American Express Max Exposure

[creditconcept]

I know the secret to getting through an FR

Step 1: Don't Lie about your income or assets

Step 2: Repeat step 1 for all new applications

Thats all. They ast you for a form, fill it out, send it back.....the end.

Their computers approved you for that limit at your risk leve/income/credit score

They wont renig on that if you are 100% legit.

[CreditDunce]

There are a ton of posts that going over those limits makes it more likely Amex will request income verification.  But I don't think there is much evidence for FR action based on just having a high CL.  Income verification is also a 4506-T, but you can decline if you don't mind not getting the CLI.  

[ojefferyo]

There must be some underlying issueg when someone gets a FR, these lenders know what they are doing and if they see a risk they want to make sure they don't take a big hit. This is the internet and don't expect people to tell you everything when things happened to them. All you'll hear is "I got FR by AMEX or Chase or Citi." Then they proceed to state how they did nothing unusual and how their income of over $100K would cause such a thing. I can only believe half of what is really stated when things like that come up here. 

[Anonymous]

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@cluessJohn wrote:

Random83:

Very  curious about this - "I recently crossed the 34k mark (45k) in Amex limits. I also have opened and closed over 10 Amex cards in the last 4 years. I currently have 2 Amex CCs and 1 charge card".  I assume you are opening accounts to obtain sign-up bonuses and closing them to avoid on-going annual fees.  Is that correct and is AMEX ok with that?

I am back with AMEX after a long absence with a BCP.  To me the $150 bonus covered the first 2 years in fees and after that, I would reevaluate keeping a fee based card.  Is there another strategy with AMEX I should be thinking about?

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Amex and Chase have not taken AAs against me for churning cards for sign-up bonuses. I have not had multiple versions of most Amex cards (like I have with Chase), however. I do put significant spend through cards of any issuer who I churn cards with though. For example, about 40% of my regular monthly spend goes on the CSP (~2k/month) and it is a card I keep open always. I do the same with Amex, though a smaller portion of my spend goes on Amex cards. I am not sure if the fact that I keep accounts open with Amex/Chase and have put spend through Amex/Chase cards for years make them more receptive to my applying for and closing cards before the second year AF. 

[ojefferyo]

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@Anonymous wrote:

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@cluessJohn wrote:

Random83:

Very  curious about this - "I recently crossed the 34k mark (45k) in Amex limits. I also have opened and closed over 10 Amex cards in the last 4 years. I currently have 2 Amex CCs and 1 charge card".  I assume you are opening accounts to obtain sign-up bonuses and closing them to avoid on-going annual fees.  Is that correct and is AMEX ok with that?

I am back with AMEX after a long absence with a BCP.  To me the $150 bonus covered the first 2 years in fees and after that, I would reevaluate keeping a fee based card.  Is there another strategy with AMEX I should be thinking about?

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Amex and Chase have not taken AAs against me for churning cards for sign-up bonuses. I have not had multiple versions of most Amex cards (like I have with Chase), however. I do put significant spend through cards of any issuer who I churn cards with though. For example, about 40% of my regular monthly spend goes on the CSP (~2k/month) and it is a card I keep open always. I do the same with Amex, though a smaller portion of my spend goes on Amex cards. I am not sure if the fact that I keep accounts open with Amex/Chase and have put spend through Amex/Chase cards for years make them more receptive to my applying for and closing cards before the second year AF. 

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Either what you are buying doesn't matter to them or they don't consider it churning. I'm sure if you buy lots of debit gift cards they may have a different opinion on it

[Anonymous]

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@ojefferyo wrote:

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@Anonymous wrote:

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@cluessJohn wrote:

Random83:

Very  curious about this - "I recently crossed the 34k mark (45k) in Amex limits. I also have opened and closed over 10 Amex cards in the last 4 years. I currently have 2 Amex CCs and 1 charge card".  I assume you are opening accounts to obtain sign-up bonuses and closing them to avoid on-going annual fees.  Is that correct and is AMEX ok with that?

I am back with AMEX after a long absence with a BCP.  To me the $150 bonus covered the first 2 years in fees and after that, I would reevaluate keeping a fee based card.  Is there another strategy with AMEX I should be thinking about?

---

Amex and Chase have not taken AAs against me for churning cards for sign-up bonuses. I have not had multiple versions of most Amex cards (like I have with Chase), however. I do put significant spend through cards of any issuer who I churn cards with though. For example, about 40% of my regular monthly spend goes on the CSP (~2k/month) and it is a card I keep open always. I do the same with Amex, though a smaller portion of my spend goes on Amex cards. I am not sure if the fact that I keep accounts open with Amex/Chase and have put spend through Amex/Chase cards for years make them more receptive to my applying for and closing cards before the second year AF. 

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Either what you are buying doesn't matter to them or they don't consider it churning. I'm sure if you buy lots of debit gift cards they may have a different opinion on it

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I don't MS. I just open CC accounts for sign-up bonuses and close them before the second year AF. I have had over 50 accounts in the last 4 years and closed over 35 of them. Churning credit cards is not MS nor does it necessarily involve artificially increasing spend in other ways. My regular monthly CC spend is high enough for me to hit bonuses without MS. I think you are confusing churning with MS. Churning involves going through credit cards to hit sign-up bonuses and then closing and reapplying for the same card later once the lockout on the bonus has expired. MS involves artificially increasing your spend through creative ways (not sure if I can say more on these forums since this topic is semi-taboo). 

[ojefferyo]

no i got it, i just thought maybe you were MSing while churning