@Loquat wrote:
@Anonymous wrote:
@Loquat wrote:
@Anonymous wrote:It will be a SP, and you can try for one now because its been 6 months since your last increase. Just know that going higher could result in them asking you for your tax returns for income verification. It doesn't always happen, but it is a possibility. Good luck!
Okay, can someone please enlighten me on what it is about avoiding this income verification deal with Amex? I've read it many times on the forum where people will do just about everything in their power to avoid it. Is there something terribly wrong with providing this info? I mean, if income wasn't inflated then why is there such a fear of providing proof? I know some will say state privacy, but really, doesn't these lenders already know just about all of our personal info anyway?
They only know as much as your credit report says, and income isn't on there. I don't like the intrusiveness of it personally, so I won't do it. But, they're lending to you so it's well within their rights to ask.
I guess I'm missing the intrusiveness part. Don't you have to input income information in when applying and/or asking for a CLI? Most times when I've asked for a CLI I've always been asked for my current income unless it was SP auto luv.
And the number you put in to the online form, that came from... where exactly? You? You know you aren't fibbing, how does AMEX know this?
The reason for the request for details is to get an independent verification, a real verification, of what your income is.
Regarding the possibilities of how to verify, many of the AMEX customers are not the sort to get nearly all their income from W-2 wages. They are business owners or others with non-standard sources of income. Where could AMEX find this income information, where is the income that you earn listed and signed by you under penalty of perjury? Why to the IRS of course, who has some significant resources behind it to take adverse action if you don't list all your income. So for AMEX, requesting the tax form transcript is the most efficient, single question request, to get straight to the heart of the information they need to verify.
If you don't want to give AMEX access to that tax information, and you are asking for a CLI, then you have the option to withdraw the request for the CLI, and stick where you are.
If AMEX does not like how your transaction pattern looks, calls you up, and has determined that your account is going to need a Financial Review, well, you can either provide the information or stop using the now not-available AMEX cards.
I get my first attempt at this 3X next month.
@Anonymous wrote:It will be a SP, and you can try for one now because its been 6 months since your last increase. Just know that going higher could result in them asking you for your tax returns for income verification. It doesn't always happen, but it is a possibility. Good luck!
Old Post, just thought I'd update JustMe3
I finally hit Amex up for that increase. I decided to ask for what I wanted which was $30,000
I asked on on the night of July 2nd and it came back an instant approval!
Now I have 3 cards reporting between $33,000-$30,000
Thanks again!
I called Amex last week to specifically ask if a CLI request was SP or HP. The CSR said that no one at Amex knows if it's going to be SP or HP! That they only know after the fact. I found this bizarre but I basically didn't get an answer.
Yei. Congratulations on your approval.
@greent wrote:
I called Amex last week to specifically ask if a CLI request was SP or HP. The CSR said that no one at Amex knows if it's going to be SP or HP! That they only know after the fact. I found this bizarre but I basically didn't get an answer.
According to the Amex 3X Guide its a SP.
I know mine was. But it has to be at leats 6 months in between increases from what I've been told.
Anything before then might be a HP.
Very nice approval!
