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Discover 4506-T @ random

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Contributor

Discover 4506-T @ random

I haven't requested a CLI in a long time.  Just wanted to note on the board that I was randomly hit with a 4506-T request from Discover.

 

I hope they don't mind the slight difference in my reported income I gave them, as I get my raises in the middle of the year, not the start.  So of course it won't 100% match what they have on file.  My current salary is easily 10% higher than it was on my last years taxes due to a raise and bonus.

Alliant Platinum Visa $10,000
AMEX Blue Cash Everyday $1,000
AMEX EveryDay $2,000
BECU Visa $12,500
CapitalOne BuyPower $1,250
CapitalOne QS $7,950
Chartway Federal Credit Union Visa Rewards $20,400
Chase Amazon Prime Rewards $1,000
Chase Disney Rewards $2,500
Citi Double Cash $3,600
Comenity Bank/Arhaus $11,000
Comenity Bank/RH $14,000
Discover Miles $24,000
Jax Fed Platinum Visa $15,000
Langley Cash Back Visa $15,000
Nordstrom Visa $7,500
PenFed Power Cash $4,500
Syncb/Amazon Store Card $6,000
Syncb/Google Store Card $2,200
Syncb/PayPal Cash Back $8,000
Syncb/Walmart Credit Card $500
Target MasterCard $800
Vystar Platinum Visa $10,000
Total revolving credit $180,700

FICO 8: Equifax 736 | Experian 729 | TransUnion 739
Message 1 of 50
49 REPLIES 49
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Moderator

Re: Discover 4506-T @ random

If its only a few thousand i wouldnt worry if it is 10-20k difference then who knows that is a whole different story and a big difference.  Alot of card issuers use 3rd party solutions to either see your income or get an idea of your income and if it is a big outlier then these requests can happen although havent heard of discover really doing them.  Lenders evolve with time whether it is higher than normal losses or economical changes, etc.  

 

Offer them last year taxes along with current pay stubs and see if they are willing to look at both as you mentioned 10% and that isnt a normal raise persay unless you switched jobs, etc. that is kinda an outlier raise for most of the population

Message 2 of 50
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Contributor

Re: Discover 4506-T @ random

My bonuses come mid year and can easily be several thousand dollars.  I'm technically eligible for a bonus equal to 10% of my salary (six figure salary).  So it can fluxuate year to year.  I guess if they come back angry I can offer to give them my recent pay stubs, up to and euqal to my last bonus check.  

Alliant Platinum Visa $10,000
AMEX Blue Cash Everyday $1,000
AMEX EveryDay $2,000
BECU Visa $12,500
CapitalOne BuyPower $1,250
CapitalOne QS $7,950
Chartway Federal Credit Union Visa Rewards $20,400
Chase Amazon Prime Rewards $1,000
Chase Disney Rewards $2,500
Citi Double Cash $3,600
Comenity Bank/Arhaus $11,000
Comenity Bank/RH $14,000
Discover Miles $24,000
Jax Fed Platinum Visa $15,000
Langley Cash Back Visa $15,000
Nordstrom Visa $7,500
PenFed Power Cash $4,500
Syncb/Amazon Store Card $6,000
Syncb/Google Store Card $2,200
Syncb/PayPal Cash Back $8,000
Syncb/Walmart Credit Card $500
Target MasterCard $800
Vystar Platinum Visa $10,000
Total revolving credit $180,700

FICO 8: Equifax 736 | Experian 729 | TransUnion 739
Message 3 of 50
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Moderator

Re: Discover 4506-T @ random

My bonuses are typically 10% of my income per year as well give or take a few percent I also earn 6 figure income, but lets just say for arguement sake i make 150k last year and i got a 10% bonus so 15k bonus that would be a 165k income for the year.  Lets say this year I got a 3% raise my income 154k base and bonus at 10% would be 15450 making total compensation be 169,900.  So a net difference of 4,900 between last year and this year.  This is normal as a percentage for most people and wouldnt cause them to raise and eyebrow in my opinion

 

Sounds like your scenario might of been a bigger discrepancy for some reason than the one i mentioned above?  If so just can offer them what you have and let it play out.

 

Alot of people with very large discover credit limits really don't have high incomes meaning discover isnt really income sensitive.  for example i have seen many people that make approx 50k having 20-30k discover CL's.  With your exposure with them if your signature is correct is fine for what discover is willing to give as percent of income.

 

Best of luck. Ss long as your were honest then that is what is important and let the rest play out as it might

Message 4 of 50
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Contributor

Re: Discover 4506-T @ random

Never heard of DFS FR someone, thanks for noting it and good luck!

 

btw. Just curious about the following:

0. Did they lock the card so you can't put more charges on it now?

1. Did they say what might happen if you do not comply? Closing account?

2. How old is the account and how long has it been at current 24k CL?

3. Any 'abnormal' changes on your account (much larger than typical spending, payment, balance, etc)?

4. Any other profile changes (such as new accounts, closed accounts, large FICO score changes, large balance changes, etc)?

 

 

Message 5 of 50
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Community Leader
Senior Contributor

Re: Discover 4506-T @ random

Wow this is the first I have seen this with discover? 

 

I hope all goes well 

EXP 758 TU 783 EQ 729
Message 6 of 50
Community Leader
Super Contributor

Re: Discover 4506-T @ random


@Sasuke wrote:

I haven't requested a CLI in a long time.  Just wanted to note on the board that I was randomly hit with a 4506-T request from Discover.

 

I hope they don't mind the slight difference in my reported income I gave them, as I get my raises in the middle of the year, not the start.  So of course it won't 100% match what they have on file.  My current salary is easily 10% higher than it was on my last years taxes due to a raise and bonus.


Wow, this seems to be a first on the forum. I will certainly be watching to learn of the outcome. 

 

Since Discover is your highest credit line, I wonder if Disco got spooked that they are the highest one. You have quite an impressive lineup and I was kind of surprised your scores weren’t higher. Do you mind telling us your UT, AoYA, and # of inqs in last 6/12 months. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 7 of 50
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Contributor

Re: Discover 4506-T @ random

Yes, they did lock it.  They told me if I didn't comply they would close the account.  The account is approx. 2 years old.  The balance went up a few grand, but I certainly didn't max it out.  I bought a car earlier in the year.  That's about $30K worth of new debt.  No new accounts.  I have no need or desire for anymore credit.  

Alliant Platinum Visa $10,000
AMEX Blue Cash Everyday $1,000
AMEX EveryDay $2,000
BECU Visa $12,500
CapitalOne BuyPower $1,250
CapitalOne QS $7,950
Chartway Federal Credit Union Visa Rewards $20,400
Chase Amazon Prime Rewards $1,000
Chase Disney Rewards $2,500
Citi Double Cash $3,600
Comenity Bank/Arhaus $11,000
Comenity Bank/RH $14,000
Discover Miles $24,000
Jax Fed Platinum Visa $15,000
Langley Cash Back Visa $15,000
Nordstrom Visa $7,500
PenFed Power Cash $4,500
Syncb/Amazon Store Card $6,000
Syncb/Google Store Card $2,200
Syncb/PayPal Cash Back $8,000
Syncb/Walmart Credit Card $500
Target MasterCard $800
Vystar Platinum Visa $10,000
Total revolving credit $180,700

FICO 8: Equifax 736 | Experian 729 | TransUnion 739
Message 8 of 50
Highlighted
Contributor

Re: Discover 4506-T @ random

My overall UTIL is 18%.  I haven't opened any new accounts in the last year other than my new car.  I haven't even requested any CLIs since then.  I mean my inquiries are LoL/24 from over a year ago.  Nothing new in the last 6 months at all.

Alliant Platinum Visa $10,000
AMEX Blue Cash Everyday $1,000
AMEX EveryDay $2,000
BECU Visa $12,500
CapitalOne BuyPower $1,250
CapitalOne QS $7,950
Chartway Federal Credit Union Visa Rewards $20,400
Chase Amazon Prime Rewards $1,000
Chase Disney Rewards $2,500
Citi Double Cash $3,600
Comenity Bank/Arhaus $11,000
Comenity Bank/RH $14,000
Discover Miles $24,000
Jax Fed Platinum Visa $15,000
Langley Cash Back Visa $15,000
Nordstrom Visa $7,500
PenFed Power Cash $4,500
Syncb/Amazon Store Card $6,000
Syncb/Google Store Card $2,200
Syncb/PayPal Cash Back $8,000
Syncb/Walmart Credit Card $500
Target MasterCard $800
Vystar Platinum Visa $10,000
Total revolving credit $180,700

FICO 8: Equifax 736 | Experian 729 | TransUnion 739
Message 9 of 50
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Moderator

Re: Discover 4506-T @ random

32.k in CC debt if I understand correctly?  That is considerable if so for say 100k income(just a number as you said six figure income).  Could or couldnt be the reason they want to validate your income so they arent left holding said debt since they are you biggest lender.   Plus your other obligations such as car and house/rent and any other thing impacting DTI

 

Be interesting to see the outcome of this.  Please keep up updated

Message 10 of 50
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