Replacing Discover after random 4506 request. What cards do you recommend? Data Points included

[GoalCrus]

@Remedios Oh they absolutely asked me for the 4506 via Equifax.  They said I have until early June to respond. I plan to close the account before that; at least 2 weeks prior.

[Remedios]

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@GoalCrus wrote:

@RemediosOh they absolutely asked me for the 4506 via Equifax.  They said I have until early June to respond. I plan to close the account before that; at least 2 weeks prior.

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I see.
Thank you for clarifying. 

[FinStar]

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@GoalCrus wrote:

Apparently, "everyone" will be required to provide a 4506 T at some point. I'm not willing to provide this data to Equifax w/o permission and frankly, compensation. It's like you've made all this money from me swiping and maybe some interest and now you want to verify? Puhleez. No thank you. Moving on.

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@Mr_Mojo_Risin wrote:

Most of the time I've only seen Discover ask for that from new apps.

I've heard of a few but not many, sorry to hear that.

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I seriously doubt that over 50 million of their current credit card customers will be subject to this.

But, I will point out (per their 10-K filing - Feb 2021) the following applies to a variety of cardholders -- their Risk Management section offers a bit more insight. So, evidently, this wasn't a random trigger for such a request.  This, of course, is for the benefit of the community since we don't have any access to your overall profile (besides what you shared upthread) nor do we know what internal flags prompted such action + the sky isn't falling with regard to 4506-T requests, for everyone.

Portfolio Management (Existing Customers)

The revolving nature of our credit card loans requires that we regularly assess the credit risk exposure of such accounts. This assessment uses the individual’s Discover account performance information as well as information from credit bureaus. We utilize statistical evaluation models to support the measurement and management of credit risk. At the individual customer level, we use custom risk models together with moregenerally available industry models as an integral part of the credit decision-making process. Depending on the duration of the customer’s account, risk profile and other performance metrics, the account may be subjectto a range of account management treatments, including transaction authorization limits and increases or decreases on credit limits.

[GoalCrus]

@FinStar Respectfully, we're all here on a forum anonymously. I have no reason to misrepresent my situation, especially since I'm seeking a solution.

My behavior on the card has not changed.

The highest balance on the card EVER was below 50% and that was paid off more than a year. 

Discover has been my go to since day one. And if you review my history on the forum, you'll see I went from a SL of $9k to $19.5k quickly and w/o me 3X- ing and all that stuff. They liked my profile + activity and kept increasing.

This 4506 request event actually, prompted me to consider other solutions, otherwise I would not be seeking any new accounts or CLIs. I'm trying to avoid a hit on my profile.

I will say this, I was given three different responses when I called about it:

1. "We just need to verify your identity."

2. "This is absolutely random, and can happen to any customer. You were not specifically targeted. I see you have been with us since  2018 and are in great standing."

3. "We just need to verify your personal information on the account."

Me: What personal information?

Them: Your personal information on the account. Any and all information on your account.

Me: Is there any other information I can provide in lieu of my tax filings.

Them: No

And I want to be clear, I did not prompt these responses, they led with them. This experience solidified it for me.

Anyway, this has been my experience and I'm sharing it for the benefit of the community.

And I'd like some suggestions.

That is all.

[Shooting-For-800]

Discover is your highest CL, right?

Do you own your own business?

Either of those could trigger 4506 IMO.

GL!

[Anonymous]

Just a thought. Maybe pulled Business Report and saw something that triggered, idk. Anyone can pull at anytime, not protected like personal.

[risingup2day]

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@GoalCrus wrote:

As we all know or are discovering (pun intended) Disco is serving up 4506-Ts via Equifax to everyone, eventually. That is a NO for me dawg. However, my total available credit is about to take a hit from $49,000 to 29,500.

So hoping to get some suggestions on a game plan for increases + new accounts. I'd be happy if I can recoup half (or 10k). Also, hoping my score doesn't take too much of a hit from the decrease in available credit and or new credit.

Here are my data points:

EX: 771 EQ: 771 TU: 752 (as of 4/23)

AAOA: 10.3 yrs Total UTI: 15%  Student Loans: 1998, $29k ball

Personal

• Capital One: 3.5yrs, $0/$750
• Amex Delta Blue: 3yrs, $0/$3k
• Amazon: 3yrs, $0/$5k
• WF Plat: 21mos, $6k/$9,750 [Now $12,500, CRAZY, they randomly increased the same day I posted!! I didn't even request!]
• NFCU: 2.75 yrs, $0/$5k
• Citibank Rewards: 2yrs, $0/$6k
• Discover It: 3yrs, $500/$19,500 (closing end of May)

Business ( just in case, especially for Amex):

• Amex BBP $10k/$14k
• Amex BBC $0/$4k
• Chase Ink $6k/$7.7k

Amex BBC $0/$6k [Authorized User]

Marriot Monvoy [Closed in January + PC'd for Blue  and took a 3k CL loss]

Thanks in advance for your help!

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Sorry to hear about this and wish I had something to add, but sadly I have nothing . Curiously, if I may ask, Are you reporting that you are self employed? Just trying to get a angle on the trending 4506-T inquiries. Thank you and wish you the best.

[laocfico]

I recently pulled my EWS and Discover dings it very randomly. No reviews/SPs on my Equifax report and only 2 on Transunion (both a month ago)

4/15/2020

5/19/2020

5/23/2020

6/22/2020

6/26/2020

3/23/2021

4/07/2021

[jnbowmar]

Thanks for adding that about early warning systems, they are clearly looking for what they deem is irresponsibile banking information or possibile fraud to use it lending decisions. Thats probably the only reason they offer saving and checkings, not becuase people use their banking products or even that they want people to, but becuase it gives them an excuse to use early warning systems for their core buisness, which is lending. 

Amex is doing the same thing with Kabbage, offering checking accounts as of today.  And Capital One has been offering checking and savings for a while now, giving them access to the same info. 

How using banking information from other institutions in lending decesions relates to the card act would interest very much, if anyone knows.

[Anonymous]

This part is interesting: 

"the account may be subject to a range of account management treatments, including transaction authorization limits."

So that means you can use your card and the charge gets declined, even though you have enough available credit. That's why it's always good to have more than one card, just in case.😬