Impossible AMEX Financial Review

[Anonymous]

Unfortunately, it seems possible that it won't work out, if the FR team are rigid in their impossible requirements.  (I do agree with signing the form allowing them to get your forms, and let the IRS tell them that you have no returns).

My only other suggestion, which might have a very low success, would be to approach the Amex team in your home country and ask for advice.   They MIGHT be able to talk Amex-to-Amex to the US team and explain.

[JonStur]

I would definitely try this route. Try to get internal peer-to-peer assistance.

[FalconSteve]

Why haven't you applied for other cards? I know that a lot of people don't care about maximizing rewards, but I always worry about having a backup cards from another bank on another network. This doesn't even mention benefits for credit score.

I don't know a lot about international people, but normally, I tell people to have at least 2-3 banks.

Good luck with your AmEx FR!

[Anonymous]

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@FalconSteve wrote:

Why haven't you applied for other cards? I know that a lot of people don't care about maximizing rewards, but I always worry about having a backup cards from another bank on another network. This doesn't even mention benefits for credit score.

I don't know a lot about international people, but normally, I tell people to have at least 2-3 banks.

Good luck with your AmEx FR!

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Well, OP has been here less than a year and had no US credit file (Amex Global Transfer being the one way to transfer some credit history from another country).

[FalconSteve]

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@Anonymous wrote:

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@FalconSteve wrote:

Why haven't you applied for other cards? I know that a lot of people don't care about maximizing rewards, but I always worry about having a backup cards from another bank on another network. This doesn't even mention benefits for credit score.

I don't know a lot about international people, but normally, I tell people to have at least 2-3 banks.

Good luck with your AmEx FR!

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Well, OP has been here less than a year and had no US credit file (Amex Global Transfer being the one way to transfer some credit history from another country).

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Is that the only bank that does that? Can OP apply with another bank now? (so at least they have something while they wait for the FR)

Sorry to ask so many questions, they are in a crappy spot, but I want to understand the best I can

[sjt]

I would call them again and make sure they know that your account is a 1) Global Transfer Account 2) that you don't have US tax documents yet 3) offer some sort of bank statements and/or paycheck stubs. If that fails, then contact Executive Office.

[Rebuilder2021]

Has there been any update? I've been wondering what happened!

[AwsiDooger]

American Express likes gamblers. I've been very impressed with them, other than when my Cash Magnet limit got slashed during the peak of the pandemic. Now it's partially recovered.

I'd say your paper trail is overly conventional. 

[xenon3030]

As others mentioned, I would also suggest to apply for a few cards and do not put all your eggs in one basket. I would suggest to open a checking account with e.g. BOA/Chase and apply for CCR, CFF or a few cards that you would like. Note that Chase has 5/24 rule and you may place it in a priority.

In parallel, work with Amex to see whether this issue can get resolved soon. Otherwise, you should possibly wait to file your first tax (maybe early in Feb?) and afterward, show them your tax return. Not sure whether Amex provided any deadline but work with them to provide the needed documents within a reasonable timeline that can also work for you. Filing tax early is not easy, since you require several documents to get mailed to you within January and typically by the end of January you have all documents. Since you are new to the US, you should know that filing tax personally and manually is a huge burden (the forms are way too complicated vs Europe and not sure why!!!) and you should typically buy a software (or use a tax service). You should file both federal and state taxes. 

Anyway, welcome to the US and inform us about this financial review status.

[Anonymous]

Hi guys,

Sorry for the long wait but figured I would post an update. Got the call from Amex today that my account was routed for cancellation. I ended up working with my accountant to provide them with paystubs from one of our US holding companies that we have in our structure, accompanied with some recent bank statements. They were sent for review to an external team which took roughly two months, but they were declined and the account was officially cancelled. According to them it was not sufficient enough and they stood behind their requirement of receiving the IRS filings... which is honestly crazy.

Highly appreciate all the advice given here. I have at this point spoken to pretty much every higher authority person in the department and they understand the context of this bizarre situation... But simply put there is nothing they can do about it. I might still work with my RM to see what they can do but from my experience the cooperation between Amex markets has always been quite scarce (seems like they just have one email/contact person to forward requests to).

The rep that I was assigned was actually quite nice and wellwilling to assist... But seems like they are just extremely limited in what they can and cannot approve. I'll definitely be following up with a letter to corporate. What's probably the most surprising about this however is that even though my accounts were cancelled today, I can immediately re-apply for a new card and get a decision which is not impacted by the review.

I'll wait for a few days for everything to get properly processed (including getting access to the 300.000 MR points which are currently being held hostage in my account) and then make further decisions.