topic Re: Amex FR in Credit Cards

Amex FR

Anonymous — Wed, 05 Dec 2007 15:19:51 GMT

So it happened to me. Amex called today and said my account would be suspended for financial review. I have to fax in my three recent pay stubs for income verification. I listed $50K as my annual income, which it is. However $10K of that comes from a cash bartending job and bonuses. Are they going to jump all over me when they see my pay stubs show my income at $40K?

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 19:04:13 GMT

Bump, anyone have any input on this?

Re: Amex FR

LuvsRetro — Wed, 05 Dec 2007 19:08:06 GMT

You don't need all of your income proof to them. Your stubs are more than sufficient. They just want to see that you are currently working.

Most people have many different income situations and they know that. A lot of people have rentals which are unverifiable.

So you are good!!

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 19:23:06 GMT

Thanks for the valuable input, I'll update when they finish the FR!

Re: Amex FR

rred4 — Wed, 05 Dec 2007 20:39:52 GMT

How long have you had your Amex and what do you think you did to cause the FR. Did you make a big purchase or low payment. Tell us something

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 20:44:34 GMT

@rred4 wrote:
How long have you had your Amex and what do you think you did to cause the FR. Did you make a big purchase or low payment. Tell us something

They stated on the phone that it's because it's a new account. I've only had the account for two months. I've purchased about $2000 worth of christmas presents in those two months, and I've only made the minimum payments as I'm waiting to pay it off with my christmas bonus.

Re: Amex FR

rred4 — Wed, 05 Dec 2007 20:45:40 GMT

So you max it out

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 20:56:18 GMT

@rred4 wrote:
So you max it out

Sorry, no I have a $7500 limit on that card.

Re: Amex FR

rred4 — Wed, 05 Dec 2007 21:13:19 GMT

What about your other cards, did you do something with another account that might have triggered it or ask for any CLI

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 21:15:27 GMT

Amex does NOT like min payments

Re: Amex FR

rred4 — Wed, 05 Dec 2007 21:20:05 GMT

OH so its because he made a min payment thanks Brammy I knew you were somewhere watching

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 21:20:46 GMT

I won't say that this is the reason but I believe even in the new T&Cs it warns about min payments.

Re: Amex FR

rred4 — Wed, 05 Dec 2007 21:33:43 GMT

What does it say about min payment

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 21:50:30 GMT

rred4 wrote:
What does it say about min payment

It basically says- sorry I don't have them in front of me- that if you make the minimum payment for too long they will actually increase your minimum payment- word to the wise- they always want above the minimum payment. Can't really give you exact examples, but if let's say the min was 50.00-- I'd pay 75.00 to 100.00.

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 22:20:48 GMT

If I can't PIF I always at least double the minimum payment.

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 23:17:46 GMT

Amen, never pay the min with AMEX.. always pay more

Re: Amex FR

Anonymous — Wed, 05 Dec 2007 23:26:16 GMT

To the OP- has anything else happened w/ you total credit picture- I.e. apping and getting approved for a bunch of cards in a short period of time, making a large BT to a card, making the mins on all your cards...

just wondering because sometimes it is a combination of your total picture...

Re: Amex FR

kclb — Thu, 06 Dec 2007 00:27:41 GMT

Hm. I want to try reach my goal of approx between 5-10k in a year. Hope Amex will love me by then.

Re: Amex FR

fused — Thu, 06 Dec 2007 01:18:43 GMT

Brammy wrote:

Amex does NOT like min payments

Oh yes! Right said Fred!

Re: Amex FR

fused — Thu, 06 Dec 2007 01:20:38 GMT

Amex doesn't like revolvers...and I don't mean handguns. If you are going to revolve a balance keep it low, low.