topic How do I quote someone in a response? in Credit Cards

Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 09:59:07 GMT

I got an email that said,
"We recently attempted to contact you regarding your personal account referenced above. We would like to discuss your spending capacity and explain our underwriting process to you. Underwriting is the financial assessment of your spending capacity.

Please call us at 1-877-251-4528 so we can discuss the information we need. Please note that this is a time sensitive matter that could impact your existing spending capacity so we look forward to hearing from you soon.

Thank you for your Card Membership.

Sincerely,

American Express Account Services"

Is this the same thing as a financial review?
1) my cards are not frozen
2) I then tried using the spend tool thing to see if I could charge $5k and it said approved

But doing research on here and Googling it looks like for FR they freeze your accounts and it's not via email.

Does anyone have any idea what this could be?

I got the same email for both my PRG and SPG personal accounts.

Any help you experts could provide would be really appreciated

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 10:20:34 GMT

Also in case it's helpful... I just opened up the PRG in mid April and it has not run a full statement yet but I charged $58k on it so far. The SPG I've had since March of last year, and this is the first time anyone has contacted me about that (I got 2 emails one per personal account). The balance on that one is currently $48k with a CL of $30k so I am $18k over my CL but this isn't saying much because I go over my CL every month... last month I charged $92k on the SPG (multiple mid cycle payments) so I didn't think they are seeing anything new. Of course I zero out the balance before statement cuts monthly.
Could it be the new PRG?

Re: Help! AmEx Underwriting Review??

OmarGB9 — Thu, 05 May 2016 10:57:45 GMT

Holy **** that is a ton of spend! May I ask, is that personal, or business spend? Because if you're running business expenses through your personal cards, that is a big no no with Amex.

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 11:47:30 GMT

I think I just fainted looking at your spend numbers Give them a call and find out. Since your cards are not frozen seems like it cant be that bad??? Let us know how it turns out

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 12:30:37 GMT

@Anonymous wrote:
Also in case it's helpful... I just opened up the PRG in mid April and it has not run a full statement yet but I charged $58k on it so far. The SPG I've had since March of last year, and this is the first time anyone has contacted me about that (I got 2 emails one per personal account). The balance on that one is currently $48k with a CL of $30k so I am $18k over my CL but this isn't saying much because I go over my CL every month... last month I charged $92k on the SPG (multiple mid cycle payments) so I didn't think they are seeing anything new. Of course I zero out the balance before statement cuts monthly.
Could it be the new PRG?

Not sure about the rest of your CR's and such but at that spend rate and some time Amex may very well deem you Centurion Card worthy.

Re: Help! AmEx Underwriting Review??

CreditCuriosity — Thu, 05 May 2016 12:38:00 GMT

It isn't a FR review yet as your account's aren't frozen although they might want to see your 4506-t's or some other method of proof of income as your are running alot through. I would definitely give them a call and not blow it off. Let us know the outcome of the call please. Runnign business expenses though your person to have such high spend? Might be the reason for the call as well as they might be curious and possibly wanting you to go business card route?

Re: Help! AmEx Underwriting Review??

MyLoFICO — Thu, 05 May 2016 12:52:47 GMT

92K ?

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane.

Re: Help! AmEx Underwriting Review??

Mattopotamus — Thu, 05 May 2016 13:59:35 GMT

@OmarGB9 wrote:
Holy **** that is a ton of spend! May I ask, is that personal, or business spend? Because if you're running business expenses through your personal cards, that is a big no no with Amex.

serious question. Why would that be a no no? What if I have my own business so it is my personal and business card? Why would it be a no no to do that?

How do I quote someone in a response?

Anonymous — Thu, 05 May 2016 14:02:48 GMT

How do I quote someone in a response?

Re: How do I quote someone in a response?

Anonymous — Thu, 05 May 2016 14:09:03 GMT

PS I read in the Help section something about a "quote message" button but I don't see it either on mobile or full site view

I am on my iPhone

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 14:10:21 GMT

@OmarGB9 wrote:
Holy **** that is a ton of spend! May I ask, is that personal, or business spend? Because if you're running business expenses through your personal cards, that is a big no no with Amex.

This could be it... I spend both my personal and private business expenses on the card because my SPG Biz only has a 3k credit limit. I've had it since September but every time I try to do a CLI I've applied it to the Personal instead because the Personal I've had for 6 months longer it was easier to do a CLI with something that has a larger CL if that makes sense... Personal started out with $3.5K CL and then I did two every six months, but once you do one for the personal you can't for the business. So maybe this is the reason

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 14:13:28 GMT

@CreditCuriousity wrote:
It isn't a FR review yet as your account's aren't frozen although they might want to see your 4506-t's or some other method of proof of income as your are running alot through. I would definitely give them a call and not blow it off. Let us know the outcome of the call please. Runnign business expenses though your person to have such high spend? Might be the reason for the call as well as they might be curious and possibly wanting you to go business card route?

Thank you maybe this is it. I've notated above why I haven't spent it on my business card (I can't quote multiple people in one post w my phone I think, sorry for the numerous replies)

do you think though this was probably triggered by the new PRG account opening and too much spend on it before 1 month? I was reading and searching and it seems this flags AmEx a lot

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 14:15:02 GMT

@MyLoFICO wrote:
92K ?

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane.

For my personal business partially

I thought about this too because clearly I cannot stay within my limit for SPG but then thought if they were going to raise my limit they would just issue an auto CLI wouldn't they

Re: Help! AmEx Underwriting Review??

jamesdwi — Thu, 05 May 2016 14:21:06 GMT

@Anonymous wrote:
@MyLoFICO wrote:
92K ?

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane.
For my personal business partially
I thought about this too because clearly I cannot stay within my limit for SPG but then thought if they were going to raise my limit they would just issue an auto CLI wouldn't they

if you provide the requested documentation, and they were satisfied, they would just give you the auto CLI they are feel you are worthy of. Not sure of AMEX internals but they may need to transfer you to another team to increase CL on the Biz card but i'm sure AMEX values your business and will treat you right, a 1 million a year in card swipes is nothing to sneeze at.

Re: Help! AmEx Underwriting Review??

MyLoFICO — Thu, 05 May 2016 14:23:54 GMT

@Anonymous wrote:
@MyLoFICO wrote:
92K ?

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane.
For my personal business partially
I thought about this too because clearly I cannot stay within my limit for SPG but then thought if they were going to raise my limit they would just issue an auto CLI wouldn't they

i bet you have a butt-ton of points or whatever it is that AMEX gives as rewards. You could probably travel around the world. lol

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 14:29:13 GMT

@Anonymous wrote:
@OmarGB9 wrote:
Holy **** that is a ton of spend! May I ask, is that personal, or business spend? Because if you're running business expenses through your personal cards, that is a big no no with Amex.
This could be it... I spend both my personal and private business expenses on the card because my SPG Biz only has a 3k credit limit. I've had it since September but every time I try to do a CLI I've applied it to the Personal instead because the Personal I've had for 6 months longer it was easier to do a CLI with something that has a larger CL if that makes sense... Personal started out with $3.5K CL and then I did two every six months, but once you do one for the personal you can't for the business. So maybe this is the reason

PS to the above though it's not like I don't spend on the SPG Biz, I try the best I can but I usually tire out at around 12k spend per cycle because of all of the multiple payments (the spend max on this is 6k with the 3k CL before it starts to decline me. So I will make about one mid cycle payment after spending 6 and then go through again and then go back to personal)

I will call them later today as I just got the two emails yesterday but it's stressing me out a bit and I like to anticipate things beforehand

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 14:40:32 GMT

@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
92K ?

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane.
For my personal business partially
I thought about this too because clearly I cannot stay within my limit for SPG but then thought if they were going to raise my limit they would just issue an auto CLI wouldn't they
i bet you have a butt-ton of points or whatever it is that AMEX gives as rewards. You could probably travel around the world. lol

Haha indeed I do rack up a significant amount of points but that's why I try to stick to SPG these last few months after the Marriott merger announcement and not knowing what's going to happen to SPG I want to earn as many of those as possible as they are the most versatile rewards points with so many airline transfer partners and the 20% transfer bonus for most airlines.

My monthly spend is about $120 to $150k across both personal and my business but it is a set amount and doesn't increase but it is allocated by me accordingly based on what I want to earn that month. So for example because of the PRG spend, this past month I allotted $0 spend on my Citi Executive Aadvantage MC which last month was $55k spend since that spend amount got re-allotted to PRG if that makes sense. And my Barclay Aviator spend was reduced to 1/3 ($11k from $30k) because of the increased SPG spend last month. In this way my spend is still set and doesn't go over

if I could somehow relay this articulately to AmEx perhaps they would think I am less of a risk since it's not like I am technically spending more it just gets re-allocated...

Re: Help! AmEx Underwriting Review??

jamesdwi — Thu, 05 May 2016 14:45:52 GMT

@Anonymous wrote:
@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
92K ?

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane.
For my personal business partially
I thought about this too because clearly I cannot stay within my limit for SPG but then thought if they were going to raise my limit they would just issue an auto CLI wouldn't they
i bet you have a butt-ton of points or whatever it is that AMEX gives as rewards. You could probably travel around the world. lol
Haha indeed I do rack up a significant amount of points but that's why I try to stick to SPG these last few months after the Marriott merger announcement and not knowing what's going to happen to SPG I want to earn as many of those as possible as they are the most versatile rewards points with so many airline transfer partners and the 20% transfer bonus for most airlines.

My monthly spend is about $120 to $150k across both personal and my business but it is a set amount and doesn't increase but it is allocated by me accordingly based on what I want to earn that month. So for example because of the PRG spend, this past month I allotted $0 spend on my Citi Executive Aadvantage MC which last month was $55k spend since that spend amount got re-allotted to PRG if that makes sense. And my Barclay Aviator spend was reduced to 1/3 ($11k from $30k) because of the increased SPG spend last month. In this way my spend is still set and doesn't go over
if I could somehow relay this articulately to AmEx perhaps they would think I am less of a risk since it's not like I am technically spending more it just gets re-allocated...

They really don't care what you spend it on, or how you divide your spend (bussiness vs personal spend asside), they only care that you have attained the funds legally, and you have funds availible to pay them back. Secondarily that you continue to use your AMEX cards as much as possible.

Re: Help! AmEx Underwriting Review??

CreditCuriosity — Thu, 05 May 2016 14:47:42 GMT

Ya most likely they are going to question why business expenses are on personal CC's. I am guessing that is why they want to speak to you and where it goes form there, not sure. That is alot of spend on a personal PRG per month which raised a red fled of some sort most likely. Call them up is the only way you can know for sure

Re: Help! AmEx Underwriting Review??

Anonymous — Thu, 05 May 2016 14:59:31 GMT

Thank you. I will call them. I don't know why things like this stress me out so much