Amex financial review!

[purebulldogs]

My charges are suspended. They want me to do the tax form. I was honest on everything so hopefully it's smooth and easy. 

For those that have been through it how long did it take? 

I did some home repairs and tried to put 10k on my gold card but they declined and suspended charges. Ended up putting it on capital one. 

Curious how the process went?

Forgot to mention, no negatives in credit reports and very little debt. 

[Credit12Fico]

Was your pay over time greater than or less than 10K?

[purebulldogs]

It was less. The most I spent before at one time was 3k and my monthly spend average was usually around 3k so it's understandable they are asking for it. 

My only complaint is they block the entire card. I wish they would allow a much lower amount, such as if I was out of town and needed a hotel etc. 

[C6]

I'd just be happy to use Capitol One or any card for that matter and put the Amex in the shredder. 

[SouthJamaica]

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@C6 wrote:

I'd just be happy to use Capitol One or any card for that matter and put the Amex in the shredder. 

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Me too.

[FinStar]

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@purebulldogs wrote:

It was less. The most I spent before at one time was 3k and my monthly spend average was usually around 3k so it's understandable they are asking for it. 

My only complaint is they block the entire card. I wish they would allow a much lower amount, such as if I was out of town and needed a hotel etc. 

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FR timeframes can vary. Anywhere from a couple of weeks to a month in some extreme cases. It just depends on the IRS, the transcripts turnaround timeframe and any additional information they may need from you.

Keep in mind that restricting access is part of any risk mitigation process. This would be the same with any other financial institution that may restrict or freeze any given account(s). On the upside, the account is not closed, but your transactional activities certainly triggered a deeper look. If everything falls in line and they have no additional concerns, then you should be good.

[Credit12Fico]

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@C6 wrote:

I'd just be happy to use Capitol One or any card for that matter and put the Amex in the shredder. 

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[NRB525]

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@C6 wrote:

I'd just be happy to use Capitol One or any card for that matter and put the Amex in the shredder. 

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I'm hoping you mean a metaphorical shredder. The AMEX Gold card is not plastic.  

[babygirl1256]

@purebulldogs  Gosh, sorry that happened to you but I've experienced it also . . . Amex is strange and they seem to want you to "check spending power" on large purchases. On March 13, 2022, I checked my spending power for $25k and it was approved, but I didn't charge anything. Two weeks later, on March 31st, I attended an equipment auction and I tried to charge $10k on my Amex Business Platinum but it was declined . . . not only was I upset but really embarrassed, so I just used my NFCU personal card. When I called them, I was told the spending power approval is only for 48 hours and can change thereafter. They also told me that you have to make large charges and pay the balance off to build a buying and paying history . . . so I'm not too pleased with the business card as of now and haven't had any problems with my personal cards except they have denied credit limit increases. Hang in there as the process should improve as we buy and pay!!! 

[Shooting-For-800]

This has always bothered me.

Just state a credit line and make exceptions when approved.

I charge more than my pay over time every month always worried about a decline.