@Remedios wrote:
@K-in-Boston wrote:30% is unlikely to make much of a difference. Discover is not looking to see that someone who is reporting $40k income only made like $32k 3 years ago; they are looking for someone reporting that they are making $200k a year didn't make $32k and $34k the previous few years. It's not Discover who is requesting 2017 and 2018, it's just that those are the two most recent transcripts available from the IRS. The previous year is unavailable until August, and for 2019 it will likely be much later as the deadline for filing has been pushed back to July 15th this year.
In a world where every part time Taco Bell employee is making $250k a year, it's not an unreasonable request from the lender. It's voluntary and not required; one can always just not keep the card.
As for The Work Number, not all employer payroll is compiled there and it is most certainly not available to the general public. Anyone pulling a report must have a permissible purpose.
There is a world of difference between $20,000.00 and $30,000.00.
For someone who might be struggling, that's the difference between being able to pay your bills, and needing cards to pay your bills.
If you need to know what Discover finds as an acceptable difference, there is a pretty large thread with many data points, and that's without those who started their own threads.
They have shut cards down for a whole lot less. I think the largest discrepancy where card survived was 10%, but in that case, due to backlog, they allowed paystubs and bank statements
Discover not only will pull Work Number, they also pull sage stream, ars, chex.
So, yeah, they are concerned about discrepancy between reality and "they'll never know"
But yeah, everyone around here be in "upper six figures" and sometimes that means counting zeros past the period.
I'm always too polite to ask for clarification as to whether the poster really meant "upper one hundred thousands" like $175-195k, or if they truly meant $750k+. Because that's even more of a discrepency than $20k/$30k. 
@Anonymous wrote:My question is does everyone get this request? I'm debating filling out an app for the citi secured card and just putting 2018 income in case they do the verification too, but I'm not sure if it's wise to do the hard pull. I already have capital one. My opensky card should be here next week but credit karma says I need 6 open accounts so I'm feeling the pressure.
I haven't heard of any 4506-T requests out of Citi around here. AFAIK, Discover is the only bank occasionally asking this on secured cards.
When I applied for Discover in 2016, I only had to prove my DW last name was the same as mine for her AU card. Sent in a copy of our marriage license and her DL, no problems since then. I don't think I started hearing about Discover and the 4506-T's until maybe 1-1½ years ago.
You *don't* need 6 open accounts when it comes to FICO scoring. 3 bank revolvers with AZEO and a personal/car/home loan are all that's necessary to maximize scores. Credit Karma plays by a different set of rules.
@Anonymous wrote:
@ChargedUp wrote:
@Anonymous wrote:My question is does everyone get this request? I'm debating filling out an app for the citi secured card and just putting 2018 income in case they do the verification too, but I'm not sure if it's wise to do the hard pull. I already have capital one. My opensky card should be here next week but credit karma says I need 6 open accounts so I'm feeling the pressure.
I haven't heard of any 4506-T requests out of Citi around here. AFAIK, Discover is the only bank occasionally asking this on secured cards.
When I applied for Discover in 2016, I only had to prove my DW last name was the same as mine for her AU card. Sent in a copy of our marriage license and her DL, no problems since then. I don't think I started hearing about Discover and the 4506-T's until maybe 1-1½ years ago.
You *don't* need 6 open accounts when it comes to FICO scoring. 3 bank revolvers with AZEO and a personal/car/home loan are all that's necessary to maximize scores. Credit Karma plays by a different set of rules.
Thank you for responding. You calmed my nerves a little. I will have to look up what AZEO means.
AZEO = All Zero Except One. This means that out of the 3 or more cards you have. All are reporting a balance of $0.00 to the credit reporting agencies, except one card. This card should be reporting a minimal balance below 8.9% of its credit limit.
Having ALL your cards report zero actually penalizes your score.
@Anonymous wrote:My question is does everyone get this request? I'm debating filling out an app for the citi secured card and just putting 2018 income in case they do the verification too, but I'm not sure if it's wise to do the hard pull. I already have capital one. My opensky card should be here next week but credit karma says I need 6 open accounts so I'm feeling the pressure.
Look like we are on the same boat, I am going to apply for Citi Secured Card if Discover decides to shut me down. I got Mission Lane and Open Sky already. I got a charged off from Cap One back in 2017 and already paid in full, just waiting for them to let me back in XD. Good luck with your rebuilding! FYI I put down 5400 monthly income but my 2017-2018 annual income is around 47k. My nephew recently got an unsecured Discover card with 1k SL as a college student earning 12k-15k a year.
Starting Score: 02/15/20 Fico (TU) 500 Fico (EQ) 512 Fico (EX) 490
@Anonymous wrote:
@AllZero wrote:@Anonymous Common Abbreviations
Heavens to Betsy. Lol. That's a lot of abbreviations. I had to screenshot bc there's no way I will remember all that. Thank you for linking it for me.
You are welcome. The more you read and absorb, you'll get the hang of the abbreviations, short talk in no time.