Possible 4056T Coming my way

[CreditCuriosity]

Just my honest opinion about proof of income.. I believe more lenders SHOULD before extending any credit ask for proof of income whether it is pay stub or 4506's, etc.  This would avoid situations like this.  I personally have nothing to hide about income and if it was a lender I cared about I would provide them the information they requested as I have nothing to hide.  Others state it is intrusive, etc.. I guess anything a lender is willing to extend credit without any collateral they have the ball in their court and can do as they wish as you can do as you wish and not provide the information and end the relationship..

[Loquat]

OP, how long have you had these cards?  

[CreditInspired]

I understand a CC issuer's request for paystubs, 1099, or a W2 and would gladly provide it in a nano heartbeat. But what I don't understand is the request for a 4506-T. Why is it necessary for the issuer to be all up in my business?

Good luck OP on whichever way you decide to go.

[AverageJoesCredit]

CC's point is valid. I have no problem if i had to provide POI before i got my card as perhaps the lender wanted to make sure i met their criteria. That would be good homework, ynlike when they approve someone then a week later decide nope, gonna close you down for some ridiculous excuse or for not taking the time to do their homework.

Anyhoo, i think the key here with Sync and their blue envelope is where your info goes and with whom it ends up, Lexus Nexus. NOPE, not for me . I enjoy the limits Synchrony affords us, will not lie but for this very reason i am keeping my accounts PIF and or near 0 so that if they want to freeze me or send me the Pappa Smurf, im out like Sunday Note, even if you abide by the 4506, not a gaurentee that theyll reopen your accounts.

[azfitz11]

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@Loquat wrote:

OP, how long have you had these cards?  

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Most of them just a year. I jst got the Marvel Card 4 or 5 days ago

[Anonymous]

Have you been on any app sprees lately, OP?

[azfitz11]

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@CreditInspired wrote:
I understand a CC issuer's request for paystubs, 1099, or a W2 and would gladly provide it in a nano heartbeat. But what I don't understand is the request for a 4506-T. Why is it necessary for the issuer to be all up in my business?

Good luck OP on whichever way you decide to go.

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I'm with you, I would give them W2s, paystubs, 1099, or a **bleep** piss test if they asked! But the freezing of my accounts and asking for a 4506T, kiss myass Synchrony!!!

[azfitz11]

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@beautifulblaquepearl wrote:
Have you been on any app sprees lately, OP?

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LOL! Yes! You think that's what triggered it? 

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[grillandwinemaster]

I have nothing to hide from Synch or any other creditor, but I have two issues with the 4506-T

1- I'm completely self employed, so my tax returns don't reflect my true annual income putting me at a GREAT disadvantage. ( This is done completely legal-with all the write offs afforded to self employed individuals.) If some wet behind the ears CSR got a hold of my returns, they would shut me down in a second when they saw my AGI vs my stated income! 

2- It's a credit card, not a mortgage! Payment history And overall credit history should be enough for the bank, in this case Synch to make an educated decision as to whether or not they want to do business with me, AND at what exposure. 

Ultimately in my case, it's not about having anything to hide, or a lack of transparency on my part, I simply enjoy my privacy.  It's an "at-will" relationship. If you see something in me that you don't like, end the relationship. I'm even ok with the old, "It's not you, It's me," line! 

Best wishes to all, and OP with whatever you decide to do! 

[UncleB]

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@azfitz11 wrote:

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@beautifulblaquepearl wrote:
Have you been on any app sprees lately, OP?

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LOL! Yes! You think that's what triggered it? 

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While nobody can say for certain, it might have put you "on the radar". 

If you haven't already, you might want to check out this thread: http://ficoforums.myfico.com/t5/Credit-Cards/What-the-heck-is-going-on-with-Synchrony/td-p/4669682