topic Re: American Express F/R in Credit Cards

American Express F/R

Mutterz — Sun, 31 May 2015 15:07:10 GMT

I just received an American Express Delta Gold card yesterday on Saturday the 30th. I mainly got it because when I fly it’s on Delta.

I have a few other credit cards:

BoA: 4.9k

Wells Fargo: 5k

US Bank: 5k

Capital One Sig: 20k

Capital One Sig: 15k

Citi: 25k

Home Depot: 12k

Best Buy MC: 7k

Sears MC: 5k

Kohl’s: 3k

Anyways AmEx set my starting limit at 3k. I really didn’t mind so much I thought ok in about 6 months I’ll go for a CLI. I activated the card and went to use it for gas just to make sure it was working. Everything went ok and it was charged $37.14. This morning when I wake up I found this in my email:

We are writing regarding your American Express account(s) referenced above because we have been unable to reach you by telephone.

We are conducting a financial review of your account(s) and we have determined there are financial documents we need from you in order to complete our review. It is important that you call us at the number on the back of your card as soon as possible so that we can discuss what documents are required.

If you fail to provide the documents required within 14 days of the date of this letter, we may take additional credit actions up to and including cancellation of your account(s).

We have placed a restriction on your account(s) and no further charges will be allowed until this matter is resolved.

We look forward to hearing from you soon.

Sincerely,

American Express Credit Services

I really could not believe it. I have had a few friends that had this happen to them and its one of the reasons I never wanted an AmEx card to begin with. I put down the correct income when applying. I plan on telling them I have many other cards 5x – 8x that limit and have no interest in the card anymore and they can cancel it.

What do you think?

Re: American Express F/R

myjourney — Sun, 31 May 2015 15:12:47 GMT

Questions:

Is this your first Amex?

Did you just come off a app spree?

Reason I ask I see the Cap1/ Citi cards are larger than any of your other limits.

Re: American Express F/R

FocusedAndDetermined — Sun, 31 May 2015 15:15:09 GMT

It's entirelly a personal choice. If the card isn't that important to you or you feel sharing your personal financial data is too invasive, then cancel it. You could, at least, call and to learn exactly what they are requiring.

Sorry you had this experience so early in your Amex life.

Re: American Express F/R

Mutterz — Sun, 31 May 2015 15:16:42 GMT

@myjourney wrote:
Questions:
Is this your first Amex?
Did you just come off a app spree?
Reason I ask I see the Cap1/ Citi cards are larger than any of your other limits.

I did just apply for the Capital Ones Cards but after checking it only shows up as 1 hard pull on the report. The only other is AmEx.

Re: American Express F/R

Mutterz — Sun, 31 May 2015 15:18:27 GMT

@FocusedAndDetermined wrote:
It's entirelly a personal choice. If the card isn't that important to you or you feel sharing your personal financial data is too invasive, then cancel it. You could, at least, call and to learn exactly what they are requiring.

Sorry you had this experience so early in your Amex life.

I have heard the stories my friends told me and if they are requesting to get my taxes I have no interest in that. They are the only bank I have ever heard asking for that.

Re: American Express F/R

myjourney — Sun, 31 May 2015 15:21:29 GMT

@Mutterz wrote:
@myjourney wrote:
Questions:
Is this your first Amex?
Did you just come off a app spree?
Reason I ask I see the Cap1/ Citi cards are larger than any of your other limits.
I did just apply for the Capital Ones Cards but after checking it only shows up as 1 hard pull on the report. The only other is AmEx.

So the cards aren't reporting on CR's yet ....Correct?

And this is your first ever Amex card (Delta) correct never had an Amex?

Is Citi reporting on CR's and when did you get it?

Sorry for the questions just trying to gain insight as to what may have happened to help

Re: American Express F/R

ojefferyo — Sun, 31 May 2015 15:25:17 GMT

Wow sorry to hear OP, hope everything works out.

Re: American Express F/R

Anonymous — Sun, 31 May 2015 15:25:43 GMT

@FocusedAndDetermined wrote:
It's entirelly a personal choice. If the card isn't that important to you or you feel sharing your personal financial data is too invasive, then cancel it. You could, at least, call and to learn exactly what they are requiring.

Sorry you had this experience so early in your Amex life.

This. As suggested, call to make sure it isn't just an identity check (unlikely since it says financial documents) and decide if you want to provide what they want, probably a 4506-T.

Just be aware that if you decline, if you ever want an Amex card again, you will almost certainly have to provide the information then.

Re: American Express F/R

Mutterz — Sun, 31 May 2015 15:26:24 GMT

@myjourney wrote:
@Mutterz wrote:
@myjourney wrote:
Questions:
Is this your first Amex?
Did you just come off a app spree?
Reason I ask I see the Cap1/ Citi cards are larger than any of your other limits.
I did just apply for the Capital Ones Cards but after checking it only shows up as 1 hard pull on the report. The only other is AmEx.
So the cards aren't reporting on CR's yet ....Correct?
And this is your first ever Amex card (Delta) correct never had an Amex?
Is Citi reporting on CR's and when did you get it?

Sorry for the questions just trying to gain insight as to what may have happened to help

Not proublum as away.

The Capital Ones are not yet reporting.

It is my First AmEx card.

The Citi Card is reporting the correct limit with all on time payments for the life of the card 1.5 years. I never have more than $500 on it.

BoA, Wells Fargo, US Bank all reporting fine. Never a missed payment for the life of all accounts 5 years. I have always paid them in full 99% for the time.

Re: American Express F/R

myjourney — Sun, 31 May 2015 15:36:03 GMT

Wow

I have no clue what may have triggered it then ...

As Focus and LTL said the choice is yours weather you comply or not but I'm truly sorry you had this kind of experience on your 1st Amex product

Re: American Express F/R

Mutterz — Sun, 31 May 2015 15:40:23 GMT

I'm calling up just to see what they want. I'll post back here as soon as I hang up.

Re: American Express F/R

FocusedAndDetermined — Sun, 31 May 2015 15:48:52 GMT

@Mutterz wrote:
I'm calling up just to see what they want. I'll post back here as soon as I hang up.

Yes, please keep us posted, because this doesn't seem to be normal.

Re: American Express F/R

EW800 — Sun, 31 May 2015 15:57:53 GMT

Looking forward to hearing what you learn. Best wishes.

Re: American Express F/R

Anonymous — Sun, 31 May 2015 16:01:27 GMT

@Anonymous wrote:
@FocusedAndDetermined wrote:
It's entirelly a personal choice. If the card isn't that important to you or you feel sharing your personal financial data is too invasive, then cancel it. You could, at least, call and to learn exactly what they are requiring.

Sorry you had this experience so early in your Amex life.
This. As suggested, call to make sure it isn't just an identity check (unlikely since it says financial documents) and decide if you want to provide what they want, probably a 4506-T.

Just be aware that if you decline, if you ever want an Amex card again, you will almost certainly have to provide the information then.

Whats a 4056-T? Is providing a W2 not enough?

Re: American Express F/R

JSS3 — Sun, 31 May 2015 16:02:56 GMT

Was your stated income very high?

Re: American Express F/R

Mutterz — Sun, 31 May 2015 16:12:45 GMT

@myjourney wrote:
Wow
I have no clue what may have triggered it then ...
As Focus and LTL said the choice is yours weather you comply or not but I'm truly sorry you had this kind of experience on your 1st Amex product

they want to get a copy of the taxes for themselves. they would not say for sure what flagged it. i told them i would think on it but dont really need the card and i would more than likely cancel it.

Re: American Express F/R

Mutterz — Sun, 31 May 2015 16:13:46 GMT

@Anonymous wrote:
@Anonymous wrote:
@FocusedAndDetermined wrote:
It's entirelly a personal choice. If the card isn't that important to you or you feel sharing your personal financial data is too invasive, then cancel it. You could, at least, call and to learn exactly what they are requiring.

Sorry you had this experience so early in your Amex life.
This. As suggested, call to make sure it isn't just an identity check (unlikely since it says financial documents) and decide if you want to provide what they want, probably a 4506-T.

Just be aware that if you decline, if you ever want an Amex card again, you will almost certainly have to provide the information then.
Whats a 4056-T? Is providing a W2 not enough?

no a W-2 is not good enough. They want the form so they can get your taxes on their own.

Re: American Express F/R

Mutterz — Sun, 31 May 2015 16:14:46 GMT

@JSS3 wrote:
Was your stated income very high?

my income was stated accurately. But I would not say it was very high.

Re: American Express F/R

FocusedAndDetermined — Sun, 31 May 2015 16:17:29 GMT

@Mutterz wrote:
@myjourney wrote:
Wow
I have no clue what may have triggered it then ...
As Focus and LTL said the choice is yours weather you comply or not but I'm truly sorry you had this kind of experience on your 1st Amex product
they want to get a copy of the taxes for themselves. they would not say for sure what flagged it. i told them i would think on it but dont really need the card and i would more than likely cancel it.

Wow, truly odd. Did you ask if they would accept anything in lieu of taxes? On rare occasion, I've heard of them accepting bank statements and paystubs. Not sure if you feel the same way about submitting those docs. Whatever you decide I am sorry you had this strange and negative experience with Amex.

Re: American Express F/R

Mutterz — Sun, 31 May 2015 16:21:59 GMT

@FocusedAndDetermined wrote:
@Mutterz wrote:
@myjourney wrote:
Wow
I have no clue what may have triggered it then ...
As Focus and LTL said the choice is yours weather you comply or not but I'm truly sorry you had this kind of experience on your 1st Amex product
they want to get a copy of the taxes for themselves. they would not say for sure what flagged it. i told them i would think on it but dont really need the card and i would more than likely cancel it.
Wow, truly odd. Did you ask if they would accept anything in lieu of taxes? On rare occasion, I've heard of them accepting bank statements and paystubs. Not sure if you feel the same way about submitting those docs. Whatever you decide I am sorry you had this strange and negative experience with Amex.

I will call back later and ask about the statements. But really I don't see why they think they're all high and mighty to request they get yourtaxes for them self. As if a W-2 is is not good enough. I really don't need their card and don't plan on keeping it if this is the way they treat people.