AMEX QUESTION FOR YOU ALL

[sccredit]

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@improvingmycredit wrote:

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@blondy250 wrote:

In my opinion people who worry about FR by AMEX, have something to hide and haven't been truthful. With that said AMEX does act differently from the other prime companies so some people might find what they do as confusing, worrisome. AMEX is my favorite company BTW.

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Hey blondy250!

Sorry, but I don't agree with this at all.  I am sure that in more then half the cases this is true, but I was FR'd and have nothing to hide.  I was a prior Amex holder and handled it poorly when I was very young.  After rebuilding, I had nothing but really starter cards and a CU card with a good limit.  I got the FR after using the card once at check out.  I don't disagree with Amex's policy of FRing people to ensure they can meet their obligations, but I think... like with with most lenders, it should be done at app not after issue of the card.  ( or after an individual does something out of the norm... for example apping a lot of cards or running up balances) My only gripe.  I whole heartedly agree with the poster.  Why if Amex was the goal card... would you do anything to risk losing it.  I'm not talking about using it as intended, but actually doing the crazy stuff I've seen on this forum like apping a ton of cards or running up balances or constantly hitting the "check your spending" button on the Amex site over and over again.  Not good practice of being responsible for sure.  

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I think that no one actually knows what triggers FR, there is a lot of speculation about it but for all we know it could be a lottery machine with your number on it.  I also agree the FR concern is overblown.  I also disagree with the assertion that people have something to hide, while there are some I know more people who have been FR'd that there was no reason to.   

Its really simple, to some people the "prestige" (I actually had a CSR from AMEX give that line) is worth it, to others it is not.  For everyone it is YMMV.

[Anonymous]

@ webhopper I dont consider anyone to be misleading me. I am a current amex cardholder myself. Weather its a small or large number of individuals is not the question. But with what you said even  if it is such a small number of people the question still remain why apply if you are fully aware of amex?

[CreditCrusader]

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@webhopper wrote:

The percentage of folks who worry about a FR is very small, yet very vocal, thus misleading folks such as yourself about the amount of actual card carriers who actually worry about it.

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Exactly..and to that point, Amex hits people with FR's for a purpose i.e. something has given them pause and caused them to re-evaluate the card holder's qualification for credit...nothing wrong about that. In fact, I wish every credit issuer exercised this level of scrutiny.

When people sweat an FR, there is almost always a really good reason. This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

Edited to add:

One thing more...

I honestly do not understand why people whine about how Amex does business...or Barclay...or BOA...or any other CCC, for that matter. People, in a free market society, you have the CHOICE whether or not to do business with companies like Amex. It is 100% arrogant and narcissistic to expect a for-profit company to adjust its RM policies to suit your comfort level.

Amex is a pretty exclusive product...much in the same way that a country club is an exclusive membership. You either meet and maintain their conditions for membership or you take a hike...simple as that.

[sccredit]

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@CreditCrusader wrote:

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@webhopper wrote:

The percentage of folks who worry about a FR is very small, yet very vocal, thus misleading folks such as yourself about the amount of actual card carriers who actually worry about it.

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Exactly..and to that point, Amex hits people with FR's for a purpose i.e. something has given them pause and caused them to re-evaluate the card holder's qualification for credit...nothing wrong about that. In fact, I wish every credit issuer exercised this level of scrutiny.

When people sweat an FR, there is almost always a really good reason. This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

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Once again, this is not correct information.  It is unfounded speculation. 

It also doesn't address the OPs original question - if you have a fear of FR, why even apply for the card in the first place?. 

[CreditCrusader]

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@sccredit wrote:

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@CreditCrusader wrote:

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@webhopper wrote:

The percentage of folks who worry about a FR is very small, yet very vocal, thus misleading folks such as yourself about the amount of actual card carriers who actually worry about it.

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Exactly..and to that point, Amex hits people with FR's for a purpose i.e. something has given them pause and caused them to re-evaluate the card holder's qualification for credit...nothing wrong about that. In fact, I wish every credit issuer exercised this level of scrutiny.

When people sweat an FR, there is almost always a really good reason. This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

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Once again, this is not correct information.  It is unfounded speculation. 

It also doesn't address the OPs original question - if you have a fear of FR, why even apply for the card in the first place?. 

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Definition of unfounded:

Having no foundation or basis in fact.

With all due respect, when multiple people on this forum post information to the contrary, you really can't make an assertion that it is "unfounded". What's more, you also cannot claim something is "not correct" when, by definition, it has been proven to be 100% correct in many instances.

If you want to know the answer to the OP's original question, I answered it:

This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

Why apply for it in the first place? BECAUSE THEY WANT AN AMEX. Why fear the FR? Because they believe to some extent that their accurate information will not suffice...and that they may have to embellish some to score the card.

Now, you can CHOOSE to believe something to the contrary, but this is really the best explanation for what happens in these instances...and the fact is, people who sweat Amex FR's likely sweat for a reason.

Edited to add:

I really have no desire to get into another flame war with a poster over this, so this will be my last response in this thread on the topic. I know people PERSONALLY (a half a dozen, in fact) who were FR'd by Amex and sweated it/refused to send income verification/tax forms for EXACTLY the reasons I am arguing. We have also read multiple forum posts here from Amex card holders who admitted they embellished their income.

Do ALL FR haters hate because they lied? Of course not...nothing is absolute in credit. But there is enough evidence to suggest that, at minimum, it is a strong cause of the angst among significant numbers of those sweating such reviews.

[thom02099]

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@sccredit wrote:

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@CreditCrusader wrote:

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@webhopper wrote:

The percentage of folks who worry about a FR is very small, yet very vocal, thus misleading folks such as yourself about the amount of actual card carriers who actually worry about it.

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Exactly..and to that point, Amex hits people with FR's for a purpose i.e. something has given them pause and caused them to re-evaluate the card holder's qualification for credit...nothing wrong about that. In fact, I wish every credit issuer exercised this level of scrutiny.

When people sweat an FR, there is almost always a really good reason. This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

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Once again, this is not correct information.  It is unfounded speculation. 

It also doesn't address the OPs original question - if you have a fear of FR, why even apply for the card in the first place?. 

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For SOME people (not all), it's the thrill of the hunt.  For others (not all), it's an addiction. For even others (not all), it's all a big game.  That's why they apply, even though they have a fear of "what if".   

[sccredit]

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@CreditCrusader wrote:

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@sccredit wrote:

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@CreditCrusader wrote:

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@webhopper wrote:

The percentage of folks who worry about a FR is very small, yet very vocal, thus misleading folks such as yourself about the amount of actual card carriers who actually worry about it.

---

Exactly..and to that point, Amex hits people with FR's for a purpose i.e. something has given them pause and caused them to re-evaluate the card holder's qualification for credit...nothing wrong about that. In fact, I wish every credit issuer exercised this level of scrutiny.

When people sweat an FR, there is almost always a really good reason. This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

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Once again, this is not correct information.  It is unfounded speculation. 

It also doesn't address the OPs original question - if you have a fear of FR, why even apply for the card in the first place?. 

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Definition of unfounded:

Having no foundation or basis in fact.

With all due respect, when multiple people on this forum post information to the contrary, you really can't make an assertion that it is "unfounded". What's more, you also cannot claim something is "not correct" when, by definition, it has been proven to be 100% correct in many instances.

If you want to know the answer to the OP's original question, I answered it:

This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

Why apply for it in the first place? BECAUSE THEY WANT AN AMEX. Why fear the FR? Because they believe to some extent that their accurate information will not suffice...and that they may have to embellish some to score the card.

Now, you can CHOOSE to believe something to the contrary, but this is really the best explanation for what happens in these instances...and the fact is, people who sweat Amex FR's likely sweat for a reason.

Edited to add:

I really have no desire to get into another flame war with a poster over this, so this will be my last response in this thread on the topic. I know people PERSONALLY (a half a dozen, in fact) who were FR'd by Amex and sweated it/refused to send income verification/tax forms for EXACTLY the reasons I am arguing. We have also read multiple forum posts here from Amex card holders who admitted they embellished their income.

Do ALL FR haters hate because they lied? Of course not...nothing is absolute in credit. But there is enough evidence to suggest that, at minimum, it is a strong cause of the angst among significant numbers of those sweating such reviews.

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Opinion:a personal view, attitude, or appraisal

Fact: A thing that is indisputably the case.

You, and other posters, are dispensing OPINIONS as FACTS.  You are entitled to your own opinion, but not your own facts.  I, personaly know people who have been FR'd and have had no reason to lie about income, 800+ credit scores, 20+ year histories with AMEX, and seemingly no reason for the FR.  AMEX wouldn't provide one.  How would you explain this? 

Once again, to sit here and say over and over that people who are FR'd lied about income is not a statement made infact, it is an opinion.  Please don't confuse the two

[bs6054]

And also:

This is why lying about income or any other piece of information just to score an Amex is as futile as lying about income on your taxes to score a higher refund. Sooner or later, your lie will catch up to you and your magical credit card will vanish.

There's actually no evidence of this either.  For all I know, everyone except me lies on their taxes and credit card application, and only 0.000001% get caught.  Or maybe very few lie, and 99.9999% of those that do get caught.   No way of knowing.

[Anonymous]

Gentlemen and or ladies I only wrote this thread to attempt to understand why people apply for amex cards when they are fully aware that amex is extremely well known for FR'S and etc (NOT WHAT TRIGGERS THEM)  then when they get the card they ask and or worry about amex when they was fully aware of such behavior from amex before applying for the card.

I did not in any manner intended for this thread thus fore to be taking out of context.

[improvingmycredit]

LOL!!! This topic always get heated and ALWAYS some takes their toys and leaves the playground.