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Valued Member
Posts: 43
Registered: ‎10-15-2007
0

AMEX FR Outcomes

Since I just went through this I thought it would be good to start a thread of the actual outcomes of a FR to help others that might be going through it!

 

 

Type of AMEX: Zync

Open:  1.5 months ago

Cause:  I was told due to excesive inquires (bought a truck)

Information requested:  IRS transcripts

How long did it take to complete: Almost 3 weeks

Outcome:  They called and emailed to state they put a $3000.00 limit - then called 3 days later to say they made a mistake (you know my heart sank)...increased the limit to $5000.00??!!  Strange but I'll take it.

 

I am hoping it does not happen again, even though the process was painless...the suspension is a pain.  And I have learned to carry a backup card especially if on vacation :smileyhappy:

I am also interested to hear if people have been FR'ed more than once. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Regular Contributor
Posts: 123
Registered: ‎01-15-2009
0

Re: AMEX FR Outcomes

I have  nothing to contribute--I just wanted to thank you for doing this, I think that it will be of interest to many!

All 3 bureaus (per Amex CreditSecure FAKO) are still 748 (as of 12/19/13). Cards: Discover It, $12,100, Chase Freedom $3,300, Chase Amazon $1,500, Walmart store $11,000, AMEX Zync NPSL, Costco Amex $14,700. US. Bank Cash +, $5,000. AMEX SPG $6,000, PenFed Plat. Cash Rewards $17,500, PenFed P-LOC $10,000, Citi Forward $5,100, Chase Slate $5,000, Old Navy, $2,200.
Valued Contributor
Posts: 1,292
Registered: ‎08-19-2012
0

Re: AMEX FR Outcomes

how many new inquirys did you have and in how short of a span?

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Valued Member
Posts: 43
Registered: ‎10-15-2007
0

Re: AMEX FR Outcomes

I only went to one dealer and everything was done on the same day.  Looking at my Credit Karma it looks like they submitted my application to every bank...lol.  Total was 10, however it should only count as 1 for credit scoring purposes, but I guess Amex looks at it differently.

Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
0

Re: AMEX FR Outcomes

You know, everyone says mortgage/auto loan apps only count as one if done within a two week period for FICO scoring reasons, but idk how true this is....and even if it is true... I think it might be better to get financing prior to going to the dealership. I hate the thought of taking 10 hps just to buy a vehicle. Gah, that just sucks!!!!! Sorry you went through that. Clearly lenders do not view auto loan/ mortgage loan apps as one..
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Posts: 2,266
Registered: ‎07-23-2012
0

Re: AMEX FR Outcomes

i had about 12 inq on 8/30/12 amex being my last. 

dealership pulled all 3 of my reports then toyota pulled all three of my reports 

amex pulled all three of my reports. 

 

still no fr though. maybe since they were last? 

 

question? when they did how do you get transcripts? 

 

i personally use turbotax and do my own taxes. and my income was slightly less last year since i started a new job in may/june. but i have stubs to prove of the increase in income. would that suffice? 

Current: Discover Fico 701 3/15 Walmart Fico 684 1/15

Inquiries (24 Months): EQ 5 TU 1 EX 1 | Most Recent: 03/23/2015
Over 12 Months:6


2014 Goals:
Lower Utility
15% right now, but going up soon :smileysad:
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$6400
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Member
Posts: 43
Registered: ‎10-15-2007
0

Re: AMEX FR Outcomes

They send you the form to fill out.   You have only 5 days to complete.  They prefill most of it and send you details instructs on how to fill out the rest.  You then send in the completed form to American Express, they submit it to the IRS.  There is no fee and it's only one piece of paper you need to fill out and sign. When filling out my application I stated my current income - which does not match what the IRS has from last year due to new job and increased income.  It appears it was not an issue since they did not ask for any proof of my current income.  (I had my paystubs ready...lol).

Valued Contributor
Posts: 1,292
Registered: ‎08-19-2012
0

Re: AMEX FR Outcomes

The banks still see all the inquirys and still use them to judge you, it's just fico counts them as one as far as your score goes... Two separate things

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
0

Re: AMEX FR Outcomes

Eh... That's why I'd just rather buy a cheap car with cash or NOT let the dealer find my financing. LOL...

Eeekkk amex fr scares me. Lol
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012
0

Re: AMEX FR Outcomes

Has anyone heard of amex doing frs because of new student loans reporting?!? Mine for this semester just started reporting :-/
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
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