My first FR

[Anonymous]

March 2016, got my Delta SkyMiles Platinum followed by Delta Reserve in April, and Business Platinum in June. August 2016, got approved for my 4th AMEX, the personal Platinum. Activated it, swiped at Sheetz to get gas, drove 20 mins to work, logged to AMEX site and was greeted with the bright red banner that my accounts has been suspended and have to give them a call. I called, they wanted 4506-T, faxed it back and Googled what 4506-T mean with AMEX. Then, I finally understood what FR is. Sat and waited, never called to follow up, logged on one day and the banner was gone. THEN, I called to verify and was told all is well. Auditor said yes, you're good. No changes to my account. Tried to ask what happened but couldn't get an answer. Maxed now what AMEX will allow - 5 charge and 5 revolvers.

Well, I don't know what I did to trigger FR with AMEX, but I never used any of them at McDonald's or Walmart. When they restored my accounts, still had to meet required spending on Platinum for the bonus. Well, only place I can find the treats my dogs like is Sam's club and Walmart. That Platinum was seeing swiped ilke crazy at Wally World. And still does. Still no McDonald's. I like Wendy's better.

On the side note, few days before I left for a 17 day vacation to Europe in April 2017, got the dreaded Blue Envelope from Synchrony. Snail mailed that 4506-T on my layover at Detroit Metro and enjoyed my vacation. The day before I came back, was able to log on to all my accounts with no changes. They even sent a thank you letter for sending them the documents and apologized for the inconvenience it caused. Have 5 accounts with Synchrony.

So, 4506-T turned out to be something positive for me. But, YMMV. Good luck on your decison.

[CreditInspired]

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@arkane wrote:

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@wasCB14 wrote:

@arkane wrote:

This makes me want to get an Amex and then use it for nothing but Walmart and "second class establishment" shopping, then see how long it takes before I finally get cut off. Hey, would be an interesting research project if nothing else.

I wonder if certain merchants have (of had) an opposite effect. Would opera tickets or purchases from high-end chocolatiers "offset" some purchases from low-end merchants?

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I think we might end up confusing the poor computer. "Hmmm this peasant is a habitual Walmart and McDonalds customer, but every month or two they spend $300 on opera tickets and another $200 on fine wine. What the heck?!"

Actually having typed that out, I suspect that could end up triggering a BustOut alert lol

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Literally ROFL LMAO 

[Anonymous]

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C

I wonder if certain merchants have (of had) an opposite effect. Would opera tickets or purchases from high-end chocolatiers "offset" some purchases from low-end merchants?

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I think we might end up confusing the poor computer. "Hmmm this peasant is a habitual Walmart and McDonalds customer, but every month or two they spend $300 on opera tickets and another $200 on fine wine. What the heck?!"

Actually having typed that out, I suspect that could end up triggering a BustOut alert lol

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Literally ROFL LMAO 

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I am sure DW and I confuse the poor the computer. Walmart, Nordstrom, Jeep Repair,  Fast Food and  then her   Ivy League Alumni Association, some dinner/show tickets.  Same over and over.  

[Anonymous]

Update-

I have not submitted to their demands yet. I paid off All my balances totaling approx 235k and they don’t seem to have budged. I have moved all my vendor relations to my local bank account.

Regarding my credit, the 2 times I called to inquire about their request, both times these reps with interesting accents kept referencing my credit in the decision and told me my score (they either said 746 or 766). I guess mid 700’s is now subprime

[RicHowe]

This is a real shame. AMEX lost a high spend customer. Hope your bank treats you with generous terms to keep the business chugging along with no bumps.

[Anonymous]

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@Anonymous wrote:
Update-

I have not submitted to their demands yet. I paid off All my balances totaling approx 235k and they don’t seem to have budged. I have moved all my vendor relations to my local bank account.

Regarding my credit, the 2 times I called to inquire about their request, both times these reps with interesting accents kept referencing my credit in the decision and told me my score (they either said 746 or 766). I guess mid 700’s is now subprime

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This whole thread has been filled with a lot of information (some good and some bad). Sure am glad you were able to move to your local bank and keep focused on your business. In looking back I can remember (1972) when American Express was NOT interested in marketing to the masses and was a company serving the more affluent customers (I had the Platinum Business and Platinum Personal cards) where we shared that American Express took a very dim view of using their card products at low level services utilized by the masses. Granted that was a totally different era but, it lingers in the back of my mind. As to your situtation it is a shame and your credit scores are quite respectable. We each have to do what is best for us but I would have trouble staying with American Express based on your findings so far. What I do not understand is why they don't use on shore personnel (assumption on my part that may be totally off base) to deal with situations such as yours (assuming they want your business). Wish you the best and sure do appreciate your sharing the situation as one poster mentioned, it may give all of us a data point of reference .

[Spotsy]

Just had to throw my 5 cents in on this... ;-)

I have been asked by Amex and others for personal 4506-T forms over the years and declined them all. Only people that get those are the IRS and banks if I am getting a personal mortgage. All others can GPS (go pound sand).

There are way too many other options out there for personal CC spend that don’t require that intrusion on privacy...especiallly via a 4506-T. I would consider sending a tax return summary page...but giving them direct access to detailed tax return info directly from the IRS is off limits. Worried that they do more with that then financial review. It’s all about BIG DATA and Data Warehousing.

If I spend that much and need a large line, a business credit line may be more appropriate as I feel there could legal implications in the event your personal/Business financial life goes sour and you, by providing personal tax returns, could unintentiallly sign up other assets and income streams as collateral.

IMHO