Will I trigger an AmEx Financial Review?

[Anonymous]

Thanks Chasing750, it looks from stats that you are making progress.

[longtimelurker]

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@Anonymous wrote:
AMEX has a lot of customers with $0 income but high spend and little to no assets.

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I hope most of them get their bills paid by someone else then!

[Anonymous]

AMEX has had a long relationship with those people, they know the risks, after all AMEX sued many of them in 2008, 2009, and 2010.

[HeavenOhio]

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@Anonymous wrote:
Agreed, I have a friend who made $24K - $27K and reported such to AMEX and has gotten $15K in Credit Line from AMEX, plus the Platinum and Gold cards. He recently got close to the 12K limit on his everyday card, and AMEX declined a purchase on his Platinum card.

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The internal "secret" spending limit on charge cards may be tied somewhat to balances and limits on other products. I would guess that being maxed on the revolver made less money available to be spent on the charge card.

We had a post here not too long back where a person voluntarily took a CLD (credit limit decrease) on an AMEX revolver in order to be allowed to spend more on a charge card.

[Anonymous]

My friend was a few hundred dollars of his limit on the Everyday card, AMEX declined a $1,500 purchase on his Platinum, when he called AMEX they told him they were concerned about how close he is to his limits. They told him that if just paid $1,000 on his Everyday card, his Platinum would be back to normal. My friend spends about 60K on his Platinum a year.

[signaturecardmember]

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@HeavenOhio wrote:

@Anonymous, as explained above, you won't be prompted for financial review. I don't think you'll be asked for proof of income either. But as stated, if they do ask, hit the back button and try again. BrutalBodyShots did this 21 times during one CLI request. A week later, he received 21 rubber-banded POI forms in the mail that he could safely ignore.

If they don't want to give you the full CLI, my guess is that you'll be presented with a counteroffer.

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How do you cancel and resubmit, back button on browser gave error message? I have a friend who has been sitting at $25k limit on Everyday card for probably 2 years. Has other cards with much higher limit and a income in mid 6 figures and very low utilization, mid 700s score.  Tried for $75k and was asked for POI, one option said continue now other one said do it later. Hit the later option. They have no desire to go through income verification for a CC and their income is comrprised of multiple sources. I guess just ignore the mail and hit the CLI button again with a lesser amount? Trying to help them with this process. Thanks guys.

[Anonymous]

I would add 10K, and move up slowly. I wonder people have gotten without a proof of income.

The likely reason is as other credit card companies have put it, "Not enough experience with current credit limit". Your friend can inch up slowly, or open another Amex credit card, and then transfer the credit limit. Either the way he should try to use the card more.

[HeavenOhio]

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@Anonymous wrote:
My friend was a few hundred dollars of his limit on the Everyday card, AMEX declined a $1,500 purchase on his Platinum, when he called AMEX they told him they were concerned about how close he is to his limits. They told him that if just paid $1,000 on his Everyday card, his Platinum would be back to normal. My friend spends about 60K on his Platinum a year.

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That's a pretty common scenario. Give them some money, and you're good to go again.

[HeavenOhio]

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@signaturecardmember wrote:
How do you cancel and resubmit, back button on browser gave error message? I have a friend who has been sitting at $25k limit on Everyday card for probably 2 years. Has other cards with much higher limit and a income in mid 6 figures and very low utilization, mid 700s score.  Tried for $75k and was asked for POI, one option said continue now other one said do it later. Hit the later option. They have no desire to go through income verification for a CC and their income is comrprised of multiple sources. I guess just ignore the mail and hit the CLI button again with a lesser amount? Trying to help them with this process. Thanks guys.

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When you're prompted for proof of income, hit the browser's back button and try submitting a lower amount. Some do this in increments of $5,000.

In this case, I'd cut to the chase and submit a request for $35k. If prompted for POI, go for $34.5k or $34k. If that works, your friend can likely expect to be able to score $5k increases without POI every six months after that.