topic AMEX Financial Review in Credit Cards

AMEX Financial Review

DapprD — Thu, 05 Mar 2020 22:55:03 GMT

Does anyone have any DP's on how long the "Spending Limit" stays on an account after a Financial Review.

I've had my Amex GOLD for almost 2 years now, went through a Financial Review 2 months after I got the card and have had the "Spending Limit" restriction on my account since.

Also, I haven't been able to get approved for another Amex since the FR, have always paid my account on time since it's a charge card and even spend over the "Spending Limit" mostly each month since it's my daily driver by paying it down 15 days into the month.

Any words of encouragement?

Re: AMEX Financial Review

Remedios — Thu, 05 Mar 2020 23:03:14 GMT

No clue, but I'd be surprised if @K-in-Boston isn't vigorously typing already

Re: AMEX Financial Review

K-in-Boston — Thu, 05 Mar 2020 23:14:11 GMT

It's very much a YMMV situation. Some have hard limits removed after a matter of months, some after years or never at all. What was the underlying cause of the FR and have those factors since been addressed? Were any payments made after the due date?

Edit: Also, is there negative information, judgments, etc. on your Experian or LexisNexis reports? Amex uses the EX 08 score to manage your account, but definitely does look at LN as well.

Re: AMEX Financial Review

Brian_Earl_Spilner — Thu, 05 Mar 2020 23:13:34 GMT

💀

Re: AMEX Financial Review

CreditCuriosity — Thu, 05 Mar 2020 23:25:24 GMT

As mentioned usually a year or so until whatever their concerns are well are resolved. No one has an answer for this persay just general guidelines others have given us dp's about having their NPSL restored vs. a set limit. Something caused them to do a FR on you whether spikes in utilization or info not adding up, etc. all those are just guesses.

Re: AMEX Financial Review

DapprD — Sun, 08 Mar 2020 22:12:29 GMT

@K-in-Boston wrote:
It's very much a YMMV situation. Some have hard limits removed after a matter of months, some after years or never at all.

What was the underlying cause of the FR and have those factors since been addressed?
I sent money to my mom using paypal .. Haven't connected the card to paypal since !

Were any payments made after the due date?
NONE

Edit: Also, is there negative information, judgments, etc. on your Experian or LexisNexis reports?
NONE

Re: AMEX Financial Review

coldfusion — Sun, 08 Mar 2020 22:46:16 GMT

@DapprD wrote:
@K-in-Boston wrote:
It's very much a YMMV situation. Some have hard limits removed after a matter of months, some after years or never at all.

What was the underlying cause of the FR and have those factors since been addressed?
I sent money to my mom using paypal .. Haven't connected the card to paypal since !

Oooh. Using AMEX + Paypal to send money or make purchases from a family member is a big no-no nowadays with AMEX. Too many people were exploiting it as a means to churn sign-up bonuses.

Re: AMEX Financial Review

Anonymous — Fri, 13 Mar 2020 08:31:38 GMT

I think mine lasted for 3 months, but at that point I applied for a new card with amex (2 prior with spending limits) with the new one (3 total) I closed one of the spending limit one and kept them for another 2 months, applied for another with a higher limit and closed the last spending limited one. So i just got new ones and got rid of the spending limit ones and havent had any issues since. I was putting over 100K a year on them between my self and family members - now I spend around 45-75K a year.

Re: AMEX Financial Review

adelphi_sky — Fri, 13 Mar 2020 13:31:44 GMT

@coldfusion wrote:
@DapprD wrote:
@K-in-Boston wrote:
It's very much a YMMV situation. Some have hard limits removed after a matter of months, some after years or never at all.

What was the underlying cause of the FR and have those factors since been addressed?
I sent money to my mom using paypal .. Haven't connected the card to paypal since !

Oooh. Using AMEX + Paypal to send money or make purchases from a family member is a big no-no nowadays with AMEX. Too many people were exploiting it as a means to churn sign-up bonuses.

That is a bit shortsighted on AMEX's part if it is true. If other cards are fine with Paypal, why does AMEX's panties get in a bunch over it? Paypal is a worldwide payment system that includes VISA, MASTERCARD, and AMEX partnerships. Or else Paypal would say AMEX doesn't work on our platform. AMEX is either part of the 21st century or it isn't. If they don't want people finding creative legal ways to earn rewards in their rewards program, DON'T OFFER THE PROGRAM. Get out of the pool. Take up your toys and go home. Don't put people through financial reviews as if they did something illegal. THe more I hear about what AMEX does, the moreI don't like them.

Can you tell?

Re: AMEX Financial Review

K-in-Boston — Fri, 13 Mar 2020 16:20:33 GMT

@adelphi_sky wrote:
@coldfusion wrote:
@DapprD wrote:
@K-in-Boston wrote:
It's very much a YMMV situation. Some have hard limits removed after a matter of months, some after years or never at all.

What was the underlying cause of the FR and have those factors since been addressed?
I sent money to my mom using paypal .. Haven't connected the card to paypal since !

Oooh. Using AMEX + Paypal to send money or make purchases from a family member is a big no-no nowadays with AMEX. Too many people were exploiting it as a means to churn sign-up bonuses.
That is a bit shortsighted on AMEX's part if it is true. If other cards are fine with Paypal, why does AMEX's panties get in a bunch over it? Paypal is a worldwide payment system that includes VISA, MASTERCARD, and AMEX partnerships. Or else Paypal would say AMEX doesn't work on our platform. AMEX is either part of the 21st century or it isn't. If they don't want people finding creative legal ways to earn rewards in their rewards program, DON'T OFFER THE PROGRAM. Get out of the pool. Take up your toys and go home. Don't put people through financial reviews as if they did something illegal. THe more I hear about what AMEX does, the moreI don't like them.

Can you tell?

There are no issues at all with using PayPal with American Express. I have sent tens of thousands of dollars using Amex over the past 20 years. The issues as stated in the post you quoted are when you are sending money to yourself or family members to skirt cash advance policies.

Re: AMEX Financial Review

Anonymous — Sat, 11 Apr 2020 05:19:53 GMT

I got a mini FR from sending PayPal money to a family member once. $1,500 to be exact. It posted as PayPal *Family member name*. Amex said they linked that to a person I'm related to, which took 3 days after it posted to my account. They verbatim said "American Express doesnt want people experiencing financial difficulties using their cards." I'm assuming she meant to follow up with cash advances but alas nothing. Lol I had to send over tax documents and bank statements, not the IRS form though thankfully.

Re: AMEX Financial Review

Anonymous — Mon, 13 Apr 2020 02:40:53 GMT

Good to know! I wonder if the same thing would happen using Square?

Re: AMEX Financial Review

manateemark — Mon, 13 Apr 2020 15:57:12 GMT

I have heard of people having their accounts shut down as a result of using Square on their personal cards. Not sure if this applies to AMEX in particular, but I did look into this at one point before I even knew what MS was as a way to meet signup bonuses.

Re: AMEX Financial Review

Anonymous — Mon, 13 Apr 2020 16:58:31 GMT

Paypal and amex don't always mix. I bought a phone online and used paypal and amex put me through a fr. Had to agree to them getting my last two years tax returns 4506t form.

I won't use anything PayPal with amex after that

I passed the review but it was a hassle having my cards shut off temporarily