AMEX Financial Review

[Anonymous]

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@Anonymous wrote:
The only thing I can think of is I just opened two revolving lines with them and had a large purchase on one of them. The large purchase is going to be reimbursed my my client (large purchase was on our business card). That's the only thing I can think of....two lines open and a large purchase.

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If the purchase was significantly out of the realm for what your income would indicate that you could pay back then that's definitely it.  Purchases at an amount outside normal ranges will definitely trigger an FR or request for 4506T.  (They are different).

[Anonymous]

You have $20K in total lines. I have $20K in total lines, (actually 19.6). You're self employed. I'm self employed. Your 2014 tax return shows $73K in income. Mine shows half that. You'll be fine.

[Anonymous]

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@Anonymous wrote:

You have $20K in total lines. I have $20K in total lines, (actually 19.6). You're self employed. I'm self employed. Your 2014 tax return shows $73K in income. Mine shows half that. You'll be fine.

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Holy, half of that? Did you have to send a 4906T to amex yet?....Wonder how that would play out.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

You have $20K in total lines. I have $20K in total lines, (actually 19.6). You're self employed. I'm self employed. Your 2014 tax return shows $73K in income. Mine shows half that. You'll be fine.

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Holy, half of that? Did you have to send a 4906T to amex yet?....Wonder how that would play out.

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It would play out fine since when I apped I used my exact income.

[NRB525]

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@Anonymous wrote:
The only thing I can think of is I just opened two revolving lines with them and had a large purchase on one of them. The large purchase is going to be reimbursed my my client (large purchase was on our business card). That's the only thing I can think of....two lines open and a large purchase.

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Please define "large". $10k? $50k?

The FR will be a baseline, but the real thing they are watching for is the payment. By the time the FR is even looked at the payment should be done, right? Payment within about 30 days from now?

[Anonymous]

The account was only open for about a week. The reimbursement from the client will be this weekend. Just to clarify, we purchased product for our client to use at their holiday party since we have a vendor and get a more preferred rate than they could get. So the full balance will be paid next week and we can make the payment. Actually we could make the payment now. The charge was $1500, so I don't know if AMEX considers that large compared to a $10k limit. Since the account was open only a week before the FR, we haven't made a payment yet.

Would it help if I paid off both cards during the FR? Would that benefit me?

[Anonymous]

I think it's the age of the card, not the percentage of the limit used. I'd bet if you had a year or two of history there wouldn't have been an issue. Yes, it would be a good idea to pay them off during the FR.

[Anonymous]

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@Anonymous wrote:

I think it's the age of the card, not the percentage of the limit used. I'd bet if you had a year or two of history there wouldn't have been an issue. Yes, it would be a good idea to pay them off during the FR.

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Definitely.  $1500 isn't anything.  If they did FRs for those kind of charges then they would be doing them nonstop

[too-much-time]

I was recently approved for an Amex card and within days spent $8,000 in a single charge, in the process passing the 50%. No FR. A week later, I asked to have transferred a few thousand dollars from an old card to the new, increasing the credit limit to more than double the balance. Still no FR. I never even gave it a thought.

[Anonymous]

I guess they must like me . Anyway...sent in the 4506T yesterday, and per Captool's advise, just paid them off. Hoping this FR will just be a blip in what I hope will be a long standing relationship..