Data points regarding discover equifax irs requests

[Thermionic_E]

Reading the post from a previous contributor stating he had fully utilized business cards (I have the evergreen fnbo reporting at 15k) and members stating that self employment or business ownership could trigger this, I realized that these apply to me and only after cli requests were made last year did I get the request. I paid my business card down to zero and am waiting for it to report. It may be too late, but my discover card is only 0/4K so I don't care too much. 

[FinStar]

When did you receive the Discover 4506C request? Was this recently or...? 

While the two conditions you mentioned could be potential triggers, that's not always the case. Multiple DPs have pointed to a variety of other factors that have triggered the 4506C review.

[Thermionic_E]

Let me double check. I'm going to call them and decide whether or not I should just close because I found threads mentioning stated income with a partner (together 15 years or so) that is not shared on tax filings results in closure. I'll update this post after I get home from the warehouse. 

[Drifter73]

Discover is touchy when it comes to the 4506C.

My first rebuild card was a discover it secured. They took the money, approved the card, let me activate the card, then froze the card pending a 4506C.

They stated the reason was to confirm my physical address.

In my case, I have x2 physical addresses on file with the IRS. However, my physical mailing address is different than my physical Residencial address.

Even though I had x4 years filed with both addresses, Discover closed the card and refunded me based on the filing mailing address not matching the filing residential address.

I applied as self employeed / independent  contractor, which x4 years tax returns verified for them, which might be something else that triggered the 4506C in the first place.

Odd experience, but I'm rebuilding fine without them. Ive never had issues like that with any other lender for being self employed and having 2 different physical addresses.

Your situation is probably different than mine, as to the reason they requested a 4506C, but thought I would share my experience with it in case one of the data points helps.

[FinStar]

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@Thermionic_E wrote:

Let me double check. I'm going to call them and decide whether or not I should just close because I found threads mentioning stated income with a partner (together 15 years or so) that is not shared on tax filings results in closure. I'll update this post after I get home from the warehouse. 

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So, what was the outcome of this @Thermionic_E?

[Thermionic_E]

They have given me strange scripted responses stating that they regret my feelings about the data points I have referenced from others whose stated income doesn't match because of the inclusion of very long term partners with which they aren't (in the eyes of the irs) a singular income, as well as other sources of wealth that isn't going to be relevant on a tax form and may be filed separately also... I told them I regret their decision and it isn't my own as I would prefer to keep my account open, as I have zero missed payments, PIF, and utilize half to all of my card on a diverse range of categories, and I was told they would be contacting me and it is being submitted to underwriting. I apparently have failed to sign their irs request since July! My account has been frozen for two months.... I don't know what the hold up is. 

edit - really glad I found this thread because I almost signed the release but held off a little longer considering it and when I meant to it had expired. My stated income isn't a match at all so I'd rather not embarrass myself with thr formal blindspots and be treated as if I am a liar.

oh, and I've been trying to get my mail and the reporting agencies updated as well as everything else, and empty two much smaller but very expensive storage units for my business, and pick up a trailer... so I didn't mean to leave you hanging. Sadly, my information isn't very useful. I think I'll call again and see what they have to say. Their reps are always super nice and helpful. 

[FinStar]

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@Thermionic_E wrote:

They have given me strange scripted responses stating that they regret my feelings about the data points I have referenced from others whose stated income doesn't match because of the inclusion of very long term partners with which they aren't (in the eyes of the irs) a singular income, as well as other sources of wealth that isn't going to be relevant on a tax form and may be filed separately also... I told them I regret their decision and it isn't my own as I would prefer to keep my account open, as I have zero missed payments, PIF, and utilize half to all of my card on a diverse range of categories, and I was told they would be contacting me and it is being submitted to underwriting. I apparently have failed to sign their irs request since July! My account has been frozen for two months.... I don't know what the hold up is. 

edit - really glad I found this thread because I almost signed the release but held off a little longer considering it and when I meant to it had expired. My stated income isn't a match at all so I'd rather not embarrass myself with thr formal blindspots and be treated as if I am a liar.

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So your account is still frozen it sounds like.

I doubt there may be any fruitful outcome on this to be honest so temper your expectations. Also, keep in mind that telling them about 'internet' data points is useless. They are mitigating risk based on your overall profile and the information you provided + the information they may have obtained from other sources, so 'internet' data points isn't going to help your cause. So, while some 4506C instances have been able to be reversed and resolved for a small number of individuals, more often than not, accounts are typically closed.