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cv91915

Master Amex 4506-T (Tax Return Verification) for CLI Thread

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Well now you guys make me feel like I should have contacted them on my 'probably lost' request from months ago. I'm okay with it because my HHI increased substantially last year.

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Well now you guys make me feel like I should have contacted them on my 'probably lost' request from months ago.

 

This happened to you also?

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My plan with Amex is to slowly close 3 of my 4 credit cards to reduce my AF spend and reallocate limits to BCP which I'll maintain. It will be interesting to see how closing >20 year old D* tradelines works out for me. I'll also probably downgrade Platinum to PRG or lower.

 

Amex saw my tax returns. They also did a SP and can see no debt other than PIF card activity. I don't charge a lot to amex cards other than specialized rewards. My largest single charge in 2016 was 48k and none of my amex credit cards could have handled it.

 

As an experiment I'm going to have my spouse ask for a 100k limit on her BCP to see if her experience is the same as mine.

 

 

ETA: current DTI (with D including utilities, etc.) is 4%.

 

Amex can Crapflake off

Edited by hegemony

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Well now you guys make me feel like I should have contacted them on my 'probably lost' request from months ago.

 

This happened to you also?

Previous submission was at the beginning of August and never heard a word. If I go weeks without hearing anything this time I'll follow the lead here and contact them to verify where it's stuck.

 

https://creditboards.com/forums/index.php?showtopic=566735&page=2

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I'm going to keep a running list of recent experiences by CB members.

 

Amex Didn't Process (or Required Extensive Follow-Up):

 

hegemony

STC
Big Bear
cv91915 (twice)
Amex Processed Normally (Regardless of Outcome):
CTSoxFan

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CTSF had luck a few months ago. I also had a 'quick' and easy experience with my very first request back in May. cv, were any of your previous requests non-delayed affairs?

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CTSF had luck a few months ago. I also had a 'quick' and easy experience with my very first request back in May. cv, were any of your previous requests non-delayed affairs?

 

I believe one went as planned and the other two were disasters.

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Amex Didn't Process (or Required Extensive Follow-Up):

 

hegemony

STC
Big Bear (one of each)
cv91915 (twice)
Amex Processed Normally (Regardless of Outcome):
CTSoxFan
Big Bear (one of each)

cv91915 (once)

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You should add to your master list of steps that if one is requested, you can ignore and request a smaller CLI. I requested a 3x CLI and was prompted for a 4506-T, ignored it. The very next day I did the same process, requested 2x CLI and was instantly approved.

 

So you can still get CLIs and avoid this altogether, it may be as simple as testing where the current trigger point is by steadily decreasing your request limit.

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You should add to your master list of steps that if one is requested, you can ignore and request a smaller CLI. I requested a 3x CLI and was prompted for a 4506-T, ignored it. The very next day I did the same process, requested 2x CLI and was instantly approved.

 

So you can still get CLIs and avoid this altogether, it may be as simple as testing where the current trigger point is by steadily decreasing your request limit.

 

That's not a bad idea if you aren't comfortable with the 4506 process, but I'd rather have that '1x' or much higher if it's known that the trigger point is right there anyhow.

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So remember how I complained that the form wouldn't populate via Chrome and I had to use IE?

 

Over the weekend I received FOUR Amex letters containing the 4506 forms. Four.

 

Hopefully the electronic copy is on its way to completion and not lost already within the bowels of Amex.

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So remember how I complained that the form wouldn't populate via Chrome and I had to use IE?

 

Over the weekend I received FOUR Amex letters containing the 4506 forms. Four.

 

Hopefully the electronic copy is on its way to completion and not lost already within the bowels of Amex.

 

Another Amex 4506-T disaster. Keep the updates coming.

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11/19/16: Requested 3x CLI on my EveryDay Card. Received the online 4506-T form. The form wouldn't load in Safari on my iMac, so I'll wait for it in the mail.

 

11/25/16: Received the 4506-T form in the mail.

 

 

11/27/16: The letter I received does not contain the mailing address to return the completed form, however it does contain a URL to submit the form electronically. I went to the URL, provided the reference number and a couple of account details. This time there was no COMPUTER GLITCH.

 

Big Bear's screenshots capture the process. I also received the 15-30 day message, which is normal.

 

 

 

12/05/17: No change to my CL. It's still early, but I am checking daily.

Edited by cv91915

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You should add to your master list of steps that if one is requested, you can ignore and request a smaller CLI. I requested a 3x CLI and was prompted for a 4506-T, ignored it. The very next day I did the same process, requested 2x CLI and was instantly approved.

 

So you can still get CLIs and avoid this altogether, it may be as simple as testing where the current trigger point is by steadily decreasing your request limit.

Thanks for the tip. Finally got a request for a 4506t yesterday when asking to go to 42k. My gross income isn't reflected in my IRS return due to my pension plan and heavy deductions on my side business so I didn't want to deal with it.

Went back today and asked to go to 39k instead and was instantly approved

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Nice approval, Lummy! I'm intrigued to see how this will advance for the next request.

Edited by Big Bear

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Nice approval, Lummy! I'm intrigued to see how this will advance for the next request.

me too. I'll try and remember to update this in 6 months

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Is the Amex request for the 4506-T only on Personal Amex or Business as well.

 

 

Sent from my iPhone using Tapatalk

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What happens if you don't provide the tax return for them? Will they reduce your limits?

No, you simply don't get the CLI request.

 

We now have multiple users that have ignored the request and come back the next day and requested, successfully, a smaller CLI.

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What happens if you don't provide the tax return for them? Will they reduce your limits?

 

At some point when you want additional revolving credit with American Express they will request/require tax return verification. Aside from getting a legitimate credit inquiry, getting a 4506-T from Amex in response to a CLI request, while often annoying, is probably the most irrationally feared event discussed on CB.

 

I have gone through this process with Amex three times in the past few years, and twice the process was a complete disaster (multiple delays, lost forms, escalations to supervisors and managers that yielded no results, etc). I've noted other recent anecdotes here that suggest that my experiences are not uncommon. I've even joked that Amex must have outsourced their tax return verifications to the Enneffseeyou membership department, because it's that much of a mess.

 

This thread is to discuss and track current experiences with the Amex tax return verification process. I initiated a 3x CLI request on my EveryDay card this morning and got the 4506-T responses, as I expected. I'll track the process with timelines beginning with my next post in this thread.

 

Here is how the process is supposed to work:

 

1 - Request CLI online;

2 - Fill out IRS form 4506-T immediately, online, which allows Amex to verify your stated income with the most recent Federal tax return filed with the IRS;

3 - Receive CLI in a couple of weeks.

 

Here are some facts about the Amex 4506-T process:

 

  • The 4506-T process is different from a financial review. Failure to provide the requested form simply results in no CLI. Please discuss the FR process elsewhere.

  • Unless you've lied about your income, in my experience and observations you are unlikely to NOT receive a CLI as a result of tax return verification. Amex pays a fee for verifying your income, so when they present you with a 4506-T they genuinely want to extend more credit to you. I have more revolving credit with Amex than any other issuer as a result of CLIs that have come from this process. I currently have $97,000 on three revolvers, plus $35,000 revolving on my Platinum (the "pay over time" feature), and this revolving credit is on top of whatever else they'd approve on the NPSL basis on the Platinum.

  • You are NOT providing your tax return to Amex, you are authorizing them to review a transcript of your tax return to verify your income. There has been a lot of debate about what appears on the transcript. Here is one sample of a transcript I found. Here is another. I don't know which one Amex gets, or if it's either of these.

  • The $25,000 trigger for the 4506-T request is fiction. I didn't get my first 4506-T request until ~2x that. The threshold varies with your income, creditworthiness, and probably 400 other things in Amex's algorithm.

  • The most recent available tax year is what Amex will verify. As a general rule, your previous year's tax return will not be available for verification until August of the current year, so, for example, if you provide the form in May of 2017, make sure you specify tax year 2015 on the form.

  • If you do your CLI request online and the 4506-T is required, the form is now presented to you immediately on the Amex Web site, and can be completed/submitted instantly online. You will still receive one in the mail, even if you submit the form online.

  • There is a lot of discussion about when you are eligible for CLIs from Amex under the standard rules, but after a 4506-T the rules are relaxed. Earlier this year I got two 3x CLIs in 18 days.

  • Multiple CLI requests in the same year may require redundant 4506-T requests. For the two CLIs mentioned immediately above, I had to provide the form to verify the identical tax year for both.

 

Current/future experiences with the 4506-T process will be most helpful, but feel free to rant (or rave) about a past experience as well.

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Just want to contribute my data point.

 

Had a personal SPG Amex at $34,000. Hit the CLI button today, put in $50,000. It was approved instantly and didn't trigger a 4506-T.

 

So... there's no set "line". My FICO according to Amex is 777.

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I submitted my first 4506-T. Electronically, using chrome on a windows 8.1 machine and it went smooth. Now I just wait.

 

Question: How often can you request CLIs on the same card after a successful 4506-T? I know cv mentioned doing an additional cli after only 18 days but it wasn't clear whether that was on the same card or on a diff card.

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I submitted my first 4506-T. Electronically, using chrome on a windows 8.1 machine and it went smooth. Now I just wait.

 

Question: How often can you request CLIs on the same card after a successful 4506-T? I know cv mentioned doing an additional cli after only 18 days but it wasn't clear whether that was on the same card or on a diff card.

 

My experience was on a different card. Two 3X CLIs on two cards within 18 days. Both requests required a 4506-T.

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