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 1855936 times)

Offline afro

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Re: Amex F/R Master Thread
« Reply #6120 on: December 19, 2015, 06:50:18 PM »
Email just came in- reduction on all cards  :( I guess I'm gonna use Chase for the next while.
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Offline David Smith

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Re: Amex F/R Master Thread
« Reply #6121 on: December 19, 2015, 06:52:54 PM »
Quote from: afro on December 19, 2015, 06:49:17 PM
I actually got a call from Raul because Amy is gonna be out of the office.
Send Raul my regards.
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Offline youkay

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Re: Amex F/R Master Thread
« Reply #6122 on: December 19, 2015, 07:54:14 PM »

Quote from: afro on December 19, 2015, 06:49:17 PM
I actually got a call from Raul because Amy is gonna be out of the office.
Amy Bradshaw?
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Offline Mplace

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Re: Amex F/R Master Thread
« Reply #6123 on: December 19, 2015, 08:48:14 PM »
We should have a list of all the names and direct extentions ;-)
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Offline David Smith

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Re: Amex F/R Master Thread
« Reply #6124 on: December 19, 2015, 08:50:00 PM »
Quote from: Mplace on December 19, 2015, 08:48:14 PM
We should have a list of all the names and direct extentions ;-)
We very much shouldn't.
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Offline Mplace

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Re: Amex F/R Master Thread
« Reply #6125 on: December 19, 2015, 08:52:34 PM »
Then we can have the free home Security system call them 8)
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Offline LoLo

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Re: Amex F/R Master Thread
« Reply #6126 on: December 19, 2015, 11:56:34 PM »
Wooo, my back is breaking, just finished reading the last 30 pages.. got the dreaded FR email on wife's account last thursday  >:(
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Offline youkay

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Re: Amex F/R Master Thread
« Reply #6127 on: December 19, 2015, 11:57:25 PM »

Quote from: LoLo on December 19, 2015, 11:56:34 PM
Wooo, my back is breaking, just finished reading the last 30 pages.. got the dreaded FR email on wife's account last thursday  >:(
Good luck!
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Offline afro

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Re: Amex F/R Master Thread
« Reply #6128 on: December 20, 2015, 12:51:09 AM »
Quote from: youkay on December 19, 2015, 07:54:14 PM
Amy Bradshaw?

yup #30017 (attachment)

I've gotten Jane Ramos before #30079
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Re: Amex F/R Master Thread
« Reply #6129 on: December 20, 2015, 12:55:21 AM »

Quote from: afro on December 20, 2015, 12:51:09 AM
yup #30017

I've gotten Jane Ramos before #30079
In the beginning i had another rep that was pretty nasty but somehow i got to her. She was extremely nice to me, although i dont know how much is in her power. Bh im over it!
Send her my best!
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Offline afro

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Re: Amex F/R Master Thread
« Reply #6130 on: December 20, 2015, 12:57:34 AM »
i wished she would of finished my case, Saul killed me- he reduced me to 9k per card (3 cards)
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Offline David Smith

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Re: Amex F/R Master Thread
« Reply #6131 on: December 20, 2015, 02:01:59 AM »
Quote from: afro on December 20, 2015, 12:57:34 AM
i wished she would of finished my case, Saul killed me- he reduced me to 9k per card (3 cards)
Do you mean Raul?
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Offline Yehuda25

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Re: Amex F/R Master Thread
« Reply #6132 on: December 20, 2015, 02:06:24 AM »
Quote from: afro on December 20, 2015, 12:57:34 AM
i wished she would of finished my case, Saul killed me- he reduced me to 9k per card (3 cards)
your lucky, they do 3k to a lot of people.
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Offline afro

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Re: Amex F/R Master Thread
« Reply #6133 on: December 20, 2015, 02:16:18 AM »
Quote from: David Smith on December 20, 2015, 02:01:59 AM
Do you mean Raul?

yes
Quote from: Yehuda25 on December 20, 2015, 02:06:24 AM
your lucky, they do 3k to a lot of people.

thanks but last month I spent 300k
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Offline emjee

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Re: Amex F/R Master Thread
« Reply #6134 on: December 20, 2015, 02:31:36 AM »
Quote from: Yehuda25 on December 20, 2015, 02:06:24 AM
your lucky, they do 3k to a lot of people.
Yup...
« Last Edit: December 20, 2015, 03:54:32 AM by emjee »
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Offline David Smith

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Re: Amex F/R Master Thread
« Reply #6135 on: December 20, 2015, 02:38:45 AM »
This discussion of fr team members is unhealthy.
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Offline emjee

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Re: Amex F/R Master Thread
« Reply #6136 on: December 20, 2015, 03:55:56 AM »
Quote from: David Smith on December 20, 2015, 02:38:45 AM
This discussion of fr team members is unhealthy.
Yeah..ur Def right about that. edited  that one
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Offline afro

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Re: Amex F/R Master Thread
« Reply #6137 on: December 20, 2015, 10:58:18 AM »
Quote from: David Smith on December 20, 2015, 02:38:45 AM
This discussion of fr team members is unhealthy.
Why?
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Offline DMYD

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Re: Amex F/R Master Thread
« Reply #6138 on: December 20, 2015, 11:22:20 AM »
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Offline yakrot

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Re: Amex F/R Master Thread
« Reply #6139 on: December 20, 2015, 11:48:43 AM »

Quote from: afro on December 20, 2015, 10:58:18 AM
Why?
its common for ppl to google their name
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