topic Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ?? in Credit Cards

FR AMEX !!!!! _ WHAT DID I DO WRONG ??

youngman1234 — Tue, 28 Feb 2012 01:36:09 GMT

hello,

Everyone....

I have a Amex gold premier rewards got in Nov 2011. Only been a member for 3 months.

1 st month: Charged - 1100

2nd month: charged - 2800 ( customer service rep told me limit is 2400 but if I pay it off I can charge more, and they are trying to figure out my spending patterns)

3nd month: so far charged - 5000 ( but charged like 1200 then paid it off, then charged 1000 paid it off, and then charged 2500 and paid it off) I asked the rep in the 2nd month if I could make multiple payments and they said sure. I told him great, so I will use my gold as my go to card and that's why I started charging, but paying it off at the end of the week. They are work related expenses, so I get reimbursed.

On Saturday Amex called me and said that they are conducting a Financial Review on my account and the charging is suspended. They asked for 3 months bank statements and a copy of SSI statement. I am permanently disabled so receive SSI disability along with my pay check. I faxed in all the info just waiting to hear back from them ??

What did I do wrong ???

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

Anonymous — Tue, 28 Feb 2012 01:43:20 GMT

Maybe spending didn't make sense in relation to income stated on the application.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

LS2982 — Tue, 28 Feb 2012 01:43:31 GMT

@youngman1234 wrote:
hello,

Everyone....

I have a Amex gold premier rewards got in Nov 2011. Only been a member for 3 months.

1 st month: Charged - 1100
2nd month: charged - 2800 ( customer service rep told me limit is 2400 but if I pay it off I can charge more, and they are trying to figure out my spending patterns)
3nd month: so far charged - 5000 ( but charged like 1200 then paid it off, then charged 1000 paid it off, and then charged 2500 and paid it off) I asked the rep in the 2nd month if I could make multiple payments and they said sure. I told him great, so I will use my gold as my go to card and that's why I started charging, but paying it off at the end of the week. They are work related expenses, so I get reimbursed.

On Saturday Amex called me and said that they are conducting a Financial Review on my account and the charging is suspended. They asked for 3 months bank statements and a copy of SSI statement. I am permanently disabled so receive SSI disability along with my pay check. I faxed in all the info just waiting to hear back from them ??

What did I do wrong ???

Looks to me you overcharged. When someone tells you that you have a $2400 limit thats what it is. They want to make sure you can pay back what you spend.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

jamesdwi — Tue, 28 Feb 2012 01:49:44 GMT

@youngman1234 wrote:
hello,

Everyone....

I have a Amex gold premier rewards got in Nov 2011. Only been a member for 3 months.

1 st month: Charged - 1100
2nd month: charged - 2800 ( customer service rep told me limit is 2400 but if I pay it off I can charge more, and they are trying to figure out my spending patterns)
3nd month: so far charged - 5000 ( but charged like 1200 then paid it off, then charged 1000 paid it off, and then charged 2500 and paid it off) I asked the rep in the 2nd month if I could make multiple payments and they said sure. I told him great, so I will use my gold as my go to card and that's why I started charging, but paying it off at the end of the week. They are work related expenses, so I get reimbursed.
[snip]

What did I do wrong ???

could it be charging 90% of your income in less than 3 months? figuring you make about $12k probably a bit more a year on disability... charging 9800 in 3 months seems like a red flag to me.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

Ron1 — Tue, 28 Feb 2012 01:49:55 GMT

They don't like you kept on charging as soon as you paid off. They didn't know how much you're spending. You shouldn't have spent a lot when the card is new. It's not only Amex. Most banks don't like that. You can racked up a lot of charges and you won't be able to pay.

Ron.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

LS2982 — Tue, 28 Feb 2012 01:49:46 GMT

@Ron1 wrote:
They don't like you kept on charging as soon as you paid off. They didn't know how much you're spending. You shouldn't have spent a lot when the card is new.

Ron.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

youngman1234 — Tue, 28 Feb 2012 01:54:29 GMT

They told me that the limit was 2400, I didnt go over it. I charged every week and kept paying it off at the end of week. So it is wrong to charge a weeks worth of charges and then pay off the following week...

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

youngman1234 — Tue, 28 Feb 2012 01:55:16 GMT

I get a disability check but also work full time and have a pay check as well. My disability is not my only income....

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

CreditScholar — Tue, 28 Feb 2012 01:59:20 GMT

@youngman1234 wrote:
I get a disability check but also work full time and have a pay check as well. My disability is not my only income....

Why is this? If you're working full time, how disabled can you be? As far as I was aware disability was to help those who cant work, not those who are working full time.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

Anonymous — Tue, 28 Feb 2012 01:59:43 GMT

@youngman1234 wrote:
I get a disability check but also work full time and have a pay check as well. My disability is not my only income....

They probably expected spending patterns that reflected personal stuff, not work.

People run work expenses through cards and collect points but you probably should have given it a little more time before charging that heavily.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

youngman1234 — Tue, 28 Feb 2012 02:00:19 GMT

RON1 i have been reading this forum and over 2 years and always look at your comments and try my best to follow them. You really know alot about credit issues. So i dont understand though ur saying it is bad to charge after you paid the bill off ?? Like for example I charged 750 one week until sunday.. waited until my check to clear the following thursday and paid off the balance. Meanwhile charged for the following week charges and then paid that amount off the next week. When you say they dont know how much you 're spending what do that mean ??

Let me give you some of my history plz:

Hello Everyone,

First off just wanted to say thanks to this forum, I have learned alot in the past 2 years....

A little info real quick:

Length of credit history - 1 year 7 months

AAOA: 8 months

I am 22

2010 -

Had a BOA secured card - $10,000 limit ( fell to $3,000 after graduating in 11/2011)

Capital one - $500 ( now $750)

Care Credit - $1000

Lord & Taylor - $1200 ( now $3,000)

Macys & Bloomingdales

2011 - ( In Nov 2011 added 11 new accounts) Now have:

BOA Plantinum Plus - 3000 ( the card that unsecured from a $10,000 limit)

BOA CASH rewards - 2000

BOA Accelerated Amex- 2000

Discover- 1000

Amex SPG

Penfed Promise - 9000

PNC Bank - 1500

Chase Slate - 3000

Wells Fargo Plat - 1500

Affinity CU - 1000

Barclays - 1300

walmart - 700

these are my cards that I have currently....

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

LS2982 — Tue, 28 Feb 2012 02:01:03 GMT

@CreditScholar wrote:
@youngman1234 wrote:
I get a disability check but also work full time and have a pay check as well. My disability is not my only income....
Why is this? If you're working full time, how disabled can you be? As far as I was aware disability was to help those who cant work, not those who are working full time.

I agree with this with no intent to argue about it.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

youngman1234 — Tue, 28 Feb 2012 02:02:15 GMT

I can not see, and I am blind... that doesnt mean that I am not normal and can not work... The SSI disability helps cover the costs of the Blind equipment that I need to keep buying every year since the Commision of the blind no longer helps me... Are you happy now !!!!!

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

Ron1 — Tue, 28 Feb 2012 02:03:56 GMT

@youngman1234 wrote:
They told me that the limit was 2400, I didnt go over it. I charged every week and kept paying it off at the end of week. So it is wrong to charge a weeks worth of charges and then pay off the following week...

They don't like you use the account as soon as you pay it and make multiple payments before the statement comes out. By doing that, you can rack up a lot of charges in a month. It will raise a red flag. One bank did it to me when I did that. By the way, they might set hard limit/closed it after FR.

Good Luck.

Ron.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

mxp114 — Tue, 28 Feb 2012 02:04:51 GMT

I wouldn't post any of my confidential information such as source of income, you really don't own anyone any explanation. As far as what you did wrong? Who knows! AmEx is crazy at times, anything can trigger FR and it is within their sole and absolute discretion. I've heard of people with 10 years of flawless accounts suddenly get FR'd, etc. It's just the nature of dealing with them. Welcome to American Express

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

LS2982 — Tue, 28 Feb 2012 02:04:57 GMT

@youngman1234 wrote:
I can not see, and I am blind... that doesnt mean that I am not normal and can not work... The SSI disability helps cover the costs of the Blind equipment that I need to keep buying every year since the Commision of the blind no longer helps me... Are you happy now !!!!!

I apoligize, not trying to offend anyone but your statement earlier was not clarified at the time. And it seemed like you were taking advantage of the system.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

youngman1234 — Tue, 28 Feb 2012 02:06:42 GMT

This is exactly why I switched all my charging over to the Amex to get the points... I have plently of other cards that I could have used.. But I was using the amex for the points. And for the fact that I read that it doesnt bring your credit score down because you have to pay in full at the end of the month....

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

LS2982 — Tue, 28 Feb 2012 02:08:18 GMT

@youngman1234 wrote:
This is exactly why I switched all my charging over to the Amex to get the points... I have plently of other cards that I could have used.. But I was using the amex for the points. And for the fact that I read that it doesnt bring your credit score down because you have to pay in full at the end of the month....

Have you submitted your documents for the F/R?

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

Anonymous — Tue, 28 Feb 2012 02:10:53 GMT

@youngman1234 wrote:
This is exactly why I switched all my charging over to the Amex to get the points... I have plently of other cards that I could have used.. But I was using the amex for the points. And for the fact that I read that it doesnt bring your credit score down because you have to pay in full at the end of the month....

I just got an account and pay (through the bank) to make triple sure no balance is carried.

Amex has their own formula. There's generally no formula but heavy spending as a new member seems to be a common thread.

Re: FR AMEX !!!!! _ WHAT DID I DO WRONG ??

Ron1 — Tue, 28 Feb 2012 02:11:15 GMT

I didn't spent that much when my Gold Card was new. I spent like $200 for the first couple of months. I knew they didn't trust me enough to charge a lot on my Gold Card. I always keep in mind no pre-set spending doesn't mean unlimited spending. I always pay my bill when the bills come out. I don't do anything abnormal to get their attention.

Ron.