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This question arises from my another topic: http://ficoforums.myfico.com/t5/Credit-Cards/Got-approved-for-AMEX-SPG-30k-with-9500-limit/m-p/23635....
For those who are reviewed, could you please share your experiences? Thanks!
And state why you got the FR? i.e.: what you did to have them FR you.
Thanks
@Luscher wrote:And state why you got the FR? i.e.: what you did to have them FR you.
Thanks
It's actually hard to say why right? I have not been FRed, but just want to know when they are likely to give FRs.
Well, when or why in this case means the same thing. If you have start having abnormal spending habits after a history of spending normally, that's why they'll hit you with an FR or that's when they'll hit you. As for the what's considered abnormal in AMEX's view, I'm sure others can chime in too, but AFAIK, it's hard to determine what it exactly is.
I personally believe FR concern is blown way out of proportion. Use the card, and pay it, I don't see any reason why AMEX'd FR you. Now, if you were to start charging more than your annual income, or let's say you overpay by a huge amount like $5000 and let the statement cut so they can send you a check refund of $5000, ofcourse they'd wanna FR you.
@Anonymous- wrote:I personally believe FR concern is blown way out of proportion. Use the card, and pay it, I don't see any reason why AMEX'd FR you. Now, if you were to start charging more than your annual income, or let's say you overpay by a huge amount like $5000 and let the statement cut so they can send you a check refund of $5000, ofcourse they'd wanna FR you.
Thanks for the information. May I ask why overpay would trigger FR? Thanks!
@epicureanism wrote:
@Anonymous- wrote:I personally believe FR concern is blown way out of proportion. Use the card, and pay it, I don't see any reason why AMEX'd FR you. Now, if you were to start charging more than your annual income, or let's say you overpay by a huge amount like $5000 and let the statement cut so they can send you a check refund of $5000, ofcourse they'd wanna FR you.
Thanks for the information. May I ask why overpay would trigger FR? Thanks!
Overpaying and bringing the balance to a negative by a small amount shouldn't be a big deal. But overpaying, like I said in my previous example, by say $5000 and then letting the statement cut, which in turn will make AMEX send you a check (which is cash money), isn't exactly a sound decision. Reason I used this example is because I read/heard about a money laundering scheme a couple of years ago, in which the perpetrators would overpay lenders by huge amounts, make them send refunds, and in effect get "washed" money back.
@09Lexie wrote:
I agree with ternify- Amex is one if the few lenders that will give you an opportunity to keep your accounts. Other lenders will CLD or AA without warning and you might not ever get your CL's back.
We are a small sampling of Amex card members. The general population does not worry about an Amex FR and neither should you.
Well unless you requested an absurdly high credit increase(amongst many reasons), then they will do a FR. The people who are worried usually lied about there income or can't prove there income.