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There was a great post about financial review vs. proof of income about a week ago, but danged if I can find it.
The upshot is that people often get these two things confused. FR is generally triggered by odd behavior, and a customer would have no choice but to submit to it. Asking for a CLI is very unlikely to be considered odd.
POI, on the other hand, is optional. The customer can decide to simply not proceed any further or can try requesting a lower CLI.
If I were in the OP's position, I'd definitely want to know what's going on. But I would think that FR is highly unlikely.
Jesus people.... AMEX isn't that complicated!!!!
7-10 = denial / delayed approval
4506 = you know online and it asks you if you want to do it now or wait for the mailed form
- if you don't respond for a CLI 4506 = no CLI
- if you don't respond for an actual FR = no CC for you
Then there's everyones favorite instant approval
@HeavenOhio wrote:There was a great post about financial review vs. proof of income about a week ago, but danged if I can find it.
http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-3X-Credit-Limit-Increase-Question/m-p/4884976
Thanks, K-in-Boston. That's the post I was looking for.
I apply this to ANY bank buisness..
When in doubt, dont poke the bear....
http://www.doctorofcredit.com/dont-call-the-bank/
i have an update after waiting the 7-10 days. Here is the repsonse I got from AMEX:
"We are writing to let you know that, unfortunately, we're unable to approve your request for a credit limit increase at this time for the folliwng reasons(s):
"Your recent payments are too low in relation to the balances on your account"
WHAT!!!!?????
I have made, not just one, but several payments monthy. My average payment is $200 or more a month. My minimum payment is $35 and I have never MISSED a payment. I have been with them for over a year and a half. What the hell gives? My FICO scores are as follows:
Equafax - 699 TransUnion: 707 Experian - 701!!!!!
Should I call the recon line and see if there was a mistake and try for a lower increase? Should I leave it alone? Also, I did NOT get a FR so I am very glad about that.
Let me know what I did wrong??? Thanks.
@Anonymous wrote:i have an update after waiting the 7-10 days. Here is the repsonse I got from AMEX:
"We are writing to let you know that, unfortunately, we're unable to approve your request for a credit limit increase at this time for the folliwng reasons(s):
"Your recent payments are too low in relation to the balances on your account"
WHAT!!!!?????
I have made, not just one, but several payments monthy. My average payment is $200 or more a month. My minimum payment is $35 and I have never MISSED a payment. I have been with them for over a year and a half. What the hell gives? My FICO scores are as follows:
Equafax - 699 TransUnion: 707 Experian - 701!!!!!
Should I call the recon line and see if there was a mistake and try for a lower increase? Should I leave it alone? Also, I did NOT get a FR so I am very glad about that.
Let me know what I did wrong??? Thanks.
Let it be and try again after another 3 months... Work on paying down your Amex balance and getting your scores up a bit more and next time you might yield better results. Amex doesn't recon. You must wait 3 months between denied CLI attempts if denied and 6 months between approved one. No middle ground you really have no choice.
Curious what do you owe on that amex card and how long have you been carrying that balance. Also at a 700 Exp score something has to be holding the score down is it old baddies or utilizaton?
I owe $2900 on my AMEX. My CL is $19500. I have no baddies at all. I think it because my overall UTI is 42% =( I will try again in 3 months and try to pay down my card. Thanks for the information though. I have been carrying that for about a year. But I was at $5000 so I have been paying it down. Its OK, I am just a little down at the moment. Such is life.
OH btw I read myFico socre wrong. My score is 707 not 700, but it probably didn't make a difference. Thanks.