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Re: Amex’s Financial review


Revelate wrote:


Technically speaking taking that $35000 number, while that's roughly 6% of your annual gross income, that's not the way Amex likely factors it.  They almost certainly divide your estimate of post-tax income by 12 from eons ago as charge cards are all term one month (probably applies to their revolvers too but that's just a pure swag).  Ballparking that's what $5K tax burden assuming single / nothing fancy?

 

So by napkin math, $30000/12 = $2500, and as such you spent 80% of your monthly income.   I can see Amex's potentially raising a flag on that one.

 

CS: this sort of example is what I meant by my probably screwing up somewhere: if my expenditures outstrip my reported income or come close to it in a given month, Amex may have an issue with it expecially as I don't have any history with them to date.  Going to have to see frankly, but hopefully I don't blow it this month, even though I'm of the opinion it's not a big deal, I'm a little on edge that I'll trigger it even with $2500 spend at a monthly post-tax income of roughly $6800 reported.  

 

Should've pushed that bedding purchase till next reporting statement.... this forum does wonky things to my head sometimes :smileyhappy:.


You are about right with your calculations, but I have two revolvers with them with zero interest. Spending a month of income still does not seem like a big deal to me, and it was a business card. Don't all businesses spend a lot in the beginning. I also had/have money saved up, so could easily pay it off if neccesary. I just think it odd that PNC does not seem to care that I have spent more than I reported as income; quite a bit more actually. But American Express gets scared after one tiny charge.

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