@Nightfallx wrote:i just got approved for my amex zync 2 days ago, i was playing around with the spending ability button i didn't know they monitored that it was just something new im sure lots of people do that. anyways im scared to get fr'd i sorta lied a bit on my income, i make about 15$ an hour full time and i put 30k a year which would be close to that much and didn't know they did such a horrible practice like FR, but i pay all my cc's in full i don't wanna get fr'd considering i won't miss payments, say i do get fr'd can i decline to share my tax info? because im not paying 57$ for their request of my taxes.
Well, I feel I must point out the obvious and say you should never lie on a CC application. Not only is it unethical, but I think it's illegal as well. If you're not on salary, then I can understand kind of "rounding up" your income since you don't know for sure (paid hourly) what you'll make...I did this, and I see nothing wrong with it --I'm simply giving an estimate. Now, if you're greatly exaggerating your income or just flat out lying, then yeah, it's bound to come bite you.
As far as the FR, you don't have to participate, but they will close your account. So no, you don't have to pay the $57 for your taxes, but they'll canel your card. It just depends on whether or not you see it being worh the hassle of an FR to keep your card.
@haulingthescoreup wrote:$15/ hour works out to $30K per year, pretty much, IF you work full time. And I agree with PP that you shoudn't be fudging your apps. It always comes back to bite you.
That being said, you are not necessarily going to get F/R'd. STOP playing with the stupid spending ability button.
What is it with everyone wanting to fool around with the stupid button???
@Anonymous use the card the way that you would if you knew that you had a fixed limit. Buy gas, buy grocreries, pick up a shirt, whatever, and then pay your bill immediately. Stop trying to game the system with the @#$%^&* spending ability button. sheesh
(sorry, I'm not attacking you; I just genuinely do not understand this fascination with the freakin' spending ability button!!!)
I must be honest...the ONLY reason I haven't clicked that button yet is because of what I read here. Had I not known AMEX watches you like a hawk for the first 6 months or so, I would have clicked it when I first logged on. It's very tempting. I guess it's just the mystery behind it; curiousity as to how much of a "limit" you have or how much money AMEX trusts you to spend.
@FloridaState12 wrote:
@haulingthescoreup wrote:$15/ hour works out to $30K per year, pretty much, IF you work full time. And I agree with PP that you shoudn't be fudging your apps. It always comes back to bite you.
That being said, you are not necessarily going to get F/R'd. STOP playing with the stupid spending ability button.
What is it with everyone wanting to fool around with the stupid button???
@Anonymous use the card the way that you would if you knew that you had a fixed limit. Buy gas, buy grocreries, pick up a shirt, whatever, and then pay your bill immediately. Stop trying to game the system with the @#$%^&* spending ability button. sheesh
(sorry, I'm not attacking you; I just genuinely do not understand this fascination with the freakin' spending ability button!!!)
I must be honest...the ONLY reason I haven't clicked that button yet is because of what I read here. Had I not known AMEX watches you like a hawk for the first 6 months or so, I would have clicked it when I first logged on. It's very tempting. I guess it's just the mystery behind it; curiousity as to how much of a "limit" you have or how much money AMEX trusts you to spend.
I hear ya, I'm plenty curious too. Sometimes I will poke things with a stick to see what happens.
But I'm also uber-chicken about everything, especially credit-related, and I figure that if someone wants to tell me my limit, they'll tell me, and I'm not going to rattle their chains. 
It is one of the things that irritates me about AmEx --they do seem to make it awfully easy for people to shoot themselves in the foot. (Feet?)
Again, my rule of thumb for how to handle an AmEx card is to mimic what the stereotypical old-school AmEx member would do. This member got a Green card back in 1971, and he (excellent chance that it was a he) used it to buy plane tickets and hotel rooms and dinners for business colleagues and a nice pair of earrings for the wife and a pretty bracelet (hopefully not more expensive than the earrings) for his secretary. So I just use my cards a lot, without nudging and tweaking and pushing, and I pay them off prompty. I really do not want to get the reply from them that no, I don't have X amount of credit! 
@Nightfallx wrote:
I work as a pizza driver I make minimum wage plus tips it equals to about 15$ an hour. It's hard for me to prove what I make but I don't miss payments I usually make so much idk what to do with it mostly save. And when I messed with the button I never put more than 250.00$ which is the ammount they told me is my credit limit
I hear ya. I work in retail and make minimum. My hours per week can range from 15 hours to 30 hours. It just depends. So it's kind of hard to definitively say how much money I make because it varies literally every week, so I just have to kind of estimate.
My personal experience: I just came out of a FR and if you are FR'd, then it doesn't cost you anything to fill out the 4506T form and send it in. If you refuse, and you can or just not comply within 4 days, they will close the account. No harm no foul other then the HI on your credit file.
What they are looking for is your last years annual income. I can pretty much tell you that if you didn't make what you put on your app or close to it, there is a very good possiblity that you will be closed. That having being said, when I spoke with the rep, he said that you should treat the card like a new pair of shoes when you first get it because AMEX is just learning your habits and spending patterns for the first couple of months. That's from the horse's mouth. 
Like Hauling said.... STOP Playing with that @#$@% button. 
Starting Score: 642