What to do if a credit card issuer asks you for your tax return?

When you apply for a credit card 99% of the time banks rely on your stated income. Let's say you write that you earn $100,000 a year. Amex will be -ok- Whatever you say. It's fine with me just please pay your bill. I mean literally this is how it works.

But sometimes credit card issuers decide to double check. And they will ask you to sign IRS form 4506T giving them access to get your tax returns from IRS.

I advise you to always send back the doc even if the income on your tax return does not match the income you stated on the application. You have the right to include on your credit card application income that you're legally not required to report on your tax return. An underwriter will never ask you why you stated on the credit card application more income then is found on your tax return.

The underwriter will review your tax return and see if the income on your tax return is sufficient enough for them to approve the application. How much income is sufficient, neither me or you know. It depends on the underwriter. That is why I would always advise you to send in your tax return and let the underwriter decide. In the worst case you will get declined but if you do nothing then you will forsure get declined!

Hi, thanks for watching our video about What to do if a credit card issuer asks you for your tax return.

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