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Amex Suspended my 3 accounts

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myjourney
Super Contributor

Re: Amex Suspended my 3 accounts


@Revelate wrote:

@Fico2Go wrote:

Is there anything in relation to CCs hat has conclusive proof?  

 

There's nothing in this business or game that is 100% true or proven.  We are not even sure if approvals are based on FICO scores, internal scores, or other factors.  What we do know is that OP didn't get approved for $1000 follow by FR.  She was approved for $20K.

 

And what we also know is that she had a $500 TL on CR.  

 

We can slice the presumptions anyway we want but I would bend towards available credit line in relation to sought credit line as the cause for FR.  

I've been wrong often and I'm not afraid to be learn here.

  

 

 


And yet we have tremendous numbers of Amex members who still have $500 cards on their report.

 

Am sorry, this just doesn't wash anecdotally either from what we know about Amex or their FR policies.  The $500 secured cards were completely incidental in my opinion.  A request for a tax transcript is an income verification device, nothing more, nothing less.  I would encourage anyone to not read more into it than that.

 

ETA: business cards sometimes may be addressed differently, it's not necessarily unreasonable to want to check to see if you actually qualify as well in addition to the income verification as a tax transcript documents income from all sources reported to the IRS including various 1099 forms.

 


+1 

OP you should be fine after doc's are reviewed 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 11 of 29
enharu
Super Contributor

Re: Amex Suspended my 3 accounts


@newdaddy113 wrote:

why would they give me such a huge limit in the first place? Smiley Mad The issue is that I put my current salary of 70k but the last 2012 tax they requested I made more cause then I worked 2 jobs. IRS income in 2012 was 115k as opposed to my current salary of 70k. I feel very uneasy about all this. I have faxed them the 4506 document they needed. Fingers crossed Smiley Sad


because they think you deserve it. They are not finding faults with you or trying to pick on you right now; just doing due diligence to make sure everything checks like it should be. Lenders do income verification from time to time. it just so happens that you got picked.

 

since you do make more on tax docs than what you claimed, chances are this FR will end well in your favor. For all you know they might even give you a higher CL! Who knows? Smiley Wink

 

Don't worry about it really. It's not a big deal most of the time minus the inconvenience that accounts had to be suspended while FR is ongoing.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 12 of 29
FinStar
Moderator Emeritus

Re: Amex Suspended my 3 accounts


@myjourney wrote:

@Revelate wrote:

@Fico2Go wrote:

Is there anything in relation to CCs hat has conclusive proof?  

 

There's nothing in this business or game that is 100% true or proven.  We are not even sure if approvals are based on FICO scores, internal scores, or other factors.  What we do know is that OP didn't get approved for $1000 follow by FR.  She was approved for $20K.

 

And what we also know is that she had a $500 TL on CR.  

 

We can slice the presumptions anyway we want but I would bend towards available credit line in relation to sought credit line as the cause for FR.  

I've been wrong often and I'm not afraid to be learn here.

  

 

 


And yet we have tremendous numbers of Amex members who still have $500 cards on their report.

 

Am sorry, this just doesn't wash anecdotally either from what we know about Amex or their FR policies.  The $500 secured cards were completely incidental in my opinion.  A request for a tax transcript is an income verification device, nothing more, nothing less.  I would encourage anyone to not read more into it than that.

 

ETA: business cards sometimes may be addressed differently, it's not necessarily unreasonable to want to check to see if you actually qualify as well in addition to the income verification as a tax transcript documents income from all sources reported to the IRS including various 1099 forms.

 


+1 

OP you should be fine after doc's are reviewed 


+2

 

And what enharu mentioned in the above post.

Message 13 of 29
sjt
Senior Contributor

Re: Amex Suspended my 3 accounts

I would not worry about. I think you will be fine.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 14 of 29
CredittotheMax
Frequent Contributor

Re: Amex Suspended my 3 accounts

I'm kind of afraid now because me being a college student, I may make 5-30k a year depending on internship. What if they want a FR from me and my income is different every year?

$5k$4.5k$2.8k$8k$500
FICO = EQ: 786 (1/15) TU:774 (2/15) EX: 767 (2/15)
Message 15 of 29
Repo-ed
Senior Contributor

Re: Amex Suspended my 3 accounts


@CredittotheMax wrote:

I'm kind of afraid now because me being a college student, I may make 5-30k a year depending on internship. What if they want a FR from me and my income is different every year?


Don't fear the FR.

 

If you are 100% honest w/ your application w/ your current income, then you have absoultely nothing to worry about.


People's income changes yearly, if not sooner..

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 16 of 29
takeshi74
Senior Contributor

Re: Amex Suspended my 3 accounts


@newdaddy113 wrote:

The issue is that I put my current salary of 70k but the last 2012 tax they requested I made more cause then I worked 2 jobs. IRS income in 2012 was 115k as opposed to my current salary of 70k. I feel very uneasy about all this. I have faxed them the 4506 document they needed. Fingers crossed Smiley Sad


As others have said that's not an issue.  It would be an issue if it was the other way around and your income on your tax documents was siginificantly lower than what you indicated on your application.

 


@Fico2Go wrote:

Is there anything in relation to CCs hat has conclusive proof? 

Plenty of things but none relevant to this thread. 
Message 17 of 29
FinStar
Moderator Emeritus

Re: Amex Suspended my 3 accounts


@takeshi74 wrote:

@newdaddy113 wrote:

The issue is that I put my current salary of 70k but the last 2012 tax they requested I made more cause then I worked 2 jobs. IRS income in 2012 was 115k as opposed to my current salary of 70k. I feel very uneasy about all this. I have faxed them the 4506 document they needed. Fingers crossed Smiley Sad


As others have said that's not an issue.  It would be an issue if it was the other way around and your income on your tax documents was siginificantly lower than what you indicated on your application.

 


@Fico2Go wrote:

Is there anything in relation to CCs hat has conclusive proof? 

Plenty of things but none relevant to this thread. 

+1

Message 18 of 29
FinStar
Moderator Emeritus

Re: Amex Suspended my 3 accounts


@Repo-ed wrote:

@CredittotheMax wrote:

I'm kind of afraid now because me being a college student, I may make 5-30k a year depending on internship. What if they want a FR from me and my income is different every year?


Don't fear the FR.

 

If you are 100% honest w/ your application w/ your current income, then you have absoultely nothing to worry about.


People's income changes yearly, if not sooner..


Exactly.  As long as everything matches up or you can provide supporting evidence of such (in the event that AMEX ever requests it), then nothing to worry about.

Message 19 of 29
youngandcreditwrthy
Senior Contributor

Re: Amex Suspended my 3 accounts

It's probably some regulator making them do it. Lolz
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 20 of 29
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