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Hi everyone,
I am an 18 year old college student (and a longtime lurker of these forums) who just passed 6 months of credit history at the beginning of this month. I currently have a Chase Freedom with a $500 limit and a Citi Forward with an $800 limit. I recently applied for the American Express Green (I was hoping to apply for the lower-AF, easier-to-get Zync, but the online application told me that the card has been discontinued). After watching the wheel spin for ~45 seconds, I was instantly approved with NPSL. Fast forward a week later, and I recieve an email from American Express:
Dear **********,
We were unsuccessful in contacting you today concerning your American Express account(s). In reviewing your account(s) it has been determined there are financial documents that you would need to furnish in order for us to complete our review. It is important you contact us within 7 business days to discuss the documents that are needed.
Please be advised there is currently a restriction placed on your account(s) and no further charges will be allowed until this matter is resolved. Also, failure to contact us could result in your account(s) being permanently cancelled.
We look forward to continuing our relationship and providing the services necessary for your continued success.
Sincerely,
American Express Account Service
I have not yet activated my card (I didn't recieve it until after I got this email). Since I was under the age of 18 last year, I do not have any 2011 tax returns (which is what I'm guessing they want from me). What should I do?
Contact them, and find out what it is they are wanting. And hope for the best.
Did you put down your ACTUAL income? What you actually make a year?
I stated the scholarships I recieved (I earned a full ride to the public university I attend) + what I expect to make from my on-campus job by the end of this year.
@Anonymous wrote:I stated the scholarships I recieved (I earned a full ride to the public university I attend) + what I expect to make from my on-campus job by the end of this year.
Then provide proof of the scholarship and a recent paystub.. IF that will suffice for them.. however, im not so sure the scholarship info is going to work..
Alright. If it doesn't suffice for them, will by credit report list the AMEX account as "account closed by credit grantor"? Currently, no Amex tradelines show up on my credit report. I'm just trying to figure out if I should close the account now vs taking the chance that they might close it.
I am no expert but I do not know if you can count the scholarship if it only pays for your tuition. I know if it gives you more than just for tuition you can put it, but otherwise it is not really income, since the money can not be used to pay the card off. Money you expect to make is not guaranteed and they want to see actual evidence of some form of income. As someone else stated, the best thing to do is contact them and see what kind of documents they would accept.
The scholarship was for tuition, room, board, books, and a small amount for personal expenses.
Also, if they do close the account, will I lose 2012 backdating, since the card was never activated?
@Anonymous wrote:The scholarship was for tuition, room, board, books, and a small amount for personal expenses.
Also, if they do close the account, will I lose 2012 backdating, since the card was never activated?
You were approved and then they pulled the FR so it will most likely show up on your report as card closed by credit grantor if they dont accept your income.