@Anonymous wrote:
@impovingmycredit wrote:
I'm just bloviating.I am sure that I will love using my Amex. I've already complied with the request so... Blah blah blah... I'll shut up about it already. LOL. Still don't understand the reason behind an after the fact "vetting" process. Weird! My credit union got all this info on the front side when lending to me. What was my CU thinking? They should have let me sign for the car first so that they could then really check to see if I could afford it. Duh!
Look at it this way. You already got hit with the inquiries and the score hit for opening a new account - they pretty much know you have to comply with their demands at this point.
If they asked for all the FR docs at the time of applying for the card, I'm sure a lot of people would refuse. But once you've already taken the hits to get the card, they know they can strong-arm you into doing whatever they want.
Agreed. And not a great way of doing business -- strong-arming is not what I expect from my business partners.
This said, if FRd I would comply but resent it. As others have noticed, paycheck? Sure. Marital situation / children? Not your whistling business. There is only one partner who can ask for my firstborn, but He offers even better rewards.
4.2K 
10K 
24.6K 
Not really. You can get FR'd today, pass, and then a 'drastic' change in your spending habits as determined by Amex could trigger another FR next month. 'Drastic' including CLI requests.
Here's the big deal, and this is just part of it depending on which option AMEX chooses on the 4506-T.
Concept & 1040 Line #
1) Names & SSNs of your entire family and your ex-spouse: 6a, 6b, 6c, 31a
2) Marital status: Right at the top of the form.
3) Alimony & child support: 11
4) HSA contributions: 25
5) Blind: 39a
6) Immigration status: 39b (also they can tell by your SSN)
7) Bank account number: 74b, 74c, 74d
8) Children adopted: 71b
9) Qualified health insurance plan:
10) Combat zone pay: 64b
11) Child care expenses: 48
12) First time home buyer: 67
13) Continuing education: 49 & 66 & 34
14) Retirement funds: 50
15) Unemployed you / spouse at any period during the year: 19
16) Rental income: 17
17) Social security benefits: 20a
18) What fuel does your car consume: 70
19) Energy-related home improvements:52
20) Own or rent your home: 52 & 67
It will also cost you $57 to submit yourself to this.
I'm not sure I'd like to have my tax information floating around in an AMEX computer system for any CSR, or anyone who can log in, anywhere in the world to have this kind of information.
It's funny how when we fill out an application we gladly provide most of this information to a CCC. However, when we are asked to provide this information by way of documentation for Amex to assure we are attaining our income/assets legally we are up in arms! Maybe it's because I'm poor, maybe it's because 15 years ago I was told I would never be able to attain an Amex by one of my old supervisors, maybe it's because my favorite warehouse only takes Amex for charging. But FR's are not as intrusive as many make it seem. If you have to have the best of both worlds, get an Amex Charge and or credit card and a cobranded Amex, this way if you are ever FR'd your other card can still be used. I understand the OP concern with Amex regarding the FR 1 week after receiving his card. That sucks! Essentially everything one can do with a charge card one can do with any credit card, debit card or cash (minus reward points, hassle free insurance etc for most debits and cash). Penfed in many instances also requires Tax returns but I don't hear nearly as much discussion regarding their practices. Stay strong you will love your Amex for all it has to offer. If you are upset with Amex or you are reconsidering please lend your services to Orchard, or Capitol One it is possible you may enjoy their services far more than Amex 
@teenastie wrote:
Here's the big deal, and this is just part of it depending on which option AMEX chooses on the 4506-T.
Concept & 1040 Line #
1) Names & SSNs of your entire family and your ex-spouse: 6a, 6b, 6c, 31a
2) Marital status: Right at the top of the form.
3) Alimony & child support: 11
4) HSA contributions: 25
5) Blind: 39a
6) Immigration status: 39b (also they can tell by your SSN)
7) Bank account number: 74b, 74c, 74d
8) Children adopted: 71b
9) Qualified health insurance plan:
10) Combat zone pay: 64b
11) Child care expenses: 48
12) First time home buyer: 67
13) Continuing education: 49 & 66 & 34
14) Retirement funds: 50
15) Unemployed you / spouse at any period during the year: 19
16) Rental income: 17
17) Social security benefits: 20a
18) What fuel does your car consume: 70
19) Energy-related home improvements:52
20) Own or rent your home: 52 & 67
It will also cost you $57 to submit yourself to this.
I'm not sure I'd like to have my tax information floating around in an AMEX computer system for any CSR, or anyone who can log in, anywhere in the world to have this kind of information.
It's funny how when we fill out an application we gladly provide most of this information to a CCC. However, when we are asked to provide this information by way of documentation for Amex to assure we are attaining our income/assets legally we are up in arms! Maybe it's because I'm poor, maybe it's because 15 years ago I was told I would never be able to attain an Amex by one of my old supervisors, maybe it's because my favorite warehouse only takes Amex for charging. But FR's are not as intrusive as many make it seem. If you have to have the best of both worlds, get an Amex Charge and or credit card and a cobranded Amex, this way if you are ever FR'd your other card can still be used. I understand the OP concern with Amex regarding the FR 1 week after receiving his card. That sucks! Essentially everything one can do with a charge card one can do with any credit card, debit card or cash (minus reward points, hassle free insurance etc for most debits and cash). Penfed in many instances also requires Tax returns but I don't hear nearly as much discussion regarding their practices. Stay strong you will love your Amex for all it has to offer. If you are upset with Amex or you are reconsidering please lend your services to Orchard, or Capitol One it is possible you may enjoy their services far more than Amex
Maybe 10 of those lines we report to them. That's alot of peronsal information on there that AMEX or any CCC does not need to know.
@LS2982 wrote:
@teenastie wrote:
It's funny how when we fill out an application we gladly provide most of this information to a CCC. However, when we are asked to provide this information by way of documentation for Amex to assure we are attaining our income/assets legally we are up in arms! Maybe it's because I'm poor, maybe it's because 15 years ago I was told I would never be able to attain an Amex by one of my old supervisors, maybe it's because my favorite warehouse only takes Amex for charging. But FR's are not as intrusive as many make it seem. If you have to have the best of both worlds, get an Amex Charge and or credit card and a cobranded Amex, this way if you are ever FR'd your other card can still be used. I understand the OP concern with Amex regarding the FR 1 week after receiving his card. That sucks! Essentially everything one can do with a charge card one can do with any credit card, debit card or cash (minus reward points, hassle free insurance etc for most debits and cash). Penfed in many instances also requires Tax returns but I don't hear nearly as much discussion regarding their practices. Stay strong you will love your Amex for all it has to offer. If you are upset with Amex or you are reconsidering please lend your services to Orchard, or Capitol One it is possible you may enjoy their services far more than Amex
Maybe 10 of those lines we report to them. That's alot of peronsal information on there that AMEX or any CCC does not need to know.
ITA!
@sandsanta wrote:'Drastic' including CLI requests.
How would they know if you requested it or it was given to you?
Starting Score: 648
@scottwagnon wrote:i must have been very lucky, then again i didn't start out with a charge card. i had a charge card with them for two weeks in june 2005, then closed my account after realizing that i was paying an annual fee for a card i didn't realize i would have to pay only in full (i didn't realize it wasn't a credit card). in october 12 of 2010 is when i started out with blue cash.
i think it is primarily the charge cards they like to FR with new account holders.
the day amex FR's me, i will gracefully wave my hat to them and close the door. i will re apply after six months perhaps, but no credit card is worth this. i suggest you do the same, and reapply 6 months down the road, or as soon as you are eligble to reapply. i think amex will get the hint eventually and leave you alone. this practice of constantly FRing so many has gone overboard and people with prime credit have the right to fight back.
I've read a few accounts of people who decline to go through FR, and then apply later and immediately get FR'd again. YMMV.
@teenastie wrote:
Here's the big deal, and this is just part of it depending on which option AMEX chooses on the 4506-T.
Concept & 1040 Line #
1) Names & SSNs of your entire family and your ex-spouse: 6a, 6b, 6c, 31a
2) Marital status: Right at the top of the form.
3) Alimony & child support: 11
4) HSA contributions: 25
5) Blind: 39a
6) Immigration status: 39b (also they can tell by your SSN)
7) Bank account number: 74b, 74c, 74d
8) Children adopted: 71b
9) Qualified health insurance plan:
10) Combat zone pay: 64b
11) Child care expenses: 48
12) First time home buyer: 67
13) Continuing education: 49 & 66 & 34
14) Retirement funds: 50
15) Unemployed you / spouse at any period during the year: 19
16) Rental income: 17
17) Social security benefits: 20a
18) What fuel does your car consume: 70
19) Energy-related home improvements:52
20) Own or rent your home: 52 & 67
It will also cost you $57 to submit yourself to this.
I'm not sure I'd like to have my tax information floating around in an AMEX computer system for any CSR, or anyone who can log in, anywhere in the world to have this kind of information.
It's funny how when we fill out an application we gladly provide most of this information to a CCC. However, when we are asked to provide this information by way of documentation for Amex to assure we are attaining our income/assets legally we are up in arms! Maybe it's because I'm poor, maybe it's because 15 years ago I was told I would never be able to attain an Amex by one of my old supervisors, maybe it's because my favorite warehouse only takes Amex for charging. But FR's are not as intrusive as many make it seem. If you have to have the best of both worlds, get an Amex Charge and or credit card and a cobranded Amex, this way if you are ever FR'd your other card can still be used. I understand the OP concern with Amex regarding the FR 1 week after receiving his card. That sucks! Essentially everything one can do with a charge card one can do with any credit card, debit card or cash (minus reward points, hassle free insurance etc for most debits and cash). Penfed in many instances also requires Tax returns but I don't hear nearly as much discussion regarding their practices. Stay strong you will love your Amex for all it has to offer. If you are upset with Amex or you are reconsidering please lend your services to Orchard, or Capitol One it is possible you may enjoy their services far more than Amex
Correct me if I am wrong, but I believe PenFed's request for tax returns is in the application phase of obtaining a card from them. I agree whole heartedly with you regarding the need to verify income. That's not the "beef" here so to speak. Like I said before, I've already complied with the FR but I question the method. I don't just look at attaining credit anymore the way I used to. When I apply for a card, it is because financially it is the right move for me to get to where I want to be FICO wise and financially. When I take a hard hit on my credit file for a card, a lot of thought went into it so I don't take lightly the process... as I believe a lot of people here do. So to have to use a debit card or credit card in the event that my Amex card has been suspended do to some type of review is a little preposterous. This is IMO a exercise that should take place before approving the card. I look at credit cards/charge cards as a type of relationship between me and the company I've chosen to give my business. I have an obligation to pay for the charges I make and the financing company had an obiligation to make good on my signature if I keep my end of the bargain. All this "contract issue" should take place before the issuance of the card or credit not after... (unless you have given the creditor a reason to be wary) Which in this case I have not. Not angry or even frustrated.... I'm again "just sayin"
