topic Re: American Express Geez in Credit Cards

American Express Geez

12njoy — Sat, 06 Feb 2016 02:22:28 GMT

After nearly three years, I get a letter in the mail for Select & Pay Later (Pay over time). Not that I plan on using it, but I wanted to have it available. So I call Amex to ask some questions about the APR which is 18.49% and if they're offering any bonus points for accepting. They said no to bonus points and the APR is set at the time of offer. I then look around the site at other options. I had requested a CLI on one of my BCP's a couple of weeks ago which was denied. I click on update income to see what they had. Why did they have my annual income at $11,500. I asked the csr because they were still on the phone with me at this time, what income did they use for my CLI request. My actual income is $115,000. The edit income features says my income was updated on January 6, 2016. I have no idea how it got to be $11,500 but I would have thought that with over $600,000 on an annual income of $11,500, they would have closed everything I had with Amex. The csr updated my income and processed another CLI request and said to call back in 48 business hours. This if awfully strange. I know I didn't miss a zero when I requested a CLI. That just makes no sense that they would over me this new feature with what I have with Amex on an annual salary of $11,500.

Re: American Express Geez

Jarrodpd — Sat, 06 Feb 2016 07:58:10 GMT

@12njoy wrote:
After nearly three years, I get a letter in the mail for Select & Pay Later (Pay over time). Not that I plan on using it, but I wanted to have it available. So I call Amex to ask some questions about the APR which is 18.49% and if they're offering any bonus points for accepting. They said no to bonus points and the APR is set at the time of offer. I then look around the site at other options. I had requested a CLI on one of my BCP's a couple of weeks ago which was denied. I click on update income to see what they had. Why did they have my annual income at $11,500. I asked the csr because they were still on the phone with me at this time, what income did they use for my CLI request. My actual income is $115,000. The edit income features says my income was updated on January 6, 2016. I have no idea how it got to be $11,500 but I would have thought that with over $600,000 on an annual income of $11,500, they would have closed everything I had with Amex. The csr updated my income and processed another CLI request and said to call back in 48 business hours. This if awfully strange. I know I didn't miss a zero when I requested a CLI. That just makes no sense that they would over me this new feature with what I have with Amex on an annual salary of $11,500.

I keep gradually upping my salary though my actual yearly bring home is less than what is than $11.5k (college student) and I was sent the letter saying they were turning on POT, Im surprised they havent asked me to prove my income with appropriate documents. I have had Amex since October 2014 and to date have charged $27k across my three cards which if far more than I actually make, im able to do this by getting reimbursed by my parents for large purchases I make on their behalf.

Re: American Express Geez

12njoy — Sat, 06 Feb 2016 08:00:29 GMT

@Jarrodpd wrote:
@12njoy wrote:
After nearly three years, I get a letter in the mail for Select & Pay Later (Pay over time). Not that I plan on using it, but I wanted to have it available. So I call Amex to ask some questions about the APR which is 18.49% and if they're offering any bonus points for accepting. They said no to bonus points and the APR is set at the time of offer. I then look around the site at other options. I had requested a CLI on one of my BCP's a couple of weeks ago which was denied. I click on update income to see what they had. Why did they have my annual income at $11,500. I asked the csr because they were still on the phone with me at this time, what income did they use for my CLI request. My actual income is $115,000. The edit income features says my income was updated on January 6, 2016. I have no idea how it got to be $11,500 but I would have thought that with over $600,000 on an annual income of $11,500, they would have closed everything I had with Amex. The csr updated my income and processed another CLI request and said to call back in 48 business hours. This if awfully strange. I know I didn't miss a zero when I requested a CLI. That just makes no sense that they would over me this new feature with what I have with Amex on an annual salary of $11,500.
I keep gradually upping my salary though my actual yearly bring home is less than what is than $11.5k (college student) and I was sent the letter saying they were turning on POT, Im surprised they havent asked me to prove my income with appropriate documents. I have had Amex since October 2014 and to date have charged $27k across my three cards which if far more than I actually make, im able to do this by getting reimbursed by my parents for large purchases I make on their behalf.

Congrats to you. That is some good energy you have with Amex

Re: American Express Geez

Anonymous — Sat, 06 Feb 2016 08:03:45 GMT

@Jarrodpd wrote:
@12njoy wrote:
After nearly three years, I get a letter in the mail for Select & Pay Later (Pay over time). Not that I plan on using it, but I wanted to have it available. So I call Amex to ask some questions about the APR which is 18.49% and if they're offering any bonus points for accepting. They said no to bonus points and the APR is set at the time of offer. I then look around the site at other options. I had requested a CLI on one of my BCP's a couple of weeks ago which was denied. I click on update income to see what they had. Why did they have my annual income at $11,500. I asked the csr because they were still on the phone with me at this time, what income did they use for my CLI request. My actual income is $115,000. The edit income features says my income was updated on January 6, 2016. I have no idea how it got to be $11,500 but I would have thought that with over $600,000 on an annual income of $11,500, they would have closed everything I had with Amex. The csr updated my income and processed another CLI request and said to call back in 48 business hours. This if awfully strange. I know I didn't miss a zero when I requested a CLI. That just makes no sense that they would over me this new feature with what I have with Amex on an annual salary of $11,500.
I keep gradually upping my salary though my actual yearly bring home is less than what is than $11.5k (college student) and I was sent the letter saying they were turning on POT, Im surprised they havent asked me to prove my income with appropriate documents. I have had Amex since October 2014 and to date have charged $27k across my three cards which if far more than I actually make, im able to do this by getting reimbursed by my parents for large purchases I make on their behalf.

So if your actual income is 11.5k, then what do you report on your credit card applications? Also, may I know your age? (you said you were a college student)

Re: American Express Geez

Mattopotamus — Sat, 06 Feb 2016 08:32:09 GMT

I remember reading, maybe a month ago, another user was having issues with their income saving on the Amex website. It kept resetting.

Re: American Express Geez

Anonymous — Sat, 06 Feb 2016 10:14:49 GMT

I received something from my Gold Rewards Card regarding being approved for POT, but I didn't really pay much attention to it. I always pay my 3 Amex cards (Gold Rewards, BCP, and Delta PLAT) in full every month. How does this POT work and what benefits does it offer over other CC's, like my VISA card's ??

Re: American Express Geez

score_building — Sat, 06 Feb 2016 12:01:17 GMT

POT (high APR) isn't something to seek out, let the offers come through and ignore unless bonus is offered. I've never accepted without the 10k bonus attached, abosolutely no good reason to do so.

Re: American Express Geez

redpat — Sat, 06 Feb 2016 14:52:51 GMT

Geez, lol.....CL 536% of income, wow, that's even a lot with 115,000 of income.

That's one hell of a wallet you carry around.....

Re: American Express Geez

takeshi74 — Sat, 06 Feb 2016 14:56:30 GMT

@Anonymous wrote:
How does this POT work and what benefits does it offer over other CC's, like my VISA card's ??

There's no benefit inherent to POT itself. There is, however a benefit to charge cards in that they don't impact revolving utilization for current FICO models. However, it is still generally a bad idea to carry a balance in general and especially so at the high POT rates.

Re: American Express Geez

12njoy — Sat, 06 Feb 2016 15:06:57 GMT

@redpat wrote:
Geez, lol.....CL 536% of income, wow, that's even a lot with 115,000 of income.

That's one hell of a wallet you carry around.....

Thanks. Lol

Re: American Express Geez

Jarrodpd — Fri, 12 Feb 2016 03:27:42 GMT

@Anonymous wrote:
@Jarrodpd wrote:
@12njoy wrote:
After nearly three years, I get a letter in the mail for Select & Pay Later (Pay over time). Not that I plan on using it, but I wanted to have it available. So I call Amex to ask some questions about the APR which is 18.49% and if they're offering any bonus points for accepting. They said no to bonus points and the APR is set at the time of offer. I then look around the site at other options. I had requested a CLI on one of my BCP's a couple of weeks ago which was denied. I click on update income to see what they had. Why did they have my annual income at $11,500. I asked the csr because they were still on the phone with me at this time, what income did they use for my CLI request. My actual income is $115,000. The edit income features says my income was updated on January 6, 2016. I have no idea how it got to be $11,500 but I would have thought that with over $600,000 on an annual income of $11,500, they would have closed everything I had with Amex. The csr updated my income and processed another CLI request and said to call back in 48 business hours. This if awfully strange. I know I didn't miss a zero when I requested a CLI. That just makes no sense that they would over me this new feature with what I have with Amex on an annual salary of $11,500.
I keep gradually upping my salary though my actual yearly bring home is less than what is than $11.5k (college student) and I was sent the letter saying they were turning on POT, Im surprised they havent asked me to prove my income with appropriate documents. I have had Amex since October 2014 and to date have charged $27k across my three cards which if far more than I actually make, im able to do this by getting reimbursed by my parents for large purchases I make on their behalf.
So if your actual income is 11.5k, then what do you report on your credit card applications? Also, may I know your age? (you said you were a college student)

Sorry for the late response, My actual take home based off of last year was $8,300, this year my income will be up higher as I got a new job and make tips so I should be more so in the ball park of $13/14K so that will allow me to raise limits hopefully after I get my chase card paid down to $0. I claim about $3k more than I make just on the basis that I do make purchases for my parents and also my mom has an AU card on my account. I just turned 21 two weeks ago.

Re: American Express Geez

Anonymous — Fri, 12 Feb 2016 08:42:26 GMT

Good for you. As long as you are responsible I see nothing wrong with reporting household income, especially when half the time it says report all income available to you to pay the bill.

Just remember anything over 25k on an Amex they will more than likely request 4506-T forms and you'd have to include theirs too.

As far as POT I wanted the feature just to have it. I'll never use it but in the event I wanted to buy something big and have a few days extra to move money it would be worth it. (or if your bestie flakes on paying their portion of a cruise) Then again I'd like to test the waters on my Commerce bank vs or amtrak WMC as they both report as flexible spending. Who am I kidding I'm not ever charging more than my limit!