@spartans412 wrote:Hey everyone,
I received a call today from an Unknown number. I usually don't answer these types of calls but decided to anyway. To my surprise it was a representative calling from AMEX's financial review team. He informed me that my account was under financial review and that my accounts would be suspended pending submission and review of last year's tax return. He then asked my current employer and address, job title, years employed and annual income.
I asked why my accounts were flagged for FR and the rep told me that the reason is because my authorized card member had spent more money over the past few months more than I had. I informed him that he was spending more due to travel for his job. He paid for hotel and airfare with one of his cards then PIF when his job reimbursed him. The rep didn't ask for his tax documents, just mine.
I'm going to fax over the information tomorrow but am a little annoyed and irritated because of the intrusive process.
FYI, I have an AMEX Green and Blue Cash card and just applied and received the Gold premier rewards card last week.
When the AU spends more than the primary card holder that is going to raise a flag. Even though its legitimate reasons in your case I have seen time and time again peoiple getting hit with FRs for this very situation.
;
@Anonymous wrote:
@mongstradamus wrote:It seems like its an double edged sword with amex , I am afraid of getting FR'ed, but i really do like the 3x CLI and MSD :-(
Two things to bear in mind:
1) FRs are really rare. You see the posts (and there are two going on now, which is also rare!) but you don't see the posts "Another day when I didn't get an FR!"
2) As others have alluded, FRs can be, at least in theory, preferable to what other issuers do. If Chase, Citi etc have concerns, they will close down your cards and when you ask why, will cite "Security" and not tell you more. At least with Amex, you have a chance to put your side of the case (providing you provide the docs they want).
Of course, many feel the tax form stuff is intrusive (I do as well) but at least you have the choice! With other issuers, you are just shut down.
I guess the question then becomes is Amex more likely to FR you than Chase or Citi? It seems like Amex is more likely to do so than the others, but that is just based upon my observation of others posts.
@Anonymous wrote:
@Bman70 wrote:+1. Pretty fishy, when someone will let their accounts be closed over "privacy." Yes it is privacy - as in "I don't want anyone to know I was lying." Lol.
That said, there are other scenarios.. Say the bulk of someone's income is "under the table" and avoids tax. They didn't misstate the amount in this case, they're just fudging with the IRS and the actual amount can't be verified through tax records. Still fishy activity, but a different sort. While I wouldn't agree with them, I think that's their private choice.
Right, because no-one could possibly care about different things than you, and value privacy over a set of cards from one issuer.
+1 I keep seeing a trend of people who assume if a person does not want to provide private tax to information to a lender they must have lied in their application or be engaging in some sort of other fraud. To those posters you have no way of knowing if that is the case (it may be or it may not be), so please stop assuming people are hiding something as its not constructive or supportive to the forumn. There can be any number of reasons why someone does not want to comply with a FR. Not everyone values Amex as the end all be all of lenders.
@red259 wrote:
@Anonymous wrote:
@Bman70 wrote:+1. Pretty fishy, when someone will let their accounts be closed over "privacy." Yes it is privacy - as in "I don't want anyone to know I was lying." Lol.
That said, there are other scenarios.. Say the bulk of someone's income is "under the table" and avoids tax. They didn't misstate the amount in this case, they're just fudging with the IRS and the actual amount can't be verified through tax records. Still fishy activity, but a different sort. While I wouldn't agree with them, I think that's their private choice.
Right, because no-one could possibly care about different things than you, and value privacy over a set of cards from one issuer.
+1 I keep seeing a trend of people who assume if a person does not want to provide private tax to information to a lender they must have lied in their application or be engaging in some sort of other fraud. To those posters you have no way of knowing if that is the case (it may be or it may not be), so please stop assuming people are hiding something as its not constructive or supportive to the forumn. There can be any number of reasons why someone does not want to comply with a FR. Not everyone values Amex as the end all be all of lenders.
+1
I love my Amex cards but they are far from high usage for me. I only put around $3,500 this year and around $400 last year through my card. Only put on like $10 on my Everyday card. My main use for Amex is Costco since I rather use Credit cards then Debit and they only accept Discover, Master card and Visa Debit cards.
