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.

Author Topic: Amex F/R Master Thread  (Read 1875416 times)

Offline Mplace

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Re: Amex F/R Master Thread
« Reply #7380 on: December 01, 2016, 11:57:40 PM »
1-888-800-5234 is the number of the amex fraud deportment,
I understand that, but Usally these things leads to a fr, no?
From experience, when I was fr'd it followed a fraud call (that I called in)
Another time I had a min fr after a fraud (they called me that time)
What's your plan for yud shvat?

Offline mmgfarb

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Re: Amex F/R Master Thread
« Reply #7381 on: December 02, 2016, 12:00:37 AM »
I understand that, but Usally these things leads to a fr, no?
From experience, when I was fr'd it followed a fraud call (that I called in)
Another time I had a min fr after a fraud (they called me that time)
Nothing to do now but call and hope for the best. I hear some people like to pray but YMMV on that count. 
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Mplace

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Re: Amex F/R Master Thread
« Reply #7382 on: December 02, 2016, 12:02:56 AM »
Nothing to do now but call and hope for the best. I hear some people like to pray but YMMV on that count.
why should I call if the cards are working,
O side point, I chatted to verify the it was them
The cs rep told me, he/she doesn't see any notes on the account from the fraud department,
But recommended that I call in just to make sure
What's your plan for yud shvat?

Offline mmgfarb

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Re: Amex F/R Master Thread
« Reply #7383 on: December 02, 2016, 12:03:45 AM »
why should I call if the cards are working,
O side point, I chatted to verify the it was them
The cs rep told me, he/she doesn't see any notes on the account from the fraud department,
But recommended that I call in just to make sure
Definitely call, I don't see anything good coming out of not calling.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Yhgfkj

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Re: Amex F/R Master Thread
« Reply #7384 on: December 02, 2016, 12:15:54 AM »
I understand that, but Usally these things leads to a fr, no?
From experience, when I was fr'd it followed a fraud call (that I called in)
Another time I had a min fr after a fraud (they called me that time)
as I remember at my recent few FR"s i was called with a blocked id , but how knows. hope for the best   

Offline Mplace

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Re: Amex F/R Master Thread
« Reply #7385 on: December 02, 2016, 12:16:59 AM »
as I remember at my recent few FR"s i was called with a blocked id , but how knows. hope for the best
??
What's your plan for yud shvat?

Offline Yhgfkj

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Re: Amex F/R Master Thread
« Reply #7386 on: December 02, 2016, 12:28:30 AM »
??
across my household i managed already like a 10+ fr"s

Offline Mplace

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Re: Amex F/R Master Thread
« Reply #7387 on: December 02, 2016, 12:42:51 AM »
across my household i managed already like a 10+ fr"s
wow, קע''ה
What's your plan for yud shvat?

Offline shulem92

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Re: Amex F/R Master Thread
« Reply #7388 on: December 02, 2016, 10:03:24 AM »
as I remember at my recent few FR"s i was called with a blocked id , but how knows. hope for the best
+1 blocked number

Offline mmgfarb

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Re: Amex F/R Master Thread
« Reply #7389 on: December 02, 2016, 10:58:37 AM »
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Mplace

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Re: Amex F/R Master Thread
« Reply #7390 on: December 02, 2016, 11:03:31 AM »
Just to update all,
I got a call this morning from a non blocked number,
And I answered, was over in one min, just wanted to verify that I used amex checkout
What's your plan for yud shvat?

Offline mmgfarb

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Re: Amex F/R Master Thread
« Reply #7391 on: December 02, 2016, 11:04:45 AM »
Just to update all,
I got a call this morning from a non blocked number,
And I answered, was over in one min, just wanted to verify that I used amex checkout
Great! Dodged a bullet there.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline davidb

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Re: Amex F/R Master Thread
« Reply #7392 on: December 11, 2016, 03:07:45 AM »
I Applied for the delta platinum and made a mistake on the email address on the application. I got approved and 2 days later when i logged in to my amex account, got a message that my account has been canceled. Is this an FR?
Does it have anything to do with putting in the wrong email? Would love some help before i call amex so i know what im in for.

Offline Mplace

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Re: Amex F/R Master Thread
« Reply #7393 on: December 11, 2016, 03:09:12 AM »
I Applied for the delta platinum and made a mistake on the email address on the application. I got approved and 2 days later when i logged in to my amex account, got a message that my account has been canceled. Is this an FR?
Does it have anything to do with putting in the wrong email? Would love some help before i call amex so i know what im in for.
is this the only card affected?
What's your plan for yud shvat?

Offline mmgfarb

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Re: Amex F/R Master Thread
« Reply #7394 on: December 11, 2016, 03:10:03 AM »
I Applied for the delta platinum and made a mistake on the email address on the application. I got approved and 2 days later when i logged in to my amex account, got a message that my account has been canceled. Is this an FR?
Does it have anything to do with putting in the wrong email? Would love some help before i call amex so i know what im in for.
Email won't have anything to do with it. What exactly is the wording of the message when you log in?
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline davidb

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Re: Amex F/R Master Thread
« Reply #7395 on: December 11, 2016, 03:10:18 AM »
The only card under the login.

Offline davidb

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Re: Amex F/R Master Thread
« Reply #7396 on: December 11, 2016, 03:12:07 AM »
Email won't have anything to do with it. What exactly is the wording of the message when you log in?
"Critical account status.
This Account is cancelled".

Offline mmgfarb

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Re: Amex F/R Master Thread
« Reply #7397 on: December 11, 2016, 03:13:26 AM »
"Critical account status.
This Account is cancelled".
Don't think that's an FR but I would call in asap to see what the problem is.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

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Re: Amex F/R Master Thread
« Reply #7398 on: December 11, 2016, 03:36:50 AM »
Just called in and they are requesting the TIN# and structure of the business. Now what?

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Re: Amex F/R Master Thread
« Reply #7399 on: December 11, 2016, 03:38:44 AM »
Just called in and they are requesting the TIN# and structure of the business. Now what?
When you applied did you choose sole proprietorship as the business type?
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy