topic Re: Amex Financial review in Credit Cards

Amex Financial review

Anonymous — Fri, 10 Jun 2016 19:08:03 GMT

So I've been on this site for around 15 months and in this time I have learned a lot I went from having no credit card to 7, This week started out well because I was aproved for the chase freedom U so I had a relationship with all the major CC companies. I try and use them responsibly so so far I have. So I have had my Amex green card for a little over a year and I decided to upgrade to the PRG I have a history of always paying on time I found out that I could have up to 3 additional authorized using for no fee. So I decided to add 3 in April Upgrade in late March. So one of my authorized user decides to put most of their expenses on the card pays on time but is spending much more than I have in the past 15 months. So Amex decides to suspend all the cards and now I am up for financial review, I was told the user spent 60 percent more than I do per month and that is what triggered the review. I'm unsure of what to do because the financial review seems so intrusive but thinking back I should have put a limit on my authorized user but I figured if they could afford it was ok. Just sharing my experience I will make a decision by this weekend. I'm pretty disappointed this happened but it's not the end of the world I guess.

Re: Amex Financial review

Anonymous — Fri, 10 Jun 2016 19:14:45 GMT

You set off multiple red alarms doing this and should not be surprised it happened. I have not been through an Amex FR but keep it as a lesson learned going forward.

IMO the only valid reason to add an AU is if it is your DW/DH. Outside of that I would want to make sure I was 100% in control of the cards and thus 100% responsible for any potential outcomes that may be less than desirable.

Re: Amex Financial review

Anonymous — Fri, 10 Jun 2016 19:18:25 GMT

Assuming that the info you provided at app time are more or less backed up by your tax returns, it's just a question for you to evaluate whether the cards are worth the intrusion. If so, comply, otherwise close them.

The AU stuff is a common reason, presumably because it correlates historically with trouble, but you shouldn't have to think to put a spending limit on...

Re: Amex Financial review

ojefferyo — Fri, 10 Jun 2016 19:55:44 GMT

How bad do you want to keep the card? Provide the info they want and if things check out then you'll back to normal. Ignore the request for info and they will close you accounts in about 2-3 weeks.

Re: Amex Financial review

Anonymous — Fri, 10 Jun 2016 20:09:45 GMT

AUs often trigger this with Amex. Thanks for sharing your experience and let us know how it pans out.

Re: Amex Financial review

Anonymous — Fri, 10 Jun 2016 20:30:10 GMT

Thanks the AU is my DD she is responsible and paid off in full for the 2 months that she was on the account she just makes "a lot " and spends a lot. Lesson learned. AMEX has been so fussy/ tempermental since I added the AU other than that everything was fine, I'm not a big spender and as they said my payment history has been impeccable. Amex is my oldest account back dated to 1999.

Re: Amex Financial review

Anonymous — Fri, 10 Jun 2016 23:00:04 GMT

@Anonymous wrote:
Thanks the AU is my DD she is responsible and paid off in full for the 2 months that she was on the account she just makes "a lot " and spends a lot. Lesson learned. AMEX has been so fussy/ tempermental since I added the AU other than that everything was fine, I'm not a big spender and as they said my payment history has been impeccable. Amex is my oldest account back dated to 1999.

Oh wow..... I hope everything works out. Please report back to let us know how it turns out.

Re: Amex Financial review

CreditCuriosity — Fri, 10 Jun 2016 23:08:29 GMT

Yep one of main reasons for Amex FR's is AU spending more than primary card holder..

Guess it just depends on whether you want to keep your relationship with amex whether to submit tax transcripts or not. Best of luck either way.

Re: Amex Financial review

Creditplz — Fri, 10 Jun 2016 23:41:31 GMT

I always use my DW Platinum and it hasn't triggered it yet hopefully it won't anytime soon! Good luck my friend!

Re: Amex Financial review

ojefferyo — Fri, 10 Jun 2016 23:43:03 GMT

@Anonymous wrote:
Thanks the AU is my DD she is responsible and paid off in full for the 2 months that she was on the account she just makes "a lot " and spends a lot. Lesson learned. AMEX has been so fussy/ tempermental since I added the AU other than that everything was fine, I'm not a big spender and as they said my payment history has been impeccable. Amex is my oldest account back dated to 1999.

Why not have her get her own card.

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 01:28:32 GMT

Sorry to hear this. Luckily the AU is an immeduate family member, and if your financials add up to what Amex thought you had, you won't have anything to worry about. After this is all said and done I would look into seeing if your DD can get her own card. Perhaps an Amex CSR can talk to you both and push the App through if her scores are approvable. Good luck and keep us updated!

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 01:35:26 GMT

Originally I gave her the card for emergencies but then decided to try teach her to control her spending and use credit responsibly by having her pif each month. I was hoping this would become a habit by the time she had her own card.
On another note they (amex) are pretty aburpt when you speak to them, you feel like you did something wrong or you tried to deceive them. I didn't feel like a valued customer. It feels like the IRS is auditing you.( I know it's not that serious but that's the impression I got.)

Re: Amex Financial review

Creditplz — Sat, 11 Jun 2016 01:38:28 GMT

No bank can make you feel as bad as the IRS!!! They're equivalent to FPB !

All jokes aside, as long as you didn't Income "Inflate" or have high UTL you should be fine !

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 02:02:53 GMT

I guess I'll parade my ignorance out for everyone to see. I don't understand at all why having an AU outspend the primary would trigger FR. I guess it is because the spending by the AU is inconsistent with the stated income of the primary? I wasn't aware that cardmembers must select AU's only from lower tax brackets? Why is this a "thing"?

If a card issuer has a problem with this behavior, why do they allow cardmembers to select AU's other than spouses?

FWIW, I have certainly consistently outspent DW as an AU on her cards, sometimes with DW spending $0 for months on end. It has never been an issue so I suspect the Amex policy must be more nuanced than that.

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 02:19:24 GMT

This is very true. I went online just to let Amex know hubby was going to put quite a bit on Plat and to make sure autopay will take care of it and I wouldn't have anything to watch. They then proceeded to almost beg me to add another AU as the 175.00 AF will pay for 2. So I just added my daughter and only for when we go on vacation together. She can use it for something that she might want or need to eat/drink. Now I am going to cancel it out. They should not have reps on there telling you to add them! And if we're paying for what is being charged in full every month, why on earth are they freaking out?

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 02:19:54 GMT

I agree but being on this forum has taught me that Amex can be finicky. I really should have known better, maybe it triggered the computer because I really didn't use my Amex that often and when I do I treat it like cash and pay as I spend . When I added my Au's it went up by thousands (dd does not pay as she goes) I can see how that would draw attention becuse the pattern changed drastically. Amex seems to like patterns and consistency. It still doesn't feel good.

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 02:25:13 GMT

@Anonymous wrote:
I agree but being on this forum has taught me that Amex can be finicky. I really should have known better, maybe it triggered the computer because I really didn't use my Amex that often and when I do I treat it like cash and pay as I spend . When I added my Au's it went up by thousands (dd does not pay as she goes) I can see how that would draw attention becuse the pattern changed drastically. Amex seems to like patterns and consistency. It still doesn't feel good.

Yes, issuers certainly like predictable patterns. But re AU spending more being one flag, again I assume that is just from data mining: accounts that eventually went bad showed that pattern much more than those that didn't. With big data, no causal explanation is needed

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 02:29:24 GMT

I can't say that I'm consistent. My daugher is married and has her own credit also. They just don't have enough left over after paying everything to get some things she wants. So I do what I always do, get it for her. We were taking them on vacation and I just assumed this was an easy way for them to go out on their own and get food, drinks, etc. if they needed. I can see their point just a bit. I guess it's best just to keep it between wife & hubby or significant other.

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 02:30:45 GMT

Thats kind of odd my DW is always getting solicited to add AU to her account. It's always something like "earn more points by added AU". We never added anyone except her son but I think it's kind of crappy they would FR when they basically beg to add AU. we literally get emails and snail mails weekly.

Re: Amex Financial review

Anonymous — Sat, 11 Jun 2016 05:42:43 GMT

Thanks for sharing your story OP and providing another data point. Sorry this is happening to you, but I know you'll make the best decision for you. Please come back and let us know the outcome.