Topic Wiki

1)   What is a Financial Review?
In short - American Express occasionally freezes the credit card accounts of individuals with high-risk patterns, or for new account holders.
They request a lot of personal information, such as IRS tax returns, bank statements, letters from Banks ect…

Let’s break it down into 2 different types of Financial Reviews
A)   Mini Financial Review
B)   Financial Review

A)   Mini Financial Review
(please fill in info) This form of financial review, is usually a short process, it could be as short as one phone call. American Express might feel a need to verify your finances for whatever reason, and they could call you to verify information. Your accounts could be suspended from using until you get in touch with them, typically they will restore your accounts after a simple phone call.

B)   Financial Review
This type of Financial Review is very common. It often happens when opening a new account for the first time, usually if you are opening a Charge Card, or a Business Card or if on a new account you start off will a lot of high spending.
American Express will suspend your account/s, they will not remove the suspension until the review is over, which takes around 2 weeks.

If you cannot provide the required information, shut down your account right away.

2)   Triggers
Look below for a list of triggers and links.
 
3)   What will happen?
Your accounts will get suspended. You will be able to log in online, and see account activity, but you will get a message that charging is suspended.

They will contact you via phone and email. Once you get in touch with them, (typically) you will be assigned a specific representative to work on your case.

The will require mainly IRS Tax returns. The point of a Financial Review is to verify your income. They may also require Back statements, a letter from a Bank to verify your address, and other documents. People have reported that they did survive a Financial Review with just bank statements.

As long as you could provide the documents they request you will be fine, they might lower your credit lines, but you should be able keep your account open. Even as low as a $6000 tax return people have been able to survive a Financial Review.

In cases of a Financial Review after opening a Business Card, you will need proof of Business income.

If you cannot provide the required information, shut down your account right away.

As long as you could provide the documents they request you will be fine, they might lower your credit lines, but you should be able keep your account open. Even as low as a $6000 tax return people have been able to survive a Financial Review.

4)   What Steps Should I take?
Get in touch with Amex as soon as you could. Send in the request inform promptly. You will have a rep that will be working with you, and telling you what documents are needed. 4506-t is a transcript request from the IRS for you last tax return. You will need to fill out this form, fax it to Amex, it will take them 24-48 hours until they receive this form, they will request the tax return from the IRS that could take about a week.

Important: you only have 2 attempts to send them the fax, if they reject it after 2 attempts you will get shut down. You don't get more than 2 attempts. (source)
You may be able to get 3 attempts if you ask for a manager.

You need to be on top of it, if you don’t follow thru, they could shut your accounts down.


5)   What to do if American Express closed your accounts?
Once American Express closes your accounts, the only way to get back on is if you have the required information needed to pass a Financial Review. They will require you to request a 4506 form from the IRS (which will cost you $57) before they even approve any of your future applications.


To start you may want to read up here:

F/R triggers:[/color]

Credit line of $25k or more
http://www.dansdeals.com/forums/index.php?topic=1438.msg10906#msg10906

Family member receiving FR can cause other family members to get Fr'ed as well
http://www.dansdeals.com/forums/index.php?topic=6223.msg74003#msg74003 http://www.dansdeals.com/forums/index.php?topic=8.msg24759#msg24759

Living at same address as someone who was FR'ed
http://www.dansdeals.com/forums/index.php?topic=8.msg77046#msg77046

Using majority of CL
http://www.dansdeals.com/forums/index.php?topic=7526.msg87716#msg87716

Large cash advance
http://www.dansdeals.com/forums/index.php?topic=5908.msg82906#msg82906

Nothing...
http://www.dansdeals.com/forums/index.php?topic=2723.msg30062#msg30062

Changing name on business card
http://www.dansdeals.com/forums/index.php?topic=3589.msg38101#msg38101

Mint purchases
http://www.dansdeals.com/forums/index.php?topic=146.msg22932#msg22932

Amex Gift Card Purchases
http://www.dansdeals.com/forums/index.php?topic=2422.msg26670#msg26670
http://www.dansdeals.com/forums/index.php?topic=8.msg40106#msg40106

Unusual spending
http://www.dansdeals.com/forums/index.php?topic=8.msg7627#msg7627
http://www.dansdeals.com/forums/index.php?topic=3710.msg39597#msg39597

Amazon payments (possibly)
http://www.dansdeals.com/forums/index.php?topic=3657.msg88656#msg88656
http://www.dansdeals.com/forums/index.php?topic=3524.msg42436#msg42436

Using close to reported income
http://www.dansdeals.com/archives/2537

Logging in online too much (!)
http://www.dansdeals.com/forums/index.php?topic=8.msg13741#msg13741

Prepaying
http://www.dansdeals.com/forums/index.php?topic=1712.msg13732#msg13732
http://www.dansdeals.com/forums/index.php?topic=3710.msg39725#msg39725

Adding Cardholders (many?)
http://www.dansdeals.com/forums/index.php?topic=8.msg49318#msg49318

Refunds exceeding total payments made on the card since it was opened
http://forums.dansdeals.com/index.php?topic=8.msg845606#msg845606
[/font]
Though not exactly F/R, it's worth mentioning that Amex takes returned payments very seriously.
They often shut all accounts without going through the F/R process.
« Last edited by JACKSASSONBK on February 16, 2017, 06:19:07 PM »

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Author Topic: Amex F/R Master Thread  (Read 1877131 times)

Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3900 on: April 28, 2015, 06:45:37 PM »
Quote from: yitrap on April 28, 2015, 06:41:16 PM
As I said, I've never had issues even with clear female names

ETA: no, I don't have a high pitch voice....
Yep total non issue. Sometimes they sound skeptical but there's nothing to do. You are who you say who are.
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Offline mawmaw

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Re: Amex F/R Master Thread
« Reply #3901 on: April 28, 2015, 06:51:30 PM »
guys keep in mind that you are discussing fraud in a forum that open to anyone including bank institutions  :-X
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Offline benjie1305

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Re: Amex F/R Master Thread
« Reply #3902 on: April 28, 2015, 06:54:09 PM »

Quote from: mawmaw on April 28, 2015, 06:51:30 PM
guys keep in mind that you are discussing fraud in a forum that open to anyone including bank institutions  :-X

And so is the rest of this forum..
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Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3903 on: April 28, 2015, 07:52:31 PM »
Quote from: mawmaw on April 28, 2015, 06:51:30 PM
guys keep in mind that you are discussing fraud in a forum that open to anyone including bank institutions  :-X
Fraud? What shaychas? If your wife or anyone authorizes you to call there's nothing wrong at all.
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Offline JayR

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Re: Amex F/R Master Thread
« Reply #3904 on: April 28, 2015, 07:54:20 PM »
Quote from: Aj3042 on April 28, 2015, 07:52:31 PM
Fraud? What shaychas? If your wife or anyone authorizes you to call there's nothing wrong at all.
Then why not just answer truthfully when the rep asks who they're talking to?
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Offline TimT

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Re: Amex F/R Master Thread
« Reply #3905 on: April 28, 2015, 07:55:19 PM »
She needs to tell the rep that.
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Offline Malachi

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Re: Amex F/R Master Thread
« Reply #3906 on: April 28, 2015, 07:56:12 PM »
Quote from: JayR on April 28, 2015, 07:54:20 PM
Then why not just answer truthfully when the rep asks who they're talking to?
Because they make you problems. They need to speak to my wife and very often she's not there.
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Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3907 on: April 28, 2015, 08:00:13 PM »
Quote from: TimT on April 28, 2015, 07:55:19 PM
She needs to tell the rep that.
Officially. But that doesn't mean not doing so is fraud. Legally while it may be untruthful (maybe) it's definitely not "fraud".
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Offline pixi

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Re: Amex F/R Master Thread
« Reply #3908 on: April 28, 2015, 08:02:48 PM »
I always call for my wife's account,  I never had any issues.
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Offline pixi

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Re: Amex F/R Master Thread
« Reply #3909 on: April 28, 2015, 08:04:21 PM »
Quote from: Aj3042 on April 28, 2015, 08:00:13 PM
Officially. But that doesn't mean not doing so is fraud. Legally while it may be untruthful (maybe) it's definitely not "fraud".
Right!
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Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3910 on: April 28, 2015, 08:05:40 PM »
Quote from: pixi on April 28, 2015, 08:02:48 PM
I always call for my wife's account,  I never had any issues.
Your wife? Or you mean your husband? ;D ;D
(Let's turn this thread too into pixi identity thread)
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Offline pixi

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Re: Amex F/R Master Thread
« Reply #3911 on: April 28, 2015, 08:15:02 PM »
Quote from: Aj3042 on April 28, 2015, 08:05:40 PM
Your wife? Or you mean your husband? ;D ;D
(Let's turn this thread too into pixi identity thread)
How long still will you try to figure out my identity? 
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Offline pixi

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Re: Amex F/R Master Thread
« Reply #3912 on: April 28, 2015, 08:16:59 PM »
Quote from: Aj3042 on April 28, 2015, 08:05:40 PM
(Let's turn this thread too into pixi identity thread)
So basically you are  trying to turn all threads into "pixi 's identity" thread, you gotta rename it first.
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Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3913 on: April 28, 2015, 08:17:29 PM »
Quote from: pixi on April 28, 2015, 08:15:02 PM
How long still will you try to figure out my identity?
Until it's been figured out.  ;)
Seriously though let's not take this too OT like the RC thread.
Quote from: pixi on April 28, 2015, 08:15:02 PM
How long still will you try to figure out my identity? 
No we'll leave it to the RC thread.
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Offline rileywiles23

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Re: Amex F/R Master Thread
« Reply #3914 on: April 28, 2015, 08:17:55 PM »

Quote from: pixi on April 28, 2015, 08:15:02 PM
How much longer, will you keep on trying,  to figure out my identity?
FTFY
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Offline yitrap

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Re: Amex F/R Master Thread
« Reply #3915 on: April 28, 2015, 08:18:15 PM »
Quote from: Aj3042 on April 28, 2015, 08:05:40 PM
Your wife? Or you mean your husband? ;D ;D
(Let's turn this thread too into pixi identity thread)

haha sneaky move by pixi, nice catch ;)
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Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3916 on: April 28, 2015, 08:18:47 PM »
Quote from: rileywiles23 on April 28, 2015, 08:17:55 PM
FTFY
You added an extra comma (the second one).
Quote from: yitrap on April 28, 2015, 08:18:15 PM
haha sneaky move by pixi, nice catch ;)

LOL the whole RC oilam is flocking here for the fun.
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Offline JayR

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Re: Amex F/R Master Thread
« Reply #3917 on: April 28, 2015, 08:21:07 PM »
Break is over guys, can everyone please quietly go back to the REDcard thread. Thanks :)
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Offline yitrap

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Re: Amex F/R Master Thread
« Reply #3918 on: April 28, 2015, 08:22:34 PM »
Quote from: JayR on April 28, 2015, 08:21:07 PM
Break is over guys, can everyone please quietly go back to the REDcard thread. Thanks :)

Yes mommy, ok mommy, sorry mommy :P

It's really not my fault Aj brings it out in me...
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Offline Aj3042

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Re: Amex F/R Master Thread
« Reply #3919 on: April 28, 2015, 08:36:17 PM »
Quote from: yitrap on April 28, 2015, 08:22:34 PM
Yes mommy, ok mommy, sorry mommy :P

It's really not my fault Aj brings it out in me...
Me?!?!?!?  ;)
But seriously I agree with
Quote from: JayR on April 28, 2015, 08:21:07 PM
Break is over guys, can everyone please quietly go back to the REDcard thread. Thanks :)
One thread (RC) is enough... :D
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