topic Re: Amex FR in Credit Cards

Amex FR

princeromeo — Mon, 10 Sep 2007 20:22:41 GMT

i just reached 30 days on my new card and called for a cli i i went from 2000 limit to 5000 on my blue card i feel a FR coming maybe i should of requested 10,000 hahahahahah

Re: Amex FR

fused — Mon, 10 Sep 2007 20:26:50 GMT

Did you honestly state your HHI?

Re: Amex FR

princeromeo — Mon, 10 Sep 2007 20:29:01 GMT

yea FR time isnt it

Re: Amex FR

fused — Mon, 10 Sep 2007 20:36:25 GMT

Hard to say for sure.

Re: Amex FR

Anonymous — Mon, 10 Sep 2007 22:17:17 GMT

It's coming no matter what you do. Sooner or later every cardholder will be audited for tax records. I would print out, sign a form and put it in a stamped envelope ready to be mailed.

Message Edited by montana on 09-10-2007 03:17 PM

Re: Amex FR

fused — Mon, 10 Sep 2007 22:30:29 GMT

montana wrote:

It's coming no matter what you do. Sooner or later every cardholder will be audited for tax records. I would print out, sign a form and put it in a stamped envelope ready to be mailed.

Message Edited by montana on 09-10-2007 03:17 PM

How did you arrive to this conclusion?

Re: Amex FR

Anonymous — Mon, 10 Sep 2007 22:35:33 GMT

AMEX is going to review all of it's clients. it's in the news.

I hope that no VISA or MC is going to follow.

lol

Message Edited by montana on 09-10-2007 03:35 PM

Re: Amex FR

Anonymous — Mon, 10 Sep 2007 23:57:43 GMT

Just make sure you report your annual HH income accurately and don't fudge any of the other information and everything will be fine.

I know some think it is a hassle-but I personally like the fact that the company is looking out for itself - this way I know their business is secure.

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 00:08:27 GMT

basiaclly their rule is simple:

You can lie on your application about anything, BUT if you paid income tax last year, then you're fine as long as the total CL is not greater your 1.5 years of income. However, income under $7,500 does not need to be reported. So students or uneployed have to put in application: student and not worry about FR. That is all folks.

Re: Amex FR

fused — Tue, 11 Sep 2007 00:43:46 GMT

montana wrote:

AMEX is going to review all of it's clients. it's in the news.

I hope that no VISA or MC is going to follow.

lol

Message Edited by montana on 09-10-2007 03:35 PM

I'm not buying this. The more people that have to go through a FR, the more customers Amex stands to lose. CCCs are practically tripping over each other for new customers and hate losing existing card holders.

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 00:47:50 GMT

fused...lol.

It doesn't matter what you or I buy or not. It's the way it is.

AMEX doesn't care to loose some customers.

I just hope VISA and MC doesn't follow.

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 00:48:42 GMT

fused111 wrote:

montana wrote:

AMEX is going to review all of it's clients. it's in the news.

I hope that no VISA or MC is going to follow.

lol

Message Edited by montana on 09-10-2007 03:35 PM

I'm not buying this. The more people that have to go through a FR, the more customers Amex stands to lose. CCCs are practically tripping over each other for new customers and hate losing existing card holders.

In the past, Amex's F/Rs were initiated by triggers. I have also heard that they plan to F/R all customers. Maybe in response to the subprime mess who knows. It may also be due to alarm bells going of on their end.

I have heard of more F/Rs in the past 6 mos than I ever heard of before. Maybe just because people get notified and find boards for more info. Oh well, we shall see.

Re: Amex FR

fused — Tue, 11 Sep 2007 00:56:47 GMT

I don't believe everything I read in the news or watch on the tube. I think it's premature to make a blanket statement that Amex will make EVERY card holder undergo a FR. This is pure speculation. I know a lot of family, friends and coworkers who have Amex CCs and not one them has been asked to do a FR. Some of them have been card holders for 15+ years while others are newer card members. I'm with Brammy on the triggers issue...I really believe certain actions are likely to get your accounts flagged.

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 02:16:21 GMT

I went to B school with current amex executives (2). I spoke to them about the FR on the phone. It is from the source. They will review every cardholder. Those with centurion cards are reviewed before the cards are issued. It don't matter what your name is: Lohan or Welch. You sign over tax records or have your priveleges suspended. They will get to every client. They don't care of bad publicity. It is however not clear why all of the sudden they started to do everyone. My sources say it is because 99.99% comply so AMEX thinks it's the right thing to do. i hope we can all raise our voices to demand AMEX financial records....but they are public already..... oooops.

Hope it helps you guys.

P.S. I never believe news form this country. I get my news from European sources.

Message Edited by montana on 09-10-2007 07:16 PM

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 02:27:31 GMT

montana wrote:

I went to B school with current amex executives (2). I spoke to them about the FR on the phone. It is from the source. They will review every cardholder. Those with centurion cards are reviewed before the cards are issued. It don't matter what your name is: Lohan or Welch. You sign over tax records or have your priveleges suspended. They will get to every client. They don't care of bad publicity. It is however not clear why all of the sudden they started to do everyone. My sources say it is because 99.99% comply so AMEX thinks it's the right thing to do. i hope we can all raise our voices to demand AMEX financial records....but they are public already..... oooops.

Hope it helps you guys.

P.S. I never believe news form this country. I get my news from European sources.

Message Edited by montana on 09-10-2007 07:16 PM

Okay montana don't be a flag basher!! I actually came here to reiterate what you said though my sources are not as reliable. Just info from Curtis Arnold and the crisis of the subprime lending market.

Be Nice Montana

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 02:34:30 GMT

I came here to let people know what's going on. No need for you to be arrogant, brammy.

be nice. it pays.

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 02:38:33 GMT

montana wrote:

I came here to let people know what's going on. No need for you to be arrogant, brammy.

be nice. it pays.

You know montana, I really think that I AM being nice. Your posts can get a little rough when there's no need for it. I really don't feel that MY arrogance is the problem. You should really reread things before you make such statements. Or maybe reread the statements you make to get such responses.

Re: Amex FR

notmyname — Tue, 11 Sep 2007 04:15:24 GMT

Fused , you are correct. Everyone is not a credit addict. The triggers don't come from the vast majority of Amex customers. They don't get new accounts and immediately expect CL'S that normally come with years of proven use. Credit that is earned and used wisely does not cause blanket FR. I read business journals daily and I have only read anything about this in one other place. It is an urban myth from the internet activity such as the threads here. Wouldn't we expect a lot of this sort of activity here about AMEX since this is a place for troubled credit. I think the FR activity has a higher profile because AMEX has expanded it's CREDIT CARD products through a broader range of the market. The core business; the CHARGE CARD business is stable and less attainable and of course has levels one passes through with time and proven use. That in itself tells AMEX what the customers circumstances are. If you have been paying three, four, six thousand or more a month into various AMEX accounts for ten or fifteen years you really think they need to come calling. They know who their customers are and that includes the ones they do need to check into from time to time due to their own actions . I read here everyday about actions taken that I never have and never would take with my finances.

There are a lot of smart people here and there are some that need to read more. I learn something everytime I log on , but the guy with the " amex thing " on this thread has nothing to say that is based in fact or good common sense and I cannot fathom his need or motives to make such statements .

Enough of me,

Thanks for all the good info , you'll never know how much and how many you've all helped,

Message Edited by notmyname on 09-10-2007 11:15 PM

Re: Amex FR

Anonymous — Tue, 11 Sep 2007 12:03:53 GMT

Wow, the posts are getting hot!

To be honest I could care less if they FR every account holder they have. I have 5 of their cards and love my AMEX. I have been through a FR and while it was a pain in the butt. I understand why it's done.

I would never give you $50k without knowing you can pay for it. I have purchased cars for less money and had to turn over my life history to show I could pay for it.

I work for a company and we only issue AMEX corp. cards. I have heard of folks with the black card getting FR before they are issued. I have heard of folks that have had the AMEX card before they started issuing credit cards. They still went through a FR.

I think AMEX uses triggers. That is my personal opinion because of the priors that happened to me before my FR. I passed and had no cards taken away or CLs reduced. In fact I now carry the Gold Rewards Plus card.

If you pay AMEX more than is due. Don't ask for too my CLs and charge a lot of stuff, you should be fine.

Re: Amex FR

SpecFile — Tue, 11 Sep 2007 14:34:39 GMT

That's where I'm confused RC. What if you charge alot of stuff to get cash back? I don't ask for CLIs at all. I don't need them but will allow them to happen if the CCC increases it on their own.