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Amex is asking for additional information for a CLI

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Established Contributor

Re: Amex is asking for additional information for a CLI

Is It possible because you did not wait 6 months and are asking for an increase is why they are doing this?
Message 21 of 24
Valued Contributor

Re: Amex is asking for additional information for a CLI

OP, this is obviously your decision...but it is something that AmEx does often, and it is something they have a total right to do. You don't actually send them your tax returns. You sign a form that allows them to get certain tax forms from the IRS. They don't want your entire return.

 

Please remember that they are lending you money. They have the right (and responsibility) to ask you to document your income. Tax forms are the best way to document that. If you were lending someone money with no collateral or security, wouldn't you want to have them substantiate their income? Or would you simply trust what they said? I know that I wouldn't. Asking for proof is the responsible thing for them to do.

 

Don't take it personally. It happens to many. I've been through it. I signed the form and got my CLI. That was for a CLI that I requested. I've gotten many CLIs from them since then that I didn't ask for. I went from an original credit line of $2k to over $14k in a couple of years. They developed trust in me. That trust takes longer to build if you refuse to document your income.

 

Credit is a two-way street, and you have responsibilities. The decision is yours.

Message 22 of 24
Valued Contributor

Re: Amex is asking for additional information for a CLI


Jazzzy wrote:

OP, this is obviously your decision...but it is something that AmEx does often, and it is something they have a total right to do. You don't actually send them your tax returns. You sign a form that allows them to get certain tax forms from the IRS. They don't want your entire return.

 

Please remember that they are lending you money. They have the right (and responsibility) to ask you to document your income. Tax forms are the best way to document that. If you were lending someone money with no collateral or security, wouldn't you want to have them substantiate their income? Or would you simply trust what they said? I know that I wouldn't. Asking for proof is the responsible thing for them to do.

 

Don't take it personally. It happens to many. I've been through it. I signed the form and got my CLI. That was for a CLI that I requested. I've gotten many CLIs from them since then that I didn't ask for. I went from an original credit line of $2k to over $14k in a couple of years. They developed trust in me. That trust takes longer to build if you refuse to document your income.

 

Credit is a two-way street, and you have responsibilities. The decision is yours.


+1,000,000


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 23 of 24
Senior Contributor

Re: Amex is asking for additional information for a CLI

Wasnt there a poster that told them to cram it, and they didnt close his acct? Haha. Personally, if I have other much higher lines, which I do... Then providing income would be too damn much of a hassle, esp. The way they request it.
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 24 of 24