4506-T form? American Express is requiring it!

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cyanchan15
 
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4506-T form? American Express is requiring it!

Postby cyanchan15 » Tue Jan 31, 2012 10:21 pm

Recently when I applied for a green card (no history with american express), I got a message as below:
Thank you for applying for the Green Card(R). Before we can finish processing your application, we need to verify some information with you.

Please complete the following on the 4506-T form:

Complete lines 1 - 4 as instructed.

  • In line 6, please request tax form "1040" and check the box at the end of line 6a.
  • In line 9, fill in the end date of your most recently filed tax return. Please note that your previous year's tax transcript will not be available from the IRS until August 1st of this year. To ensure prompt processing, please only request the most recent year available. (Ex: 12/31/20XX)
Please sign and date where indicated at the bottom of the page.

If you filed a joint tax return, please ensure that your spouse has also signed the signature block. To ensure timely processing please print clearly.


Please note that you do not need to reveal alimony, child support or separate maintenance if you do not want this considered in this application.


OR

If you are employed and you have not filed an income tax return in the past year, please provide us with your most recent pay stub. You can either fax this information to 1-801-945-2884 or mail this information to our address noted above.

OR

If you are not employed, please provide us with your most recent asset statement or bank statement. You can either fax this information to 1-801-945-2884 or mail this information to our address noted above.

I wonder, seeing this message, whether or not I can be get approved by them. And if I chose to send them my bank statement, is an online statement good or not?

thank you guys ^ ^


momoneyg08
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Postby momoneyg08 » Wed Feb 01, 2012 4:50 am

how much did you put for your income, this sounds as if they want to verify your income with the tax form. Or it could be you are on the cusp of getting the card, they just need the form to determine whether you are 'credit worthy' or not. Is this your first credit card?

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Wed Feb 01, 2012 1:06 pm

There could be a lot of reasons why they are asking to verify your income. Most likely they want to make sure you current expenses do not exceed your income. Or you put some ridiculous amount on your income and it caused a red flag. (i.e. 21 y/o who says he makes 1 million a year). I am not aware of an income requirement for a Green card. Let me know what they say.
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ooxs
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Postby ooxs » Wed Feb 15, 2012 7:17 pm

I have this completed and i know folks that were "randomly selected" year after year. If you didn't inflate your income, complete it, but if you think your income might be different from what you indicated, you can always refuse and they will lower your credit limit.

jeffysdad
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Postby jeffysdad » Wed Feb 15, 2012 8:09 pm

If you have a good credit score from a history that is at least several years, I see no reason for them to invade your privacy with a form such as this. I have many credit card options available to me -- as most people do. I would not complete a form like this for Amex or anyone else.
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CC Deville
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Postby CC Deville » Wed Feb 15, 2012 9:33 pm

If you stated that you are a small business owner I have heard of Amex and even Citibank requiring these forms during the application process. If you have nothing to hide, then you have no reason to worry. I would give them the recent paystub as it is February and you may not have filed your taxes yet.

But I agree with others' sentiments that after being a cardholder for many years, a Financial Review would cheese me off big time.

namvet
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Postby namvet » Wed Feb 15, 2012 10:26 pm

The only reason they asked for income verification is that they don't believe the income you reported on your application. IMO forget about Amex for now. You can alway apply again in 6 months showing the salary reduction you just took. I have been with Amex for many years and never had to verify income.

ooxs
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Postby ooxs » Thu Feb 16, 2012 4:48 pm

I was ticked off when i completed this request but i had nothing to hide and as Jeff indicated, you can always say no and go somewhere else. Keep in mind with regards to privacy; the banks have tools in place to see this information but it is probably cheaper with the 4506-T.

You can always request a lower credit limit and refuse

namvet
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Postby namvet » Fri Feb 17, 2012 1:05 pm

ooxs wrote:I was ticked off when i completed this request but i had nothing to hide and as Jeff indicated, you can always say no and go somewhere else. Keep in mind with regards to privacy; the banks have tools in place to see this information but it is probably cheaper with the 4506-T.

You can always request a lower credit limit and refuse


This true. If they ask a question, they know the answer.....ask a woman!

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tntexan72
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Postby tntexan72 » Mon Feb 20, 2012 8:20 pm

It's not unusual for Amex to request a 4506-T form if you are self-employed. If you are not self-employed than it's probably a random request in the computer system.



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