Amex denied after connecting bank?

[rhopkins1999]

Hello all I just wanted some input on this situation! 

So I have had my AMEX platinum for about 6 months. Today I applied for the Hilton Surpass and it asked me to connect my bank account for verification. 

Once I did that it came back and said denied, one of the reasons was "account balance too low " and then something about my estimated income was too low. When I went back into my bank and looked into the deposits it was right on par with the projection I gave. Nevertheless I assumed AMEX just doesn't want to extend anymore credit. 

My question is, will this affect my current card or is this just them not wanting to extend anymore credit to me? Should I be worried about it my platinum card? 

Thank you for your input!

[cashorcharge]

Typically, no...

Many people are declined for both new accounts and CLI's both with or without a linked bank account and I haven't seen or heard of cardholders having adverse action taken as long as their current account is in good standing

[dfwxjer]

If Amex is saying your stated income doesn't match your deposit account then you may be on the radar for a FR. For Amex I always understate my income to ensure I'm well within the safe zone should they decide to FR me. 

[FICOdawg]

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@rhopkins1999 wrote:

Hello all I just wanted some input on this situation! 

So I have had my AMEX platinum for about 6 months. Today I applied for the Hilton Surpass and it asked me to connect my bank account for verification. 

Once I did that it came back and said denied, one of the reasons was "account balance too low " and then something about my estimated income was too low. When I went back into my bank and looked into the deposits it was right on par with the projection I gave. Nevertheless I assumed AMEX just doesn't want to extend anymore credit. 

My question is, will this affect my current card or is this just them not wanting to extend anymore credit to me? Should I be worried about it my platinum card? 

Thank you for your input!

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How did they to connect to your bank?    I assume you log in and it gives them access to your bank data or something else?      

[MisterFico]

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@dfwxjer wrote:

If Amex is saying your stated income doesn't match your deposit account then you may be on the radar for a FR. For Amex I always understate my income to ensure I'm well within the safe zone should they decide to FR me. 

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I assume from your overall post that FR stands for financial review, but to increase my knowledge please could you a) confirm if that's correct, and b) if they make contact wanting an FR, is it in the form of a demand (rather than a request) to be given access to your checking account with another institution, presumably with a refusal to comply resulting in full termination as a customer however many card accounts open with them?

[dfwxjer]

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@MisterFico wrote:

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@dfwxjer wrote:

If Amex is saying your stated income doesn't match your deposit account then you may be on the radar for a FR. For Amex I always understate my income to ensure I'm well within the safe zone should they decide to FR me. 

---

I assume from your overall post that FR stands for financial review, but to increase my knowledge please could you a) confirm if that's correct, and b) if they make contact wanting an FR, is it in the form of a demand (rather than a request) to be given access to your checking account with another institution, presumably with a refusal to comply resulting in full termination as a customer however many card accounts open with them?

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Yes, FR is Financial Review, and it is a demand where they ask for access to your tax statements and/or bank account. Unlike a normal request for a credit limit increase where one can turn them down and resume current use of their account, a FR is not optional if they go that route. Once a FR has been initiated they lock all Amex accounts until it's completed. 

[MisterFico]

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@dfwxjer wrote:

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@MisterFico wrote:

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@dfwxjer wrote:

If Amex is saying your stated income doesn't match your deposit account then you may be on the radar for a FR. For Amex I always understate my income to ensure I'm well within the safe zone should they decide to FR me. 

---

I assume from your overall post that FR stands for financial review, but to increase my knowledge please could you a) confirm if that's correct, and b) if they make contact wanting an FR, is it in the form of a demand (rather than a request) to be given access to your checking account with another institution, presumably with a refusal to comply resulting in full termination as a customer however many card accounts open with them?

---

Yes, FR is Financial Review, and it is a demand where they ask for access to your tax statements and/or bank account. Unlike a normal request for a credit limit increase where one can turn them down and resume current use of their account, a FR is not optional if they go that route. Once a FR has been initiated they lock all Amex accounts until it's completed. 

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Thank you, I appreciate your reply. In the UK they have been known to lock accounts and demand access to three months worth of bank account statements, but I see in the US they are even more demanding i.e. for requiring tax statements. Do they get commission from the IRS?