To those that receive a 4506-C from Discover. READ THIS

[acar3044]

I'll try to sum up quickly my experience with the 4506-C request I received from Discover.

I am self-employed. However, because of the pandemic I was forced to shut down for all of 2020 and until recently I re-opened my business. I applied for the Discover Miles CC and was approved for a $2k Limit. My income I reported was $65K but this is estimated income for what I will make this year. About 2 days later I receive a request to submit a 4506-C within the next 5 days. I was reluctant at first because my income for 2020 was all from unemployment and I only made 25k that year. I called and explained to them the situation, and the kind lady informed me that the request isn't to actually verify income, but to verify that the information from the IRS matches what you put on your application. Since I had nothing to lose, I said what the heck, submitted the form, and 5 days later the lift had been removed successfully! Granted, YMMV, but after being approved after putting 65k on the application with only 25k income from unemployment from 2020, I would say do not be afraid to submit the form. My 2 cents!

[micvite]

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@acar3044 wrote:

I'll try to sum up quickly my experience with the 4506-C request I received from Discover.

I am self-employed. However, because of the pandemic I was forced to shut down for all of 2020 and until recently I re-opened my business. I applied for the Discover Miles CC and was approved for a $2k Limit. My income I reported was $65K but this is estimated income for what I will make this year. About 2 days later I receive a request to submit a 4506-C within the next 5 days. I was reluctant at first because my income for 2020 was all from unemployment and I only made 25k that year. I called and explained to them the situation, and the kind lady informed me that the request isn't to actually verify income, but to verify that the information from the IRS matches what you put on your application. Since I had nothing to lose, I said what the heck, submitted the form, and 5 days later the lift had been removed successfully! Granted, YMMV, but after being approved after putting 65k on the application with only 25k income from unemployment from 2020, I would say do not be afraid to submit the form. My 2 cents!

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for most it's not the income theyre afraid doesnt match, they just feel it's an invasion of privacy, they just dont wanna do it for reasons. Like... I can buy a 60k car without them asking me for income but a 10k cc they want access to get any info they want from the irs? that's how people look at it... Also some have had issues with amex and even discover where income was different and they closed all the accounts for no good reason other than that.

[acar3044]

No, I completely agree that it's ridiculous. But i'll be honest, I think Discover started doing this because way too many people burnt them. (including me). This is Discover's way of protecting their finances. I don't think it's right cause the IRS literally has all personal information of someone, but i'm sure if people were afraid because of income discrepancies such as mine, well at least they have a story now of someone approved based solely on Unemployment Income and a difference in the IRS and what I put on the application. #helpingmycommunity

[coldfusion]

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@micvite wrote:

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@acar3044 wrote:

I'll try to sum up quickly my experience with the 4506-C request I received from Discover.

I am self-employed. However, because of the pandemic I was forced to shut down for all of 2020 and until recently I re-opened my business. I applied for the Discover Miles CC and was approved for a $2k Limit. My income I reported was $65K but this is estimated income for what I will make this year. About 2 days later I receive a request to submit a 4506-C within the next 5 days. I was reluctant at first because my income for 2020 was all from unemployment and I only made 25k that year. I called and explained to them the situation, and the kind lady informed me that the request isn't to actually verify income, but to verify that the information from the IRS matches what you put on your application. Since I had nothing to lose, I said what the heck, submitted the form, and 5 days later the lift had been removed successfully! Granted, YMMV, but after being approved after putting 65k on the application with only 25k income from unemployment from 2020, I would say do not be afraid to submit the form. My 2 cents!

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for most it's not the income theyre afraid doesnt match, they just feel it's an invasion of privacy, they just dont wanna do it for reasons. Like... I can buy a 60k car without them asking me for income but a 10k cc they want access to get any info they want from the irs? that's how people look at it... Also some have had issues with amex and even discover where income was different and they closed all the accounts for no good reason other than that.

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