wrote:
@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?
Yes, filled out the form and submitted it all on the Amex site
Oh, that's a nice change. I had to fax one in three times because things weren't clear, or too dark etc. Presumably this should end that trouble.
Yes. Mailing is another hassell. Do you remember, how long it took for them to get back to you after you mailed in?
Not really. At a guess two weeks once the form as accepted by them, maybe a little less.

Thanks

Re: Amex CLI 4506T request

Anonymous — Mon, 16 Mar 2015 19:03:23 GMT

@ibmrad7 wrote:
@Anonymous wrote:
@ibmrad7 wrote:
@Anonymous wrote:
@sillykitty1 wrote:
@Anonymous wrote:
@ibmrad7 wrote:
They requested mine yesterday as well. I filled everything electronically, hope they approve.

To answer your first question, my income has a variance as well. I reported 131K to Amex and most recent W2 will show 124K.
They allow electronic 4506-T? Or something else?
Yes, filled out the form and submitted it all on the Amex site
Oh, that's a nice change. I had to fax one in three times because things weren't clear, or too dark etc. Presumably this should end that trouble.
Yes. Mailing is another hassell. Do you remember, how long it took for them to get back to you after you mailed in?
Not really. At a guess two weeks once the form as accepted by them, maybe a little less.
Thanks

This should speed the whole process up anyway. So before that had to get the fax, check it, etc and presumably send it (hopefully electronically) to the IRS. Now it might be almost pass through, so just the time taken for the IRS to return the transcript and then for Amex to make their decision.

Re: Amex CLI 4506T request

ibmrad7 — Mon, 16 Mar 2015 19:05:53 GMT

@Anonymous wrote:

This should speed the whole process up anyway. So before that had to get the fax, check it, etc and presumably send it (hopefully electronically) to the IRS. Now it might be almost pass through, so just the time taken for the IRS to return the transcript and then for Amex to make their decision.

True. Does asking for Tax transcript means they are willing to give a CLI? Is it better than a flat out denial...?

Re: Amex CLI 4506T request

Anonymous — Mon, 16 Mar 2015 19:10:59 GMT

@ibmrad7 wrote:
@Anonymous wrote:

This should speed the whole process up anyway. So before that had to get the fax, check it, etc and presumably send it (hopefully electronically) to the IRS. Now it might be almost pass through, so just the time taken for the IRS to return the transcript and then for Amex to make their decision.
True. Does asking for Tax transcript means they are willing to give a CLI? Is it better than a flat out denial...?

Well, as you say, obviously better (at least initially) than a denial! But I assume it depends on what they see.

I've done this twice. The first time they gave me only part of what I requested (with reasons that t he card was new and I had hardly used it), the second time I got the full amount I asked for.

Re: Amex CLI 4506T request

ibmrad7 — Mon, 16 Mar 2015 19:22:02 GMT

@Anonymous wrote:
@ibmrad7 wrote:
@Anonymous wrote:

This should speed the whole process up anyway. So before that had to get the fax, check it, etc and presumably send it (hopefully electronically) to the IRS. Now it might be almost pass through, so just the time taken for the IRS to return the transcript and then for Amex to make their decision.
True. Does asking for Tax transcript means they are willing to give a CLI? Is it better than a flat out denial...?
Well, as you say, obviously better (at least initially) than a denial! But I assume it depends on what they see.

I've done this twice. The first time they gave me only part of what I requested (with reasons that t he card was new and I had hardly used it), the second time I got the full amount I asked for.

I hope they show some love :-)

Re: Amex CLI 4506T request

sillykitty1 — Tue, 17 Mar 2015 14:52:32 GMT

Bump!

There has been enough 4506T talk on this forum for someone to have experience, I hope!

2 questions on the 4506T

My income I put on the CLI app is 8% higher than my 2013 tax return. Is it safe to assume that is an understandable variance since they are seeing income from 15 months ago?
My address on my tax return is different than my address Amex has and my CR's have. It shows up as a previous address on my CR's. Will this be an issue?

Re: Amex CLI 4506T request

Anonymous — Tue, 17 Mar 2015 15:25:34 GMT

@sillykitty1 wrote:
Bump!

There has been enough 4506T talk on this forum for someone to have experience, I hope!

2 questions on the 4506T
My income I put on the CLI app is 8% higher than my 2013 tax return. Is it safe to assume that is an understandable variance since they are seeing income from 15 months ago?
My address on my tax return is different than my address Amex has and my CR's have. It shows up as a previous address on my CR's. Will this be an issue?

Yes, 8% should be well within the threshold

Address shouldn't really matter, the IRS transscript is an official form linked to your SSN, and is a year old, so the address mismatch shouldn't matter, especially as it is also on the CR.

Re: Amex CLI 4506T request

sillykitty1 — Tue, 17 Mar 2015 15:54:06 GMT

@Anonymous wrote:
@sillykitty1 wrote:
Bump!

There has been enough 4506T talk on this forum for someone to have experience, I hope!

2 questions on the 4506T
My income I put on the CLI app is 8% higher than my 2013 tax return. Is it safe to assume that is an understandable variance since they are seeing income from 15 months ago?
My address on my tax return is different than my address Amex has and my CR's have. It shows up as a previous address on my CR's. Will this be an issue?
Yes, 8% should be well within the threshold

Address shouldn't really matter, the IRS transscript is an official form linked to your SSN, and is a year old, so the address mismatch shouldn't matter, especially as it is also on the CR.

Thanks!

Re: Amex CLI 4506T request

John02 — Fri, 29 May 2015 07:04:15 GMT

I also got the electronic 4506-t request after requesting a CLI from 8.3k to 25k (I have another Amex also with 25k limit so this would have put my total limit over the 34.5k aggregate amount some people have mentioned). I submitted the form however I also have a question on variance:

For 2013 (most recently available transcript as of now through the IRS), my 1040 only had my income information on it. Since then, my wife has graduated school and gotten a job as well. I have also gotten raises. The income amount I put on the original CLI request was a rough (but should be pretty accurate) approximation of our combined income for this year. However, that is around a 65% increase in income compared to just my income in 2013. I chatted online with a CSR who directed me to call a CLI specialist during the hours they are available so I plan to do that tomorrow to explain the situation.

Does anyone have any thoughts or experiences on anything like this? Is there anything else I should mention to them?

Thanks