Amex FR

[Anonymous]

Whatup everybody..So on Fri I was checking out my accounts

and it said charging suspended and to call them. So obviously I called them and sure enough they were conducting a financial review. They asked a bunch of questions and I have to say they were extremely nice. Anyway we went over several charges on my accounts. They asked me several times how much I make which I thought was weird. At the end they requested 3 months bank statements. So my question what is everyones opinion on the FR? Do you think I have anything to worry about. Also what is the time line of these things? Anyway thanks in advance..

Just FYI my income is around 110k and I don't engage in MS.

[AverageJoesCredit]

What kind of charges were in question if you dont mind sharing?

[CreditCuriosity]

three months bank statements arent bad vs. 4506 their typical method of FR's..  Assuming you aren't living beyond your means you should come out fine as long as you didn't lie on the application and matches pretty closely to said bank statements you should be good with all you said.

[Anonymous]

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@Anonymous wrote:

Whatup everybody..So on Fri I was checking out my accounts

and it said charging suspended and to call them. So obviously I called them and sure enough they were conducting a financial review. They asked a bunch of questions and I have to say they were extremely nice. Anyway we went over several charges on my accounts. They asked me several times how much I make which I thought was weird. At the end they requested 3 months bank statements. So my question what is everyones opinion on the FR? Do you think I have anything to worry about. Also what is the time line of these things? Anyway thanks in advance..

Just FYI my income is around 110k and I don't engage in MS.

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Looks like it's time to just drop AMEX. 

I don't know why people put up with this stupid crap...  People should just laugh at them and go to the one of a million competitors who offer similar products.  People should be honest on their application regarding income information, but it's the entire principal of the idea, plus the embarassment of declined transactions because the only other way to find out you have a FR request is through the website. 

If people started stepping on AMEX's throat when they insist on doing FR's, they'd either stop doing them or lose a ton of business. Nobody else does FR's as much as AMEX and clearly they're not the company they used to be. 

[red259]

This post isn't helpful. What charges did they ask about and how much are you running through the amex cards? Carrying any balances with amex or anyone else? 

[Loquat]

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@Anonymous wrote:

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@Anonymous wrote:

Whatup everybody..So on Fri I was checking out my accounts

and it said charging suspended and to call them. So obviously I called them and sure enough they were conducting a financial review. They asked a bunch of questions and I have to say they were extremely nice. Anyway we went over several charges on my accounts. They asked me several times how much I make which I thought was weird. At the end they requested 3 months bank statements. So my question what is everyones opinion on the FR? Do you think I have anything to worry about. Also what is the time line of these things? Anyway thanks in advance..

Just FYI my income is around 110k and I don't engage in MS.

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Looks like it's time to just drop AMEX. 

I don't know why people put up with this stupid crap...  People should just laugh at them and go to the one of a million competitors who offer similar products.  People should be honest on their application regarding income information, but it's the entire principal of the idea, plus the embarassment of declined transactions because the only other way to find out you have a FR request is through the website. 

If people started stepping on AMEX's throat when they insist on doing FR's, they'd either stop doing them or lose a ton of business. Nobody else does FR's as much as AMEX and clearly they're not the company they used to be. 

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I think this advice is a bit of an overstep.  I understand some don't want to play the tax transcript game with Amex but this is a simple request for bank statements which is, in my opinion, a lot better than having to turn over your tax info.

If the OP decides to comply or not is completely their choice and it will be respected around these here forums...but suggesting that someone ditch Amex (or any lender) simply because they ask for income verification as they allow your to borrow thousands of unsecured dollars is a bit of an overstep in my opinion.

To the OP, browse the forums and ask questions like you have.  Take in all the information you so desire and make an informed decision.  Don't let the thoughts and opinions of anyone here outweigh that of your own.  Best of luck to you in whatever decision you make.

[red259]

Between giving over tax documents and showing a few months of bank statements i'd be more likely to opt for the bank statements, although I'm not sure I would comply with even that. I've been with amex for years and never had an issue and have excellent credit. If they all of a sudden started demanding this stuff I'd probably just tell them to pound pavement because I am not super impressed with their cards. If I was someone with an extremely thin credit profile or extremely high volume of spend in comparison to my limit I would probably comply because then it would be understandable their concern. OP can do what they want as there is no right or wrong answer. 

[Anonymous]

I have 2 questions for the OP if he/she is willing to answer because i'm trying to understand why FR happens at all.

How many accounts do you have with AMEX and approximately for how long?

Do you believe that there is a possibility that the review is happening due to certain charges or a weird change in spending pattern?

[red259]

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@Anonymous wrote:

I have 2 questions for the OP if he/she is willing to answer because i'm trying to understand why FR happens at all.

How many accounts do you have with AMEX and approximately for how long?

Do you believe that there is a possibility that the review is happening due to certain charges or a weird change in spending pattern?

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Yea the problem with these threads are people post they got FR'd and then provide scant details which causes a bunch of speculation. Hopefully the OP will come back and answer some of the followup questions. 9 times out of 10 its pretty obvious why an FR happened once you have the details of the surrounding circumstances and knowing what triggered it tends to calm people down.

[UpperNwGuy]

I agree with the others who have posted.  It would be helpful for OP to provide us with more information so we can learn more about what triggers Amex financial reviews.