Amex financial review

[Anonymous]

Hey y'all. So my wife opened a Platinum card and made me as a authorized user. I've been doing 90% of the payments and probably 70% of the spending on the card and we got hit with a Financial review.

Long story short when she created the account she made her income 55-60k when her income is 32-38k. (Yes I know dumb mistake) as I'm sure nobody here works in the department, but in y'all's opinion are we going to get canceled and black listed. (She has to send in w2 and we didn't file jointly)

Thank you.

[longtimelurker]

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@Anonymous wrote:

Hey y'all. So my wife opened a Platinum card and made me as a authorized user. I've been doing 90% of the payments and probably 70% of the spending on the card and we got hit with a Financial review.

Long story short when she created the account she made her income 55-60k when her income is 32-38k. (Yes I know dumb mistake) as I'm sure nobody here works in the department, but in y'all's opinion are we going to get canceled and black listed. (She has to send in w2 and we didn't file jointly)

Thank you.

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IMO, unless there is a great believable reason for the difference, I would just not send in the W2.   Your card will be cancelled but possibly not blacklisted.   If she applies again at some point, she will almost certainly be asked for the documents, but at that stage (some time from now!) she can supply an accurate income figure on her app.

There is a difference between just not going through the process (some people feel it is too intrusive for example) vs submitting documentation showing that the income was way off.

[Jnbmom]

@Anonymous 

That is why you should always be truthful and able to prove your income if asked .

Unfortunately that big of a discrepancy I would imagine they are going to shut it down . Not sure if you can add your income and produce proof that she was using HH income ?

[FinStar]

It can have a couple outcomes depending on the severity of the FR.  If she doesn't comply with the request of such documents (her decision of course), then the accounts will be closed.  Future AmEx applications will prompt for POI before any accounts can be approved.

If she complies with the request, the account can be restricted with a hard limit instead of NPSL.  If there is POT, it will likely be suspended.  Or, if AmEx feels this was an outright falsification of income, exaggerated figure or not (i.e. fraud), they could close the account.

So, it really boils down to who is assigned this particular FR case.

[GatorGuy]

What were you spending each month?

How long was it opened for?

Just trying to add some context for anyone else who comes along. 

[Anonymous]

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@GatorGuy wrote:

What were you spending each month?

How long was it opened for?

Just trying to add some context for anyone else who comes along. 

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3 months

We hit 6k in the 3 months

[Anonymous]

Yeah it was dumb. Together we're about 90k but since she's the main holder I doubt they'll look at that since they want her w2.

the lady said she'd make a note on the account what our combined income was but I doubt that will matter since they don't want my w2

[Anonymous]

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@Jnbmom wrote:

@Anonymous 

That is why you should always be truthful and able to prove your income if asked .

Unfortunately that big of a discrepancy I would imagine they are going to shut it down . Not sure if you can add your income and produce proof that she was using HH income ?

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It was a 3 way call. The lady said she would notate the account what our total income is. (90k) but I doubt they'll take that into consideration since they want her to fill something out so they can look at her w2. They never asked for mine.

[Loquat]

OP I won’t speak about stated income on applications as you’ve already acknowledged such wasn’t the best idea and I don’t want to beat the horse sorta speak.

However I do want to mention (don’t take as fact) that when I joined this here forum some years ago that there was chatter about how Amex doesn’t particularly care for an AU out pacing the primary card holder on charge cards such as the Amex Platinum.

Hopefully others can chime in and speak to this being fact or fiction these days. Just wanted to put it out there just in case you do comply and survive the financial review.

[Anonymous]

Yeah we have the platinum. So who knows. After reading I've found paying your balance in full multiple times a month is a bad idea too.

im over here like what the heck I'm giving you your money.

I'll keep everyone posted though!

im guessing this takes 2 weeks or so.