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BCP CLI Approved for less after 4506T request

deal512
New Visitor

BCP CLI Approved for less after 4506T request

I have a $20K BCP (Now $25K) and a $10K ED.

 

Decided to request an increase today on my BCP.

 

Requested an increase to $45K on my BCP and received the 4506T request.

Immediately cancelled, and requested an increase from $20K to $30K. Received another 4506T request.

Immediately cancelled, and requested an increase from $20K to $25K. This was instantly approved.

 

Message 1 of 13
12 REPLIES 12
gdale6
Moderator

Re: BCP CLI Approved for less after 4506T request

Welcome to the board and grats on your CLI Smiley Happy

I have created your own approval thread on this, changed the title and left everything else intact.
Message 2 of 13
awp317
Frequent Contributor

Re: BCP CLI Approved for less after 4506T request

I have to ask, why is everybody so concerned about the 4056-t request? I had to do this and didn't see an issue with it, now AMEX doesn't question me anymore. In fact the 28th is the 2-year anniversary of my last CLI on my optima card. I'm going to go full hog and ask for 74k and see what happens. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 3 of 13
jawshoeuh
Regular Contributor

Re: BCP CLI Approved for less after 4506T request

I would assume people don't want to send in transcripts because they are telling AMEX they make $75k/yr, in reality they are making $60k/yr and don't want (insert creditor here) to realize what their real income is.  Same reason a mortgage requires W2s, tax returns, paystubs, and 4506s.


Green thumb since 11/12/2017
Message 4 of 13
Gmood1
Community Leader
Super Contributor

Re: BCP CLI Approved for less after 4506T request

I assume he or she doesn't find it necessary to release tax returns for a CC. I certainly wouldn't.
Message 5 of 13
UncleB
Moderator

Re: BCP CLI Approved for less after 4506T request


@jawshoeuh wrote:

I would assume people don't want to send in transcripts because they are telling AMEX they make $75k/yr, in reality they are making $60k/yr and don't want (insert creditor here) to realize what their real income is.  Same reason a mortgage requires W2s, tax returns, paystubs, and 4506s.


For many people it's not that they misrepresented their income, it's that they don't care to provide Amex with their itemized deductions (including medical expenses) spouse's social security number (if applicable) as well as their children's social security numbers (again, if applicable)... and that's just the tip of the iceberg - the 4506-T includes this and more.

 

Honestly if I had a spouse, I would have a real issue with my information being provided to a lender I had no business relationship with, and I certainly would have issues with my children's information being provided.  It's one thing if a cardholder's information is lost/leaked/compromised - there's protection for that - but I have no idea what the "rules" are if a non-cardholder's information is compromised.

 

It's something everyone has to work out for themselves, though... while many find the process much too intrusive, some are perfectly fine with it, and that's their prerogative.

 

Back on point... OP, congrats on the non-4506-T American Express CLI!  Smiley Very Happy

Message 6 of 13
Super_AL
Valued Contributor

Re: BCP CLI Approved for less after 4506T request


@deal512 wrote:

I have a $20K BCP (Now $25K) and a $10K ED.

 

Decided to request an increase today on my BCP.

 

Requested an increase to $45K on my BCP and received the 4506T request.

Immediately cancelled, and requested an increase from $20K to $30K. Received another 4506T request.

Immediately cancelled, and requested an increase from $20K to $25K. This was instantly approved.

 


Congratulations to you!...Thanks for sharing.Smiley LOL

Smiley Happy (BANK OF AMERiCA CA$H REWARD$ ViSA SiGNATURE) (CHASE AMAZON ViSA SiGNATURE) (CAPiTAL ONE QUiCKSiLVER ViSA SiGNATURE) (CiTi DOUBLE CA$H WORLD MASTERCARD) (BARCLAYCARD UPROMiSE WORLD MASTERCARD) (SYNCHRONY MARVEL MASTERCARD) (AMERiCAN EXPRESS BLUE CA$H EVERYDAY) (DiSCOVER iT NHL)
Message 7 of 13
mimsof4
Established Contributor

Re: BCP CLI Approved for less after 4506T request

Congrats!  I have no intention of releasing our tax return and not because of income.  I put our actual income in.  I refuse to release any family information, deduction info etc.  In addition, there is some very informative posts about third parties being involved in the collection of this data and how that information is shared.  I will not allow that to happen if I can prevent it.

 

While I find it interesting, and even fun, to see how high my tradelines will grow, I don't live beyond my means or need a fraction of my credit.

Nov 2014 Starting credit score TU 598; EQ 602; Ex 614; Sept 2020 TU 779; EQ 783; EX 781
Discover $32k/Citi $10k/Amex $35k/Wayfair $14k/Chase Freedom $13k/NFCU $15k/Amazon $7.5k/sewing & more Synch $11k/Lowes $12k
Message 8 of 13
sccredit
Valued Contributor

Re: BCP CLI Approved for less after 4506T request


@jawshoeuh wrote:

I would assume people don't want to send in transcripts because they are telling AMEX they make $75k/yr, in reality they are making $60k/yr and don't want (insert creditor here) to realize what their real income is.  Same reason a mortgage requires W2s, tax returns, paystubs, and 4506s.


I think that would be a rather foolish and naive assumption.

Ch 7 Discharge 3/12/2018
Cap One VentureOne $3,500, CapOne Savor $5,300, Kohls $3,000, BBVA $2,500
Infiniti Financial Lease
Goal: New Mortgage 3/2022
Message 9 of 13
Mia25
Senior Contributor

Re: BCP CLI Approved for less after 4506T request


@deal512 wrote:

I have a $20K BCP (Now $25K) and a $10K ED.

 

Decided to request an increase today on my BCP.

 

Requested an increase to $45K on my BCP and received the 4506T request.

Immediately cancelled, and requested an increase from $20K to $30K. Received another 4506T request.

Immediately cancelled, and requested an increase from $20K to $25K. This was instantly approved.

 


Very nice CLI approval, congrats and welcome to the forum Smiley Wink

Message 10 of 13
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