The Master American Express AmEx Financial Review FR F/R Thread

[Rebuilding2010]

How did I respond to a different thread when I started in this one? Weird!

[BobWang]

It's a new format.

[tifozi]

 

Do they really know you that well Bob ? (serious question)

 

Yes, they do.

 

But, I'm joking THIS time.

 

[BobWang]

 

She'll tackle it next week.

 

The F/R clock starts ticking once she talks to them, and she's got stuff going on this week.

So now it IS an official F/R?

 

She called AmEx again to release the block on her Delta Gold.

 

No F/R, used it at Costco w/o problems.

 

Now I have to help her charge the $5k to qualify for the next 25k Delta SkyMiles.

[BobWang]

A few weeks ago I applied for an AMEX card and was instantly approved (BCE) for my highest CL yet - 16K. Well, I barely had it a week (and had only used it for once for lunch) and got a phone call I was getting a FR. Only trigger I can think of was I did app for several cards all at the same time and that was my first app spree in over 2 years.

 

I signed the form and let them get my tax return - was a little nervous because even though I was honest about my income part of it is from self employment and wasn't sure they would like that.

 

Took over a week but I finally got a call tonight that I passed and they are leaving my CL alone - thank goodness but I was sweating it! I've read that once you have one you're more likely to get another - any thoughts on that??

 

Have backups

[chugs102]

Will they actualy backdate if you previously had a card with them that was closed in such a way that you ended up on the blacklist?

And if they were to pull up the nfo and backdate the card, could it have unintended consequences on the new card? Perhaps a FR or lowered exposure on their charge cards?

 

Just some questions after all i have read about Amex.

 

A FR is fine. I'm in much better shape than 9.5 years ago.

[BobWang]

^ for entertainment

[shifter]

Will they actualy backdate if you previously had a card with them that was closed in such a way that you ended up on the blacklist?

And if they were to pull up the nfo and backdate the card, could it have unintended consequences on the new card? Perhaps a FR or lowered exposure on their charge cards?

 

Just some questions after all i have read about Amex.

they had no problem *D my new card to my first card that was CO 8 years ago. however, we did get a FR before we could even use the new card and I'm almost 100% sure it's because of my CO. but the FR came back in 4 days with no problems, so I'm not worried about it.

 

also the *D didn't have anything to do with the FR as they did the FR before I even had the chance to ask for the *D.

Edited January 10, 2014 by shifter

[BobWang]

I applied for the Amex Delta Card on 1/20 and got approved. (First Card from Amex) I also applied the same day for the SPG card which is still pending and I dont have an answer yet as for the decision. I dont as this point really care if the SPG is approved or not.

 

The one thing I dont want is a FR. I will be more then happy with the Delta card. I'm wondering if I should try to somehow(if possible) to cancel the SPG application as its still pending or should I wait for a decision.

 

 

If the SPG comes back, as they say they need to do A FR and I ignore it, what would happen exactly?

 

Would it effect the Delta Card in anyway if I dont respond to a FR on the SPG APP?

 

I didnt receive any answer yet, but I would like to know what to do if this were to come up???

 

 

 

You should care if the SPG is approved, it's a GREAT card. Much more valuable IMHO than the Delta...

 

If you ignore a FR request, ALL of your Amex cards will be closed. Don't do that!

 

After 5 days, personally I'd call and see what's up and try to get an approval.

 

Im self employed and Unfortunately I would not pass a FR due to some documentation.

 

[shifter]

then you're playing with fire with Amex.

[BobWang]

Multo Fuego

[Cappy]

Would applying for 2 Amex on the same day cause a fr?

[BobWang]

Not by itself

[Cappy]

Not by itself

I applied for the delta card on 1/20 and got approved. Also on 1/20 I applied for the spg card and it's pending. If I get denied for the spg, will I be ok on the delta?

[shifter]

who knows? FRs can happen to anyone at any time.

 

like I said, if your taxes don't corroborate your stated income

 

you're playing with fire with Amex.

[A1will]

Has anyone ever successfully used 2x4506T forms during an FR? 1 for my personal income, 1 for my SO (No joint filings or joint accounts) income?

Based on my reading we would fit this definition

"The third example in proposed comment 51(a)(1)-6.iii would have assumed that

no portion of the household member’s salary is deposited into an account to which the applicant

has access. However, the household member regularly uses that salary to pay for the applicant’s

expenses. The proposed example would have clarified that an issuer is permitted to consider the

household member’s salary as the applicant’s income for purposes of § 1026.51(a) because the

applicant has a reasonable expectation of access to that salary."

But don't really want to get into a semantic battle with Amex.

[BobWang]

If you're not married,

 

I don't think AmEx will accept a second 4506-T

[shifter]

the key word is "permitted".

 

this doesn't say that the issuer HAS to consider the income only that they are PERMITTED to do so, if they choose.

[A1will]

the key word is "permitted".

 

this doesn't say that the issuer HAS to consider the income only that they are PERMITTED to do so, if they choose.

 

Great point!

 

So that still leaves the original question up in the air....Does Amex permit this income to be reported?

 

If no one can affirmatively say yes or no, I will go with Bobwang's input and just list sole.

[shifter]

not only are you not married, you don't file jointly and don't comingle money at all.

 

that's about the farthest fringe case possible for listing as income on credit apps.

 

as having been through two FRs, I can say the FR team is not receptive to your explanations.

 

personally I wouldn't risk it if you value your relationship with Amex.

[A1will]

as having been through two FRs, I can say the FR team is not receptive to your explanations.

 

personally I wouldn't risk it if you value your relationship with Amex.

 

 

This is the answer I was looking for.

 

Thank you.

[cashnocredit]

 

the key word is "permitted".

 

this doesn't say that the issuer HAS to consider the income only that they are PERMITTED to do so, if they choose.

 

Great point!

 

So that still leaves the original question up in the air....Does Amex permit this income to be reported?

 

If no one can affirmatively say yes or no, I will go with Bobwang's input and just list sole.

 

 

The card act interpretation the CFPB issued states that lenders may specify requirements tighter than those allowed by law but if so they must use terminology such as "individual income" on the application. Keep in mind that this is a fairly new CFPB rule and it isn't clear whether this has changed their FR processes. If I was accepted based on the "income you expect to have access" rule I would sure insist on that being considered by an Amex FR and if not would file a dispute with the CFPB. These things need to be in alignment for everyone's best interest.

 

Amex can use "individual income" if they wish but they should be consistent.

 

As an aside, when I charged a really high $ item (exceeding all my other CLs combined) on Amex I half expected an FR but they didn't even soft me. People worry too much.

Edited March 25, 2014 by cashnocredit

[A1will]

I'll just go with my personal until a later date where Amex specifies otherwise. By that time I'll probably be married and filing jointly anyway.

Should I go home and ask my SO

"Will you marry me so I can use your income on my Amex profile"?

[BobWang]

I guess that's a tad better than

 

"You win"

[Guest]

I just signed into my account and I see that my AU Blue is suspended. It says I need to call them if they haven't already spoken with me.

 

 

 

Only MY cards with all the AUs.

 

She DID say something to the effect of:

 

"We kinda trust YOU, it's your AUs we don't trust."

Unbelievable....especially since you are basically guaranteeing all charges by all au's (as EVERY card member with an AU does)

 

 

and you all like Amex WHY?