grifenhagen wrote:And yes they asked for me to sign the 4056 t. Based on the light research I've conducted, I don't neccessarily believe they should have the right to request that... I think that's sort of an invasion of privacy. Deny me or start me off with a low CL and then see if I am going to be a reliable customer (which I obviously am).
I have read some stories of people personally writing a letter to amex. I may do that tomorrow to explain all of this. If I do, I'll probably send 5 separate copies to make sure someone reads one.
They certainly have the right to ask for documents to determine credit worthiness. It's the same if you were to ask me to borrow money every month, and have you pay me back either in full or in installments. It's my money, and it's within my right to ask you to prove to me in a way that I am most comfortable. It's the same in reverse too. It's your right to refuse to share this information, and if that is the case, we can both agree to not deal.
If you feel this is a TRUE invasion of your privacy, then state it with them and let them know you'd like to rescind your application. There are many valid reasons not to share your tax information. You could even offer to provide other information to prove you have access to the type of funding you require to pay off your monthly debt, and if they respond with a no, then so be it.
If credit score if your primary concern, then don't worry about losing the BCE. Start small with a Cap One, Discover IT or any of the secured cards and ease your way in. You might feel like you're leaving a lot of rewards on the table, and you probably are to some extent. But if building up credit is your primary concern, you could wait a couple years. Those rewards only add up to a few hundred dollars anyways (and only in the first year), and given your income, it's really not a huge deal. Maybe good enough for a small gift for yourself here and there, but nothing you can't afford to buy on your own if you really want it. So take it easy and good luck