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Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009

Re: amex cli

[ Edited ]

trumpet-205 wrote:

Anything after $25,000 triggers FR. Do you even need to have a CL of $35,000?


Not necessarily.  There are plenty of people that have reported getting CLIs above $25K without having to provide proof of income or taxes.  I was given an auto CLI above that without having to provide anything.  I know auto CLI is different, but there are plenty of threads with people reporing asking for more than $25K and having it instantly approved.  So, while it is common to have to provide additional information, it's not true that anything after $25K triggers it.

 

Also, while I understand that FR literaly just means financial review, and having to provide a 4506-T is financial review, to avoid confusion I think we should shy away from calling this FR.  It's not the same full-blown, suspend all accounts, mandatory compliance FR that Amex does in other situations.  My understanding is that if this happens, you can refuse to supply the info and you just won't get the CLI.  Unlike the other FR where you must provide the info or your accounts will be closed. 

 

[Edited for spacing.  I don't understand why it sometimes groups my paragraphs together, and other times recognizes the breaks.]


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: amex cli

[ Edited ]

Walt_K wrote:

trumpet-205 wrote:

Anything after $25,000 triggers FR. Do you even need to have a CL of $35,000?


Not necessarily.  There are plenty of people that have reported getting CLIs above $25K without having to provide proof of income or taxes.  I was given an auto CLI above that without having to provide anything.  I know auto CLI is different, but there are plenty of threads with people reporting asking for more than $25K and having it instantly approved.  So, while it is common to have to provide additional information, it's not true that anything after $25K triggers it.

 

Also, while I understand that FR literally just means financial review, and having to provide a 4506-T is financial review, to avoid confusion I think we should shy away from calling this FR.  It's not the same full-blown, suspend all accounts, mandatory compliance FR that Amex does in other situations.  My understanding is that if this happens, you can refuse to supply the info and you just won't get the CLI.  Unlike the other FR where you must provide the info or your accounts will be closed. 


Right, at the bottom of the letter is a note that if they don't hear from me within 30 days, they will give no further consideration to the request.

Valued Contributor
Epcot
Posts: 2,783
Registered: ‎10-10-2012

Re: amex cli

Keep us posted!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: amex cli


Epcot wrote:
Keep us posted!

No news yet (just faxed in the form yesterday and the IRS says it may take up to 10 days to provide the data to Amex, so I am expecting quite a wait) but they did decide to overnight new cards to me, changing my Member Since from 2007 to 1987.   Regular mail would have been good enough!

 

For AAoA purposes, trying to understand the impact of backdating.  This is calculated over all reporting accounts, open and closed right?   I was amazed to see how much stuff there is on my credit report, both EQ and TU show 31 accounts, mainly closed, reporting, with  AAoA 7 years, with 23 years of credit history.  So I guess this backdating adds 20 years over 31 accounts, or about 8 months on average.  But what about years of credit?  Will it go to 25 years of credit, even though I cancelled the card aroun 1989 and didn't open another Amex until 2007?

 

Thanks

Contributor
maceto
Posts: 94
Registered: ‎07-17-2012

Re: amex cli

Yea got 30 without (at least so far) no proof of income. But high spending and payments in full like clockwork probably puts me in the green zone. When there are changes to spending etc it will trigger stuff
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: amex cli


Epcot wrote:
Keep us posted!

Havent heard officially from Amex but today on the website I see my CL is now $28K.  Not the 35 I wanted, but something. This brings a total of 38K added in the last two months (added 55K and closed one 17K card).


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