Reply
Valued Contributor
Posts: 2,413
Registered: ‎03-15-2012
0

Amex app grey area

Smiley TongueAnyone ever include their life insurance policy in the asset line?

Frequent Contributor
Posts: 348
Registered: ‎02-27-2013
0

Re: Amex app grey area

I wouldn't bc it's only upon death in most cases. It's not something you could liquidify to repay debt that's what assets and that's really what they want to know.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 2,413
Registered: ‎03-15-2012
0

Re: Amex app grey area

Question on the back of my mind for while. Shot off email to them, as I'd love to know the technical viewpoint from them.
Valued Contributor
Posts: 1,074
Registered: ‎02-06-2013
0

Re: Amex app grey area

    I think it is an asset certainly. I am not an accountant however.

300/21001100/13001500/25001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
Valued Contributor
Posts: 2,413
Registered: ‎03-15-2012
0

Re: Amex app grey area

I shot off the email right before posting this. I'm curious as hell about their answer.

Frequent Contributor
Posts: 471
Registered: ‎03-29-2011
0

Re: Amex app grey area

If there is a cash surrender value, I would include that amount and nothing else.

 

When did Amex start asking for assets? This must be recent.

________________________________________________________________________________
Valued Contributor
Posts: 2,413
Registered: ‎03-15-2012
0

Re: Amex app grey area

I've seen it since zync...seven months?

Valued Contributor
Posts: 1,074
Registered: ‎02-06-2013
0

Re: Amex app grey area

Yeah that is what I was thinking.

300/21001100/13001500/25001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
Valued Contributor
Posts: 2,413
Registered: ‎03-15-2012
0

Re: Amex app grey area

It's even on the droid app...Don't know...It's normal to me.

Senior Contributor
Posts: 3,067
Registered: ‎11-02-2009
0

Re: Amex app grey area

I would think it is definitely an asset if it is a whole life policy with cash value.  I wouldn't think term would be an asset.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO 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.