And if Amex is any indication... they dont / or wont use the paystubs or care about the household income as well... so the op will likely lose out on that.. a 4506-T is like using a stale credit report with missing data.. and giving them more data than they need for a credit card decision .. Doubt they are gonna offer a 40-50K line for it....
-J
@sarge12 wrote:
@Anonymous wrote:
I'm going to play devil's advocate and say go ahead and submit it. You were interested enough in the card to apply and like me you shop Costco on the regs and stand to benefit from the Costco Visa. If you end up getting a lower limit then you hoped for and feel like the info from your 2017 return not accurately reflecting your financial picture was at fault, you can always go for a CLI later.
The reason I say submit is this (agree or not it's essentially true): granting the authorization won't give a lender any information about you that you haven't already provided - unless you fudged some numbers. Think about it, with the exception of knowing exactly where and exactly how much income you have reported instead of maybe a job title or employer's name and a ballpark figure income, what else didn't you already put on your initial application? Name, address, dob, SSN, income, mortgage or rent, total household income perhaps. We're talking granular details about information you already submitted. I agree that it feels invasive but also think it's not nearly as big a deal as if they say asked for all your current bank statements or medical and insurance records. Not saying the principle is wrong but that in the end I feel it's more of a redundant double check if what you stated as your financial profile than invasion of privacy. If you want the card go for it.Name and SSN of spouse and children...charitable organizations maybe... Checking account number and routing number if refund or payment used these accounts. A tax return has much more info than I have ever put on a credit app, and who knows which employees of Citi will see this. Income verification can be done with a W2 or pay stub. Who might Citi sell this info to, described as "partners"? The 4506-T request even has a warning.
Caution: If the tax transcript is being mailed to a third party, ensure that you have filled in lines 6 through 9 before signing. Sign and date the form once you have filled in these lines. Completing these steps helps to protect your privacy. Once the IRS discloses your tax transcript to the third party listed on line 5, the IRS has no control over what the third party does with the information. If you would like to limit the third party’s authority to disclose your transcript information, you can specify this limitation in your written agreement with the third party
+9001
Look I get it, people fudge their incomes and you want to make sure they didn't exaggerate (too much). I'm perfectly fine with that, so I'd be ok with supplying W-2's and paystubs if asked. But there is absolutely no reason whatsoever to ask for my tax return. It contains a whole slew of extra information that is of absolutely zero relevance to my creditworthiness. This isn't a mortgage application for crying out loud, we're talking about a credit card here!
@Anonymous wrote:
@Anonymous you got me on that one & I respectfully retract my previous statement.
Had been thinking only from perspective of a individual filing without dependents, which is extra stupid since that doesn't even describe my returns let alone most others here. I'll agree risk isn't worth it.
I'm single with no dependents but let's just say my 1065, 1099-B, 1099-DIV, and 1099-INT are none of the bank's business. 
(no I do not include any of those as "income")
