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AMEX Flagged for FR

Senior Contributor

Re: AMEX Flagged for FR



Tovya wrote:
LOL, actually, funny enough, our bank actually cut us off from large cash withdrawals today for the whole safety/liability issue as of today. We were our banks largest customer until they were bought out by compass bank, and their regulations apparently prohibit doing such large cash transactions unless we hire an armored car service.

seriously you should take thier advice to heart.
Message 31 of 96
New Contributor

Re: AMEX Flagged for FR



imducky wrote:


Tovya wrote:
LOL, actually, funny enough, our bank actually cut us off from large cash withdrawals today for the whole safety/liability issue as of today. We were our banks largest customer until they were bought out by compass bank, and their regulations apparently prohibit doing such large cash transactions unless we hire an armored car service.

seriously you should take thier advice to heart.





Well, apparently we don't have a choice, because as of Monday we can't do it anymore anyway (after 25 years of doing it this way).

We never wanted to do an armored car because it's like painting a red target on our building that screams "they've got serious cash here!".

Anyway, funny how this conversation went from Amex income verification to 6 figure cash withdrawls! I love this forum, it's so crazy.
*I used to dread being a member of the 700 Club because I thought it came included with a Pat Robertson blow up doll... the very thought scared me into bad credit.*
Message 32 of 96
Senior Contributor

Re: AMEX Flagged for FR



Tovya wrote:

 so crazy.


what'd you call me?
 
lol. i was thinking this went way ot myself.
Message 33 of 96
Senior Contributor

Re: AMEX Flagged for FR



Tovya wrote:
Honestly, I've never been flagged to have my income confirmed by a CC issuer. What exactly do they allow for income verification? The reason I ask, is because I receive income from investments, the profits and base salary for being a CEO with a majority share, and my father's corporation pays me for being an advisor. Would they expect me to provide proof for all forms of income or just my tax return filings?

It hasn't happened to me yet, but would be good to know if it ever did....




The only time I have ever had anybody verify my income was for a mortgage, other lenders have approved based on what I wrote on the application and pulling my credit history. As for my Amex Gold Card, they didn't even get an income number from me when I applied because I applied for that card during my senior year in college using an application form specially for graduating seniors which therefore did not even have a place to put an income number. By now I've had the account since 1982 with zero problems so I expect they know by now I pay my billsSmiley Wink
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 34 of 96
Regular Contributor

Re: AMEX Flagged for FR

hi-jacked by a millionaire.....>:-( Anyway, I received their email with the cover sheet and form. I filled it out and faxed it back from my home fax, but i probably should of canceled. wish me luck..... :-(

Message Edited by msheresy on 06-14-2008 11:57 PM
Message 35 of 96
Senior Contributor

Re: AMEX Flagged for FR



msheresy wrote:
hi-jacked by a millionaire.....>:-( Anyway, I received their email with the cover sheet and form. I filled it out and faxed it back from my home fax, but i probably should of canceled. wish me luck..... :-(

Message Edited by msheresy on 06-14-2008 11:57 PM




I complied also. Since Amex was the first lender to give me a prime CL, I still feel somewhat loyal to them.

It took about a week and was pretty painless.
Here we go again...
Message 36 of 96
Senior Contributor

Re: AMEX Flagged for FR



imducky wrote:


Tovya wrote:

We actually pull about that much out of the bank every day because of the business we are in (we pay out in mostly all cash) but it's a lot easier to be protected on a $150,000.00 purchase with an Amex than fifteen $10,000 strap of Benjamin Franklins.

i hope you travel the noah's ark method (in pairs) and carry, i would.





I was in the position of having to carry a LARGE sum of cash once from one bank to mine when I settled a lawsuit from my gunshot wound. (It was a homeowners thing, not a gun company suit, I'm not that lame).

I made sure to bring a pistol with me that day. I have a concealed handgun permit, so I can do so in Virginia.

Sorry to get off topic, but I'm a HUGE 2nd Amendment person. And I make some relavent posts, so I figured it would be okay. It's not too often that packing heat is semi-relavent on the CC forum. Smiley Happy
Here we go again...
Message 37 of 96
Moderator Emerita

Re: AMEX Flagged for FR


msheresy wrote:
hi-jacked by a millionaire.....>:-( Anyway, I received their email with the cover sheet and form. I filled it out and faxed it back from my home fax, but i probably should of canceled. wish me luck..... :-(




Good luck! Hope they calm back down.

And I hope they tell you what on earth triggered it. You and Fretless probably hold the forum record for quickest F/R's. Although I think there was another member once who got an immediate freeze to confirm his identity or something.

Honestly, I don't understand why AmEx can't pull itself together and get their credit-approving people and their credit-cold-feet people on the same page. This seems incompetent on their part!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 38 of 96
Senior Contributor

Re: AMEX Flagged for FR



FretlessMayhem wrote:


imducky wrote:


Tovya wrote:

We actually pull about that much out of the bank every day because of the business we are in (we pay out in mostly all cash) but it's a lot easier to be protected on a $150,000.00 purchase with an Amex than fifteen $10,000 strap of Benjamin Franklins.

i hope you travel the noah's ark method (in pairs) and carry, i would.





I was in the position of having to carry a LARGE sum of cash once from one bank to mine when I settled a lawsuit from my gunshot wound. (It was a homeowners thing, not a gun company suit, I'm not that lame).

I made sure to bring a pistol with me that day. I have a concealed handgun permit, so I can do so in Virginia.

Sorry to get off topic, but I'm a HUGE 2nd Amendment person. And I make some relavent posts, so I figured it would be okay. It's not too often that packing heat is semi-relavent on the CC forum. Smiley Happy




The most cash I've ever physically handled was the purchase price of a car many many years ago, and in that case I only took the cash about fifty feet all inside the bank. Every large transaction since then I have done by certified check...
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 39 of 96
Frequent Contributor

Re: AMEX Flagged for FR

I have to say it doesn't seem fair when the OP only made a 100 dollar purchase. I could understand a little better if it was a 10,000 dollar one, but I do agree that they should check before they issue.
 
I had a harder time getting a chase than amex. Chase made me jump thru all the proof of identity hoops. Amex--I applied over the phone, and told her I currently work overseas but have an address in the US. the CSR just skipped over the employer contact info, and took my word on my salary.
 
Which--yay! but not if it causes me problems later on.
FAKO TU: 730 (Too poor to check the real scores these days!)
Message 40 of 96