Amex requested my bank statement to approve my application.

[wacdenney]

If you harbor illusions of privacy then you're kidding yourself.  Income verification isn't anything unusual especially for a contractor.  I have been through it several times with different venders for materials in the past. 

The bottom line is if you want the card then send them your info.  If you don't send it you will NOT get the card guaranteed.  If you think anything electronic is private anymore then think again.

[Open123]

---

@wacdenney wrote:

If you harbor illusions of privacy then you're kidding yourself.  Income verification isn't anything unusual especially for a contractor.  I have been through it several times with different venders for materials in the past. 

The bottom line is if you want the card then send them your info.  If you don't send it you will NOT get the card guaranteed.  If you think anything electronic is private anymore then think again.

---

Sure, but there's no need to increase one's risk exposure.  At least, on US Soil, I can sue for a breach, which I can't if it occurs in India.  To take this extra risk, any CC had better be worth it.

[CreditCuriosity]

OP stated he keeps cash.. So most likely he doesn't have much w/regards to bank statement or is avoiding taxes being paid under the table is what I am starting to believe.  Not saying this is the case, but if OP is paid under the table, AMEX probably isn't the card for him...  I guess that brings to question how in the heck are you going to make you CC payments if you "Keep cash" 

[lg8302ch]

If I would ever need to supply proof of income I would be very happy Amex would ask just for bank statements and accept these  because I do not have tax return as I file taxes outside the US.  Why not simply submit the tax returns? I  assume you do file?  I never understand  why this is such a big issue in the US. In Europe you hardy get a credit card without proof of income.

[Open123]

---

@lg8302ch wrote:

If I would ever need to supply proof of income I would be very happy Amex would ask just for bank statements and accept these  because I do not have tax return as I file taxes outside the US.  Why not simply submit the tax returns? I  assume you do file?  I never understand  why this is such a big issue in the US. In Europe you hardy get a credit card without proof of income.

---

In America, at least my generation, we don't like to answer questions, value our privacy, and don't like to be over regluated.  We're very different from Europeans, though this is changing with the new generation.

[Anonymous]

---

@Open123 wrote:

---

@wacdenney wrote:

I've never understood why anyone wouldn't just send them what they asked for.  

---

Well, from my perspective, there are several reasons.  

1.  Privacy - none of theirs or anyone's business.

2.  Increase risk of security breach.

3.  Inconvenience.

If Amex processes information, say, in India where US privacy laws do not apply, there is most assuredly a very good reason not to provide such senstive information for a credit card.

So, the just give them what they ask for makes very little sense to me.  If their CCs aren't that important to the OP, I'd tell them to pound sand.

+1

[NRB525]

---

@Anonymous wrote:

I am a contractor and most of the times getting paid cash (I stated correct income). Amex requested copy of my bank statement or tax form to verify my income. My income is not visible there, so I am not too sure about my next step. My credit is only 4 months old, and they said that these request was made because my FICO score is not generated yet. What happens if I don't comply with their request and re apply in 3 months? Will I automatically get FR request again since I didn't comply these time? 

---

You should ask the AMEX CSR for the filled out IRS form 4506-T which will give them access to your tax return information, probably for 2013 tax year and 2012. Print, Sign and fax that over. With that information, AMEX will be able to get comfortable with your income flow, since you don't have a credit report generating yet.

The alternative is to wait until later in the year, after whatever credit items you have begin to report a payment history, and your credit file generates a FICO score, and they may be fine with that as well.

You don't have to send in your bank statements if you follow one of the two paths above. But you will need to follow one of the three paths to get an AMEX

Good luck!

[lg8302ch]

---

@Open123 wrote:

---

@lg8302ch wrote:

If I would ever need to supply proof of income I would be very happy Amex would ask just for bank statements and accept these  because I do not have tax return as I file taxes outside the US.  Why not simply submit the tax returns? I  assume you do file?  I never understand  why this is such a big issue in the US. In Europe you hardy get a credit card without proof of income.

---

In America, at least my generation, we don't like to answer questions, value our privacy, and don't like to be over regluated.  We're very different from Europeans, though this is changing with the new generation.

---

Tja...but in the US the CRAs keep so much info that is definitely never kept in other parts of the world. You provide income and get credit but then if you have no baddies your file remains empty.  Many would have a problem here with the type of info the CRAs are keeping ....so I guess you get used to what is mandatory and anything extra is annoying for some and others do not mind because they have seen worse..lol. For me it is still worse that every single move on my credit behaviour is registered in the US and I prefer to provide my income for an app and then left alone as long as I do not generate baddies.

[Anonymous]

---

@lg8302ch wrote:

---

@Open123 wrote:

---

@lg8302ch wrote:

If I would ever need to supply proof of income I would be very happy Amex would ask just for bank statements and accept these  because I do not have tax return as I file taxes outside the US.  Why not simply submit the tax returns? I  assume you do file?  I never understand  why this is such a big issue in the US. In Europe you hardy get a credit card without proof of income.

---

In America, at least my generation, we don't like to answer questions, value our privacy, and don't like to be over regluated.  We're very different from Europeans, though this is changing with the new generation.

---

Tja...but in the US the CRAs keep so much info that is definitely never kept in other parts of the world. You provide income and get credit but then if you have no baddies your file remains empty.  Many would have a problem here with the type of info the CRAs are keeping ....so I guess you get used to what is mandatory and anything extra is annoying for some and others do not mind because they have seen worse..lol. For me it is still worse that every single move on my credit behaviour is registered in the US and I prefer to provide my income for an app and then left alone as long as I do not generate baddies.

---

I think part of the issue is that Amex is still relatively unusual in asking for tax returns (although other issuers do sometimes, but much less so).    

So I have yet to hear, for example "I applied for a mortgage with Wells Fargo, and, can you believe it, they asked for my tax returns!!! " because for mortgages, tax returns are absolutely standard for all but no-documentation loans.  But they are not in the US for credit cards.   And I think it is this unusualness , rather than sentiments like "tax is between me and the Federal government", which isn't invoked for the mortgage case.   And since there is competition that doesn't usually need tax returns, some of us look on Amex's requests with other than blind obedience.

[Open123]

---

@Anonymous wrote:

I think part of the issue is that Amex is still relatively unusual in asking for tax returns (although other issuers do sometimes, but much less so).    

So I have yet to hear, for example "I applied for a mortgage with Wells Fargo, and, can you believe it, they asked for my tax returns!!! " because for mortgages, tax returns are absolutely standard for all but no-documentation loans.  But they are not in the US for credit cards.   And I think it is this unusualness , rather than sentiments like "tax is between me and the Federal government", which isn't invoked for the mortgage case.   And since there is competition that doesn't usually need tax returns, some of us look on Amex's requests with other than blind obedience.

---

Personally, I find the prospects of having to prove income or provide tax returns for the average $5K - $10K CL obscene.  Now, $50K or $100K, I can understand a higher level of scrutiny, but for anything under $10K?  I'd hang up the phone if any issuer ever requested proof for a $10K CL.