cancel
Showing results for 
Search instead for 
Did you mean: 

Request for help: I was asked to provide a 4506 form, can I cancel this application?

tag
Anonymous
Not applicable

Request for help: I was asked to provide a 4506 form, can I cancel this application?

I submitted AMEX green card application and was asked to provide a Form 4506, can I cancel this application?

If I cancel this application, can I apply for another credit card immediately? Or do I have to wait 90 days before I can apply again?

Message 1 of 13
12 REPLIES 12
Jnbmom
Credit Mentor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?


@Anonymous wrote:

I submitted AMEX green card application and was asked to provide a Form 4506, can I cancel this application?

If I cancel this application, can I apply for another credit card immediately? Or do I have to wait 90 days before I can apply again?


If you don't comply the will not proceed with application . If you apply for another card since they requested this , I am sure they will request again with other applications in the future.

 

Are you a current card holder with them? Did you report a high income ?

EXP 780 EQ 796 TU 810
Message 2 of 13
Anonymous
Not applicable

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?

I do not have any  AMEX credit cards.
My declared income is $61,000.

Message 3 of 13
Jnbmom
Credit Mentor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?


@Anonymous wrote:

I do not have any  AMEX credit cards.
My declared income is $61,000.


Not sure what triggered the IRS form then?

EXP 780 EQ 796 TU 810
Message 4 of 13
Red1Blue
Super Contributor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?


@Anonymous wrote:

I submitted AMEX green card application and was asked to provide a Form 4506, can I cancel this application?

If I cancel this application, can I apply for another credit card immediately? Or do I have to wait 90 days before I can apply again?


Once they ask for 4506 request is in their system and it will not go away. You have nothing to fear or worry about 4506. I would not worry too much about the form and I am sure they will approve your application. Just send it.

Message 5 of 13
Remedios
Credit Mentor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?

@Anonymous  do you know your EX Fico 8 score, and are there any negative items on your credit report?

Also, how old is your oldest account?

Also, employment wise, are you self employed, recent job changes, is your entire income taxable or did you include other sources? 

 

Message 6 of 13
Anonymous
Not applicable

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?

My credit score is EX 742, EQ 728.

Credit history is 14 months.

I am a self-employed professional and I haven't filed my taxes yet.

But I have a Capital one secured card, a Citi diamond preferred card,the Bank of America checking account and  the Capital one checking account.

 

 

Message 7 of 13
CreditCrusader
Valued Contributor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?


@Anonymous wrote:

My credit score is EX 742, EQ 728.

Credit history is 14 months.

I am a self-employed professional and I haven't filed my taxes yet.

But I have a Capital one secured card, a Citi diamond preferred card,the Bank of America checking account and  the Capital one checking account.

 

 


I'm not sure what the concern here is. If your income matches your documentation, then it's smooth sailing.

 

AMEX and Discover are notorious for requiring this sort of stuff. It's the cost of having their products.

In my wallet: AMEX Gold (NPSL), AMEX Green (NPSL), Local Credit Unions (2 cards: VISA, MC, $25,000 CL each)
Message 8 of 13
designated_knitter
Established Contributor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?


@CreditCrusader wrote:

@Anonymous wrote:

My credit score is EX 742, EQ 728.

Credit history is 14 months.

I am a self-employed professional and I haven't filed my taxes yet.

But I have a Capital one secured card, a Citi diamond preferred card,the Bank of America checking account and  the Capital one checking account.

 

 


I'm not sure what the concern here is. If your income matches your documentation, then it's smooth sailing.

 

AMEX and Discover are notorious for requiring this sort of stuff. It's the cost of having their products.


If OP hasn't filed their taxes yet, then they may not have a tax year showing this level of income... 

 

Plus, the concern is that many individuals are not comfortable turning tax transcripts over to for profit private corporations just to obtain a credit card.

 

 I personally feel it a backdoor way back into more data mining and sharing.  The big banks are already talking about sharing deposit info with other big banks as another means of determining whether or not to approve for a credit card.  This is taking it to the next level.

 

I can understand for a huge loan such as a mortgage.  But to be able to get some extra points for going out to dinner, count me out.

Started Over Again after Cap1 Death Penalty:
06/15/2019:
03/02/2021:
04/06/2021:
05/28/2021:
Lesson Learned: DON'T POKE THE BEAR!!! THE BEAR WILL WIN!!!
Message 9 of 13
Remedios
Credit Mentor

Re: Request for help: I was asked to provide a 4506 form, can I cancel this application?


@Anonymous wrote:

My credit score is EX 742, EQ 728.

Credit history is 14 months.

I am a self-employed professional and I haven't filed my taxes yet.

But I have a Capital one secured card, a Citi diamond preferred card,the Bank of America checking account and  the Capital one checking account.

 

 


If this is your first time filing, Amex will need to wait since any application at this time will result in the same request.

You might want to pull your Clarity report and see if Amex made a pit stop there.

Also, there are multiple products/services available to lenders when they attempt to do independent-from-consumer IV, and it's possible they were unable to obtain any information on you, necessitating the need for tax returns. 

Your history is on a short side, so they really don't have much to go by. 

 

As far as cancelling it, the account is not opened yet, so it will not report. 

You don't need to do anything, Amex will deny account opening at the end of time span you were given to complete their request. 

Message 10 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.