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If you come under credit card company so called ‘review’ process, then they want you to sign a IRS Form 4506T, that gives them permission to get your tax returns from the IRS. Meanwhile, they will put your credit card on ‘hold’ so you cannot use the credit card. Isn’t that appalling?

I was just shocked when recently my credit card company put me under the ‘review’ process out of the blue. I have very good credit and have never been delinquent. And I am not a new card holder. I have been with them for more than 11 years. So they have a history on me that clearly showed not a single missed payment.

I called them up explaining that they have access to my credit file and my payment history with them. They would not listen. I was shocked!

I had not seen this ‘ugly’ face. No matter what I said, they would not budge. They kept repeating the same ‘mantra’; ‘we need you to sign the IRS Form 4506T so we can pull your tax returns’.

I talked to a lawyer, and he told me that you have no reason to share your tax returns with them and it may constitute ‘invasion of privacy’. They have your credit file and more than 10 years of payment history and that it should be sufficient. To protect my privacy, the lawyer wrote them a letter but to no avail.

I wanted this matter resolved just so that it does not show up adversely on my credit file. I finally offered them my bank statement to show I have the money to pay them. They would not budge. ‘We want your tax returns’ came the blunt reply!

Finally, I got hold of a VP at the credit card company and came to an agreement. He looked at my payment history and bank statements and reinstated within 24 hours my credit card.

Moral of the story is if you get caught in a credit card company ‘review’ and are asked to show your tax returns, it may not be necessary. Protect your privacy. Put up a fight. Because if you don’t, then next time they will ask for more!

objavio/la debt.com  # 06:17