Random Discover 4506-C Request

[GZG]

---

---

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Discover-Approval/td-p/6622206

@Santaclausthereal recently reported passing a 4506-C as a non-filer. 

[Jeffster1]

5 years one month after IIB Amex, I applied for an Amex Gold. They asked for a 4506-T. Aside from a frustrating experience trying to get my 4506-T recognized by Amex's offshore processing offices, it was a small price to pay to get back in the door with Amex. They have been really good to me ever since. Thank you, Amex, for not just slamming the door in my face. 

Im not interested in Discover at all, but if I were interested, I'd gladly comply. 

[red259]

---

@Jnbmom wrote:

---

@Kforce wrote:

---

@Horseshoez wrote:

To kind of dovetail on what @Kforce said, if I any of my credit card issuers hit me with a 4506-C request, the only response they'd get from me is my card(s), cut in half, back in the mail.  There are plenty of credit card issuers out there, Discover is nothing special and it is time for them to learn that.

---

^^^^ This

However I also believe you and I are not the norm.

---

I am also in this group no way in heck I am giving any credit card my consent for my taxes . If or when this may happen I will move on from them and not look back .

But there are others that don't mind obliging and that's fine too.

---

Yep, I tried to get a BoA business card and they started demanding tax returns etc and I was just like screw that I don't care about your card enough to jump through all those hoops. I could understand if someone had no credit history, but for people who are well established with multiple other options I don't see it being worth the hassle in most cases, especially after ten years of being a customer in I assume what is good standing. To each their own. 

[Bill77]

I would just close my account.  Discover charges 20%+ interest on cards but wants to underwrite them like a mortgage.  

[Jeffster1]

I had a Discover for many years prior to my 13. 

Once was enough for me. Never missed a payment, though, and paid back 100 percent. Still I would not apply again for other reasons.

[FinStar]

---

@Bill77 wrote:

I would just close my account.  Discover charges 20%+ interest on cards but wants to underwrite them like a mortgage.  

---

Discover has also been reported to be a flexible lender that allows yearly APR reductions on eligible accounts. Several threads from members who have done so over the years. Some APRs were reportedly in single digit territory (mine was) before the recent Fed interest rate hikes. So, not all accountholders are approved in 20%+ APRs from the get-go. Creditworthy profiles can get approved for their current advertised (15.74%).

Also, Discover isn't the only one that can request a 4506-C or tax docs/POI (although more frequent than the others). American Express, Citi, Capital One, Barclays, BoA, FNBO, etc., have been reported to do so as well. A mortgage is secured by the dwelling, a credit card is unsecured.

[marmoset]

I would be ok with it myself or for my wife.  But only because our tax transcript is awesome.  We would be like, "there! you happy? now gimme! gimme! gimme!"

[crystal626]

I am expecting this request from them and I'll comply. Just opened a second one and 10% is quite valuable since Disco categories usually fit my spend 2-3 quarters of the year. 

They also gave me the lowest 15.74% and my other card they'll give me 0% every so often when I ask which comes in handy. 

[Bill77]

---

@FinStar wrote:

---

@Bill77 wrote:

I would just close my account.  Discover charges 20%+ interest on cards but wants to underwrite them like a mortgage.  

---

Discover has also been reported to be a flexible lender that allows yearly APR reductions on eligible accounts. Several threads from members who have done so over the years. Some APRs were reportedly in single digit territory (mine was) before the recent Fed interest rate hikes. So, not all accountholders are approved in 20%+ APRs from the get-go. Creditworthy profiles can get approved for their current advertised (15.74%).

Also, Discover isn't the only one that can request a 4506-C or tax docs/POI (although more frequent than the others). American Express, Citi, Capital One, Barclays, BoA, FNBO, etc., have been reported to do so as well. A mortgage is secured by the dwelling, a credit card is unsecured.

---

I refuse to reward bad behavior.  I'm not that desperate for a 15.74% interest rate either.  Would never do this for any card company and it's a very rare occurrence that most other card companies would request this.

[OmarGB9]

---

@Bill77 wrote:

---

@FinStar wrote:

---

@Bill77 wrote:

I would just close my account.  Discover charges 20%+ interest on cards but wants to underwrite them like a mortgage.  

---

Discover has also been reported to be a flexible lender that allows yearly APR reductions on eligible accounts. Several threads from members who have done so over the years. Some APRs were reportedly in single digit territory (mine was) before the recent Fed interest rate hikes. So, not all accountholders are approved in 20%+ APRs from the get-go. Creditworthy profiles can get approved for their current advertised (15.74%).

Also, Discover isn't the only one that can request a 4506-C or tax docs/POI (although more frequent than the others). American Express, Citi, Capital One, Barclays, BoA, FNBO, etc., have been reported to do so as well. A mortgage is secured by the dwelling, a credit card is unsecured.

---

I refuse to reward bad behavior.  I'm not that desperate for a 15.74% interest rate either.  Would never do this for any card company and it's a very rare occurrence that most other card companies would request this.

---

"Bad behavior?" It's literally just risk mitigation. Also, calling 15.74% "desperate" is a bit much. I'm sure the many people paying 36+% interest would love the chance at paying 15.74%.

Also, if one PIF (as I presume you most likely do), what does the interest rate matter?