AMEX 4506-T

[Harvey26]

I recived a call about this form and so I filled it out and sit it in twice and the gentleman I spoke with told me that was the maximum amount of times you could do it. Oh well. Just curious as too how it will affect my credit since they will be closing them out. I have a 3k balance on the EDP with a 6K limit and a 5.8K balance on the BCP with a 10K limit. Just want to know if this will negatively impact my credit for the future or will it just show as a closed card with a balance.

[Anonymous]

I believe it will show closed with a balance, but does the utilization go to 100% if the card is closed with a balance? I may be wrong on that one though. Did something trigger the review?

[Harvey26]

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@Anonymous wrote:

I believe it will show closed with a balance, but does the utilization go to 100% if the card is closed with a balance? I may be wrong on that one though. Did something trigger the review?

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Have no clue I have not used the cards since Jan. but paying at least $500 plus towards them a month. 

[yfan]

Why are they closing out your accounts? Did Amex actually get your 4506-T form? Did they obtain your tax returns?

[Harvey26]

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@yfan wrote:

Why are they closing out your accounts? Did Amex actually get your 4506-T form? Did they obtain your tax returns?

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Because first i forgot to fill in certain sections and this time they said my hand writing was not legiable, so at this point I am kind of over it to be honest.

[DeeBee78]

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@Harvey26 wrote:

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@Anonymous wrote:

I believe it will show closed with a balance, but does the utilization go to 100% if the card is closed with a balance? I may be wrong on that one though. Did something trigger the review?

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Have no clue I have not used the cards since Jan. but paying at least $500 plus towards them a month. 

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Did you ask for a 3X CLI on the BCP ($30,000) and trigger the 4506-T request? 

[austinguy907]

Harvey.... didn't you just get these recently?  I can't recall but, anyway I have some tools for you if you got a reference number from them to submit the 4506.

http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/td-p/4802617

https://www.irs.gov/pub/irs-pdf/f4506t.pdf  - just fill out page 2 and print to PDF only page 2 and then you can submit online and handwriting shouldn't be an issue...well maybe your signature.... make sure you fill in the top, 2 years ending 12/31/2015 and 12/31/2014 since 2016 won't be available until august, hit the checkbox before the signature, and e-sign if you have an app or print it and sign it and take a pic to submit electronically.

[Harvey26]

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@DeeBee78 wrote:

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@Harvey26 wrote:

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@Anonymous wrote:

I believe it will show closed with a balance, but does the utilization go to 100% if the card is closed with a balance? I may be wrong on that one though. Did something trigger the review?

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Have no clue I have not used the cards since Jan. but paying at least $500 plus towards them a month. 

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Did you ask for a 3X CLI on the BCP ($30,000) and trigger the 4506-T request? 

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Nope only did BT to the card and thats it 

[Harvey26]

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@austinguy907 wrote:

Harvey.... didn't you just get these recently?  I can't recall but, anyway I have some tools for you if you got a reference number from them to submit the 4506.

http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-helpful-links/td-p/4802617

https://www.irs.gov/pub/irs-pdf/f4506t.pdf  - just fill out page 2 and print to PDF only page 2 and then you can submit online and handwriting shouldn't be an issue...well maybe your signature.... make sure you fill in the top, 2 years ending 12/31/2015 and 12/31/2014 since 2016 won't be available until august, hit the checkbox before the signature, and e-sign if you have an app or print it and sign it and take a pic to submit electronically.

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Yes I did just get them.

[austinguy907]

Probably just too fast, too soon.  Ramping  up that kind of balance spooked them into doing a review.  It's the computer to blame though since that's what flagged it.  

I highly doubt there's a 2 time limit since I did several of them and apparently was missing something on each submission in 2015.  5 times to be exact.  I would just get the USD number for the issue and do the electronic one online. If everything is on the up and up and you get this out of the way the sky is the limit for the CL.