The AMEX Financial Review Thread

[Anonymous]

The threat of FRs wouldn't be enough to make me not get an AMEX...oh, I'd get it, but as soon as I received the card, I would ask that a note be put into my file that any FR will result in my immediate and total cancellation of my account, 100%, no saving throws allowed. I would keep my balance low enough to PIF at any time.

[Anonymous]

So I've been FR'd, still in the process of getting my account back up. However, right before the FR, i got approved for 2 amex cards with 5k limits each (which probably triggered the FR). but anyways, i received the cards but have not activated yet, since i'm still in FR status. would the FR effect those two new cards' status as well, or just my Amex delta. i would assume it's on all my accounts with amex, but just wondering.

[Anonymous]

Go ahead and activate them

I am sure they will be locked as well..

UNLESS - you think you will fail the FR.

[jsmith12345]

I have only one Amex card, the clear.  When I initially received it I had a credit line of $7500.  I called them immediately since this is below my other credit lines and asked for an increase to $12500. I received it.  About 3 months later I requested another increase and was taken to $19200 (asked for $25k, this was the only time they didn't give me what I requested).  Another 3 months later I asked for $30000 and got it.  A month or so ago I requested an increase to $50000.  They said that amount requires submission of my tax documents for the last 2 years and W-2's.  Keep in mind I was NOT under FR for this, but they were essentially asking for the same thing.  Since I never lie on applications I simply faxed both items in and in about a week I had my $50000 credit line.  I'm in the process of a move so while one of my homes is sitting on the market I used my Amex to cover the costs of my move and such, so I've hit it hard with around $25k in charges (made sure I stayed under 50%).  Not a peep from them so far.  I always pay at least double my minimum and usually pay off in large chunks when I can.  I'm not overly concerned about an FR, but more concerned about the inconvenience of it or even worse if I'm at a business function and my card gets denied. As such, I ONLY use my Amex for online transactions, payments over the phone, etc.....     

[Anonymous]

If they have your taxes, that means you have passed FR. Now you have nothing to worry about. You can max the card out if you need to and AMEX will not even peep. They love you. You are exactly the customer they want. Congratulations....You are far ahead of many people who are amex customers.

[Anonymous]

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TheNewWorldMan wrote:
This is where AMEX customers need to tell AMEX that their product has a serious reliability problem. Just like a person wouldn't go off-roading in the Mojave Desert in a vehicle prone to engine failures, why should people trust a credit card that is disabled without warning for no apparent reason?

I would recommend anyone in this position tell AMEX to either fix the reliability issue, or to lose a customer as you go with a competitor's card which is reliable.

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I agree, while I would not like to lose my Amex card, I already have my speech ready...."Why do you need this, is there some kind of problem that I don't know about?  Do you have my card mixed up with somebody else's?  Cause mines almost always paid in full!  I don't have the time to do this for you....I work one job....I'm starting a business....I got hobbies....i got kids.....I'm leaving on vacation in two days and PLANNING on taking my Amex card.....I really don't have time for your FR, so now what? 

I'll say it much nicer but that's my plan...

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
This is where AMEX customers need to tell AMEX that their product has a serious reliability problem. Just like a person wouldn't go off-roading in the Mojave Desert in a vehicle prone to engine failures, why should people trust a credit card that is disabled without warning for no apparent reason?

I would recommend anyone in this position tell AMEX to either fix the reliability issue, or to lose a customer as you go with a competitor's card which is reliable.

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I agree, while I would not like to lose my Amex card, I already have my speech ready...."Why do you need this, is there some kind of problem that I don't know about? Do you have my card mixed up with somebody else's? Cause mines almost always paid in full! I don't have the time to do this for you....I work one job....I'm starting a business....I got hobbies....i got kids.....I'm leaving on vacation in two days and PLANNING on taking my Amex card.....I really don't have time for your FR, so now what?

I'll say it much nicer but that's my plan...

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I'm not sure that will work. Amex will probably keep your account on freeze status until you can find time. But that should buy you plenty of time to keep it open. Maybe even for months or years. It will still help UTL. You just won't be able to use it.

[Anonymous]

no, it's comply within 30 days of notice or get nice " cancelled by creditor" on your credit report.

[Anonymous]

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@jsmith12345 wrote:

I have only one Amex card, the clear. When I initially received it I had a credit line of $7500. I called them immediately since this is below my other credit lines and asked for an increase to $12500. I received it. About 3 months later I requested another increase and was taken to $19200 (asked for $25k, this was the only time they didn't give me what I requested). Another 3 months later I asked for $30000 and got it. A month or so ago I requested an increase to $50000. They said that amount requires submission of my tax documents for the last 2 years and W-2's. Keep in mind I was NOT under FR for this, but they were essentially asking for the same thing. Since I never lie on applications I simply faxed both items in and in about a week I had my $50000 credit line. I'm in the process of a move so while one of my homes is sitting on the market I used my Amex to cover the costs of my move and such, so I've hit it hard with around $25k in charges (made sure I stayed under 50%). Not a peep from them so far. I always pay at least double my minimum and usually pay off in large chunks when I can. I'm not overly concerned about an FR, but more concerned about the inconvenience of it or even worse if I'm at a business function and my card gets denied. As such, I ONLY use my Amex for online transactions, payments over the phone, etc.....

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Um, wow! That's more than all my credit card limits combined!!! I need to do another CLI in 3-6 months or so so I can cancel the measly, greedy, CCCs who just .... "ain't all dat." lol

[Anonymous]

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@Anonymous wrote:
If they have your taxes, that means you have passed FR. Now you have nothing to worry about. You can max the card out if you need to and AMEX will not even peep.

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Not exactly. I sent 2 years of W2's, bank statements and check stubs that fully supported the income I claimed when I applied. Yet they still kept flagging me AFTER passing the FR, citing different BS reasons. I finally got it cleared up but it took several weeks and countless phone calls.