Reply
Established Member
Posts: 46
Registered: ‎01-08-2013
0

Nice while it lasted - AMEX FR!

[ Edited ]

So looks like my experience with American Express will be less than 1 month. 

 

Despite the fact that they had me send in bank statements AND pay stubs prior to approving my application, Amex today hit me with an FR...**bleep**

 

I only worked 3 months in 2011 (took a long sabbatical from work to take care of my father after he had a stroke), so even if I agreed, my income for the year would only show $45K and not my 2012 income which was over $130k and was also what I put on the app. So even IF I sent the tax forms, they would still shut me down. When I said this to the agent she replied,

 

"well sir we have to be able to verify your information"

 

I replied, "but that information is not current, it is outdated and does not tell the story of what happened to me in 2011, AND you have already seen my actual income at the time of application. My 2011 numbers in no way show my ability to pay current debts. Can I give you 2010 taxes, I still work at the same company."

 

her scripted reply "well sir, if you can't verify the income American Express may have to take adverse action. We can not take your 2010 taxes as those are dated///"

 

My reply, "So if I can not verify my current income through outdated data from 2011, and not current data, you may close my account? And, I can not use outdated data from 2010 because it is outdated but outdated data from 2011 is current enough to be used for these purposes?"

 

"yes"

 

HOW IS THIS AN ACCEPTABLE BUSINESS PRACTICE!!!! Looks like I am closing my card.

 

edit: I also offered to file 2012 taxes sooner than originally planned and let them take those, they again rejected and said it has to be from 2011. 

Amex Delta Gold $8,000 - Discover IT $1,250 - Citi Foward $2,000 - Capital One $300 - Banana Republic $300 - Walmart $300
Regular Contributor
Posts: 206
Registered: ‎07-07-2008
0

Re: Nice while it lasted - AMEX FR!

Don't burn the bridge from your side by closing any account. Let them take a look first. 8k is still ok even if the 4506T is not the current one they want to look at. There might be a time when you need them for a variety of reasons. Of course, just an opinion.

 

Any particular reason why they decided to do it though? Any recent changes in spending patterns? 

Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Nice while it lasted - AMEX FR!


MustangSaluki wrote:

Don't burn the bridge from your side by closing any account. Let them take a look first. 8k is still ok even if the 4506T is not the current one they want to look at. There might be a time when you need them for a variety of reasons. Of course, just an opinion.

 

Any particular reason why they decided to do it though? Any recent changes in spending patterns? 


Looks like a hard decision in that the 8K CL is a major piece of your credit. If you don't need that, or are fairly confident that you can replace it with another issuer, I would be inclined to close because they are being too hard to work with!  (Amex isn't the be all of credit!).  But otherwise, you might want to cooperate and see what happens.

Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Nice while it lasted - AMEX FR!

Also, if you do close and then need a card from them,  they may well give you a card and then do a near-immediate FR.  If you are happy enough with giving tax info, that might work out fine, as if you do it this time next year you will have a perfectly good 2012 return.

Established Member
Posts: 46
Registered: ‎01-08-2013
0

Re: Nice while it lasted - AMEX FR!

[ Edited ]

i am just worried about ending this process with a closed by grantor on my credit.

 

She questioned me about a delta purchase i made. I assume that is what did it. FR'd for a delta purchase on my delta amex card.....

Amex Delta Gold $8,000 - Discover IT $1,250 - Citi Foward $2,000 - Capital One $300 - Banana Republic $300 - Walmart $300
Established Member
Posts: 46
Registered: ‎01-08-2013
0

Re: Nice while it lasted - AMEX FR!


bs6054 wrote:

Also, if you do close and then need a card from them,  they may well give you a card and then do a near-immediate FR.  If you are happy enough with giving tax info, that might work out fine, as if you do it this time next year you will have a perfectly good 2012 return.



I will probably close and reapply in a year. i just dont want to risk a closed by grantor on a card that is less than a month old considering how limited my credit is right now.

Amex Delta Gold $8,000 - Discover IT $1,250 - Citi Foward $2,000 - Capital One $300 - Banana Republic $300 - Walmart $300
Valued Contributor
Posts: 1,275
Registered: ‎09-22-2009
0

Re: Nice while it lasted - AMEX FR!

CLOSE IT.  Having an AMEX or any other flavor of credit card is simply not worth the level of intrusion into your personal finances that allowing them to have your tax returns does.  I've been an AMEX customer for 27 years, and although I've never been F/R'd, I would close every AMEX account I have without even thinking twice should they ask for one.

EQ FICO - EQ08 - 850 - 01/01/15
TU FICO - TU08 - 850 - 01/01/15
EX FICO - EX08 - 850 - 01/01/15
EX FICO - V2 - 840 - 01/01/15
EQ FICO - EQ04 - 818 - 01/01/15
EQ FICO - Bankcard Enhanced 8 - 885 - 1/24/15
Frequent Contributor
Posts: 496
Registered: ‎11-13-2012
0

Re: Nice while it lasted - AMEX FR!


android01 wrote:

CLOSE IT.  Having an AMEX or any other flavor of credit card is simply not worth the level of intrusion into your personal finances that allowing them to have your tax returns does.  I've been an AMEX customer for 27 years, and although I've never been F/R'd, I would close every AMEX account I have without even thinking twice should they ask for one.


Why do you say this? They already have your personal information, SS#, employment data, etc... what's the big problem backing up what was stated on an app?


GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev



Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
0

Re: Nice while it lasted - AMEX FR!


jake619 wrote:

android01 wrote:

CLOSE IT.  Having an AMEX or any other flavor of credit card is simply not worth the level of intrusion into your personal finances that allowing them to have your tax returns does.  I've been an AMEX customer for 27 years, and although I've never been F/R'd, I would close every AMEX account I have without even thinking twice should they ask for one.


Why do you say this? They already have your personal information, SS#, employment data, etc... what's the big problem backing up what was stated on an app?


Agreed

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Valued Contributor
Posts: 1,275
Registered: ‎09-22-2009
0

Re: Nice while it lasted - AMEX FR!


Repo-ed wrote:

jake619 wrote:

android01 wrote:

CLOSE IT.  Having an AMEX or any other flavor of credit card is simply not worth the level of intrusion into your personal finances that allowing them to have your tax returns does.  I've been an AMEX customer for 27 years, and although I've never been F/R'd, I would close every AMEX account I have without even thinking twice should they ask for one.


Why do you say this? They already have your personal information, SS#, employment data, etc... what's the big problem backing up what was stated on an app?


Agreed


Because there is far more information in your tax returns than just SSN#, and employment data.  here's a list from what can be gleaned from a 1040 alone, not to mention other schedules they would have access to.

 

With only a 1040 transcript they can get:

 

Concept & 1040 Line #

 

1) Names & SSNs of your entire family and your ex-spouse:  6a, 6b, 6c, 31a
2) Marital status:  Right at the top of the form.
3) Alimony & child support: 11
4) HSA contributions: 25
5) Blind: 39a
6) Immigration status: 39b (also they can tell by your SSN)
7) Bank account number: 74b, 74c, 74d
8) Children adopted: 71b
9) Qualified health insurance plan:
10) Combat zone pay: 64b
11) Child care expenses: 48
12) First time home buyer: 67
13) Continuing education: 49 & 66 & 34
14) Retirement funds: 50
15) Unemployed you / spouse at any period during the year: 19
16) Rental income: 17
17) Social security benefits: 20a
18) What fuel does your car consume: 70
19) Energy-related home improvements:52
20) Own or rent your home: 52 & 67
21) Pay taxes in installments: 68

 

EQ FICO - EQ08 - 850 - 01/01/15
TU FICO - TU08 - 850 - 01/01/15
EX FICO - EX08 - 850 - 01/01/15
EX FICO - V2 - 840 - 01/01/15
EQ FICO - EQ04 - 818 - 01/01/15
EQ FICO - Bankcard Enhanced 8 - 885 - 1/24/15
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.