Amex financial review

[Anonymous]

This is one of those situations where the law vs policy differ. Legally she didn't do anything wrong since she presumably has access to your income which means she actually under-reported but since you don't file jointly, that income won't be visible to AMEX, so there's no way for them to actually verify it. 

[Anonymous]

So do you think because they can't verify that it will end up being canceled?

[Anonymous]

---

@Anonymous wrote:

So do you think because they can't verify that it will end up being canceled?

---

Its a possibility. I mean she has some verifiable income so I doubt it will get that far, especially since you already pointed out that your income was included, what's more likely is a fixed limit as has been mentioned upthread. 

[coldfusion]

---

@Anonymous wrote:

So do you think because they can't verify that it will end up being canceled?

---

If they decide to cancel at this point IMO it would more likely be tied to their standard practice when a cardholder overstates their income.  If they decided to perform a full Financial Review they will want to look at a lot more than her W2 forms from the last 2 years. Depending upon how you co-mingle your assets it may be a short discovery process if they decide to go that route. 

Did they use the term "Financial Review" to explain the process when they reached out to her?

[Anonymous]

Yes they stated they were doing a financial review and they sent her something to fill out so Amex can reach out to irs for her w2. They said the reason for the review is that the authorized user was doing most of the spending.

---

@coldfusion wrote:

---

@Anonymous wrote:

So do you think because they can't verify that it will end up being canceled?

---

If they decide to cancel at this point IMO it would more likely be tied to their standard practice when a cardholder overstates their income.  If they decided to perform a full Financial Review they will want to look at a lot more than her W2 forms from the last 2 years. Depending upon how you co-mingle your assets it may be a short discovery process if they decide to go that route. 

Did they use the term "Financial Review" to explain the process when they reached out to her?

---

[Anonymous]

The lady also asked for her current job what she makes now and last years income along with our combined income she said although she's notating our combined income they're coming off of last year primarily (because we didn't file together)

[Brian_Earl_Spilner]

When I spoke to an underwriter last year during a recon, I was told I can put household income down on the form. The reason for fr  being the AU uses the account more is a new one to me.

[longtimelurker]

---

@Brian_Earl_Spilner wrote:

 The reason for fr  being the AU uses the account more is a new one to me.

---

That has been mentioned (along with lots of other things!) as a possible trigger in the past.   Reverse engineering, I guess the concern could be that an AU, who might not otherwise be able to get a card, is now the main spender, might be going on a major spending spree that the account owner might not be able to cover.

But as with all FR stories, who knows!

[Brian_Earl_Spilner]

---

@longtimelurker wrote:

---

@Brian_Earl_Spilner wrote:

 The reason for fr  being the AU uses the account more is a new one to me.

---

That has been mentioned (along with lots of other things!) as a possible trigger in the past.   Reverse engineering, I guess the concern could be that an AU, who might not otherwise be able to get a card, is now the main spender, might be going on a major spending spree that the account owner might not be able to cover.

But as with all FR stories, who knows!

---

I get that. Maybe they want to make sure she's not selling an AU slot. Regardless, I don't think it'll be an issue once they know it's the spouse.

[Kforce]

---

@Brian_Earl_Spilner wrote:

When I spoke to an underwriter last year during a recon, I was told I can put household income down on the form. The reason for fr  being the AU uses the account more is a new one to me.

---

Not with an Amex card. (However)

My wife and kids spend many times my use on AU cards.

Not sure I have ever been close!  

I thought that is why they offer AU cards, more spend/swipes.

Another non possitive feature of Amex