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Another Amex Financial review thread

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Anonymous
Not applicable

Another Amex Financial review thread

Hello,

Today i received the famous amex financial review call. They told me why i was getting FR ans told me to proceed with the tax form within 2 weeks.

What i found strange was that the agent told me i can still use my 3 amex cards , the only restriction they placed was on my platinum card i currently have a 1k balance on my platinum card and they told me i can only charge 1k dollars more. Also they told me if i dont fax my tax information my cards wont get closed but they will be re evaluated for a possible lower credit line all thanks to my excellent credit history with amex.

Has anybody been told the same thing they told me?

I appreciate any feedback. Thanks.
Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: Another Amex Financial review thread

What do you think prompted the FR call?  Did you request a large CLI lately, have excessive utilization for an extended period of time, change your spend/payment patterns, or something else?  I'm assuming a negative item wasn't introduced to your credit report?  Did they give a reason as to why they were requesting IV? 

 

I've heard of this happening when someone requests a large CLI, but not from just normal every day account activity, so I'm curious to hear more about why you think this happened.

Message 2 of 16
Anonymous
Not applicable

Re: Another Amex Financial review thread

+1

 

 

Message 3 of 16
Anonymous
Not applicable

Re: Another Amex Financial review thread

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.
Message 4 of 16
FinStar
Moderator Emeritus

Re: Another Amex Financial review thread

Depending on the type of FR, some accounts can still remain open or under a restricted status.

But, just because the available credit may display as "unrestricted" it doesn't mean that all charges will be approved. It's likely, until the FR has concluded, that some transactions may be declined. I'd tread lightly and wait until it's all finalized.
Message 5 of 16
UncleB
Credit Mentor

Re: Another Amex Financial review thread


@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.

While I can see why this would raise a flag in some circumstances, it's never really made sense to me assuming the charges are run-of-the-mill.  It can't be that unusual for a spouse/AU to do the bulk of the household charging.

 

@Anonymous, hopefully the process will be over quickly and your charging privileges will be restored to normal.

Message 6 of 16
NRB525
Super Contributor

Re: Another Amex Financial review thread

With many of these "I wonder why" threads, to the user, and to us who read the back story, it can make sense.

 

Does AMEX know that this AU is the DW? AMEX's concern would be that someone poses as having credit, then the AU basically adopts the available credit as their own when the AU is a higher risk. Thus, no reason to shut down the cards yet, but AMEX still wants to understand the situation.

 

Agreed, should tread lightly. And ask whether DW needs to get her own AMEX cards? Nothing wrong with building up a credit profile for each adult. I know I like my own credit history / profile. And those SUB can be nice.

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Message 7 of 16
UpperNwGuy
Valued Contributor

Re: Another Amex Financial review thread

DW needs to get some cards in her own name.  There is no downside to her doing that.

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Message 8 of 16
Loquat
Moderator Emeritus

Re: Another Amex Financial review thread

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.  

Message 9 of 16
Brian_Earl_Spilner
Credit Mentor

Re: Another Amex Financial review thread

Has your wife burned amex in the past? 

    
Message 10 of 16
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