Citi Request for IRS Form 4506-T: Advice Sought
Dec 21, 2012, 11:17 pm
#16
Join Date: Apr 2005
Location: Dallas, TX
Posts: 447
I ordered one for curiosity and was surprised how little detail is disclosed. Your spouse's name and Social Security number are included, but the Adjusted Gross Income is not broken out by earner or source. The exception is if there is Self Employment income, which is listed by earner.
See my post in the Membership Rewards forum here for a list of the data fields.
As more issuers are using these to verify income I think it's worthwhile ordering a copy from the IRS (it's free), before deciding whether or not to release it. I have no problem with it.
See my post in the Membership Rewards forum here for a list of the data fields.
As more issuers are using these to verify income I think it's worthwhile ordering a copy from the IRS (it's free), before deciding whether or not to release it. I have no problem with it.
Jan 26, 2015, 2:16 pm
#17
Join Date: Jul 2012
Location: Beverly Hills
Posts: 713
Does 4506T Requirement = Reached Exposure Limit?
Realllllllllly don't want to have to go through the 4506-T circus, which I ran into on my latest HHonors Visa Sig application.
Now stated income is $50k and Current credit is $30k.
Can I skirt the 4506T by offering to move exposure from existing lines? Or are they pretty myopic about receiving the 4506T before extending anything else?
Now stated income is $50k and Current credit is $30k.
Can I skirt the 4506T by offering to move exposure from existing lines? Or are they pretty myopic about receiving the 4506T before extending anything else?
Jan 26, 2015, 3:35 pm
#18
Join Date: Jul 2013
Location: DFW,OVB (Russia)
Programs: AA HH Gold SPG Gold BA
Posts: 1,823
Realllllllllly don't want to have to go through the 4506-T circus, which I ran into on my latest HHonors Visa Sig application.
Now stated income is $50k and Current credit is $30k.
Can I skirt the 4506T by offering to move exposure from existing lines? Or are they pretty myopic about receiving the 4506T before extending anything else?
Now stated income is $50k and Current credit is $30k.
Can I skirt the 4506T by offering to move exposure from existing lines? Or are they pretty myopic about receiving the 4506T before extending anything else?
at first they wanted this from me, I never sent it in and kept using my existing card, tried again within a few months Approved
you may be onto something though about possibly lowering your current credit limits with citi. It is very possible that you reached the max credit exposure citi is willing to lend you at this time. But, rather than outright denying you, they are willing to look into manually increasing your "shadow limit" but for that, they need to verify your income, to make sure you are not overextending yourself
Jan 26, 2015, 7:42 pm
#19
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,934
I don't think it's anything as simple as that. For over a decade, they've been approving me for every card. But in each of the past two years, sometime during the summer, they requested a 4506-T for whatever card I applied for at that time of year (so in 2013 it was some AA card, while 2014 it was an HHonors card).
Meanwhile neither my place of employment nor my income has changed in several years. (My home address, however, did change in spring 2013 -- did that have something do with it?)
Meanwhile neither my place of employment nor my income has changed in several years. (My home address, however, did change in spring 2013 -- did that have something do with it?)
Jan 26, 2015, 8:25 pm
#20
Join Date: Jul 2013
Location: DFW,OVB (Russia)
Programs: AA HH Gold SPG Gold BA
Posts: 1,823
I don't think it's anything as simple as that. For over a decade, they've been approving me for every card. But in each of the past two years, sometime during the summer, they requested a 4506-T for whatever card I applied for at that time of year (so in 2013 it was some AA card, while 2014 it was an HHonors card).
Meanwhile neither my place of employment nor my income has changed in several years. (My home address, however, did change in spring 2013 -- did that have something do with it?)
Meanwhile neither my place of employment nor my income has changed in several years. (My home address, however, did change in spring 2013 -- did that have something do with it?)
http://www.flyertalk.com/forum/citi-...-first-96.html
Jan 27, 2015, 3:50 am
#21
Join Date: Nov 2008
Programs: SPG Gold, Hilton Diamon, IHG Spire
Posts: 374
I strongly believe that lowering CL on existing card helps getting instant approval. After trying that, I no longer had to call in and reallocate credit.
FWIW, I manage 3 people's SSN, and applied for around 20 Executive card in the past year.
FWIW, I manage 3 people's SSN, and applied for around 20 Executive card in the past year.
Jan 28, 2015, 4:49 pm
#22
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,811
Jan 29, 2015, 4:49 pm
#25
Join Date: Jul 2013
Location: DFW,OVB (Russia)
Programs: AA HH Gold SPG Gold BA
Posts: 1,823
read the wiki of the citi exec AA thread carefully, I think you'll find some useful information in there
Jan 29, 2015, 10:26 pm
#26
Join Date: Aug 2014
Location: MSP
Programs: AGR S+, Marriott Plat, HHonors Diamond, Hyatt Explorist
Posts: 100
Normally industry standard is your total revolving credit should not exceed your annual income. If your credit history is good you may be able to push for 2x annual income.
Jan 30, 2015, 3:06 am
#27
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
Programs: UA 1K 0.9MM, Marriott Gold, HHonors Gold, Hertz PC, SBux Gold, TSA Pre✓
Posts: 13,811
Jan 30, 2015, 9:18 pm
#28
Join Date: Jun 2014
Location: FL
Programs: AA EXP, Hyatt Diamond, SPG Plat, IC Plat Amb, HH Diamond, Marriott Platinum
Posts: 1,299
Per bank or overall? I just hit my overall CC limit = Annual income but it is distributed on 5 different creditors
Jan 31, 2015, 12:19 am
#29
Join Date: May 2013
Location: LHR
Programs: AA EXP, DL DM, Marriott Titanium
Posts: 1,033
In theory should be overall, but doesn't necessarily seem to be the case? I'm a grad student living on a grad student stipend, combined CL of ~3x my annual income. About half of my cards (16 in total across the major banks) have been acquired since I started the program and reported my stipend income on CC apps -- the other half were opened while I was working and (unsurprisingly) have somewhat higher CLs. Highest combined CL with any one bank is about 80% of my income, though.