topic Re: Really weird week with Amex in Credit Cards

Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 02:21:13 GMT

Some of you may tell me to back off with Amex, and I will . . . with the way things have unfolded.

So, in December I got the Gold Card. In January a Business Platinum. Charged substantially to both of them with rembursable business and family expenses in January ($3.5k on Gold, $9.5k on Plat -- figures my income does NOT support, but I knew I could PIF). Anyhow, I got an email on the Plat telling me I was approaching the limit. So I paid $1k immediately and called a few days after to make an additional $6.5k payment once I got my reimbursement check. That made them happy -- for a moment.

I had already paid $2k off the Gold card before the Plat "approaching" limit situation happened, but Amex was really annoyed anyhow and emailed and called and asked me to pay more when the balance was only ~$1,500 after approving $3.5k of charges. Ok, weird. I paid something like $500 and thought nothing else of it.

Till my cards were suspended last night. Opened the Amex app, saw flags on both cards, saw that the Gold was causing the issue for both. The red banner said "Your charging privileges have been suspended. Please make a payment." So I made another $500 payment, and the suspension was immediately lifted. Breathed a sigh of relief.

Oh, worth mentioning I'd applied for a personal Delta Plat card a week before all this because the 100k SUB. Got declined for recent inquiries, lack of time as an Amex customer, etc.

Well, I was screwing around on the Amex site today at work and thought -- "hey, why don't I try for the business version of the Delta gold card?" -- mind you, I'd been declined for the BBP less than 30 days ago (tried app'ing after the Business Plat). Instantly approved for $3k with 80k SUB. Tried my luck again with the BBP, instantly approved for $2k, 12 month intro APR I have no use for, but my first Amex core revolver!

Well, I'm going to chill now. Charge cards getting PIF'd in the next 2 weeks. Pray for me that Amex doesn't send an FR my way. What a weird week!

Re: Really weird week with Amex

Meanmchine — Thu, 13 Feb 2020 02:37:03 GMT

You are right

.... back off a bit

Re: Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 02:39:13 GMT

Trust me, I'm scared to even charge anything anymore. Not touching any Amex buttons except for "Make Payment" in the next 12 months...

Re: Really weird week with Amex

NimbusIII — Thu, 13 Feb 2020 03:06:41 GMT

@sstromberg wrote:
Some of you may tell me to back off with Amex, and I will . . . with the way things have unfolded.

So, in December I got the Gold Card. In January a Business Platinum. Charged substantially to both of them with rembursable business and family expenses in January ($3.5k on Gold, $9.5k on Plat -- figures my income does NOT support, but I knew I could PIF). Anyhow, I got an email on the Plat telling me I was approaching the limit. So I paid $1k immediately and called a few days after to make an additional $6.5k payment once I got my reimbursement check. That made them happy -- for a moment.

I had already paid $2k off the Gold card before the Plat "approaching" limit situation happened, but Amex was really annoyed anyhow and emailed and called and asked me to pay more when the balance was only ~$1,500 after approving $3.5k of charges. Ok, weird. I paid something like $500 and thought nothing else of it.

Till my cards were suspended last night. Opened the Amex app, saw flags on both cards, saw that the Gold was causing the issue for both. The red banner said "Your charging privileges have been suspended. Please make a payment." So I made another $500 payment, and the suspension was immediately lifted. Breathed a sigh of relief.

Oh, worth mentioning I'd applied for a personal Delta Plat card a week before all this because the 100k SUB. Got declined for recent inquiries, lack of time as an Amex customer, etc.

Well, I was screwing around on the Amex site today at work and thought -- "hey, why don't I try for the business version of the Delta gold card?" -- mind you, I'd been declined for the BBP less than 30 days ago (tried app'ing after the Business Plat). Instantly approved for $3k with 80k SUB. Tried my luck again with the BBP, instantly approved for $2k, 12 month intro APR I have no use for, but my first Amex core revolver!

Well, I'm going to chill now. Charge cards getting PIF'd in the next 2 weeks. Pray for me that Amex doesn't send an FR my way. What a weird week!

Not sure this was in the best interest of reaching your goals for your car loan.

Re: Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 03:13:40 GMT

Recognizing my desire to get a car loan is why I played this game with Amex and not with other issuers.

With Amex, it's a soft pull approval and the business cards don't report to any bureau. Not planning on carrying any balances on these cards anyhow.

The only two things on my CR from Amex are a HP on 11/29 (Gold) and the new account posting last month (Gold). Eveything else is sheltered, so hopefully this does not impact those plans.

Re: Really weird week with Amex

Anonymous — Thu, 13 Feb 2020 03:26:48 GMT

congrats on approvals but you are playing with fire..... it'd be in your best interest to back off for a bit.

Re: Really weird week with Amex

NimbusIII — Thu, 13 Feb 2020 03:30:42 GMT

@sstromberg wrote:
Recognizing my desire to get a car loan is why I played this game with Amex and not with other issuers.

With Amex, it's a soft pull approval and the business cards don't report to any bureau. Not planning on carrying any balances on these cards anyhow.

The only two things on my CR from Amex are a HP on 11/29 (Gold) and the new account posting last month (Gold). Eveything else is sheltered, so hopefully this does not impact those plans.

Just sock drawer them away, and stay the course! good call on not incuring the HP

Re: Really weird week with Amex

FinStar — Thu, 13 Feb 2020 03:44:35 GMT

@sstromberg wrote:
Some of you may tell me to back off with Amex, and I will . . . with the way things have unfolded.

Well, I'm going to chill now. Charge cards getting PIF'd in the next 2 weeks. Pray for me that Amex doesn't send an FR my way. What a weird week!

And, for good reasons, OP. You definitely do not want to establish a bad first impression (algorithm wise) with a lender. As you recognize your next steps to avoid future headaches, I'd lay low as well and for a while.

Today's PSA brought to you by #avoidamexfr

Re: Really weird week with Amex

Brian_Earl_Spilner — Thu, 13 Feb 2020 03:49:26 GMT

@sstromberg wrote:
Trust me, I'm scared to even charge anything anymore. Not touching any Amex buttons except for "Make Payment" in the next 12 months...

Not understanding why you applied for 2 more cards then.

Re: Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 04:08:09 GMT

Wasn't expecting them to approve. Was only playing around before my internal FICO refreshes (it will go down on the next refresh).

Re: Really weird week with Amex

K-in-Boston — Thu, 13 Feb 2020 04:17:53 GMT

@sstromberg wrote:
Wasn't expecting them to approve. Was only playing around before my internal FICO refreshes (it will go down on the next refresh).

That's a recipe for disaster. Good luck.

Re: Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 04:27:24 GMT

How so?

Re: Really weird week with Amex

Brian_Earl_Spilner — Thu, 13 Feb 2020 04:30:40 GMT

They got 👀 on you

Re: Really weird week with Amex

K-in-Boston — Thu, 13 Feb 2020 04:58:15 GMT

@sstromberg wrote:
How so?

Just with all of the apps so close together, multiple approvals, multiple requests for payments this early, and then an expected decline in scores. I was sincere in wishing you luck. I hope it works out, but Amex is certainly going to be very cautious.

Re: Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 05:13:43 GMT

Yeah, I recognize that this is playing with fire, but I appreciate the good wishes. Certainly I will lay low now. How would things look if I PIF (or nearly PIF) the charge cards now?

now that I've gotten where I am with Amex, essentially, how do I lay low long enough to avoid an FR? I have no problem charging to other cards, but is a steep decline in spending another trigger?

Re: Really weird week with Amex

wasCB14 — Thu, 13 Feb 2020 05:27:46 GMT

@sstromberg wrote:
Yeah, I recognize that this is playing with fire, but I appreciate the good wishes. Certainly I will lay low now. How would things look if I PIF (or nearly PIF) the charge cards now?

now that I've gotten where I am with Amex, essentially, how do I lay low long enough to avoid an FR? I have no problem charging to other cards, but is a steep decline in spending another trigger?

There's a lot going on here to put you on Amex's radar. Paying down balances may help, but we can't suggest any course of action that will definitely help you avoid an FR.

Why the particular desire to avoid FR, though?

Do you have to documents like a tax return to prove your stated income? If you've simply been spending a lot for your stated income (with much of your spend reimbursed) then your charging power might be limited for a bit but accounts may quite possibly stay open. If you lack documentation or refuse to provide it, then closure is likely.

True, it doesn't help that you applied for two new cards.

Re: Really weird week with Amex

sstromberg — Thu, 13 Feb 2020 05:44:04 GMT

I have no problem providing a 1040 (2019) that matches the stated income on my Gold application. However, all the other cards were approved under my income for this year (raise and a new job). I can prove via paystubs but will fail on a 1040 basis, since it wouldn't be reflected till I file taxes next year).

I asked Amex if I could put this larger income as my income and the CSR said yes (back in January), specifically "whatever income you feel you have access to."

Not scared about lower limits -- scared about closure/blacklist.

Re: Really weird week with Amex

dogmeat — Thu, 13 Feb 2020 07:06:15 GMT

You are at risk if they ask for tax transcripts, as pay stubs and 1040 will not satisfy that request. "But, the Rep on the phone said" is not the start of any valid counter argument. If I were in your shoes (and congrats, btw), I would pay down everything to zero ASAP, and keep your balances at sub-10% total CL per card for 6 months. Not just statement balance, I'd try very hard to never, even if "will PIF soon", have a balance higher than that. This is just my opinion and not based on any data or inside knowledge.

Re: Really weird week with Amex

CreditInspired — Thu, 13 Feb 2020 07:06:23 GMT

@Brian_Earl_Spilner wrote:
They got 👀 on you

From the very first email--demanding, oops requesting--a payment. I dont want any lender doing that to me. IMO, those are mini alarmss/sirens going off prior to sending the fire trucks out.

Yep, I suggest laying off the apply button and agree, just focus on the make payment button for a while.

Re: Really weird week with Amex

CreditInspired — Thu, 13 Feb 2020 07:12:04 GMT

@sstromberg wrote:
Charged substantially to both of them with rembursable business and family expenses in January ($3.5k on Gold, $9.5k on Plat -- figures my income does NOT support, but I knew I could PIF).

UGH 🥺