Got the Amex FR Call :(

[sdchrgrboy]

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@Falere wrote:

Someone correct me if I'm wrong, but every poster I remember that complied with the request had their limits left alone or lowered; I don't recall any closures.  Personally, I find what they're asking for to be quite invasive but to each their own.

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Why is it invasive? They are lending you credit and want to protect thier interests. Nothing wrong with that.  I have had a  Gold Card and TE card since '05, In 2014 I ran over $35k in 2 months which was unusual for them. It was all reimbursible business expenses and I was trying to rack up points for airfare for a trip. I went through the FR and sent them want they wanted. Why, because I have nothing to hide and I don't exagerate my income. I just recently applied for a BCE to replace the TE and was approved for $23k, my TE was only $8k.  So I don't know why people are so afraid of a FR.  Remember no income verification mortages?  Try getting one now without proving your income.  

[ibmrad7]

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@Falere wrote:

Someone correct me if I'm wrong, but every poster I remember that complied with the request had their limits left alone or lowered; I don't recall any closures.  Personally, I find what they're asking for to be quite invasive but to each their own.

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 What could be more invasive than running your Credit Report? Simple rule is don't put something on your application that you can't prove. They are lending you, it only makes sense to confirm applicants income. Would you lend someone 100 bucks if you know they only make 10 bucks? (Just an example)

[UncleB]

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@sdchrgrboy wrote:

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@Falere wrote:

Someone correct me if I'm wrong, but every poster I remember that complied with the request had their limits left alone or lowered; I don't recall any closures.  Personally, I find what they're asking for to be quite invasive but to each their own.

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Why is it invasive? They are lending you credit and want to protect thier interests. Nothing wrong with that.  I have had a  Gold Card and TE card since '05, In 2014 I ran over $35k in 2 months which was unusual for them. It was all reimbursible business expenses and I was trying to rack up points for airfare for a trip. I went through the FR and sent them want they wanted. Why, because I have nothing to hide and I don't exagerate my income. I just recently applied for a BCE to replace the TE and was approved for $23k, my TE was only $8k.  So I don't know why people are so afraid of a FR.  Remember no income verification mortages?  Try getting one now without proving your income.  

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I'm not pro or con, but to answer your question some people (but not all) feel it's invasive since the tax transcript has much more information than simply your income.

When Amex calls for an FR, folks just have to do what's right for them; there's no 'one-size-fits-all' answer. 

It's quite subjective as to if it's overly invasive or not. 

[Bman70]

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@ibmrad7 wrote:

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@Falere wrote:

Someone correct me if I'm wrong, but every poster I remember that complied with the request had their limits left alone or lowered; I don't recall any closures.  Personally, I find what they're asking for to be quite invasive but to each their own.

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 What could be more invasive than running your Credit Report? Simple rule is don't put something on your application that you can't prove. They are lending you, it only makes sense to confirm applicants income. Would you lend someone 100 bucks if you know they only make 10 bucks? (Just an example)

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Well, sure, that's the point of the credit check. If they only make $10, but they have a long record that shows they've repeatedly borrowed $100 and paid it back, obviously they're more reliable than someone making $1000 who has 50 open collections.  

[Anonymous]

Everyone's total household income is not documentable. Many people do side jobs which pay in cash. Just tell them that. $20,000 more than what w-2,s show really isn't that much.

[Berk]

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@Anonymous wrote:

Everyone's total household income is not documentable. Many people do side jobs which pay in cash. Just tell them that. $20,000 more than what w-2,s show really isn't that much.

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And which the IRS requires that you report as income. When I filled out my Amex app I had to disclose investments, savings, checking, income, etc., It was by far the most invasive charge/credit card app I had ever filled out. I could have lied every step of the way. An FR is one way for Amex to verify that what you told them is indeed fact. If they like what they see you have no problems. If they don't like what they see then you have problems. I have never been subjected to an FR by Amex. But then again, I was honest from the start. And I ain't no angel. I just know that being fiscally responsible will get you far in this world. And, I expect lenders to be honest with me so at the very least I need to be honest with them. When ever I am asked to update my income for the prior year I always tell the truth. And my income can swing 20-30K from year to year. It has never resulted in a CLD but it has resulted in a CLI less than I requested or a CLI denial.

[Anonymous]

Citi this to me. I provided my tax documents and my card was reinstated following day. Never had any issues since.

[Creditplz]

That's why I always round my income down to the nearest whole number. Sheesh, just send them in and see if they just decrease them, if it's a 60k fluff on a 35k income then you have some talking to do.

[CreditCuriosity]

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@Anonymous wrote:

Everyone's total household income is not documentable. Many people do side jobs which pay in cash. Just tell them that. $20,000 more than what w-2,s show really isn't that much.

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Should be reporting that to the IRS or you might get a nice audit like myself is going through for different reasons.  They aren't fun either, let me tell you that

[Closingracer99]

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@sdchrgrboy wrote:

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@Falere wrote:

Someone correct me if I'm wrong, but every poster I remember that complied with the request had their limits left alone or lowered; I don't recall any closures.  Personally, I find what they're asking for to be quite invasive but to each their own.

---

Why is it invasive? They are lending you credit and want to protect thier interests. Nothing wrong with that.  I have had a  Gold Card and TE card since '05, In 2014 I ran over $35k in 2 months which was unusual for them. It was all reimbursible business expenses and I was trying to rack up points for airfare for a trip. I went through the FR and sent them want they wanted. Why, because I have nothing to hide and I don't exagerate my income. I just recently applied for a BCE to replace the TE and was approved for $23k, my TE was only $8k.  So I don't know why people are so afraid of a FR.  Remember no income verification mortages?  Try getting one now without proving your income.  

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It is invasive considering there is other ways to prove income without using the Tax income form..... I gone through it as well since I figured why not but still found it invasive. Havent really put any spending on my Amex cards until recently and i got FR'ed back in Dec 2014