Baxter Credit Union extreme verification for a credit card

[BlueSea]

Hello. Joined BCU after reading good stuff about them. Opened a share savings account very easily and they assigned someone to me as a new member. I decided to apply for a travel rewards card . I applied over the phone and i was told i was approved. He wasn't quite sure but said for maybe $10 000. Later he e-mailed me and said they wanted me to send copies of my DL, SSN, pay stubs and utility bill. I did send them very soon. Today i receved an e-mail and they said  this was the last step. It's a form 4506-T which i read was request for transcript for my tax returns. I've never seen anything like that! Maybe i haven't dealt with credit unions before. Should i fill out this form or move on? Your advice is appreciated. 

[Anonymous]

I can't speak for BCU as I've never worked with or heard of them, however, I recently applied for a visa card via my credit union and it was easy breezy. My application went under review and they approved me the very next day. No verification or anything requested. It might have something to do with how long you've been in a relationship with the CU- I've heard that sometimes carries an impact. I've been with my CU coming on 2 years. 

[Anonymous]

After you send them all of this info, there will be an empty vial and a needle so they can verify your blood type.  Send this in along with your hair sample for verification purposes.

[BlueSea]

I joined a week ago. So i'm new. But is it really worth it to provide years of tax returns for a credit card (via third party company)?

[Anonymous]

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@BlueSea wrote:

I joined a week ago. So i'm new. But is it really worth it to provide years of tax returns for a credit card (via third party company)?

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If it were me I would not, however, you did already take a hard pull on your credit. How difficult is it to send them the documentation they're asking for? If it isn't too terribly out of your way and you know it'll be an approval, why not?

[JR_TX]

I would make them write me a letter guaranteeing that such transcript WILL NOT be shared with any other company other than BCU themselves. Especially data mining third companies such as LN that sells data for business.
If they can’t guarantee you that then we now know where else they generate business on!

[CreditCuriosity]

Baxter CU is known to hand out huge CL's.. Just depends how important it is to you for said card. I would love to be able to join then but very restrictive CU being GEO location or employer not other way in persay...  Just feel what you are comfortable with OP.  If you don't mind sharing your tax info and dependent info and write-offs then submit, if you do then think twice.  I wouldn't have an issue, but understand why others in certain scenarios choose not to for CC's.  I look at is as unsecured $ so they certainly can ask as it is their playground..  A mortgage is backed by property being secured and one has to provide 4506-t for them so meh i see no huge difference for my situation personally although as you can see opinions obviouslsy go other way as well.

[Anonymous]

Assuming you didn’t give a different stated income than what your AGI is on your transcript I would do it.  Look at it this way, if you need a car loan, personal loan whatever BCU will be your one stop lender.  They’ll have you completely verified.  It will be worth it in the long run.

[Anonymous]

Obviously there's something in the OP's credit profile that is causing concern for Baxter.  Then I looked at their brief posting history and see adverse action by FNBO and PenFed, and blacklisting by Amex so its probably not surprising their credit card app is getting a thorough examination by Baxter.  Based on my experience, their underwriters examine every detail.

[Mahraja]

+1 Maizean .i know them very well they never asked for 4506T no way...i have 80k+ limit of line of credit without a question .. i still don't believe they asked for 4506T.there is something in the OP's credit profile causing the issue no doubt...