It happened!! 4506 T Request-UPDATE

[DI]

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@tinuviel wrote:

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@DI wrote:

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@wollepopolle wrote:

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DI wrote: I only used mines for grocery and paid in full each month, too.   Again, anyone is susceptible to go through an F/R.    I noticed they updated my employer information.  I relocated and changed jobs, and had not updated that information.

I believe that. I guess I could be using my Amex for 40 years and show responsible behavior, and they'd still want to FR me.

But what does FR really prove? The potential to pay back on paper. There are examples of people making a lot of money and running into trouble. Someone can have a small income and be a more reliable repayer of debt than someone who earns a boatload of money.

Your decision to reopen before ten years (in case they close your accounts) is smart as it restores on your reports all that you're after. You'd be losing little.My guess is that you'll keep your accounts, though.

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There are two things I plan to do incase the accounts are close.  I will keep a copy of my EX report to have the account number, and keep one card.  So, maybe 5-10 years from now, if I reapply, I won't have any problems getting a new account backdated if it doesn't happen automatically.    I got what I wanted out of AMEX. That was getting my accounts to show 1997 on my credit reports.  Less cards means I can charge more on cards that appreciate my business. 

Thanks for all the comments you all. 

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Good plan, but I still think that you're going to be fine, FWIW. I'm keeping my fingers crossed for you.

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Thanks!  She also had the nerves to ask me if I filed my 2010 taxes.  I would not have taken that from any other bank.  The backdating saved her from a heated conversation. 

[android01]

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@tinuviel wrote:

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@Watchmann wrote:

Good luck with the F/R.  I think this is a good example of why one's policy should be to have as little interaction with AMEX as possible.  Unless it is directly related to a problem charge or general question about the account the best policy is to just stay quiet.  That's my course of action, anyway,  I haven't talked to AMEX in years, asked for CLI or product change, and have no intention of doing so unless something odd pops up with my account.  As the Japanese saying goes, "the nail that sticks up gets hammered down", or something like that.  Poke your head (nail) up and AMEX's big hammer may come down.

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Which is why, grateful as I am to have been given a second chance with them, they'll never be #1 in my wallet. I got the account because of the backdating and am using it gently, just a few smallish purchases a month.

It's too bad, really. I understand that they have a spend-centric business model, but I'm afraid that if I do any serious spending with them that, as you've said, the hammer may come down. I never worry about this with Cap1... I spend a lot more with their card, get rewards, PIF, and they leave me alone. People love to hate on Cap1, but at least I never worry about being treated like a potential criminal (ie: DI's comment that Amex allued that this was more serious than an IRS audit) for using their card. With Amex, I'm always thinking "is this purchase going to upset them?" Too large a purchase? Too small a purchase? Out of pattern -- heck, I'm just starting to establish a pattern! Frankly, it's by far the most stressful card in my wallet. And yet, it holds value for me at this point because of the backdating and the fact that it's my first prime card in many years. I guess at this point I have something of a love/hate relationship with Amex.

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I agree, and how silly is that!  When I apply for a credit card and am approved for a certain amount of money they are willing to lend me, I don't expect to ever have to worry about whether the purchase is too large, small or out of pattern.  They approved me - for XXX amount - and I would think they would expect me to use it how I see fit.  

The topic of AMEX and their F/R's begs another question:

Would you submit to a F/R via 4506-T (IRS review) at application time - before they granted you a credit card?  Whether it is AMEX or any credit card issuer?

[Anonymous]

The OP notes "I noticed they updated my employer information.  I relocated and changed jobs, and had not updated that information."  Do you think that might have been a reason for the F/R?

Also, you should not be insulted when asked if you filed your 2010 taxes yet.  There are several hundred thousands of taxpayers who did not file last April but rather requested an extension.  Because these taxpayers generally make more money than the average taxpayer (and likely have Am Ex cards), it is probably a reasonable question to ask.

[steffiejoe]

To answer that question( I know you were not asking me !!) The only AMEX card I feel worthy of providing a 4506 T is the Black Card. The rest of the cards I would only provide my check stubs.

[Awesomely]

What a joke, if I ever get the call I will cancel the cards immediately. People criticize Discover but American Express is the joke company.

[clocktick]

I also wouldn't be offended that she asked if you filed your 2010 ones yet.  I had an extension on my 2009 ones (although, not over a year). 

[drsmith]

I'm pro Amex and would submit to a FR if they asked. It's intrusive, and I'm young and naive but it is what it is. AmEx in my mind is the company to be with. At my car rental location, I've only ever had Amex CSR call me for their customers. I've never had someone from BoA, Chase, USAA, or Citi call me up and try to work out an upgrade for a customer.

[Uborrow-Upay]

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android01 wrote:  The topic of AMEX and their F/R's begs another question:

Would you submit to a F/R via 4506-T (IRS review) at application time - before they granted you a credit card?  Whether it is AMEX or any credit card issuer?

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That's the meat of this discussion, IMO.

If I wanted that card badly enough, then yes. After the fact, never, ever.  The IRS info, by law, is meant for the IRS alone.  That seems to have been perverted over the years, just like the use of SSNs.

The second-guessing by AMEX is what bothers most folks, including myself.  The first time any charge I initiate is declined (and I've never had a decline, even in past years), the AMEX card is history.

You either lend the money or you don't. 

And I don't need anyone else watching over my shoulder...I'm already married. 

[Anonymous]

As usual I agree with Drsmith.  +1

[clocktick]

When you apply for an Amex, isn't it HHI?  I would think that would make the request a bit more difficult for some people.  Then are you required to send in the entire household's?