FR - Income stated was calculated based on new job

[doublejay]

A friend got an FR (applied for platinum - came in mail - called to activate and they said they are FRing him).

He is a rebbi. He wrote 50k for income b/c he accepted a job for the coming year that will bring his household income to that level. His previous year tax returns will only show about 20-25k.

Should he weather the FR and send in info plus a letter about upcoming job etc.?

or

Cancel the application and avoid the FR?

Any advice appreciated.

p.s. I believe this is his first Amex card

[myb821]

Send in irs and speak to fr dept and tell them what's going on

[Dan]

Should he weather the FR and send in info plus a letter about upcoming job etc.?

+1

[elikay]

Send in irs and speak to fr dept and tell them what's going on

+1
though they probably will still lower the limits, but at least he can explain.

[Yisha]

Cancel the application and avoid the FR?

never cancel a app because of this, the worst thing that they can do you is but limits on your spending, and even this can be changed by the time as you start earning more or just for good behavior.

and you have to take in consideration that even if you cancel the card they wont recover your hard inquiry from experian, besides the point that you loose the 100K offer.

[doublejay]

I don't have details at this moment but from what I have heard he survived the FR but they lowered his spending limit.

...just like you guys predicted.

Thx

[yossi4k]

Apparently when one is FRd he doesn't have to prove the income stated on the app as that is his household income. As long as he can prove some sort of income which    is not drastically different than what stated on the app he should survive.

[doublejay]

Another friend got FR'd. This one is more sticky.

The person is supported by parents and has a business based out of the country that isn't reported on US tax returns.

Any way to show that they are financially sound besides IRS? Some sort of bank acct. statement or something?

or are they dead-in-the-water and might as well cancel their cards?