AMEX Financial Review

[Anonymous]

Amex suspend my cards and when i talked to them the ask me to send the 4506T form and i didn't file tax return from 2 years ago How can i deal with this situation ? Is my credit score will fall down if they cancel my account? there is any other way to handel this situation with out send 4506T?

It is better to request to close the account rather than then they cancell the acount ? If they cancel the account do i have still have chance to apply to the AMEX credit cards in the future?

P.S: my credit score in FICO 767

Thanks 

[ChargedUp]

You can go ahead and let them have the 4506-T and they'll see you didn't file one year. It's up to you if you choose to comply.

If you don't send the 4506-T, they will close your cards in a few weeks if they're zero balance. If you have a balance, you can still pay it off according to the original cardmember agreement terms from when you applied.

Sorry you're having to deal with this, but if you do a search on the forums here, you'll find others that have dealt with the same situation.

Welcome to My FICO!

[grower1]

Did they provide a reason why your cards were suspended? 

[Anonymous]

I purchased 4 New Iphone and new Macbook Pro it cost around $9000 and i already covered this expenses before they call I purchased 4 New Iphone and new Macbook Pro it cost around $9000 and i already covered this expenses before they call me  They told me you income in my application $25000 and they need to verify my income from tax return  I am not American citizen i have visa so i travel a lot and most of my income from USA not Taxable and rest of my income from private business outside USA

P.S: I purchased the 4 Ipohne to send back to my family outside USA 

[ChargedUp]

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@Anonymous wrote:

I purchased 4 New Iphone and new Macbook Pro it cost around $9000 and i already covered this expenses before they call I purchased 4 New Iphone and new Macbook Pro it cost around $9000 and i already covered this expenses before they call me  They told me you income in my application $25000 and they need to verify my income from tax return  I am not American citizen i have visa so i travel a lot and most of my income from USA not Taxable and rest of my income from private business outside USA

P.S: I purchased the 4 Ipohne to send back to my family outside USA 

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Ahh, ok...  You can send them the 4506-T and try sending documentation of your other income, but I'm not sure if they'll take it into consideration. Either way, they will want the tax form before going any further.

Seeing you spend over a third of your stated income in one shot likely triggered a manual review.

[grower1]

I have seen Amex income verification requests for credit limit increases, but I'm not aware of a purchase triggering this request. I'm sure someone in the forum with more knowledge on this topic will be able to provide you with insights. In the meantime, search in the forum with keywords such as "Amex 4506T", you may find others with a similar situation. 

[Anonymous]

I am not surprised at all to see the request based on the size of the purchase and OP’s stated income. Whether you comply with the request or not depends on how much you want to keep your accounts - if you don’t comply, they will be closed. In the future if you reapply, expect to have to comply with a new 4506-T before they’ll grant another card.

[FinStar]

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@Anonymous wrote:

Amex suspend my cards and when i talked to them the ask me to send the 4506T form and i didn't file tax return from 2 years ago How can i deal with this situation ? Is my credit score will fall down if they cancel my account? there is any other way to handel this situation with out send 4506T?

It is better to request to close the account rather than then they cancell the acount ? If they cancel the account do i have still have chance to apply to the AMEX credit cards in the future?

P.S: my credit score in FICO 767

Thanks 

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Hello @Anonymous and welcome to the forums.

Not sure if the [FR] situation may be similar, but feel free to check out the recent thread below:

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-TPC-under-Financial-Review/m-p/5726912

[CreditInspired]

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@Anonymous wrote:
I am not surprised at all to see the request based on the size of the purchase and OP’s stated income. Whether you comply with the request or not depends on how much you want to keep your accounts - if you don’t comply, they will be closed. In the future if you reapply, expect to have to comply with a new 4506-T before they’ll grant another card.

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Ditto.
OP those are pretty big charges for a $25K income even with PIF. Yes, you will be shut down if you dont comply. No, you will not get approved for another AmX card until you comply. If CC balance is $0, no negative impact to UT.

It doesnt matter how it is reported--closed by creditor or closed by customer--no negative impact to credit. 

Since you havent filed, it would be in your best interest to do so because there have been postings that Disco has asked new account holders for 4506-T, so who knows what other creditors may follow suit. 

[Anonymous]

I asked accountant about my situation and he told me you are not subject to tax return 

Do you think i still need to file the tax return?