Do you support current Amex FR Policy ?

[ConcordUser]

Do you support current Amex FR Policy ?

[jaybee]

Imagine if Amex's FR policy became standard procedure for every lender? Would be interesting to see some of the people with 25+ cards getting dozens and dozens of random FR's annually.

[dnm45227]

No! I support them assessing my truthfulness in the application by providing W2's or pay stubs, but tax returns contain my family's personal information. That is not something Amex has a need to know.

[Mortgagase]

No! I have been a Amex member for more than 30 years and have never been asked for supporting documents for income verification. If asked for 1040s, the answer would be no. I have to assume that there is a reason for the FR. Maybe unusual credit activity or reported income that may not be in line with your job title. My $.02!!

[LustfortheMoment]

Do you support current Amex FR Policy ?

 

Absolutely. AMEX isn't a non-profit organization serving humanity. It's a capitalistic enterprise which is accountable to its stockholders. AMEX should RIGHTFULLY manage its risk each and every day. If folks don't like the intrusion of a FR, they certainly can vote with their feet and cancel their card(s). JMHO........

 

Happy Holidays..........

[TMaG82]

Yes, I have nothing to hide. I'm truthful on all my apps and don't mind backing it up. Especially in today's age when if someone really wants to find something out about you they can, i don't mind. Just like I don't flip out when the 70 year old asks to see my receipt when leaving Costco, it's all part of business.

[Culpeper Mike]

this is the worst worded poll anyway. what does 'do you support it' mean? most people are going to say no outright because they wouldn't WANT one. the poll should read something like, "do you think amex has the right to randomly FR to protect their investment?" or "would you submit to a FR to keep your amex products?"

 

in fact the best poll for this board would be, "would you submit to a FR in order to even get an amex product?" i'm sure about 95% of the people on this board would love an amex product and strive to build their credit up enough to actually get one at some point.

 

hell, heres another poll. if you had <650 fico and couldn't qualify for an amex product for 18 months until you raised your score or could get one right now by submitting to an FR which would you do? i bet that poll gets 80-90% response in favor of the FR.

Edited December 18, 2011 by Culpeper Mike

[hegemony]

the poll makes little sense. I may not like it that amex uses this tool to mitigate risk but that does not mean I would not comply.

 

amex is free to request whatever it wants from consumers, within the law, and consumers who do not want to comply can tell amex to foad.

 

what some people seem to miss is that some consumers will be better off if tax and other data were disclosed. my financial situation looks a lot better if amex looks at my 1040s and bank statements than if it only looks at my W2s since my spouse is 80% of our income.

[dnm45227]

I don't flip out when the 70 year old asks to see my receipt when leaving Costco, it's all part of business.

Exactly the reason I don't shop at Costco. If you think I have committed a crime detain/arrest me, if not don't restrict my liberty. I now they get away with calling me a thief by making it part of the membership policy to show a receipt upon request, so I vote with my feet in this instance as well.

[TrevorHere]

I would comply.

[LustfortheMoment]

Exactly the reason I don't shop at Costco. If you think I have committed a crime detain/arrest me, if not don't restrict my liberty.

 

I don't see any restriction in "liberty".

 

I can't bring bottled beer into Fenway Park in my purse. The Red Sox simply have a policy which I may certainly reject by absenting myself from the ballpark .

 

I appreciate the discounts available at Costco and therefore am willing to follow their rules. We each have our own thresholds, but liberty is not the issue.

[NorCalR1]

in fact the best poll for this board would be, "would you submit to a FR in order to even get an amex product?" i'm sure about 95% of the people on this board would love an amex product and strive to build their credit up enough to actually get one at some point.

 

Here we go again. Somehow, it is perceived AMEX membership is mandatory and we all must strive for it. In essence AMEX is a king and we all must sheepishly follow.

 

Nonsense.

 

If that works for you and others, more power to you.

 

I reserve the right to have a card relationship with whomever I choose.

 

As I said before, F/R and other derivatives of income verification is well within the legal rights of AMEX and any other bank. I fully support their business decisions to do so. But that in no way means I am required to comply.

 

In the final analysis, it is my right as to whether I choose to comply and I chose not to.

 

Will other banks follow AMEX's lead? I don't know. I will make my decision when the time comes.

 

For now though, credit card issuers need us more than we need them. Perhaps we should all remember that from time to time.

[BobWang]

I have "green" friends who live in a small city near by.

There are 2 Sam's Clubs in their city that they refuse to patronize.

So, they drive 150 miles round trip to shop at the Costcos here.

 

Makes about as much sense as some of the arguments here.

[dnm45227]

Exactly the reason I don't shop at Costco. If you think I have committed a crime detain/arrest me, if not don't restrict my liberty.

 

I don't see any restriction in "liberty".

 

I can't bring bottled beer into Fenway Park in my purse. The Red Sox simply have a policy which I may certainly reject by absenting myself from the ballpark .

 

I appreciate the discounts available at Costco and therefore am willing to follow their rules. We each have our own thresholds, but liberty is not the issue.

Why do they demand a receipt? In large part because they want to make sure you paid for your items. When I was a cop I had to meet certain constitutional requirements before I could stop a person and deny them their freedom of movement (liberty). I'll be damned if I'm going to give up my constitutional right to be innocent until proven guilty because I can get a good deal on a barrel of Kirkland pretzels.

 

Like I said earlier, if you are that sure I've done something wrong exercise your rights and have me brought up on charges. If you aren't that sure then don't stop me from going about my merry way.

 

But then again, I could just be a wingnut.

[santacruz]

i like the 2012 version

[NorCalR1]

IMHO, Costco wanting to check your receipt upon exiting the store is not a liberty issue. I shop at Costco all the time and it doesn't bother me.

[dnm45227]

It's cool. I freely admitted to being a wing nut on these types of issues. Don't even get me started on the TSA. Let's just say I opt in for the pat down.

[BobWang]

http://microbiology.mtsinai.on.ca/faq/transmission.shtml

[dnm45227]

http://microbiology.mtsinai.on.ca/faq/transmission.shtml

Don't care. If they are going to take the positions of near strip searches and no adherence common to sense when applying screening standards then they are going to look me in the eye and put hands on me. Hopefully by putting a human face and real person in front of them it at least proves my point that there are better ways to screen people (i.e. a verified traveler type of program being piloted currently). Just because I want to board a plane I shouldn't be considered a terrorist, or treated like one.

 

Don't get me wrong, I'm all for security. My wife works for an airline and as stated above I'm ex-law enforcement, and currently work in a crime lab. Taking bad guys off the street and protecting our citizen's is very important to me. It just has to be balanced within the rights afforded us by the Constitution.

[BobWang]

I'd rather take my chances with an impartial gauge boson than a low-IQ simian.

[foeplay]

Fully endorse it because I love forum drama.

[dnm45227]

I'd rather take my chances with an impartial gauge boson than a low-IQ simian.

What'd he just call me?

[Culpeper Mike]

I'd rather take my chances with an impartial gauge boson than a low-IQ simian.

What'd he just call me?

 

 

probably another name for a wackjob. honestly dude, whining about getting your receipt checked at costco and airport stuff on top of the amex FR complaints. you're about as close to a nutjob on this board as ive seen.

 

i'm surprised you haven't complained about secret chips in your credit cards tracking your every movement and recording everything you say.

Edited December 18, 2011 by Culpeper Mike

[dnm45227]

I'd rather take my chances with an impartial gauge boson than a low-IQ simian.

What'd he just call me?

 

 

probably another name for a wackjob. honestly dude, whining about getting your receipt checked at costco and airport stuff on top of the amex FR complaints. you're about as close to a nutjob on this board as ive seen.

 

i'm surprised you haven't complained about secret chips in your credit cards tracking your every movement and recording everything you say.

Thank you for having an opinion and being honest.

 

Also, sorry OP I did get distracted, albeit in an attempt to qualify my position on the original topic.

 

Nevertheless, just like you have the right to have an opinion about me please respect mine about your tone about my thoughts and personality.

[hegemony]

http://microbiology.mtsinai.on.ca/faq/transmission.shtml

Don't care. If they are going to take the positions of near strip searches and no adherence common to sense when applying screening standards then they are going to look me in the eye and put hands on me. Hopefully by putting a human face and real person in front of them it at least proves my point that there are better ways to screen people (i.e. a verified traveler type of program being piloted currently). Just because I want to board a plane I shouldn't be considered a terrorist, or treated like one.

 

Don't get me wrong, I'm all for security. My wife works for an airline and as stated above I'm ex-law enforcement, and currently work in a crime lab. Taking bad guys off the street and protecting our citizen's is very important to me. It just has to be balanced within the rights afforded us by the Constitution.

 

so do you also avoid walmart, sams club, and most major electronics retailers?