Another Amex Financial review thread

[UncleB]

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@Loquat wrote:

I know it’s their money, their choice but I still don’t understand why Amex cares.  It’s a charge card, you can’t revolve, and you’re getting your $$$ every month. 

Thankfully I don’t have any lenders in my profile that has cared as of yet.  My wife is AU on my Amazon card and she is the only one who puts swipes on there as I have never my own card. 

Same for me.  I’m AU on my wife’s Uber Visa as I burned Barclays and can’t get one of my own. I’m the only one who swipes the card; my wife never uses hers.  

Its not to to say I won’t have an issue but haven’t as of yet.  

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This is my take as well... as long as the spend by the AU is consistent with the primary's income and resources I don't see what the big deal is, since the primary account holder is the one responsible for paying the bill anyway.

On the other hand, if there's a situation where the primary's income is $50k and the AU is spending $10k each month, that's a different story.  That's often not the case, though, at least from what I understand.

With my PRG my AU usually charges more than I do, but the spend levels are so modest that I don't expect to ever be on Amex's radar for this reason.  If I'm mistaken that's fine... it will just mean Amex and I aren't a match.  I'm not going to jump through hoops out of fear of 'upsetting' an issuer over something that's IMO quite ridiculous.

[Anonymous]

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@Loquat wrote:

I know it’s their money, their choice but I still don’t understand why Amex cares.  It’s a charge card, you can’t revolve, and you’re getting your $$$ every month. 

Thankfully I don’t have any lenders in my profile that has cared as of yet.  My wife is AU on my Amazon card and she is the only one who puts swipes on there as I have never my own card. 

 .  

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I assume that this is all just based on data.    Amex have noticed that where AU spend is in some way significant compared to Basic Member (% of use, $ amount, % of declared income etc) AND other factors that we don't know, there is some increased risk of default.   So some people are going to get FRd, and are only told part of the reason.

Just like credit scores and insurance, the companies don't need an explanation, correlation is sufficient....

[Anonymous]

A quick update.

I never signed the tax forms. So they evaluated my cards and did not lower my credit limit on my credit cards. The only restriction they put was on my Platinum card, they set a credit limit of 10k, which is ok with me. On average i charged about 4k to 5k every month on my platinum card.

I guess the financial review from Amex is not as bad as many people think.

Thank you for all of your feedback.

[Anonymous]

No she has never burned amex in the past. She actually has her own amex credit cards.

[Anonymous]

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@Loquat wrote:

I know it’s their money, their choice but I still don’t understand why Amex cares.  It’s a charge card, you can’t revolve, and you’re getting your $$$ every month. 

Thankfully I don’t have any lenders in my profile that has cared as of yet.  My wife is AU on my Amazon card and she is the only one who puts swipes on there as I have never my own card. 

Same for me.  I’m AU on my wife’s Uber Visa as I burned Barclays and can’t get one of my own. I’m the only one who swipes the card; my wife never uses hers.  

Its not to to say I won’t have an issue but haven’t as of yet.  

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Amex is one of the few issuers that gives AUs unique card numbers, so they can tell if a swipe is done by an AU or not, and which one.  Most other issuers issue cards to AUs that have the same number, expiration and CVV# as the primary card... only the name is different.  So when your wife uses your Amazon, or you use her Uber card, they just see it as a swipe, regardless of who's card was used.

[Turbobuick]

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@Anonymous wrote:
The reason i was given was that my authorized user was doing 90% of the charges on the account. My wife is the authorized user and she does all the shopping, bills etc.

I have 3 credit cards with them. Every Day Preferred with 15k credit line, an amex blue cash with 5k and amex Platinum card.

What i found weird is that i can still use my cards and my cards will not be closed even if i dont send them the signed tax release form.

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My wife always users her card way more than me. The Every Day card is a grocery card. I would think it's not abnormal for females to use it more for grocery shopping.... as a whole. Amex had a bonus grocery deal recently and I couldn't add it to her card, so I gave her my card my month ago. I think she's just using mine all the time now. I don't need it.