topic Re: What is American Express Financial Review??? in Credit Cards

What is American Express Financial Review???

timmis1127 — Tue, 04 Mar 2008 21:35:02 GMT

i had an american express a couple months ago and out of the blue they called me and told me i was under financial review and they wanted to see my taxes.... what do i do ????

Re: What is American Express Financial Review???

orl2185 — Tue, 04 Mar 2008 21:37:31 GMT

timmis1127 wrote:
i had an american express a couple months ago and out of the blue they called me and told me i was under financial review and they wanted to see my taxes.... what do i do ????

Send them their card back and tell to kiss your behind.... that is if I was you.

Amazing their procedures suck bigtime to say the least.

Re: What is American Express Financial Review???

Anonymous — Tue, 04 Mar 2008 21:46:10 GMT

WTH!!!!! I am not sending my tax returns to anyone..if this is what I have to go through after I get my Delta AMEX they can keep it...It's not worth all that headache...What triggers a FR? Now I'm curious..

Re: What is American Express Financial Review???

timmis1127 — Tue, 04 Mar 2008 23:28:00 GMT

well i called and asked for a credit limit increase and about one hour later they called my employer asking him all these questions and then they called me asking me for my W2

Re: What is American Express Financial Review???

haulingthescoreup — Tue, 04 Mar 2008 23:54:10 GMT

Hi, timmis, welcome to the forums, and I'm sorry it was under these circumstances. There are a lot of theories about WTH; mine is that American Express expanded far beyond its traditional market, and they've developed a monumental case of cold feet.

Many people grit their teeth and go through the FR; others mail back the shredded remains of their card. Here's a thread from one member who decided to go through it. And btw, the level of bitterness about FR has skyrocketed here in the last several weeks.

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=51594

Good luck to you, whichever way you decide to go.

Re: What is American Express Financial Review???

MidnightVoice — Wed, 05 Mar 2008 00:03:23 GMT

GETNUMBERSUP wrote:
WTH!!!!! I am not sending my tax returns to anyone..

I am sure the IRS may have something to say about that

Re: What is American Express Financial Review???

Anonymous — Wed, 05 Mar 2008 00:31:54 GMT

It's really not so bad. You sign a form. It took 6 days.

The thing that bothers me is that it's like a policeman asking to search your car when you get pulled over for speeding. I would never say yes to a policeman, and I feel this is no different. However, coming from subprime land for so long, I was happy to allow it this time to keep my 9k limit. I can't go back to subprime land. I refuse.

Re: What is American Express Financial Review???

MidnightVoice — Wed, 05 Mar 2008 00:35:21 GMT

FretlessMayhem wrote:
It's really not so bad. You sign a form. It took 6 days.

The thing that bothers me is that it's like a policeman asking to search your car when you get pulled over for speeding. I would never say yes to a policeman, and I feel this is no different. However, coming from subprime land for so long, I was happy to allow it this time to keep my 9k limit. I can't go back to subprime land. I refuse.

They ask for things like this when gets a mortgage.

Re: What is American Express Financial Review???

haulingthescoreup — Wed, 05 Mar 2008 00:36:51 GMT

@MidnightVoice wrote:

@Anonymous wrote:
It's really not so bad. You sign a form. It took 6 days.

The thing that bothers me is that it's like a policeman asking to search your car when you get pulled over for speeding. I would never say yes to a policeman, and I feel this is no different. However, coming from subprime land for so long, I was happy to allow it this time to keep my 9k limit. I can't go back to subprime land. I refuse.
They ask for things like this when gets a mortgage.

But they ask when you are applying, not when you've moved into the house, painted the dining room, unpacked half the boxes, and sent your new address to everyone.

Re: What is American Express Financial Review???

MidnightVoice — Wed, 05 Mar 2008 00:41:07 GMT

@haulingthescoreup wrote:

@MidnightVoice wrote:

@Anonymous wrote:
It's really not so bad. You sign a form. It took 6 days.

The thing that bothers me is that it's like a policeman asking to search your car when you get pulled over for speeding. I would never say yes to a policeman, and I feel this is no different. However, coming from subprime land for so long, I was happy to allow it this time to keep my 9k limit. I can't go back to subprime land. I refuse.
They ask for things like this when gets a mortgage.

But they ask when you are applying, not when you've moved into the house, painted the dining room, unpacked half the boxes, and sent your new address to everyone.

They might if you ask for a refi

Re: What is American Express Financial Review???

timmis1127 — Wed, 05 Mar 2008 01:41:14 GMT

How about if all my taxes are not exactly in line and i fibbed about how much i told them i make for my annual income??

Re: What is American Express Financial Review???

haulingthescoreup — Wed, 05 Mar 2008 01:43:22 GMT

@timmis1127 wrote:

How about if all my taxes are not exactly in line and i fibbed about how much i told them i make for my annual income??

Ah. Well, in that case, it might be time for that phrase about "the chickens coming home to roost."

Re: What is American Express Financial Review???

TigerCat — Wed, 05 Mar 2008 02:02:29 GMT

In general, I think AMEX is a very paranoid company. A few years ago, I rented a car in Europe (with an American company no less) and when I went to pick it up after my flight, my card was DECLINED! I then had to find a pay phone and call customer service. How embarrassing. The rep told me that although my account was current, the card was declined because it was detecting unusual activity. I mean come on, am I the only American to ever use their stupid card abroad? Anyway, I returned to the counter just in time to discover that my nice Audi rental had been given to another customer and all they had for me was a Ford stationwagon. Thanks AMEX. I say don't send them anything but their cards shredded into a thousand little pieces.

Re: What is American Express Financial Review???

MidnightVoice — Wed, 05 Mar 2008 02:02:33 GMT

timmis1127 wrote:
How about if all my taxes are not exactly in line and i fibbed about how much i told them i make for my annual income??

Ouch. Amex will not be happy

Re: What is American Express Financial Review???

Anonymous — Wed, 05 Mar 2008 02:18:23 GMT

TigerCat wrote:
In general, I think AMEX is a very paranoid company. A few years ago, I rented a car in Europe (with an American company no less) and when I went to pick it up after my flight, my card was DECLINED! I then had to find a pay phone and call customer service. How embarrassing. The rep told me that although my account was current, the card was declined because it was detecting unusual activity. I mean come on, am I the only American to ever use their stupid card abroad? Anyway, I returned to the counter just in time to discover that my nice Audi rental had been given to another customer and all they had for me was a Ford stationwagon. Thanks AMEX. I say don't send them anything but their cards shredded into a thousand little pieces.

that's why i almost always call my issuers and say i will be in x on tuesday and y on thursday. not to mention since amex is a big travel and leisure issuer, some have pondered if international use puts you in thier good graces.

we'll see if all those customer advises washington tuesday, london, uk this weekend, philly last weekend account notes staive off or at least soften the fr/aa scrutiny.

besides the csr's are always super nice ask how much i think i may put on the card and do a test charge for that amount and say your all set.

Re: What is American Express Financial Review???

MidnightVoice — Wed, 05 Mar 2008 02:23:14 GMT

dnm45227 wrote:

that's why i almost always call my issuers and say i will be in x on tuesday and y on thursday. not to mention since amex is a big travel and leisure issuer, some have pondered if international use puts you in thier good graces.

Just did the same. And warned them the AU card might also be used

Free call, fast response.

Re: What is American Express Financial Review???

Anonymous — Wed, 05 Mar 2008 02:27:15 GMT

MidnightVoice wrote:

dnm45227 wrote:

that's why i almost always call my issuers and say i will be in x on tuesday and y on thursday. not to mention since amex is a big travel and leisure issuer, some have pondered if international use puts you in thier good graces.
Just did the same. And warned them the AU card might also be used

Free call, fast response.

right sometimes dw deserts, er travels w/o me and i call and have them flag her au card as well.

Re: What is American Express Financial Review???

timmis1127 — Wed, 05 Mar 2008 03:25:02 GMT

you guys are starting to get off topic i need some advice on what i should do please???

Re: What is American Express Financial Review???

haulingthescoreup — Wed, 05 Mar 2008 03:28:26 GMT

@timmis1127 wrote:

you guys are starting to get off topic i need some advice on what i should do please???

I don't know if there is anything really that you can do, if you "misrepresented" your situation on your application. Maybe someone else has been in your position and will find this thread, but my guess is that the best thing to do now is to pay off your balance if you can, so that if the F/R doesn't go well, you can request that the card show as "closed by consumer." It doesn't affect your scores if it shows "closed by guarantor" or whatever, but it doesn't look as good to other lenders reviewing your reports in the future.

I'm sorry that I don't have anything else for you.

Re: What is American Express Financial Review???

Anonymous — Wed, 05 Mar 2008 03:30:44 GMT

haulingthescoreup wrote:

I don't know if there is anything really that you can do, if you "misrepresented" your situation on your application. Maybe someone else has been in your position and will find this thread, but my guess is that the best thing to do now is to pay off your balance if you can, so that if the F/R doesn't go well, you can request that the card show as "closed by consumer." It doesn't affect your scores if it shows "closed by guarantor" or whatever, but it doesn't look as good to other lenders reviewing your reports in the future.

I'm sorry that I don't have anything else for you.

I think once you're at the point where F/R doesn't go well, "closed by consumer" is no longer an option. You can only get that designation if you close it without submitting your docs, basically by refusing the F/R.