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

[nysbadmk8]

 

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?

 

 

 

Because they are a Premier Lender. They hold high standards, and having their cards seems to be a prestige thing along with convenience, and benefits.

 

I know If I get a 4506-T I'm not giving it to them. My taxes are between me, and the IRS. If paystubs, and My word doesnt work for them... They can keep their product.

[BobWang]

Well, D*,

 

and B* in spite of C*

 

 

Actually, I don't even need C$,

 

since I'm grandfathered into the only other daily puller.

[mendelssohn]

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

Edited April 29, 2014 by mendelssohn

[cashnocredit]

 

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?

 

 

I like Amex because it lets me charge large amounts. Amounts that have exceeded my total CC CLs. As such, and with regular CC backup, I don't have any concerns about running into a wall when out and about. A 4506-T wouldn't bother me since they are fronting considerable amounts from time to time. OTOH, shutting down my cards without notice at an inconvenient time would bother me and I would probably cancel at that point. It's a tradeoff. I appreciate their flexibility in charging larger amounts but only to a degree. It's their choice as well as mine.

[nysbadmk8]

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

 

Depends upon WHOM you are being honest with.

[mendelssohn]

 

 

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

Depends upon WHOM you are being honest with.

I always use what's on my tax returns.

[nysbadmk8]

 

 

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

Depends upon WHOM you are being honest with.

I always use what's on my tax returns.

 

 

 

Yes, that wasnt what I was getting at.

[mendelssohn]

 

 

 

 

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

Depends upon WHOM you are being honest with.

I always use what's on my tax returns.

 

Yes, that wasnt what I was getting at.

What are you getting at?

[nysbadmk8]

 

 

 

 

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

Depends upon WHOM you are being honest with.

I always use what's on my tax returns.

 

Yes, that wasnt what I was getting at.

What are you getting at?

 

 

 

You might not claim every dollar you make.

[mendelssohn]

 

 

 

 

 

 

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

Depends upon WHOM you are being honest with.

I always use what's on my tax returns.

 

Yes, that wasnt what I was getting at.

What are you getting at?

 

You might not claim every dollar you make.

If I claim what is on my taxes on apps, that is verifiable income if FRed. Of course if your numbers don't match that would be a problem.

[BobWang]

Stating an income to AmEx

 

that doesn't match tax returns,

 

is not advisable.

[nysbadmk8]

 

 

 

 

 

 

D* is enough to make it worthwhile, in addition to all of the other benefits. I was thrilled to get a charge card while rebuilding because I know that once my reports are clean I can add new "old" cards. Now it's a waiting game until I can app for the BCP and SPG.

 

If you are honest about your income apps, I don't think a FR is anything to be afraid of. It may end up helping you get future CLIs.

 

Depends upon WHOM you are being honest with.

I always use what's on my tax returns.

 

Yes, that wasnt what I was getting at.

What are you getting at?

 

You might not claim every dollar you make.

If I claim what is on my taxes on apps, that is verifiable income if FRed. Of course if your numbers don't match that would be a problem.

 

 

 

Like i Said... It depends upon WHOM your being honest with...

 

A person who works in a cash world could make 60K and only claim 30K of it...

 

Doesnt mean he didnt make it... AMEX cant distinguish between the truth.. they can only go off the "lie" if you give them 4506-T.

 

I.E. Anyone in a service industry that relies on tips.

Stating an income to AmEx

 

that doesn't match tax returns,

 

is not advisable.

 

 

It isnt advisable anywhere.. doesnt mean it doesnt happen.

[BobWang]

Boys and girls,

 

don't do that with AmEx.

[nysbadmk8]

Fully agreed. It wont last forever.

[BobWang]

Hi all, I need some unbiased advice before proceeding here.

 

I recently opened a blue cash and used it regularly. I received a targeted 100,000 Platinum signup bonus offer a week or so ago and decided, given I had a trip out of the country coming up, to take advantage of it. I received it in the mail yesterday and was called yesterday afternoon by AMEX.

 

A little about me: I am a graduating law student about to take the bar in July. For the last 3 years, I have been a student and worked during the summers. To live on, I draw $40,000 a year from my family trust fund worth over $1 million. When I signed up for the blue and Plat cards, the applications asked me to list the income I had access to, so I listed it around $20K a year and my assets as over $500,000. I start work as an associate attorney in the late summer, but until then, I will not be making any income from work.

 

Today, I spoke with AMEX and they told me I was chosen for a financial review to see if I can keep up with my spending. I spend no more than $300/month on my BC card and have no balance and pay in full monthly. The woman told me that AMEX considers my income only on my tax returns and requested them from 2013 and 2012. She seemed uninterested in the income I drew from my trust nor the other earner in my household that pays the bills. We did not file jointly.

 

I have 5 days to send in a 4056T form. The rep "promised" me that if it appeared that my account would be closed, she would tell me so I could do it ahead of time, but I'm not sure I trust her. She said they "rarely" close accounts, but they do adjust CL. My CL is only $3K on the card now. I already cancelled my Platinum card - I don't feel like paying $450 for a card they will surely question my expenses, but I am not sure what to do about the BC card.

 

My plan is, if I comply, to send the release in with a letter and copy of my trust account even though the rep said it didn't matter how much money I had in that. It can't hurt my cause. But part of me is simply ticked off and finished with AMEX. I fear that even if I pass this, I will face it again down the road.

 

Should I proceed? OR just cancel all my cards and, if I decide I want an AMEX down the road, reapply when I have 1-2 years of income on my tax return? I want to avoid my credit report getting dinged by having a "closed by issuer" on it when I was in good standing the duration of the account.

 

Just comply with the 4506-T

[zorbachs]

I can't imagine any other outcome than closure if they base my income 100% on my filed tax return. I told the woman on the phone that. In fact, using this method, I could be making $100,000 now and it wouldn't matter.

 

Are you advising I simply send in the form and see what happens? And not include a letter and copy of the trust?

[BobWang]

My little girl also go caught up in the AmEx Platinum AU fiasco.

Her own AmExes were shut down, and AmEx wanted 4506-Ts from her.

She had gone back to school, so her income was a fraction of what she had put on her own AmEx applications.

 

I told her not to comply, since they'd probably end up closing her cards any way.

 

2 years later, she's graduated, married, but has a 1-month old, so part-time income.

I thought that would be good enough to get back with AmEx.

 

Had her app for the Gold Delta SkyMiles, she got the 45,000 mile offer, whereas I'd only gotten 35,000.

Got the 7-10 day message, so she wasn't optimistic.

 

Got her card yesterday, called me up.

Told her, don't be too excited, go log in, and see if you still have a Member Since Date.

Nope, since she no longer had any AmExes.

 

Told her to register & activate the card, but to expect exclamation points on the card icon.

Sur 'nuff.

Told her to expect a 4506-T request to lift the lock.

 

She called today, CSR lifted all restrictions, WITHOUT 4506-T.

Card says "13", but web site has "Member Since 1982", before she was even a glint in someone's eye.

 

Since her name changed, AmEx couldn't match her SkyMiles account number.

CSR told her to change name with Delta, then call back to have card re-issued with "82"

 

Oh, CL $9,900.

Guess AmEx couldn't bring themselves to give her back a 5-digit limit.

 

 

^

[loops77]

I would just ignore it. Sheesh..its a limit that is under 5k. Why do people bother with AMEX? I hear people get 20 softs in a month because of their revolvers.

[BobWang]

Just send the form.

 

Don't include anything else,

 

which will probably get ignored anyway.

 

AmEx is good for certain things later on in your life,

 

and the important thing is you already have a MSY established.

[BobWang]

It's silly to stress over AmEx,

 

when you have lots of money.

[zorbachs]

At any rate, I just got approved for a Chase Freedom card with a $5K CL. They specified that household income was what they wanted. If AMEX closes my blue cash or reduces the CL to something ridiculous, I'm covered.

[cashnocredit]

At any rate, I just got approved for a Chase Freedom card with a $5K CL. They specified that household income was what they wanted. If AMEX closes my blue cash or reduces the CL to something ridiculous, I'm covered.

 

Good move. Most all creditors let you use all income from whatever sources you have. I like your attitude. You have the makings of a good credit risk and a good attorney. Best wishes.

Edited May 8, 2014 by cashnocredit

[zorbachs]

The account manager called me this morning, but I missed the call. I'm waiting for her to call me back.

 

My card is still suspended though, so I'm not sure what to make of it. Either they're going to close my account, they have more questions or they're waiting to talk to me.

 

Oh well. If they don't want my business, Chase will. Looking forward to starting a relationship with them.

[BobWang]

AmEx is very good for certain things.

[BobWang]

I became an AmEx cardmember in 1982.

 

Platinum was released as a "by Invitation Only" card in 1984.

 

I was one of the first Platinum cardholders.

 

AmEx still booted me,

 

so I no longer use their cards,

 

except for D*