WHAT YOU SHOULD KNOW ABOUT EQUIFAX, DISCOVER & THE 4506-C FORM
So first let me tell you, I spend a lot of time watching my credit scores and reading everything about credit that I see. It’s became a total obsession with me. I want to constantly get my score up and everybody’s elses as well.
A couple weeks ago I applied for the Discover Secured card and yes, the secured card meaning after I was approved I gave them my card number and they charged it for $200. The card is on the way at that point. At least that is what I was told. It was all done, I applied, they approved and I made the deposit. Deal done. Well not exactly so be aware of what comes next. About 8 or 9 days have passed by and I get an email one morning with Equifax Verification Services at the top asking me to put my signature on an IRS consent for form for the 4506-C and then goes on to tell that it’s requested by Discover card. So of course, I knew this was a scam and I call Discover just to let them know what is going on. I was shocked to be told that in fact Discover did send it out to me along with many other people and it must be signed, giving them consent to request my tax returns. First, I am pretty sure that we have an entire credit scoring system in place just for that. Doesn’t my credit score give you an idea of if I will pay you or not. Not a guarantee but that credit score is in place as with my whole credit report so you can get an idea as to if you should give me credit or in my case, I’m just asking you to put my money on your card for me to use so there is no actual risk at all. So I am having this conversation with the gentleman from Discover and he proceeds to tell me it must be signed but my card is on the way. Well I ask him what happens if I don’t sign it. He says my card will not be activated until I do. Oh yes, I am thinking surely I will have access to the money I gave Discover. No, not the case, so I told him to go ahead and cancel the card to process a refund. Not a problem he says and I can expect my money back in 2 billing cycles. So that is how it works. You apply, get approved, deposit money with them and then about the time you should be getting the card, the rules have changed and you then don’t have access to your own money. Honestly, for a secured card? What kind of practice is this and I went with Discover for a secured card to be with a reputable company.
