@Walt_K wrote:I don't think it is that odd for them to ask for information after an application. Having a revolving line of credit is a fluid transaction. It is an ongoing relationship and things change. It is not strange for a lender to approve someone, and then sometime later decide that they would like to do additional homework. That said, I think the reason this irks so many people that have gone through it is that there are better ways to handle things than shutting down all accounts without notice. It's not clear why they can't put a hard cap on your accounts, call you to let you know what is going on, let you continue charging privileges if you PIF, and reduce the amount to something reasonable, etc. So in that sense, I agree that the way they handle it is abnormal or there could be better ways to go about it. But I don't think the problem lies in them not doing it upfront. For me, at least, it would be the manner in which they go about it when it happens.
I see your point and don't disagree with credit being fluid but being FR'd within a week of approval isn't fluid, it's not grading the paper before issuing the grade so to speak.
I can understand needing a reaffirmation of income and such after seeing many apps or large increases in credit debt. Of course.
And to the point that it's not abnormal, then I think you would see many more post like this from other lenders: Citi - Discover- Chase - etc... etc... We don't see that here... it's very rarely ever anyone but Amex. I can recall only a couple of post regarding Citi really.
I'm not being argumentive, just calling an apple and apple. 
Starting Score: 642
I tend to wonder what the reaction would be if it was Capital One "requesting" the FR for either their prime cards or for good reason for their rebuilder cards. 
@pipeguy wrote:I tend to wonder what the reaction would be if it was Capital One "requesting" the FR for either their prime cards or for good reason for their rebuilder cards.
"close the account"
@pipeguy wrote:I tend to wonder what the reaction would be if it was Capital One "requesting" the FR for either their prime cards or for good reason for their rebuilder cards.
If I want the card, I comply. If not, I don't...simple as that. I personally have no problem giving them whatever they want when I want the privilege of using their card. It's important that we all remember that their card = THEIR guidelines within the law. They are under no obligation to provide credit if they deem the applicant or card holder unworthy of receiving it. For AMEX, FR is the chosen tool of the trade.
Like I said, this is a personal choice...but it's not a choice without consequences and I don't blame lenders for shutting down accounts if a card holder refuses to verify income information in a manner specified by the lender. I also don't blame card holders for refusing to comply with FR requests and deducing that owning the card isn't worth compliance. As many have stated, there are other prime fish in the sea
@CreditCrusader wrote:
@pipeguy wrote:I tend to wonder what the reaction would be if it was Capital One "requesting" the FR for either their prime cards or for good reason for their rebuilder cards.
If I want the card, I comply. If not, I don't...simple as that. I personally have no problem giving them whatever they want when I want the privilege of using their card. It's important that we all remember that their card = THEIR guidelines within the law. They are under no obligation to provide credit if they deem the applicant or card holder unworthy of receiving it. For AMEX, FR is the chosen tool of the trade.
Like I said, this is a personal choice...but it's not a choice without consequences and I don't blame lenders for shutting down accounts if a card holder refuses to verify income information in a manner specified by the lender. I also don't blame card holders for refusing to comply with FR requests and deducing that owning the card isn't worth compliance. As many have stated, there are other prime fish in the sea
Good response!
@pipeguy wrote:I tend to wonder what the reaction would be if it was Capital One "requesting" the FR for either their prime cards or for good reason for their rebuilder cards.
Ha! "You seriously expect to see tax papers on my card with a limit under1K that you wont raise? Hahahahahahahaha... take care now."
<The accounts may not be showing yet but they can still see the inquiries. >
I have gotten 3 Amex products in the 15 months (one charge and 2 revolving which I put through over $90K on last year, personal and bus. travel). Plus another 5 new cards elsewhere. I have not added considerably to my total debt, all but one of the new cards have $0 balance, and I pay Amex before closing day. They soft me at least every other month, but usually it's every month. I do notice that they soft me a day after a new INQ is posted on my CR. In fact recently, not only Amex, but Citi and Chase softed my Exp after a March INQ was reported.
Your payment history with them could be flawless, but if they see you building up your Utilization elsewhere, or engaging in whatever their risk model says is bad behavior, then they FR. It is a multi-faceted model, so while income is what people focus on, it's also other things they see as well that can trigger a FR.
I haven't had a late for 7 years. If they FR me tomorrow, fine. If they ever leave me, fine again. I have some very nice alternate prime cards waiting to take their place.
@armywifey85 wrote:Why don't they just FR during the application?
Probably because then no one would apply. Seriously, who would apply for a CC if you had to provide 4 years of tax returns?! That's like getting a mortgage. 
True 