142 replies to this topic

[hegemony]

example:

hedge: can you waive my AF?
bank: checking with our computers..... sure'

joe smo: can you waive my AF?
bank: hell no, you dont seem to understand you are a piece of s*** upon this earth. you're lucky we didnt charge you for making your credit card plastic ya hobo, now go before we charge you for these minutes on our phone system

now, now...be nice to Hegemony

I've not gotten an annual fee waived. my credit profile is not anything special.

[bananablack]

Costco and AMEX are just protecting their best interest, just like we all do. Also checking receipts keeps prices down by preventing theft

[BDK]

Costco and AMEX are just protecting their best interest, just like we all do. Also checking receipts keeps prices down by preventing theft

And my Costco usually puts their prettiest girls at the door at least! I don't mind them checking my receipts since I didn't steal anything.

[CIO]

Wowza, I've never seen BW fired up like in this thread. Imma gettin' all man-crushy.





As far as Amex FRs, I didn't think I would ever do it, but I ended up offering my tax returns in exchange for a huge limit increase on my Blue Cash. For me, it was completely worth it and I'd probably comply with a FR if they initiated it at some future point. No worries if it's not acceptable for others. Live and let live.

[hegemony]

As far as Amex FRs, I didn't think I would ever do it, but I ended up offering my tax returns in exchange for a huge limit increase on my Blue Cash. For me, it was completely worth it and I'd probably comply with a FR if they initiated it at some future point. No worries if it's not acceptable for others. Live and let live.

define huge. thanks

[Jank]

I have read this whole post and still no one has spelled out what the AMEX. FR is, please enlighten this newby...........

[hegemony]

I have read this whole post and still no one has spelled out what the AMEX. FR is, please enlighten this newby...........

when amex asks for a dan sample and a prostate exam.

a FR is when amex verifies your income be asking for tax transcripts.

[franklinD]

If I got a FR from AMEX (my own credit), my wife would not consent to AMEX having the tax transcripts since we file jointly.

[hegemony]

If I got a FR from AMEX (my own credit), my wife would not consent to AMEX having the tax transcripts since we file jointly.

does she have amex cards too? what reason does she give for not wanting to prove income to amex?

[dvd]

I have read this whole post and still no one has spelled out what the AMEX. FR is, please enlighten this newby...........

FR is a Financial Review. A Financial Review is when Amex ( and many other creditors) will suspend your account pending requested additional information. Most of the time they request that you send them a IRS release so they can obtain your tax returns as proof of income. There are various theories on how one gets a FR.

[EvoX]

I do not like amex FR. I would close my amex accounts if they asked for those documents.

re receipts: After you purchase something it belongs to you, the store can make no policy that says you may not leave the premise until they check your receipt. If you know you did not steal anything, there is no reason to stop.....

Costco is not a "store". It is a club. They may not be able to stop you from walking out of the store, but they can revoke your membership for not following their policy.

I have been through the AMEX F/R and I didn't care for it. I fully support AMEX having as many details about my financial profile as they wish, but I don't think their manner of obtaining them is ideal.
AMEX extended me about $35,000 in credit, and when I started to use about half of it in the first 6 months, they got nervous so they F/R'd me. If you think about it, $20,000 of unsecured debt is a ton of money to loose. In some places of the country that could be a down payment on a house.

If you've ever had a mortgage, you'll know that they need paystubs, 4506T's and a credit report. Assuming you put 20% down on a house with a legit appraisal in a non-declining market, the bank is not going to loose anywhere near $20,000 if the house goes into foreclosure, yet they still want to see all of your documents. I'm actually surprised that more credit card companies don't want proof of income.

My problem with the AMEX method is that it is not up to date. If you get laid off in January of 2012 and you earn no money for 14 months, and then you get an F/R in March of 2013, you will pass with flying colors [because they will look at your 2011 taxes]. Or if your income goes up or down significantly, AMEX has no way of knowing, since they won't check your paystubs. This is a huge risk for AMEX and a huge disservice to people who have rapidly growing incomes.

I also think that AMEX should give you a courtesy $500-$1,000 limit when you are under F/R so that any automatic billings will go through and you can use the card for small purchases. Or AMEX should F/R you BEFORE they give you a credit card. Extending credit and then suspending it is not good business.

[BDK]

I also think that AMEX should give you a courtesy $500-$1,000 limit when you are under F/R so that any automatic billings will go through and you can use the card for small purchases. Or AMEX should F/R you BEFORE they give you a credit card. Extending credit and then suspending it is not good business.

HUGE +1!!!

[ubermama]

I've been reading this thread trying to figure out what on earth FR means. May I just point out that it isn't in the glossary thread??

http://creditboards....hp?showtopic=32

[ubermama]

I have read this whole post and still no one has spelled out what the AMEX. FR is, please enlighten this newby...........

FR is a Financial Review. A Financial Review is when Amex ( and many other creditors) will suspend your account pending requested additional information. Most of the time they request that you send them a IRS release so they can obtain your tax returns as proof of income. There are various theories on how one gets a FR.

OK, ignore my last post. I hadn't read this one yet.

[AnthonyC]

I've had a Platinum Card and a Blue since 2005. I've used the card the same way every month of every year. I get hit with FR's once or twice a year. Every time my cards are put on hold for about 10 days. Very annoying. Every time I send my info it is exactly the same, but yet it still happens..

When I was on Vacation in Disney(Florida) getting a replacement card (I lost mine at the airport, no unauthorized charges or even attempts they said), the man next to me was getting one also. They called him and told him to get one. He told me that someone used his Amex for $30,000 a few weeks before and that AMEX told him about it, and he didn't even know it, and that it has happened to him before. His card was never even frozen. I asked hime if he ever had to do a FR and he said never..

The day I got home.... FR..... LOL

[Antimony]

If I got a FR from AMEX (my own credit), my wife would not consent to AMEX having the tax transcripts since we file jointly.

Would AMEX even be able to get the information they want out of a married-filing-jointly return? Is there any way to see whose income is whose on those tax transcripts? Because it sure is tempting to go back to reporting household income for CLIs if they're going to take the household income info anyway.

[SomeGuyInCA]

I've had a Platinum Card and a Blue since 2005. I've used the card the same way every month of every year. I get hit with FR's once or twice a year. Every time my cards are put on hold for about 10 days. Very annoying. Every time I send my info it is exactly the same, but yet it still happens..

When I was on Vacation in Disney(Florida) getting a replacement card (I lost mine at the airport, no unauthorized charges or even attempts they said), the man next to me was getting one also. They called him and told him to get one. He told me that someone used his Amex for $30,000 a few weeks before and that AMEX told him about it, and he didn't even know it, and that it has happened to him before. His card was never even frozen. I asked hime if he ever had to do a FR and he said never..

The day I got home.... FR..... LOL

Out of curiosity, how is it that you use the card(s)?

I'm just curious if there is something in your usage pattern that would be screaming "FR this guy" to them.

[Antimony]

Would AMEX even be able to get the information they want out of a married-filing-jointly return? Is there any way to see whose income is whose on those tax transcripts? Because it sure is tempting to go back to reporting household income for CLIs if they're going to take the household income info anyway.

Bump