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

Re: American Express Issues


Revelate wrote:

Repo-ed wrote:

Amex could not care any less where you use their card, where their card is accepted.

 

100% Fact.


Not that we could really ever find out, but I would bet against that, not that I let it change my behaviors in the slightest.

 

Amex at one point, and likely still, absolutely cares about it's prestiege... and it is very, very easy to build an accurate profile when looking at the individual transactions.  So easy I'd be stunned and amazed if they haven't done something similar in the past decade.  

 

I know if I were Amex or any other lender (Chase in particular) I'd absolutely look at such things and there may be simple correlations vis a vis people who drive a Mercedes are less likely to flake on a credit card payment than people who drive a BMW, and I'm pretty confident that'd be entirely legal to make a decision off of too... and AFAIK lenders can get to this level of detail with the information that is collected from the merchants.  

 

So if they're likely looking at that level for various reasons, why would they not take the extra step to reinforce their core marketing scheme?  There are some products (Centurion) which we absolutely know aren't available to most mortals, and likely there's some amount of flash in one's profile that has to exist regardless of how much you spend to be invited to apply.  It would not surprise me in the slightest to find something similar even on the lower tier cards.

 

Edit: my assertion assumes Amex could figure out the infrastructure and development side, which is non-trivial, and I do have second-hand knowledge that they haven't always been good at that, but that they have enough resources and knowledge to eventually get to the right solutions... or at least have in the past.


I disagree, I would say that people who drive MB and BMW are trying to put on an appearance and will charge above their means if cash flow runs dry, I want the guy with a 10yr old ford pick up with a mil in tbam kink using my card

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
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: American Express Issues

@Simply FR stands for Financial Review. AMEX will do this if they feel your a risk to default or they dont think your submitted Income on your app is truthful. They will request tex return info to verify your income. You can either submit the documents or they close your account.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: American Express Issues

[ Edited ]

I did this identity verification, it was no big deal, and definately not an FR.

 

My bank is open 24/7 so I didn't really have to wait.

 

This was for my zync card in Feb 2012


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.