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discover card requesting irs form 4506 t

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Bruinator    48

I am wondering if anyone who has applied for a discover card if you have been asked to fill out an IRS 4506-t form? If yes, what is the purpose of it or is it a scam? 

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+warwagon    13,924

Quick google search brought me here with someone asking the same question

 

 

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Xenon    11,582

I haven't had to get a new card in a while but I have never heard of this. 

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Bruinator    48

Anyone else have opinions on this plz?

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+warwagon    13,924
8 minutes ago, Bruinator said:

Anyone else have opinions on this plz?

Not sure if you've done it yet, but if you click the text that i posted it takes you to a reddit thread with lots of comments and opinions.

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Bruinator    48
Posted (edited)
15 minutes ago, warwagon said:

Not sure if you've done it yet, but if you click the text that i posted it takes you to a reddit thread with lots of comments and opinions.

Just did but I would like to know opinions from people here. Thx

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Brandon H    3,836

what more is there to give opinions on? It looks like it's a legit though uncommon request credit card issuers can ask for to verify your income is what you say it is.

 

that's actually a very informative reddit thread (Y)

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Bruinator    48

Coz it

10 minutes ago, Brandon H said:

what more is there to give opinions on? It looks like it's a legit though uncommon request credit card issuers can ask for to verify your income is what you say it is.

 

that's actually a very informative reddit thread (Y)

Coz it deals with a 3rd party vendor i believe and its looking for income tax info which holds personal info!!!!!

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Bruinator    48

Between the 3rd party issue and the negative reviews about not getting a $75 reward credit from amazon, I just cancelled it. A person cant be too trustworthy these days especially with all the scams going on caused by the coronavirus.

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Jim K    15,692

You could have called Discover ...

 

https://www.discover.com/credit-cards/help-center/contact-us/

 

...and asked them (why they want a 4506-t, not unheard of) .  Not sure why Discover would be scamming you ... obviously if you are just receiving some random emails or popups ... those could be scams. 

 

Which is why, when in doubt, go straight to the company.

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geoffreyspears    0

You just tell them you refuse to comply and close all of your accounts with them. If everyone does that, they'll either quickly stop this draconian and excessively invasive practice or go out of business from lack of accounts. Even the President of the United States hasn't disclosed his tax returns, yet Discover expects me to? 

 

Allowing a company full access to your confidential IRS data is insane. They already have access to your entire credit reports from the credit bureaus as well as your purchase and payment history accumulated during your time as their customer. If they have access to your IRS tax history, they'll know your charitable and political donation recipients, your investment practices including stock investment gains/losses and financial firms where you trade and they'll know your deductions and expenses. They already have a privacy policy that allows them to share anything they know about you with their "business partners and affiliates" for any purpose they want including marketing products and services to you. Do you really want a credit card company using your most confidential financial information to empower whichever 3rd party marketing firms as they target you?    

 

Fortunately, the credit card business is competitive and there are lots of players, so I told Discover to f-off and closed everything I had with them - opened new accounts with companies that actually want to get and retain new customers. 

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