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Being asked by Amex for tax return?

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Anonymous
Not applicable

Re: Being asked by Amex for tax return?

Open a business credit card next time

Message 11 of 41
webhopper
Moderator Emeritus

Re: Being asked by Amex for tax return?


@Anonymous wrote:

Open a business credit card next time


Un wise. We don't even know what he is selling to the Chinese at a profit.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 12 of 41
Anonymous
Not applicable

Re: Being asked by Amex for tax return?


@webhopper wrote:

@Anonymous wrote:

Open a business credit card next time


Un wise. We don't even know what he is selling to the Chinese at a profit.

lol.... true.

Message 13 of 41
Anonymous
Not applicable

Re: Being asked by Amex for tax return?

What I resell were clothes bought on Abercrombie&Fitch.com, Nike.com or cosmetic things bought on websites like kiehls.com, Ebay.com,  Newegg.com, Amazon.com .  It's simply some of these websites only accept American credit card.  And I bought a lot of them when there's a promotion and then resell them.

Message 14 of 41
webhopper
Moderator Emeritus

Re: Being asked by Amex for tax return?


@Anonymous wrote:

What I resell were clothes bought on Abercrombie&Fitch.com, Nike.com or cosmetic things bought on websites like kiehls.com, Ebay.com,  Newegg.com, Amazon.com .  It's simply some of these websites only accept American credit card.  And I bought a lot of them when there's a promotion and then resell them.


Smart kid. Definately smart; except when it came to lying on the application. You need startup capital to purchase inventory... not a credit card. Do you have family members who can sponsor your startup?
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 15 of 41
CreditScholar
Valued Contributor

Re: Being asked by Amex for tax return?


@webhopper wrote:

@Anonymous wrote:

What I resell were clothes bought on Abercrombie&Fitch.com, Nike.com or cosmetic things bought on websites like kiehls.com, Ebay.com,  Newegg.com, Amazon.com .  It's simply some of these websites only accept American credit card.  And I bought a lot of them when there's a promotion and then resell them.


Smart kid. Definately smart; except when it came to lying on the application. You need startup capital to purchase inventory... not a credit card. Do you have family members who can sponsor your startup?

+1. I agree with webhopper on this. Your plan has potential, this much I can see. You need to carefully think about how to proceed from here. Eventually you'll need a business card or line of credit, but for now the question is how to get off the ground. With no credit history in the US, you'll need to look elsewhere for the startup funds.

 

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 16 of 41
Anonymous
Not applicable

Re: Being asked by Amex for tax return?

Yes, my parents sponsor me and it's pretty much enough.  To be honest, I find a lot of opportunities here in U.S. while a lot U.S. peers are whining about contracting job markets.  And thank you sincerely for your encouragement.  

 

What I'm pretty sad here isn't that I lose some available credit limit. It is that I can't have an Amex Blue Cash Prefered card. Though there are other options, none are as good.

 

Message 17 of 41
minimock
Frequent Contributor

Re: Being asked by Amex for tax return?

Im not real sure you would have good luck with synthetic marijuana showing up on your billing statment, business or personal Smiley Happy

 

Might be a green flag there Smiley Very Happy

Message 18 of 41
trumpet-205
Valued Contributor

Re: Being asked by Amex for tax return?

That is some pretty daring move you pulled off. As stated, you should NEVER charge business charge on AMEX personal card. With business charge and sudden spike on spending no wonder AMEX came after you. Since you cannot produce 4506-T you will be locked out of AMEX. Any future AMEX application will get flagged, and you will be asked to produce 4506-T on the spot.

 

If your parents are sponsoring your small business then for now get a prepaid card from AMEX and use that instead. Don't put your business charge on other credit cards you may have.

 

Friendly advice: Utah outlawed synthetic marijuana (plus all synthetic controlled substance). Unless you want to pay a visit to state prison, forget about it.

Message 19 of 41
Uborrow-Upay
Valued Contributor

Re: Being asked by Amex for tax return?


@Anonymous wrote:

Yes, my parents sponsor me and it's pretty much enough.  To be honest, I find a lot of opportunities here in U.S. while a lot U.S. peers are whining about contracting job markets.  And thank you sincerely for your encouragement.  

 

What I'm pretty sad here isn't that I lose some available credit limit. It is that I can't have an Amex Blue Cash Prefered card which can be used to buy a $500 Visa gift card or Amazon  gift card with a 6% cashback at local grocery store, if you know what I mean. And the 3% cashback on department store is also gone.  Though there are other options, none are as good.

 

By the way, I've even come up with  a lot of bizarre ideas. As an example, I have considered reselling synthetic marijuana(I heard about this on NPR news), which is technically legal (as of August,2012 ) in both U.S. and China after checking onerous laws. The fact that Chinese government does not really obey the law makes me to ditch that idea (in addition to the moral issue). 


 

 

 

 

 

 

 

 

 

 

 

(My Mom told me once that if I couldn't say anything nice about someone, I shouldn't say anything at all...so, seems like you have a nice room in the dorm, eh?)

 

Message 20 of 41
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