Re: Will I trigger an AmEx Financial Review?

Anonymous · ‎03-05-2018

My AmEx Everyday card is at credit limit of $9,000. Using the a 3xCli request would place me at a $27,000 credit limit.

I have heard that AmEx starts a financial review on people that get around $28,000. How likely am I to trigger a Financial review?

My AmEx profile:
I usually pay my balance off in full, as such I never paid interest to AmEx. I regular get physical mail, email, and account page offers for the Platinum Card, Gold Card, Blue Cash Everyday, Pre-Approved for a full $26,000 loan at their lowest rate, and recently I started getting offers for a card I wasn't familiar with called the SimplyCash Plus card. My stated income is $60,000.

My FICO 8 scores are Equifax 752, Transunion 754, and Experian 747

Anonymous · ‎03-05-2018

Interested in what feedback you get...

wasCB14 · ‎03-05-2018

I've not been through this, but I think people who know more than I do about this could use more information.

Are you only concerned about a full FR? Or are you also concerned about being asked for proof of income?

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select

Anonymous · ‎03-06-2018

I will likely fail a Full FR, but will likely pass the bank only version.

wasCB14 · ‎03-06-2018

@Anonymouswrote:
I will likely fail a Full FR, but will likely pass the bank only version.

Can you elaborate?

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select

Anonymous · ‎03-06-2018

My tax documents do not fully reflect my stated income.

pip3man · ‎03-06-2018

with Amex the AGI listed on your 1040 or 1040A should be what you report as your primary income. I believe there's an option to include a secondary source of income where u would enter other revenue u receive. Because in the event of comprehensive financial review, they will be requesting your tax return only to verify your income on the 4506-T. And may God help you if it doesn't match or at least within a reasonable range cos it's either one out of these two will happen - a hard limit imposed on your accounts definitely/indefinitely or they shut u down completely and temporarily blacklist you. So thread carefully...

UncleB · ‎03-06-2018

@Anonymouswrote:
My AmEx Everyday card is at credit limit of $9,000. Using the a 3xCli request would place me at a $27,000 credit limit.

I have heard that AmEx starts a financial review on people that get around $28,000. How likely am I to trigger a Financial review?

My AmEx profile:
I usually pay my balance off in full, as such I never paid interest to AmEx. I regular get physical mail, email, and account page offers for the Platinum Card, Gold Card, Blue Cash Everyday, Pre-Approved for a full $26,000 loan at their lowest rate, and recently I started getting offers for a card I wasn't familiar with called the SimplyCash Plus card. My stated income is $60,000.

My FICO 8 scores are Equifax 752, Transunion 754, and Experian 747

I believe you're confusing a proof-of-income (POI) request with a FR (Financial Review).

There's no "magic number" for a CLI that prompts Amex to request proof-of-income (POI)... it varies from person to person. If they do request POI (which is usually by requesting form 4506-T) you can safely ignore it; you just won't get the CLI.

On the other hand, FR (Financial Review) is a whole 'nother beast. During a FR, your accounts are generally locked (all of them if you have more than one) and if you refuse their requests your cards will usually be closed. If you provide the information they request (also usually a 4506-T) and the information is markedly different from what you had previously reported there's a good chance they'll either close your accounts and/or lower your limits (in the case of a charge card, you might get a 'hard' limit).

I don't recall any cases where a CLI request prompted a FR. If there was one that I've missed it's definitely an outlier.

For more information on this, you should check the Amex 'mega' thread, found here: http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

longtimelurker · ‎03-06-2018

@UncleBwrote:
@Anonymouswrote:
My AmEx Everyday card is at credit limit of $9,000. Using the a 3xCli request would place me at a $27,000 credit limit.

I have heard that AmEx starts a financial review on people that get around $28,000. How likely am I to trigger a Financial review?

My AmEx profile:
I usually pay my balance off in full, as such I never paid interest to AmEx. I regular get physical mail, email, and account page offers for the Platinum Card, Gold Card, Blue Cash Everyday, Pre-Approved for a full $26,000 loan at their lowest rate, and recently I started getting offers for a card I wasn't familiar with called the SimplyCash Plus card. My stated income is $60,000.

My FICO 8 scores are Equifax 752, Transunion 754, and Experian 747
I believe you're confusing a proof-of-income (POI) request with a FR (Financial Review).

There's no "magic number" for a CLI that prompts Amex to request proof-of-income (POI)... it varies from person to person. If they do request POI (which is usually by requesting form 4506-T) you can safely ignore it; you just won't get the CLI.

On the other hand, FR (Financial Review) is a whole 'nother beast. During a FR, your accounts are generally locked (all of them if you have more than one) and if you refuse their requests your cards will usually be closed. If you provide the information they request (also usually a 4506-T) and the information is markedly different from what you had previously reported there's a good chance they'll either close your accounts and/or lower your limits (in the case of a charge card, you might get a 'hard' limit).

I don't recall any cases where a CLI request prompted a FR. If there was one that I've missed it's definitely an outlier.

For more information on this, you should check the Amex 'mega' thread, found here: http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

This. And, you have the opportunity to play around with the amount requested to see if you can avoid a PoI request. So if when you ask for 3x, you get prompted for a 4056T, you can cancel, request a smaller amount, and see if you are still asked for the form. In some cases, you might find that the CLI that "works" might be too small to waste a time-restricted request, but some find that while a full 3x requires PoI, something only a little less (say 2.5) doesn't. All depends on the unknown details being used by Amex.

MrDisco99 · ‎03-06-2018

When you put in your CLI request, it will tell you if they want proof of income. Just hit the back button and put in a lower number.

FR is when they hold your accounts for ransom in exchange for every piece of data about your life. That's usually only triggered by suspicious spending patterns or the like, not a CLI request.