I think I'm getting AMEX FR'd?

[andre181]

So I checked my CR today (like I do everyday), but I looked at my soft inq's today.

On 11/24/10, "American Express Account Review" softed me. All of the other softs from Amex came from "American Express 2" and "AMEX-Serviced by CIC". The last soft was on 10/27/10.

Just recently I used my Zync at Walmart, incidently, it was 11/23/10, the day before this soft from Account Review. That walmart purchase was the last I made with the Zync.

I have also opened 2 new CC accounts in Nov. In Dec. or Jan., 1 more new CC will start reporting (was just approved for US Bank Flexperks)

And to top it off, I charged ~$675 on my FNBO card and $520 on my Barclaycard this month, but so far neither have reported for this month yet. I will not be able PIF these, but they should be paid by Feb. As of this moment, I am only revolving $99 according to my CR.

Tomorrow I'm going to pay my cell phone bill ($129) with the Zync just to see if it goes through.

If I am being FR'd and do not send in the forms and just PIF and close, will I be able to get an Amex in the future?

I'm scared!!!

[Creditaddict]

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@andre181 wrote:

So I checked my CR today (like I do everyday), but I looked at my soft inq's today.

On 11/24/10, "American Express Account Review" softed me. All of the other softs from Amex came from "American Express 2" and "AMEX-Serviced by CIC". The last soft was on 10/27/10.

Just recently I used my Zync at Walmart, incidently, it was 11/23/10, the day before this soft from Account Review. That walmart purchase was the last I made with the Zync.

I have also opened 2 new CC accounts in Nov. In Dec. or Jan., 1 more new CC will start reporting (was just approved for US Bank Flexperks)

And to top it off, I charged ~$675 on my FNBO card and $520 on my Barclaycard this month, but so far neither have reported for this month yet. I will not be able PIF these, but they should be paid by Feb. As of this moment, I am only revolving $99 according to my CR.

Tomorrow I'm going to pay my cell phone bill ($129) with the Zync just to see if it goes through.

If I am being FR'd and do not send in the forms and just PIF and close, will I be able to get an Amex in the future?

I'm scared!!!

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I have always seen the softs as "Amex financial review" I would not worry about it.

but to answer your question, you can pay and close and get cards again later down the road but it is very likely when new accounts are opened, they will want FR right away before use of cards

[Anonymous]

scared? tell me you're joking. I have my Amex Delta and they soft me once or twice a month and who cares.. All the cards that i've collected over the years have been to be backups for my Amex for when they send me permission for my tax returns.

[andre181]

creditaddict, thanks that makes me feel better. 

jahmal, lol! I feel the same way, gotta have as many backups as I can!

I really don't want to loose this card or get in AMEX's bad graces. I just called and payed my phone bill over the phone and it went through so I'm thinking everything is all good. 

False alarm, crisis averted! 

[Red1Blue]

Dont worry too much about Amex FR. Use the card wisely and keep balances low and try to pay off the balances on the card before the statement cuts so they balance reported on CR's is low. Even if you get FR so what. They look at your tax returns and adjust your credit limit. Nothing to scared about. I was going to close amex accounts but I decided, I'll give them my reports. I came out fine from their FR.

[Anonymous]

Why do you guys worry about this company so much?  To me it does not make any sense, you can't use your card any where you want  without getting the stupid FR, just close the account and go to another ccc or credit unions. Much more better and less worries .

[ficonightmare]

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@Anonymous wrote:

Why do you guys worry about this company so much?  To me it does not make any sense, you can't use your card any where you want  without getting the stupid FR, just close the account and go to another ccc or credit unions. Much more better and less worries .

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Not all of us worry about it. If I wanna use the card, I'll use it anywhere I want. Have had accounts on and off with them since 1995. Never heard of an FR until joining this forum.

Have been declined once a few years ago, but called and they released it.

I think the issue is there's no rhyme or reason with AMEX. You never know what can trigger anything with them.

But like concorduser said "so what, they look at your tax returns and adjust your CL". No big deal.

Unless of course, someone lies on their app.

[Anonymous]

And what is the big deal about an FR?  You report a certain annual income truthfully and the documents they ask for (tax summary, pay stubs, whatever) will show exactly that.  You PIF on time each month.  The only reason I personally would sweat a FR is if I lied about my income when I applied for Am Ex, but I didn't,

[haulingthescoreup]

It's still a pain to go through, even when you are honest on your app. You're talking about a lot of digging up of records and faxing back and forth, and in the meantime your card is frozen.

And do you really want a bank to have access to your income tax returns, listing all your deductions, your medical expenses, your charities, etc etc?

I'm perfectly happy with sending pay stubs if I have to, but I'm not giving anyone copies of my taxes. It's none of their business, IMO. If a lender feels that it needs to intrude that far into my private life, I'll be happy to move on.

Anyway, OP, I get softed by AmEx from three different sources at least, including one that says something or other about financial review. Never had a problem with them.

[Anonymous]

Hauling . . . I think we're seeing the beginning of a new era in credit (and I've been around for quite a while.)  I see every credit card company doing soft pulls monthly or fortnightly by 2015 and not awarding credit limits to customers to hedge their bets.  This would allow the banks to reflect the fluctuations in the financial markets (i.e., the cost of their borrowing) as well as the individual spending patterns of their credit card customers.  Increasingly sophisticated algorithms would assign risk levels that could fluctuate on a daily basis (i.e. tag someone in the middle of a spending spree.)  Certain customers with unspecified risks might need to submit certain documents in advance of an offer of credit.  A few banks may drag their feet on this but they would eventually come on board.