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cv91915

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

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The whole reason for the 4506 is to get reported IRS numbers instead of letting you make something up. Whatever is on your 1040 is what they base their math on for your submission. I've been through the process a few times already and there are some tricks to the whole process. Like if you miss the simple little check box next to your "signature" they won't even process it or let you know that it's an issue unless you call them for a status check.

 

You have to keep on them sometimes if you really want it.

 

I would suggest calling them after you submit the form 48-72 hours after to make sure they got it and it's all correct to submit for your transcripts.

 

After that give it a week and check in with them again to see if they got it back or not. (the first one I did took about a week from start to finish / second one drug out for several weeks back in March 2017)

 

Keep tabs on it weekly to make sure it's processing or track where you're at.

 

All three of these go directly to the monkeys that handle CLI's with a 4506.

 

800-952-7562 800-535-7790 800-576-8942

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amex will see essentially everything on the first page of a 1040 in the transcripts.

 

FWIW, always use gross not AGI for everything.

Is the CLI rejected if 4506-T does not match income entered because they are using the last year's income?

 

they probably won't tell you why it is rejected.

 

In general, you want to wait until late August of the year after a high 1040 year so that the prior year's transcript is available.

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amex will see essentially everything on the first page of a 1040 in the transcripts.

 

FWIW, always use gross not AGI for everything.

Is the CLI rejected if 4506-T does not match income entered because they are using the last year's income?

they probably won't tell you why it is rejected.

 

In general, you want to wait until late August of the year after a high 1040 year so that the prior year's transcript is available.

Is there a "I am under audit" excuse? :-)

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amex will see essentially everything on the first page of a 1040 in the transcripts.

 

FWIW, always use gross not AGI for everything.

Is the CLI rejected if 4506-T does not match income entered because they are using the last year's income?

they probably won't tell you why it is rejected.

 

In general, you want to wait until late August of the year after a high 1040 year so that the prior year's transcript is available.

Is there a "I am under audit" excuse? :-)

Why an excuse while you can just ignore the request or try a lower amount?

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I have a good one... sorry long story. TLDR: a lot of effort for $200 increase.

 

Submitted CLI for a blue cash preferred currently 11.8k. Went for x 3 = 35.4k total requested limit.

 

Reported income 150k which matched 2016 transcript. I have one other amex; a delta skymiles amex card with 20k limit. Income verification requested.

 

4506-T submitted online 2/27/18. 15-30 day response. Called 800-576-8942 a few days later to check. Rep stated there was a problem with form- missed line 6 (1040 was entered automatically and 6a checked- see screenshot)

7xXJc9i.png

 

 

Resubmit online 3/5. Still didn’t work. Received 3 separate letters in the mail with paper forms.

 

Mailed paper copy 3/12. Called 3/22: That paper form you sent is expired; you must use new form downloaded from IRS.gov. Instructed to fax new form and call to verify in 48 hours. Faxed new form to 801-945-7977 on 3/22. Checked on 3/26; correct form received; waiting on IRS for transcript.

 

Called again 4/4- consideration team reviewing partial increase, will get back to me within 24 hours.

 

Called in the next afternoon 4/5- noticed online limit increased $200 to an even 12k. Rep said underwriting team has it under review and they will have a response in a week.

 

Called 4/16: Rep stated denial was due to “information from tax transcript.” +$200 was their final decision 4/5/18.

 

Still waiting on letter. Last EX soft pull 810 so I guess amex didn’t like my 2015 income of 57k? I’ll resubmit in August so I can use 2017 income and see what happens. What a waste of time! This is my lowest limit card.

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I have a good one... sorry long story. TLDR: a lot of effort for $200 increase.

 

Submitted CLI for a blue cash preferred currently 11.8k. Went for x 3 = 35.4k total requested limit.

 

Reported income 150k which matched 2016 transcript. I have one other amex; a delta skymiles amex card with 20k limit. Income verification requested.

 

4506-T submitted online 2/27/18. 15-30 day response. Called 800-576-8942 a few days later to check. Rep stated there was a problem with form- missed line 6 (1040 was entered automatically and 6a checked- see screenshot)

7xXJc9i.png

 

 

Resubmit online 3/5. Still didn’t work. Received 3 separate letters in the mail with paper forms.

 

Mailed paper copy 3/12. Called 3/22: That paper form you sent is expired; you must use new form downloaded from IRS.gov. Instructed to fax new form and call to verify in 48 hours. Faxed new form to 801-945-7977 on 3/22. Checked on 3/26; correct form received; waiting on IRS for transcript.

 

Called again 4/4- consideration team reviewing partial increase, will get back to me within 24 hours.

 

Called in the next afternoon 4/5- noticed online limit increased $200 to an even 12k. Rep said underwriting team has it under review and they will have a response in a week.

 

Called 4/16: Rep stated denial was due to “information from tax transcript.” +$200 was their final decision 4/5/18.

 

Still waiting on letter. Last EX soft pull 810 so I guess amex didn’t like my 2015 income of 57k? I’ll resubmit in August so I can use 2017 income and see what happens. What a waste of time! This is my lowest limit card.

 

:lol: this process is a disaster of credit union proportions.

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FWIW I plan to make an unreasonable request on 9/1/2018 (assuming 2017 tax transcripts are available by then) just to see if the process is a discoveryed-up as last time.

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The process went a lot smoother this time around. CLI requested 8/3 for the same card BCP 12k -> 36k.

Income verification requested; submitted 4506-t online for years 2016 and 2017. Page states to expect 15-30 days.

I called in 8/9 to check- online form was accepted and sent to IRS for transcript.

Logged into online account 8/14 and saw 36k credit line. Less than 2 weeks!

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4 hours ago, BravoSierra said:

The process went a lot smoother this time around. CLI requested 8/3 for the same card BCP 12k -> 36k.

Income verification requested; submitted 4506-t online for years 2016 and 2017. Page states to expect 15-30 days.

I called in 8/9 to check- online form was accepted and sent to IRS for transcript.

Logged into online account 8/14 and saw 36k credit line. Less than 2 weeks!

:swoon: Sounds like they've given this process a major tune-up.

 

Or this was a fluke. ;)

Edited by cv91915

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5 hours ago, BravoSierra said:

The process went a lot smoother this time around. CLI requested 8/3 for the same card BCP 12k -> 36k.

Income verification requested; submitted 4506-t online for years 2016 and 2017. Page states to expect 15-30 days.

I called in 8/9 to check- online form was accepted and sent to IRS for transcript.

Logged into online account 8/14 and saw 36k credit line. Less than 2 weeks!

SWEET! congrats!

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8 hours ago, BravoSierra said:

The process went a lot smoother this time around. CLI requested 8/3 for the same card BCP 12k -> 36k.

Income verification requested; submitted 4506-t online for years 2016 and 2017. Page states to expect 15-30 days.

I called in 8/9 to check- online form was accepted and sent to IRS for transcript.

Logged into online account 8/14 and saw 36k credit line. Less than 2 weeks!

That's against 1040 income of approx $60k??  If so, impressive!

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17 hours ago, hegemony said:

SWEET! congrats!

Thanks! Hopefully the process is as painless for everyone else.

 

14 hours ago, hdporter said:

That's against 1040 income of approx $60k??  If so, impressive!

 

AmEx went to 32k total exposure last year with that income showing, which I guess isn't bad!

 

This month I could show 2016 and 2017 which were higher, and the larger CLI was approved. Total exposure with AmEx is now 66k. 

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So I've done this before with an account my SO has.  If I request a $50K CL and complete the 4056-T. IS it either they approve or deny, or will they offer an alternative increase if not for the full $50k?   Does having a $50K CL from Chase help at all? 

 

 

Edited by Dennis007

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So I've done this before with an account my SO has.  If I request a $50K CL and complete the 4056-T. IS it either they approve or deny, or will they offer an alternative increase if not for the full $50k?   Does having a $50K CL from Chase help at all? 
 
 


They can approve for less.



Sent from my iPhone using Tapatalk

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On 9/25/2018 at 6:01 PM, Dennis007 said:

So I've done this before with an account my SO has.  If I request a $50K CL and complete the 4056-T. IS it either they approve or deny, or will they offer an alternative increase if not for the full $50k?   Does having a $50K CL from Chase help at all? 

 

 

 

On 9/25/2018 at 6:54 PM, get.randy said:

 


They can approve for less.

 

 

 

 

So I heard back from AMEX today and was approved the full credit limit I requested of $52K 

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5 hours ago, Dennis007 said:

 

 

So I heard back from AMEX today and was approved the full credit limit I requested of $52K 

nice! I have amex on my calendar for Monday

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On 10/12/2018 at 3:37 PM, hegemony said:

nice! I have amex on my calendar for Monday

Any updates?

 

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I stopped asking Amex for CLIs because of this ridiculous, disjointed and ineffective process, which must have originally been borrowed from a credit union procedure manual -- and then optimized further for maximum failure potential.

 

I've read a small handful of positive anecdotes about the 4506-T process in various posts on CB since that time.  

 

Perhaps it's time to get back on and try again...

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1 hour ago, hegemony said:

while ( i < 3 ) { printf( "4506-t \n"); i = i + 1

while ( i ❤️ u 2 ) . . .

 

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10 minutes ago, Kat58 said:

while ( i ❤️ u 2 ) . . .

 

translation: they cycled me three times in the 4506-t loop; same as last time I followed through on a request. I gave up :)

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