topic Re: AMEX Financial Review in Credit Cards

AMEX Financial Review

scorepower — Wed, 17 Oct 2007 04:14:25 GMT

Hello, Currently i have a blue AMEX with a $25,000 CL. I got the $25K limit last month. Tonight i asked for an increase for $50K and got a note to fax over some tax documents to AMEX within 30 days. Couple of questions i had: 1) What happens if i don't do anything? 2) I just got a promotion and listed my new income which will reflect my new salary at the end of the month. Will this be considered falsifying? 3) Since CLI asks for HHI, will they view both mine and my wifes income? I have read the AMEX financial review thread and got some good information. I also wanted to call AMEX and tell them to disregard the CLI but wondering if they would still do it. I did not lie on the application but stated our new HHI. I'm not worried since i have all the documentation to back it up. Any advise would be appreciated. Thanks

Re: AMEX Financial Review

fused — Wed, 17 Oct 2007 04:23:16 GMT

Did they freeze your account? It does not appear you falsified anything. As long as you were honest when asked about your HHI with your original app and during CLI requests, you should be alright but keep in mind even if you pass it's possible they might CLD (credit limit decrease) you based on the information you furnish.

PS: If you don't comply they will close your account.

Message Edited by fused on 10-16-2007 06:23 PM

Re: AMEX Financial Review

scorepower — Wed, 17 Oct 2007 04:32:40 GMT

They didn't freeze the account. I think i'll call them to make sure. I didn't know they will close your account if you didn't comply. Thanks for the info.

Re: AMEX Financial Review

fused — Wed, 17 Oct 2007 04:35:28 GMT

scorepower wrote:
They didn't freeze the account. I think i'll call them to make sure. I didn't know they will close your account if you didn't comply. Thanks for the info.

If you're signed-up online, go check there.

Re: AMEX Financial Review

scorepower — Wed, 17 Oct 2007 04:40:29 GMT

i just checked and it's all good. Account is not frozen. All the information is there. If they were doing a FR, would the account automaticlly be red flagged?

Re: AMEX Financial Review

fused — Wed, 17 Oct 2007 04:45:20 GMT

scorepower wrote:
i just checked and it's all good. Account is not frozen. All the information is there. If they were doing a FR, would the account automaticlly be red flagged?

This is strange! I have not heard of a single case where Amex requested a FR and did not freeze your accounts. Maybe the site has not updated, I would call them. The FR dep't is closed but a CSR could tell you if the account has been freezed.

Re: AMEX Financial Review

scorepower — Wed, 17 Oct 2007 04:46:29 GMT

I'm calling right now. Will keep you updated.

Re: AMEX Financial Review

scorepower — Wed, 17 Oct 2007 04:58:49 GMT

I just spoke to the CSR and she said the account is fine and that the transaction was cancelled out. She did see i tried to request a CLI and it requried some additional information. She gave me the number for he particular department that handles CLI's. I'll call them tomorrow to make sure everything is fine and that they don't need all the tax information.

Re: AMEX Financial Review

sl — Wed, 17 Oct 2007 14:28:44 GMT

I just got back in the good graces of AMEX and listed my salary as of today, which HHI has increased about 15% since our 2006 taxes. I called and asked them about the FR and explained that my income has increased since my taxes and they said if I got a FR I would have to submit my last pay stub to prove the increase in salary. So that should be easy. I also listed both DH and mine salary. For some reason when I applied, I did not get offered t he Oasis Program I got the Blue Card with dividends. MY CL is $3400 and I did a balance transfer from my Dillard's which was at 24%. I won't ask for a CLI for 6 months. I want them to know I am serious about paying this balance down first.

Re: AMEX Financial Review

scorepower — Wed, 17 Oct 2007 15:50:27 GMT

Just to update on my situation. I called AMEX today and they said we were approved for the credit line increase of $50,000 but needed some additional documentation. I told them to cancel the request since i didn't need it right now. I just got greedy and wanted to see how high i could go. I'll just stick to the $25K limit. Thanks for everyones help.

Re: AMEX Financial Review

jsmith12345 — Wed, 12 Mar 2008 22:24:11 GMT

Sorry to revive this old thread, but the exact same thing happened to me. Whenever you go into the $50k or higher range with AMEX they want to see proof of income. If you can prove it, they'll gladly give you the increase.

Re: AMEX Financial Review

haulingthescoreup — Wed, 12 Mar 2008 22:56:53 GMT

@jsmith12345 wrote:

Sorry to revive this old thread, but the exact same thing happened to me. Whenever you go into the $50k or higher range with AMEX they want to see proof of income. If you can prove it, they'll gladly give you the increase.

I'm delighted that they require proof of income.

One of the disasters of the sub-prime mortgage mess was the granting of mortgages to people who wouldn't give proof of income. They had to pay higher rates, and surprise, surprise, many of them couldn't handle it. And yes, I do understand that self-employed people have wildly variable incomes, and they don't have paystubs, but loaning someone a quarter million bucks and up just because they say they can handle it is nuts.

Re: AMEX Financial Review

MidnightVoice — Wed, 12 Mar 2008 23:49:49 GMT

haulingthescoreup wrote:
I'm delighted that they require proof of income.

One of the disasters of the sub-prime mortgage mess was the granting of mortgages to people who wouldn't give proof of income. They had to pay higher rates, and surprise, surprise, many of them couldn't handle it. And yes, I do understand that self-employed people have wildly variable incomes, and they don't have paystubs, but loaning someone a quarter million bucks and up just because they say they can handle it is nuts.

Surely you are not suggesting that people should be fiscally responsible and live within their means?

Isn't that Unamerican?

Re: AMEX Financial Review

fused — Thu, 13 Mar 2008 00:51:10 GMT

Even if you want a CL of 25,001K AmEx asks for your papers.

Re: AMEX Financial Review

Anonymous — Tue, 18 Mar 2008 07:04:11 GMT

What 's up haulings? How have you been?

I agree 100%!! If you get above $25K we need to see some paperwork. You can't finance a car without showing proof income. Why is different for a credit card?

Folks talk about bail out for the housing market, but where do they think the money comes from for the bailout.... taxpayers.

I will stick to my $25K credit limits with AMEX and be happy with them. I have no plans to be greedy!

Re: AMEX Financial Review

MidnightVoice — Tue, 18 Mar 2008 13:46:16 GMT

ragcajun wrote:

You can't finance a car without showing proof income.

I did. But it was my 5th car from the same dealer

Re: AMEX Financial Review

fused — Tue, 18 Mar 2008 17:09:10 GMT

MidnightVoice wrote:

ragcajun wrote:

You can't finance a car without showing proof income.

I did. But it was my 5th car from the same dealer

Dang you is old dude.....

Re: AMEX Financial Review

MidnightVoice — Tue, 18 Mar 2008 17:32:25 GMT

fused wrote:

MidnightVoice wrote:

ragcajun wrote:

You can't finance a car without showing proof income.
I did. But it was my 5th car from the same dealer

Dang you is old dude.....

Women in the family

Re: AMEX Financial Review

Anonymous — Tue, 18 Mar 2008 18:03:55 GMT

@MidnightVoice wrote:

@fused wrote:

@MidnightVoice wrote:

@Anonymous wrote:
You can't finance a car without showing proof income.
I did. But it was my 5th car from the same dealer

Dang you is old dude.....

Women in the family

Now would be a good time for me to interject something witty, funny, and tacky but at the moment I can't think of anything so I'll just say....Pffftttttt!