AMEX financial review questions

[DaWhole9]

Im looking for data points so I can avoid an AMEX financial review if possible.  I have 3 AMEX cards, 1 personal and 2 business cards.  My BCP card is at a CL of $12k.  My business cards are $23k and $3k.  I have read that a financial review will be triggered if you have over $35k in CL total or over $25k on an individual card.  I was going to request a CLI on my personal card, 12k to 24k. I already have over $35k in credit limits total.  Will that trigger a financial review?  If I get my personal card to $24k and then add anotger personal card later, will that trigger a review?  Thanks in advance. 

[MarkintheHV]

When I got my BCP a year ago, I started out with a 15k CL.  At the 91 day mark, I asked for the 3x CLI and they gave it to me bringing my CL to 45k.  I also have a business card at 52k and I have not yet been subjected to a financial review.  I always PIF.

[wasCB14]

Financial Review and Income Verification are not the same thing.

[CreditCuriosity]

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@wasCB14 wrote:

Financial Review and Income Verification are not the same thing.

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^ this

[coldfusion]

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@CreditCuriosity wrote:

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@wasCB14 wrote:

Financial Review and Income Verification are not the same thing.

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^ this

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Yep.

The $35K "rule" isn't exactly an AMEX rule either. It's a figure emperically derived years ago from many data points pointing to it being a threshold that often triggers an income verification process in response to a CLI request.  Those are done primarily through an IRS 4506-T (now a 4506-C*) request allowing AMEX access to one's federal tax returns for the last 2 years.   You can also decline to authorize such a request but the extent of their response to a refusal is to deny the CLI request.  Current limits are not impacted.

A financial review is requested when AMEX suspects something is up, whether they suspect potential fraud or a major change in one's financial status.  It can vary in the amount and type of information requested but the expected outcome if a request is refused will be that ones accounts will be closed.

* The 4506-T was transitioned over to a 4506-C a couple of years ago,  they're essentially identical forms but the IRS tightened up on who they will release tax information to with the 4506-C by imposing tougher requirements, without any grandfathering of legacy recipients.

[longtimelurker]

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@coldfusion wrote:

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The $35K "rule" isn't exactly an AMEX rule either. It's a figure emperically derived years ago from many data points pointing to it being a threshold that often triggers an income verification process in response to a CLI request. 

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Right, and in my day it was the $25K rule.   When I got an income verification request after going above $25K and posted about on some forum,  I got helpful replies of the form "I can't believe you didn't know that", a style I have since tried to emulate.

[Curious_George2]

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@coldfusion wrote:

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@CreditCuriosity wrote:

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@wasCB14 wrote:

Financial Review and Income Verification are not the same thing.

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^ this

---

Yep.

The $35K "rule" isn't exactly an AMEX rule either. It's a figure emperically derived years ago from many data points pointing to it being a threshold that often triggers an income verification process in response to a CLI request.  Those are done primarily through an IRS 4506-T (now a 4506-C*) request allowing AMEX access to one's federal tax returns for the last 2 years.   You can also decline to authorize such a request but the extent of their response to a refusal is to deny the CLI request.  Current limits are not impacted.

A financial review is requested when AMEX suspects something is up, whether they suspect potential fraud or a major change in one's financial status.  It can vary in the amount and type of information requested but the expected outcome if a request is refused will be that ones accounts will be closed.

* The 4506-T was transitioned over to a 4506-C a couple of years ago,  they're essentially identical forms but the IRS tightened up on who they will release tax information to with the 4506-C by imposing tougher requirements, without any grandfathering of legacy recipients.

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Yep. 

Also, in the past year or so, Amex has added some flexibility to the income verification process. They now offer the option of sending in several (3?) months of bank statements. I've been getting -- and ignoring -- these income verification requests on every CLI request I've submitted to Amex for about a year. Nothing bad has happened to me, unless you count not getting higher limits. 

OP: Amplifying what @coldfusion said: fear not. Ask for the limits you want. You might get them or you might not, but you won't trigger Financial Review. 

[Shooting-For-800]

My wife has a Prefered Blue at $35k without any income verification or financial review.

I think it's generally over $35k per card...