cancel
Showing results for 
Search instead for 
Did you mean: 

American Express FR after 1 month

tag
JediNeo
Frequent Contributor

Re: American Express FR after 1 month

If OP declines or fails the FR and lender closes the acct, how would it affect their CR to other lenders? I know they would be out of the amex family until they comply. Would the report just state closed by lender with one month history and fall off in ten years?

NFCU Cash Rewards | CSP | Freedom Unlimited | WalMart MC | Target Red MC | Citi Costco | AMEX BCE
Message 31 of 38
longtimelurker
Epic Contributor

Re: American Express FR after 1 month


@Kostya1992 wrote:
@longtimelurker

You are actually complicating it. Its simple - if I am doing nothing wrong then there is ZERO justification for me to surrender my privacy to them. If they respect me as a customer I will never have my card declined unless there is fraud or I close my account. If they FR me then I should be able to call them and ask for their tax records, who knows they could go under seeing how they are losing contract with Costco to CITIBANK..

I think we are talking from different viewpoints  (I am fully on the side of not complying!).    I was just saying that IF, for whatever reason, justified or not, Amex wants an FR, it is a simple choice to make, does the benefit of keeping that card outweigh other concerns or not.   So while there is zero JUSTIFACTION to surrender your privacy, you may, or may not, decide to do say anyway.

 

I have supplied the 4056-T twice (these were for CLIs).   The first time I didn't know any better and just did it.     The second time I decided I really needed the CLI and that was more important.   Of course, the stakes were lower as it wasn't a FR.

Message 32 of 38
longtimelurker
Epic Contributor

Re: American Express FR after 1 month


@JediNeo wrote:

If OP declines or fails the FR and lender closes the acct, how would it affect their CR to other lenders? I know they would be out of the amex family until they comply. Would the report just state closed by lender with one month history and fall off in ten years?


It will show closed by lender and fall off as usual.

 

Isolated closures by creditors are OK, they don't impact score so are only an issue on manual review (of course, there could be utilization impacts just as if you closed the card)   Many closures in a short periiod of time, especially from more than one lender will raise red flags.

 

OT, but I hate the use of "Amex family" or any other lender.   You are merely a customer of a huge multinational, nothing "family" about it!

Message 33 of 38
takeshi74
Senior Contributor

Re: American Express FR after 1 month


@Anonymous wrote:

wow, I've only had my account for only one month and AMEX suspended my accounts for a FR! 


Time doesn't matter.  FR's can happen at any time.  It's the activity and one's information that matter.

 


@Anonymous wrote:

I am thinking about closing because I feel violated and this is an i convenience...all for a new acct.!

 

pls advise. 


Your call to make.  Which takes priority for you?

 


@longtimelurker wrote:

You are merely a customer of a huge multinational, nothing "family" about it!


This.  It's all business.

Message 34 of 38
JediNeo
Frequent Contributor

Re: American Express FR after 1 month


@longtimelurker wrote:

@JediNeo wrote:

If OP declines or fails the FR and lender closes the acct, how would it affect their CR to other lenders? I know they would be out of the amex family until they comply. Would the report just state closed by lender with one month history and fall off in ten years?


It will show closed by lender and fall off as usual.

 

Isolated closures by creditors are OK, they don't impact score so are only an issue on manual review (of course, there could be utilization impacts just as if you closed the card)   Many closures in a short periiod of time, especially from more than one lender will raise red flags.

 

OT, but I hate the use of "Amex family" or any other lender.   You are merely a customer of a huge multinational, nothing "family" about it!


 

Thank you for the clarification. What I meant by family was that OP would but shut out of all AMEX products going forward until they comply with the FR. That any AMEX app going forward would be an automatic decline.

NFCU Cash Rewards | CSP | Freedom Unlimited | WalMart MC | Target Red MC | Citi Costco | AMEX BCE
Message 35 of 38
Anonymous
Not applicable

Re: American Express FR after 1 month - UPDATE!

Update: I passed the FR. I just got the call but when I asked why I  was told he really don't know. it is the system that spits out account for manual review and especially on new accounts with no payment history.

 

 

Message 36 of 38
Imperfectfuture
Super Contributor

Re: American Express FR after 1 month - UPDATE!

Congrats. Thought you would be okay.
Signature needs updating
Message 37 of 38
Anonymous
Not applicable

Re: American Express FR after 1 month - UPDATE!

Thanks you so much. I was very concerned because I really need and want the back dating since 1982. '

 

I did what was advised and paid one card off (1,800) in full and left the other card with a balance of 1,200

 

I will be very careful with this card from now on. I will not be putting anymore large purchases on these cards for a long time.

 

Again, a BIG THANK YOU FOR YOUR SUPPORT AND GREAT ADVISE.


@Imperfectfuture wrote:
Congrats. Thought you would be okay.

 

Message 38 of 38
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.