Author Topic: Amex F/R Master Thread (Read 1857327 times)

MOSES · « **Reply #140 on:** March 03, 2010, 08:40:05 AM »

Quote from: Dan on March 02, 2010, 09:56:05 PM

Do you have an income last year or no?

I just got an FR. The reason being because some stupid manager promised me a relocation of credit lines. then they changed their rule about it with the new cc rules and they did not want to honor it even though they told me that it was done. I spent an hour on the phone with them and they did not budge. I told them that I had already given a vendor my card to use because the rep had told me that the credit line relocation was complete. anways.... the manager submitted a credit line increase on a brand new account. btw this is a business card with a tax id number. anyways I tried to make a payment to the account for more than the balance so I could us it and get the starpoints. they said that they had to verify who i was with another dept. the FR dept got on the line (I did not realize what dept I was talking to) they asked me my annual income. and then they said they wanted to see my business tax returns. and they emailed me the form to fill out 4506T. anyways She told me on the phone that they only had to see by business financials, and now I think the form she emailed me includes personal. I have 4 cards. 2 personal starwood (one from 08 and one from jan of this year) and 1 business starwood (got in jan of this year) and one gold charge that I received less than a month ago and doubt if I will ever see the bonus MR points. my total credit limit was 11.000 plus the charge card. Should I cancel all and wait two months or is their another option. I inclued my paraents income when I applied for the card.

MOSES · « **Reply #141 on:** March 03, 2010, 01:39:26 PM »

ANYONE PLS

Mikeoracle · « **Reply #142 on:** March 04, 2010, 08:29:29 PM »

B"H my F/R is done and my amex cards are up and running again, so I want to relate my experience for others reference.
First of all I found out what triggered my F/R, it seems a charge of just over the available credit was denied and when the card was charged again for a few hundred dollars less just under the limit and went through, that triggered the F/R (a long story how this happened...).
Also it seems that there are obviously different levels of F/R as I did not need to send in a 4506T and only needed to fill out a bank account verification form they emailed me that I needed to have my bank fill in the current balance and 6 month average for up to 2 accounts and fax it in. When I asked her if there was any risk in having my accounts closed she said only if the form is not sent back they might have to evaluate and close accounts if necessary, but if I fill out the form she was adamant that they appreciated and wanted my business and it was just procedure that had to be followed and possibly credit limits might be adjusted.
Also it seems they dont mind if you pay your bill from someone else's bank account as i explicitly told them that when they told me to fill out the bank form explaining that my bank account wont reflect all the amounts that i put on the card and pay since my "clients" pay my card directly. She said she understands but in order to determine that I can pay the amounts that I charge they cant rely on anything else except for what I show in my bank accounts.
Since I had 8 days to return the form I made sure to quickly deposit anything I can get my hands on that I would be depositing in the near future and once they cleared I had the form filled out and sent in, this was Friday and by Wednesday morning the hold on my account was lifted with the only change being the credit lowered on one of my personal cards from 35K to 12K. My other personal cards and my business card stayed the same.

If anyone has any questions, let me know.

MOSES · « **Reply #143 on:** March 09, 2010, 05:45:04 PM »

HEY GUYS. THANKS FOR ALL YOUR HELP.

My FR is done. I SURVIVED. What triggered it was my business card (the card is on a TAX IS not a sol proprietor). They wanted to see my business tax returns from 08. I told her that the corp was opened in september 2008 and they was not much action in 08. we went back and forth. I wanted to show her my bank statements instead and she said she needs the returns, she was a very nice person BTW....
What eventually saved my tush was that my father declared me as a dependent in 2008. After she found that out she said to send in my last 3 months of my business bank statements ( the account I had been using to pay the card. I sent them in and she cleared the account within the hour. (the December one wasn't so hot but the other ones were ok) she also asked me a lot about the kind of business that I am running... etc.
anyone have a questions, let me know. I am willing to talk on the phone and give advise from my experience.

flyer11204 · « **Reply #144 on:** March 14, 2010, 11:28:59 PM »

I was a member of amex since 2006 (at a young age). I had five cards totaling about 100k in limits. Two years later they shut me down for financial review and I did not send in the required paperwork. A little over a year later I reapplied and was immediately asked for my tax documents. I sent them in stating my current annual income at 40k (sent in May 2009) . I currently have a gold, a platinum, and a starwood with a $4500 limit and typically with my additionals wrack up about 15-20k a month on the gold and platinum each and full balance on the starwood and it is also paid in full every month.

Is this situation asking for another financial review?

Any suggestions? Should I rather open a corporate card for this amount of transactions? Any other ideas welcome.

MOSES · « **Reply #145 on:** March 15, 2010, 05:42:31 AM »

If you done mind forking over the docs, why are you afraid of a financial review?

flyer11204 · « **Reply #146 on:** March 15, 2010, 09:54:24 AM »

cuz i only make 40k and i use about 30k a month

flyer11204 · « **Reply #147 on:** March 15, 2010, 10:11:59 PM »

anyone?

Dan · « **Reply #148 on:** March 15, 2010, 10:37:17 PM »

Yes, it does sound like you are setting yourself up for another F/R.
Maybe shift some spending to a non-amex if you are scared of getting one?

D.S. · « **Reply #149 on:** March 16, 2010, 04:20:38 AM »

I got notified by AmEx of a F.R., and I preemptively closed all 3 of my cards rather than deal with it. I am dying to open a Starwoods card, but I am in no position to be sending in papers. Is there any chance I will not be immediately asked for my papers? A couple of years have gone by.

MOSES · « **Reply #150 on:** March 16, 2010, 05:30:08 AM »

You should be ok. they say 3 months in enough

SuperFlyer · « **Reply #151 on:** March 16, 2010, 08:14:02 AM »

Repaying a couple of $ more then you spend seems to be a sgula for credibility...

ChaimB · « **Reply #152 on:** March 21, 2010, 11:22:01 PM »

when I was just out of the Country Amex tried to contact me been with them yrs. Yep the FR. Only i havent been spending anything near my limit of 55k, alot closer to 1k

They emailed me and I called and explained out of Principle i wont send anything in. I asked how after over 10 yrs w/o any problems you are now asking for this info. She said I shouldnt take it personally as there wasnt any Red Flags. I said I do take it very personally and I would Never traet any of my clients/customers in such a way

She said she will note everything and why I was refusing to submitt the documents and that I would be heaqring from amex when they reach a decission.

Dont think they will shut me down only lower my limits from the 55k they gave raised me to last March w/o my asking

Yea I did a nice amount of coins but it was loaded down with alot of reg charges as well.

emptied my MR acct out even thou that CC wasnt being questioned. So it seems from the agent Amex is going thru their accts and just wanting to make sure that whatever limits they gave to someone can be backed up.

SuperFlyer · « **Reply #153 on:** March 22, 2010, 06:41:43 AM »

they are just tightening everything lately, as they are scared of people being unable to repay because of the crisis.

MOSES · « **Reply #154 on:** March 22, 2010, 07:10:09 AM »

Quote from: SuperFlyer on March 22, 2010, 06:41:43 AM

they are just tightening everything lately, as they are scared of people being unable to repay because of the crisis.

a week after I got my FR they lowered one of my credit limits from 6k to 1k. I had to send them bank statements in order for them to revert the change.

SuperFlyer · « **Reply #155 on:** March 22, 2010, 02:41:52 PM »

Quote from: MOSES on March 22, 2010, 07:10:09 AM

a week after I got my FR they lowered one of my credit limits from 6k to 1k. I had to send them bank statements in order for them to revert the change.

thats what Im talking about, I could get around $500k by amex, but the party is over.

MOSES · « **Reply #156 on:** March 22, 2010, 05:59:56 PM »

Quote from: SuperFlyer on March 22, 2010, 02:41:52 PM

thats what Im talking about, I could get around $500k by amex, but the party is over.

you can still get 500k, or you used to be able to?
I got the reverse reverted thank g-d!

SuperFlyer · « **Reply #157 on:** March 22, 2010, 07:00:57 PM »

I used to be able to get, only a few month ago.

dvwing · « **Reply #158 on:** June 07, 2010, 11:06:29 PM »

I opened a 2 new AE Starwood cards a week ago, made a bunch of charges, and then one to the US Mint for $3,000. My account got flagged apparently and I got a call today from FR. They said not everyone gets FR, but it is not random either. No reason why. I submitted the form for the tax review today. Now it's wait, wait, wait. Any suggestions?

dvwing · « **Reply #159 on:** June 07, 2010, 11:32:14 PM »

How long did it take from the time you got the call for the financial review till it was all cleared?

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Author Topic: Amex F/R Master Thread (Read 1857327 times)