topic New Job - Prequal for Amex Plat - How to verify income? in Credit Card Applications

Prequalified for Amex Platinum - 14 days

Anonymous — Wed, 22 Dec 2021 03:29:24 GMT

How solid are these prequals? 680-700 FICOS. BK7 a little over 5 years ago.

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Re: Prequalified for Amex Platinum - 14 days

pizzadude — Tue, 21 Dec 2021 02:54:36 GMT

No preapproval is 100% but I think with Amex it's a good sign that you have decent odds of approval.

You didn't previously burn Amex in your BK, correct? If so then your odds are substantially lower.

Re: Prequalified for Amex Platinum - 14 days

Anonymous — Tue, 21 Dec 2021 03:06:23 GMT

Never burned Amex, in fact, had lots of high limit AU accounts with them.

Re: Prequalified for Amex Platinum - 14 days

pizzadude — Tue, 21 Dec 2021 03:21:36 GMT

That's good, and you're over 5 yrs post-BK so those are both positives. You might be good, but ultimately it'll depend on your overall profile, income, and whatever other ingredients make up Amex's underwriting secret sauce

Re: Prequalified for Amex Platinum - 14 days

coldfusion — Tue, 21 Dec 2021 13:36:00 GMT

You never burned AMEX so the prequal is valid, although a followon approval is not a sure thing, as long as you're more than 61 months post-BK.

Re: Prequalified for Amex Platinum - 14 days

jcooks — Tue, 21 Dec 2021 15:44:14 GMT

I would also recommend going with the Resy Amex offer. It's the same card except it gives 15x on all dining for 6 months.

Re: Prequalified for Amex Platinum - 14 days

CerebralZulu — Wed, 22 Dec 2021 03:24:08 GMT

@jcooks wrote:
I would also recommend going with the Resy Amex offer. It's the same card except it gives 15x on all dining for 6 months.

@jcooks ,or anyone, what is the Resy offer?

Re: Prequalified for Amex Platinum - 14 days

FinStar — Wed, 22 Dec 2021 03:31:34 GMT

@CerebralZulu wrote:
@jcooks wrote:
I would also recommend going with the Resy Amex offer. It's the same card except it gives 15x on all dining for 6 months.
@jcooks ,or anyone, what is the Resy offer?

https://resy.com/amex-offers

New Job - Prequal for Amex Plat - How to verify income?

Anonymous — Wed, 23 Feb 2022 20:10:36 GMT

I was prequalified for the Platinum and BCE on their website and put in my current income. I started this job last year and hadn't done much since 2018. I think my last tax return only has 20K income reporting, but my current income is 104K. I attached three months worth of bank statements along with the tax form and they said they absolutely do no consider bank statements and go off taxes.

The last year I filed was 2019 which doesn't show my current income. Has anyone ran into this? Don't want to get denied due to them considering income from three years ago and I filed my taxes this year, but they aren't available to Amex or anyone until August. I swear there had a form that accepted three months of bank statements and would even call your bank with you on the phone.

Younger people with a new job, how the heck did you get approved for Amex without any really good tax years? (i.e. just graduated from college with a 100K job now). This makes ZERO sense for them to be considering 2019 income and not including bank statements into this. Maybe it's just a formality?

Re: New Job - Prequal for Amex Plat - How to verify income?

Brian_Earl_Spilner — Wed, 23 Feb 2022 20:45:40 GMT

I've never had to provide IV or tax forms. Even when I got my first gold at 19 with my sub-poverty military income.

Re: New Job - Prequal for Amex Plat - How to verify income?

simplynoir — Wed, 23 Feb 2022 21:11:29 GMT

As @Brian_Earl_Spilner mentioned above there's not really that many instances of AMEX asking for income verification on an application. They have many ways to verify the information provided on an application to approve a customer. What might be an issue is spending on the card(s) once approved. On a card like the Platinum it might be where for awhile they might restrict how much you can spend before asking for payment to free up charging privileges. Hard to say if it will happen and for how much since we don't know how AMEX's algorithm determines risk with a customer

Assuming your scores are on the up and up I think you'll be approved, it's how they'll let you charge on the card that will a work in progress maybe. Best way to find out is apply, get approved and go from there

Re: New Job - Prequal for Amex Plat - How to verify income?

FinStar — Wed, 23 Feb 2022 23:00:41 GMT

@Anonymous wrote:
I was prequalified for the Platinum and BCE on their website and put in my current income. I started this job last year and hadn't done much since 2018. I think my last tax return only has 20K income reporting, but my current income is 104K. I attached three months worth of bank statements along with the tax form and they said they absolutely do no consider bank statements and go off taxes.

The last year I filed was 2019 which doesn't show my current income. Has anyone ran into this? Don't want to get denied due to them considering income from three years ago and I filed my taxes this year, but they aren't available to Amex or anyone until August. I swear there had a form that accepted three months of bank statements and would even call your bank with you on the phone.

Younger people with a new job, how the heck did you get approved for Amex without any really good tax years? (i.e. just graduated from college with a 100K job now). This makes ZERO sense for them to be considering 2019 income and not including bank statements into this. Maybe it's just a formality?

Except, based on this recent thread (https://ficoforums.myfico.com/t5/Credit-Cards/Amex-is-Promoting-Credit-One/m-p/6477878), you refused to provide AENB with access to tax transcripts. So, this prompt will come up more than likely every time you try to apply.

This isn't really about younger people with a new job. It can be any age group with a similar background. Simply put, AENB has sophisticated AI algorithms to discern specific data patterns and plenty of resources at their disposal to verify the information you provide.

If it is requested, it is because there are some data discrepancies, not because it's "a formality". Compliance goes a long way to determine that the information lenders are able to verify matches with what's listed on your application.

So, what happened with your December pre-qualification app?

Re: New Job - Prequal for Amex Plat - How to verify income?

Anonymous — Thu, 24 Feb 2022 02:19:26 GMT

I already sent in the tax form, but could only write down 2019. So they're gonna get a very different picture than what I really make.

Re: New Job - Prequal for Amex Plat - How to verify income?

Anonymous — Sun, 06 Mar 2022 04:00:12 GMT

Will I just get a low limit or can I recon SL with bank statements? I was also pre approved for BCE and that's pending taxes as well. Hope that limit can reflect current salary

UPDATE:

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Amex-Delta-Gold-Instant-Approval-First-Amex-Ever/td-p/6500149

Re: New Job - Prequal for Amex Plat - How to verify income?

FinStar — Thu, 24 Feb 2022 02:46:54 GMT

@Anonymous wrote:
Will I just get a low limit or can I recon SL with bank statements? I was also pre approved for BCE and that's pending taxes as well. Hope that limit can reflect current salary

Unfortunately, they will not reconsider the limit with bank statements.

At this point, just let things play out and see what it yields once they have processed everything for either card. If they approve a lower than expected limit on BCE, it's possible it can grow over time. Otherwise, if approved with something more flexible, then that's that.