Amex requested my bank statement to approve my application.

[Anonymous]

---

@Open123 wrote:

---

@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.

---

Right, but that's also partly because you have options with other issuers.  If they all did that, we would get used to it as being part of the process.  (and there would be a lot less churning!)

[Open123]

---

@Anonymous wrote:

Right, but that's also partly because you have options with other issuers.  If they all did that, we would get used to it as being part of the process.  (and there would be a lot less churning!)

---

At least in America, there should always be enough competition for some Issuers to waive this onerous requirement to increase their market share.  From perspective, any Issuer who even wants to interview me, let alone requiring proof of income or tax returns, better have a best in class rewards system I find irreplaceable.

Again, requesting proof for a $5K or $10K line is so absurdly obscene, I can't even imagine anyone taking such a request seriously.

[Ups77]

Unfortunately being self employed banks requests proof of income regularly. 

[mitchblue]

Not like it hasn't been said but you have two options..

1. Want card, send info.

2. Could careless about card, don't send info.

/end thread.

[bz386]

I really don't understand why people are surprised. The bank is giving out an unsecured loan. The only thing they know about you is what you told them plus what the CRA knows about you. If your credit file is too young, then they only know what you told them. So, you are asking them to just blindly give you an unsecured credit line without knowing anything about you?

I was in a similar situation two years ago. I arrived in the US end of January and tried to open an Amex in May. No credit score was generated up to that point for me. Amex asked for proof of income. I sent them my W-2 and the card was opened with an $8k CL the next day.

[NRB525]

---

@mitchblue wrote:

Not like it hasn't been said but you have two options..

1. Want card, send info.

2. Could careless about card, don't send info.

/end thread.

---

3. Wait for credit file to report.

[CreditCuriosity]

---

@NRB525 wrote:

---

@mitchblue wrote:

Not like it hasn't been said but you have two options..

1. Want card, send info.

2. Could careless about card, don't send info.

/end thread.

---

3. Wait for credit file to report.

---

Even if OP op's for 3, if he now refuses to turn the stuff in, next time he App's, me thinks he will still be asked for the information in the future since he might not want to furnish it now..  I would be curious if I was Amex and request it again.. Only bank statements.. They gave option of bank statements or Tax forms, pretty dang simple to supply bank statements.  I personally wish all CC's asked for proof of income by some means, not necessarily Tax forms either W-2's or bank statements... I think we would all get better interest rates as a result.. Just my take, obviously many will disagree