Help! AmEx Underwriting Review??

[Anonymous]

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@jamesdwi wrote:

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@Anonymous wrote:

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@MyLoFICO wrote:

92K ?  

It could be them wondering what you are doing and maybe trying to get you to use another type of card or raise your limit. 92k, that is insane. 

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For my personal business partially 

I thought about this too because clearly I cannot stay within my limit for SPG but then thought if they were going to raise my limit they would just issue an auto CLI wouldn't they 

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if you provide the requested documentation, and they were satisfied, they would just give you the auto CLI they are feel you are worthy of.  Not sure of AMEX internals but they may need to transfer you to another team to increase CL on the Biz card but i'm sure AMEX values your business and will treat you right, a 1 million a year in card swipes is nothing to sneeze at. 

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Thanks... I hope this is the case and it's for a positive outcome 

If they limited my spend or closed my accounts then I would have to focus only on Ultimate Rewards which isn't the end of the world but I would really like to maximize the SPG while it lasts till 2018 :/

When I can get the nerve to today I will call and find out and report back on this thread 

[Anonymous]

Hello, I spoke with someone from the underwriting department who was collecting information for her colleague who I believe is the "case agent."

She was very nice and said this is for the PRG and because typically when a new charge card opens and it exceeds $50k in spend they want to "reach out to the customer so that they can make sure the spending abilities can be accomodating so as to not embarrass the customer if it gets declined." Well I guess that's one way to sugar-coat "to adjust your spending cieling appropriately based on our assessment of your ability to pay." She said this was nothing negative and that it's because typically a personal charge card does not reach that high in less than one billing cycle and that it's very normal to receive such outreach.

She asked a bunch of questions about my spending patterns every month and my income. She said it was fine to have mixed spend for business and personal on the personal account, and did not mention once the idea of moving some of my spend to a business card. They asked for last three months of bank statements, and then provided me with an online portal to upload them. She then said that the case agent would get back to me in around four buisness days. She also wrote down what my ideal cieling would be for the PRG. 

Hopefully this is not bad news and I can keep doing business with AmEx. I will keep you posted once I hear back from the case agent as I just uploaded the files they requested. 

[CreditCuriosity]

Thanks for the info..  As long as the last 3 months bank statements support your spending you should be good to go it appears.

[Anonymous]

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@CreditCuriousity wrote:

Thanks for the info..  As long as the last 3 months bank statements support your spending you should be good to go it appears.

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do you know what they specifically look at in these statements? hopefully it's not just the ending balance but the total amount deposited and subtracted? and any idea what these numbers they prefer to be in relation to CL

[CreditCuriosity]

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@Anonymous wrote:

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@CreditCuriousity wrote:

Thanks for the info..  As long as the last 3 months bank statements support your spending you should be good to go it appears.

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do you know what they specifically look at in these statements? hopefully it's not just the ending balance but the total amount deposited and subtracted? and any idea what these numbers they prefer to be in relation to CL

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Just assume they are looking for a steady pattern of deposits and that deposits are greater than withdrawls over the three month period of time.  Probably amount of deposits to justify you spending.  I can only speculate, but makes sense to me.

[sjt]

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@OmarGB9 wrote:
Holy **** that is a ton of spend! May I ask, is that personal, or business spend? Because if you're running business expenses through your personal cards, that is a big no no with Amex.

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Running business expenses throught your personal Amex is ok.

[Anonymous]

Update - finally talked to the agent who is in charge of the case.

He reviewed my bank statements and then asked to see my last year's tax returns. I declined. He said they would have to put a spending limit on the card and if I wanted to ever raise it, I can give him a call directly and send him my tax information, but without the tax info, he could only set it to $48,000.

I said that's fine -- I'd rather not have to jump through hoops. So, now my online account shows credit limit of $48k instead of NPSL. They sent me an email to follow up. "We are writing to you today because we have taken an action on your account and wanted you to be aware of this change as soon as possible. We have placed a spending limit of $48,000.00 on your account."

Anyone else have to go through this? Apparently it triggers when you charge over $50k within a billing cycle...

[Anonymous]

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@Anonymous wrote:

Update - finally talked to the agent who is in charge of the case.

He reviewed my bank statements and then asked to see my last year's tax returns. I declined. He said they would have to put a spending limit on the card and if I wanted to ever raise it, I can give him a call directly and send him my tax information, but without the tax info, he could only set it to $48,000.

I said that's fine -- I'd rather not have to jump through hoops. So, now my online account shows credit limit of $48k instead of NPSL. They sent me an email to follow up. "We are writing to you today because we have taken an action on your account and wanted you to be aware of this change as soon as possible. We have placed a spending limit of $48,000.00 on your account."

Anyone else have to go through this? Apparently it triggers when you charge over $50k within a billing cycle...

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Thanks for the update! Sorry they're putting a hard limit on the card, but at least they're keeping it at 48k - could've been alot worse.

[Anonymous]

Smaller update to my earlier update... I used the "check spending ability tool" and entered $50k just to see what would happen and it said Approved. My balance was $82 at the time with $47k and change as the available remaining credit in light of my new CL. So I guess it would let me go over by a small portion? My SPG CL is 30k but it lets me get to $49,999 without a decline; not sure if this charge card CL operates the same way.

[Loquat]

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@Anonymous wrote:

Update - finally talked to the agent who is in charge of the case.

He reviewed my bank statements and then asked to see my last year's tax returns. I declined. He said they would have to put a spending limit on the card and if I wanted to ever raise it, I can give him a call directly and send him my tax information, but without the tax info, he could only set it to $48,000.

I said that's fine -- I'd rather not have to jump through hoops. So, now my online account shows credit limit of $48k instead of NPSL. They sent me an email to follow up. "We are writing to you today because we have taken an action on your account and wanted you to be aware of this change as soon as possible. We have placed a spending limit of $48,000.00 on your account."

Anyone else have to go through this? Apparently it triggers when you charge over $50k within a billing cycle...

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Good to hear you're still in business and your accounts are in tact.