@AverageJoesCredit They would take a whole bunch of documents one I left out that I uploaded because I forgot was my tax return for last year. The email they sent me about what documents to upload was this: I didn't upload all of that just what I said in the post didn't feel the need to go over the top here.
Important Account Information |
Options for Account Review |
Dear Rudy1,
We're writing in regards to your recent request for us to reevaluate the change we made to the limit on your account referenced above. In order to reevaluate this change, we need you to provide current financial documentation of proof of income, proof of financial assets, or both:
Proof of Income
Proof of Financial Assets
Important Notice: Please include income from all sources including employment, retirement, investments, rental properties, etc. Alimony, child support, or separate maintenance need not be revealed if you do not wish to rely upon it.
Methods to send documents:
If you are faxing your documents, please include a cover letter with your name, Card account number, and the total number of pages you are faxing, including the cover page. This is a secure fax line and any information you provide will be treated as strictly confidential. Also, please be aware you must send all documents at the same time.
We will send you a letter with our decision after receiving and reviewing your documents. You can also check to see if your limit has changed by logging onto americanexpress.com and reviewing the Account Home page. Please note, if we do not receive these documents within 15 days of the date of this letter, we will not be able to give your request any further consideration.
If you have questions, please call us at 1-800-842-5303. We are available Monday through Friday from 8:00 am to 12:00 am and Saturday-Sunday from 8:00 am to 11:00 pm Eastern Time.
We appreciate this opportunity to serve you. Thank you for your Card Membership.
Sincerely,
American Express Account Services |
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@NRB525 Exactly! I was happy to proivde documents I don't have anything to hide and it took what maybe 5 minutes out of my day. I am going to garden. Yet I think now that I proivded them with this they can tell I have the ability to pay off all of my credit cards in the situation they were maxed out.
@Gollum wrote:
@Rudy1 wrote:Recently American Express cld me due to inquries I called and they wanted to me submit documents which I did they finally restored my limit partially so my limit is now $5,900 before it was $8900 and they said I will be elligble for a cli in 60 days. It was quick and easy to upload the documents they wanted a paystub, bank statement, and retirement account statement(proof of liquid assets). I am happy they did this an excited for my future with amex.
American Express lowered your credit limit after you provided proof of income. I don't think this bodes well for your "future with amex."
They raised it back they lowered it to $2000 and they said I could upload documents so that they could review the decision they then raised it back to $5900. I was originally at $8900 however the agent I had talked to told me most of the time people do get cli's and more in the future after having this happen and providing documents.
@Trini88 I am excited for my future I personally am choosing to look at the positive side here and I think I can have a good future with Amex especially now that I am gardening.
@DaveInAZ I considered doing that and just closing the account but I decided why not upload documents. The worst thing that could happen is they kept the cl at $2000. I have nothing to hide about my finances. I felt that by upload these documents it may help them get a better understanding of my income. I'm am totally going to cool it on lol/24.
@Rudy1 wrote:Recently American Express cld me due to inquries I called and they wanted to me submit documents which I did they finally restored my limit partially so my limit is now $5,900 before it was $8900 and they said I will be elligble for a cli in 60 days. It was quick and easy to upload the documents they wanted a paystub, bank statement, and retirement account statement(proof of liquid assets). I am happy they did this an excited for my future with amex.
Hi @Rudy1, thanks for letting us know what happened... CLDs are never fun. 
You mention that the CLD was due to inquiries... do you mind sharing (roughly) how many inquiries you have?
I'm glad to hear that after submitting the documents things are now heading in the right direction!
Hey @UncleB! Yeah they aren't fun i'm 26/24. I know I know but about 20 of them fall off next year so it will be better. Also for @AverageJoesCredit I believe this may have been removed but the documents they were taking was this : Proof of Income Your most recent pay stub, W2 form, personal tax returns, or any other documents showing income such as pension payments. Proof of Financial Assets Your most recent personal bank statements (checking, savings, certificates of deposit), personal financial statements (brokerage accounts, etc.) or any other documents that clearly indicate the value of your liquid assets. I shouldn't have included the whole email sorry! I forgot to add to that I also uploaded a tax return.
@Rudy1 wrote:Hey @UncleB! Yeah they aren't fun i'm 26/24. I know I know but about 20 of them fall off next year so it will be better. Also for @AverageJoesCredit I believe this may have been removed but the documents they were taking was this : Proof of Income Your most recent pay stub, W2 form, personal tax returns, or any other documents showing income such as pension payments. Proof of Financial Assets Your most recent personal bank statements (checking, savings, certificates of deposit), personal financial statements (brokerage accounts, etc.) or any other documents that clearly indicate the value of your liquid assets. I shouldn't have included the whole email sorry! I forgot to add to that I also uploaded a tax return.
Thanks again for the data point, @Rudy1. 
It's always easy to share good stuff, but when not-so-good stuff happens it's not nearly as easy to go into the fine details, much less have a back-and-forth discussion about it. I appreciate your being willing to reply to questions and provide the additional details folks have asked about.
I don't recall seeing Amex do a CLD over inquiries in the past (possibly I just missed it before) but they are known to be twitchy at times over stuff that other lenders might not be as concerned about. I used to have a really good APR on my EDP card, but a couple of years ago they raised my APR ~2%. The letter said the increase was due to my credit score, which according to that same letter had dipped into the 740s (gasp!). It's still not a bad APR (15.99%) but the entire exercise was both amusing and annoying at the same time. Come to think of it, that's the only adverse action I've received from any bank since I've had good credit again. Gotta love Amex! 
Nobody here should judge you for the inquiries; I'm sure you had your reasons, and that's really neither here nor there when it comes to this discussion (there are folks around who've run up multiples of what you have... they had their reasons as well). It's somewhat good to know that it took a number a bit larger than the average cardholder will likely have to get their attention, although it's unfortunate that you had to be the one to personally experience the data point first-hand.
As lousy as the whole thing is, I'm also happy to see that Amex was at least willing to have a chat about the situation and they were fine with your providing documentation to get your limit at least somewhat restored. There are some lenders around that would just summarily close the account if they had a concern. For all of Amex's faults, they get a 'kudo' for that.
Thanks again for sharing, and once your HPs age off you'll likely be able to get your credit line back to where it was, and possibly even higher!
@UncleB wrote:
@Rudy1 wrote:Hey @UncleB! Yeah they aren't fun i'm 26/24. I know I know but about 20 of them fall off next year so it will be better. Also for @AverageJoesCredit I believe this may have been removed but the documents they were taking was this : Proof of Income Your most recent pay stub, W2 form, personal tax returns, or any other documents showing income such as pension payments. Proof of Financial Assets Your most recent personal bank statements (checking, savings, certificates of deposit), personal financial statements (brokerage accounts, etc.) or any other documents that clearly indicate the value of your liquid assets. I shouldn't have included the whole email sorry! I forgot to add to that I also uploaded a tax return.
Thanks again for the data point, @Rudy1.
It's always easy to share good stuff, but when not-so-good stuff happens it's not nearly as easy to go into the fine details, much less have a back-and-forth discussion about it. I appreciate your being willing to reply to questions and provide the additional details folks have asked about.
I don't recall seeing Amex do a CLD over inquiries in the past (possibly I just missed it before) but they are known to be twitchy at times over stuff that other lenders might not be as concerned about. I used to have a really good APR on my EDP card, but a couple of years ago they raised my APR ~2%. The letter said the increase was due to my credit score, which according to that same letter had dipped into the 740s (gasp!). It's still not a bad APR (15.99%) but the entire exercise was both amusing and annoying at the same time. Come to think of it, that's the only adverse action I've received from any bank since I've had good credit again. Gotta love Amex!
Nobody here should judge you for the inquiries; I'm sure you had your reasons, and that's really neither here nor there when it comes to this discussion (there are folks around who've run up multiples of what you have... they had their reasons as well). It's somewhat good to know that it took a number a bit larger than the average cardholder will likely have to get their attention, although it's unfortunate that you had to be the one to personally experience the data point first-hand.
As lousy as the whole thing is, I'm also happy to see that Amex was at least willing to have a chat about the situation and they were fine with your providing documentation to get your limit at least somewhat restored. There are some lenders around that would just summarily close the account if they had a concern. For all of Amex's faults, they get a 'kudo' for that.
Thanks again for sharing, and once your HPs age off you'll likely be able to get your credit line back to where it was, and possibly even higher!
If I understand correctly, Rudy1 has 26 inquiries on his/her credit reports. I'm a little confused by "Nobody here should judge you for the inquiries." Inquiries are part of FICO scores. It is possible that I misunderstood what Rudy1's "26/24" regarding inquiries means (I think it means 26 inquiries in 24 months).