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@Anonymous wrote:
Well my wife accidentally made a dumb big purchase with one of my Amex cards (Hilton) and I got hit with a FR , and honestly I’ve always paid in full , always made payments on time .. so if they want to go ahead and still do the FR because a dumb move my wife made I’m just gonna cancel my 3 cards , credits gonna tank but oh well , but I don’t wanna show them my stuff because I’ve been great with them on payments and were my go to cards . So I’ll just cancel my accounts n my credit will take a big hit sadly.. any help on what I should do ?
First, don't take it personally.
Second, can you elaborate on what's a dumb big purchase -- I mean, did she buy a car on your CC? (only joking)? Also, how can one accidentally make a big purchase--this is so confusing.
Third, is wife an AU?
Fourth, AmX may be doing a FR for more than one thing that's not solely related to AmX. So, what is the UT on all individual cards in your wallet and are you making more than minimum payments? Have you opened several new accounts lately? Has anything derogatory been added to your CRs. Have your scores dropped since you got your AmX. Just trying to figure out what is really going on.
Finally, I understand not wanting to kowtow to a FR because neither would I and hope I'm never put in a position to do so. So the answer is simple. If they are requesting a 4506-T and you are adamant about not submitting one, then yes, it would be best to close the cards. However, if they are only asking for POI, why not provide that? So, what does the FR request consist of.
@Anonymous wrote:I mean you have two options here - comply or don't comply. There isn't really any advice to be given other than make absolutely sure that you're okay with losing the relationship. The dead horse has been beaten many times on whether or not someone should hand over all that info so the choice is really up to you.
+1000
@Anonymous wrote:
Well my wife accidentally made a dumb big purchase with one of my Amex cards (Hilton) and I got hit with a FR , and honestly I’ve always paid in full , always made payments on time .. so if they want to go ahead and still do the FR because a dumb move my wife made I’m just gonna cancel my 3 cards , credits gonna tank but oh well , but I don’t wanna show them my stuff because I’ve been great with them on payments and were my go to cards . So I’ll just cancel my accounts n my credit will take a big hit sadly.. any help on what I should do ?
You have three AMEX network cards in your siggy, but the Wells Fargo card is not included in this FR discussion. So you aren't planning to close the WF card, right?
The Ascend card has about a $45k limit, after just a year? Have you run other similar very large charges through this card? If not, then I will guess this is an example where AMEX can give you a pretend high limit, very quickly, but in the interest of risk management, they look closer at your profile if the actual use of the limit rises unexpectedly. I refer to it as "easy come, easy go"
If you enjoy the rewards of the AMEX cards, and think you will be getting others, then complying with the 4506-T request is mandatory.
You can close the cards, but I would guess your next app to AMEX may be a bit awkward if you didn't provide the 4506-T.
@Anonymous wrote:
@Anonymous wrote:
@saeren so if someone doesn’t comply or provide the info you lose Amex relationship forever ?No but you do until you provide them with the documents. A friend of mine refused to provide them two years ago and when he last applied for a card, he got asked right away.
Yep. AmX has a memory like an elephant. It won't matter if you appy 20 years from now, you better believe that they will ask for those docs. JMO. Relationships are everything. Don't burn the bridge unless you feel like there are more fish in the sea, which there are, and you don't have to deal with this BS. But as Saeren said, be absolutely sure.
@CreditInspired wrote:
@Anonymous wrote:
Well my wife accidentally made a dumb big purchase with one of my Amex cards (Hilton) and I got hit with a FR , and honestly I’ve always paid in full , always made payments on time .. so if they want to go ahead and still do the FR because a dumb move my wife made I’m just gonna cancel my 3 cards , credits gonna tank but oh well , but I don’t wanna show them my stuff because I’ve been great with them on payments and were my go to cards . So I’ll just cancel my accounts n my credit will take a big hit sadly.. any help on what I should do ?First, don't take it personally.
Second, can you elaborate on what's a dumb big purchase -- I mean, did she buy a car on your CC? (only joking)? Also, how can one accidentally make a big purchase--this is so confusing.
Third, is wife an AU?
Fourth, AmX may be doing a FR for more than one thing that's not solely related to Am. So, what is the UT on all individual cards and are you making more than minimum payments? Have you opened new accounts lately? Has anything derogatory been added to your CRs. Have your scores dropped since you got your AmX. Just trying to figure out what is really going on.
Finally, I understand not wanting to kowtow to a FR because neither would I and hope I'm never put in a spot to do so. So the answer is simple. If they are requesting a 4506-T and you are adamant about not submitting one, then yes, it would be best to close the cards. However, if they are only asking for POI, why not provide that? So, what does the FR request consist of.
Let's just say this purchase was over 30k . So yes very dumb purchase.
Yes she's an AU but for some reason she used MY card.
i always pay my amex cards in full , my utilization rate before this purchase was about 2-3%. no new accounts, no degoratory, and no same scores no dropping.
They're requestion the 4506T that is the reason why i want to just close them up
@NRB525 wrote:
@Anonymous wrote:
Well my wife accidentally made a dumb big purchase with one of my Amex cards (Hilton) and I got hit with a FR , and honestly I’ve always paid in full , always made payments on time .. so if they want to go ahead and still do the FR because a dumb move my wife made I’m just gonna cancel my 3 cards , credits gonna tank but oh well , but I don’t wanna show them my stuff because I’ve been great with them on payments and were my go to cards . So I’ll just cancel my accounts n my credit will take a big hit sadly.. any help on what I should do ?You have three AMEX network cards in your siggy, but the Wells Fargo card is not included in this FR discussion. So you aren't planning to close the WF card, right?
The Ascend card has about a $45k limit, after just a year? Have you run other similar very large charges through this card? If not, then I will guess this is an example where AMEX can give you a pretend high limit, very quickly, but in the interest of risk management, they look closer at your profile if the actual use of the limit rises unexpectedly. I refer to it as "easy come, easy go"
If you enjoy the rewards of the AMEX cards, and think you will be getting others, then complying with the 4506-T request is mandatory.
You can close the cards, but I would guess your next app to AMEX may be a bit awkward if you didn't provide the 4506-T.
No, i still have and will keep the WF Propel
That was actually my SL when I got the card, and no never really made any big purchases.
I would provide the 4506-T.
I don't understand the common opinion that cardholders want to borrow thousands of unsecured credit on a card, but do not want to make the bank comfortable that the cardholder is a good risk. From the bank perspective, each new account is just a number, no real distinction between good long term customers and a future write off. /end rant/
@Anonymous wrote:
@CreditInspired wrote:
@Anonymous wrote:
Well my wife accidentally made a dumb big purchase with one of my Amex cards (Hilton) and I got hit with a FR , and honestly I’ve always paid in full , always made payments on time .. so if they want to go ahead and still do the FR because a dumb move my wife made I’m just gonna cancel my 3 cards , credits gonna tank but oh well , but I don’t wanna show them my stuff because I’ve been great with them on payments and were my go to cards . So I’ll just cancel my accounts n my credit will take a big hit sadly.. any help on what I should do ?First, don't take it personally.
Second, can you elaborate on what's a dumb big purchase -- I mean, did she buy a car on your CC? (only joking)? Also, how can one accidentally make a big purchase--this is so confusing.
Third, is wife an AU?
Fourth, AmX may be doing a FR for more than one thing that's not solely related to Am. So, what is the UT on all individual cards and are you making more than minimum payments? Have you opened new accounts lately? Has anything derogatory been added to your CRs. Have your scores dropped since you got your AmX. Just trying to figure out what is really going on.
Finally, I understand not wanting to kowtow to a FR because neither would I and hope I'm never put in a spot to do so. So the answer is simple. If they are requesting a 4506-T and you are adamant about not submitting one, then yes, it would be best to close the cards. However, if they are only asking for POI, why not provide that? So, what does the FR request consist of.
Let's just say this purchase was over 30k . So yes very dumb purchase.
Yes she's an AU but for some reason she used MY card.
i always pay my amex cards in full , my utilization rate before this purchase was about 2-3%. no new accounts, no degoratory, and no same scores no dropping.
They're requestion the 4506T that is the reason why i want to just close them up
Did you return the item (since it was an accidental purchase)?
If you didn't return it, can you pay the $30K in full? (I'm only asking because you say you PIF)
A $30K one-time purchase on a $45K CL spooked the bejesus out of AmX. And, since they didn't shut you down and only requested a 4506-T, they're in risk prevention mode, which is quite understandable IMHO.