Screwed up with Amex

[ThomasJNewton]

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@7774x wrote:
Amex's actions showed their concerns about money laundering when they  cut card limits..Needless to say ..OP is on a short leash.for any  future violations.

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Not at all. Money Laundering is a crime, and the reporting laws designed to prevent it would not have tagged this transaction. Yes it was $10,000, but it was not in cash, and unless the OP walked into an AmEx office somewhere with cash to pay the bill, that is not likely to be AmEx's concern.

They have two concerns:

1. The person doing this is under financial distress and is using this transaction to get money to pay bills without looking like a cash advance. They therefore lower the limits to prevent the person from incurring lots more debt before defaulting.
2. The person is manufacturing spend to generate rerwards points and so AmEx lowers the limits to make it more difficult.

[acreditdummy123]

this goes to show that it doesn't pay to be honest 

[805orbust]

Great thread. I would also add that the whole credit system is a game, with rules. It is always good to remember that anything that sticks out is no good. Keep it cool and they'll have you restored in 12-18 months.  

And don't use any of that "Plan it" or "Pay Over Time" or any of that other stuff and you'll be good.

[CrSter]

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@DangerNoodle wrote:

She said that she still has to go through the FR process and asked me for my total income and how long I've been employed at my company. Upon answering these questions, she tells me that she sees no concern with my ability to pay off my balances and that she will have the case tossed from her department.

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The AMEX FR financial review consisted of nothing more than some verbal questions on the phone?  They didn't ask for tax returns or a Form 4506-T ?

[7774x]

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@805orbust wrote:

Great thread. I would also add that the whole credit system is a game, with rules. It is always good to remember that anything that sticks out is no good. Keep it cool and they'll have you restored in 12-18 months.  

And don't use any of that "Plan it" or "Pay Over Time" or any of that other stuff and you'll be good.

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Small amounts of Pay over time ...adds eyes on account..