BE VERY CAREFUL WITH AMEX....

[sl]

Thanks for the post. It is very interesting. Hubby has the the Platimum AMEX with no set credit limit. Has had that card since 1993 and has never had a F/R. I suppose I should tell him to expect a F/R and I need to get off my rear and do our 2006 taxes (they are on extension and still burnt out on tax season). But better get them off to the IRS this weekend.

[MercyMe]

sl, from what I understand, AmEx is focusing on newbies, right now, but the intention is to eventually review all accounts  "D" (my relative) told me a horror story about a guy who had been a long time AmEx'er, with a impeccable credit history, who charged in the tens of thousands monthly and always paid in full, none of which mattered when his stated income didn't match what IRS provided AmEx.  They shut down all of his accounts.  This would indicate that though the focus may be on newbies, they're pulling well seasoned accounts for review as well.  Take care, huh?

me, simply.

[Anonymous]

If your accounts are still frozen when it comes time for Amex to report, do the report that the accounts are frozen. That could really throw up some red flags on someone's scores. I would be very pissed if it affected credit score.

I have plans to apply for Amex in two or three months. This information has really been helpful to me.

[Anonymous]

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MercyMe wrote:

sl, from what I understand, AmEx is focusing on newbies, right now, but the intention is to eventually review all accounts  "D" (my relative) told me a horror story about a guy who had been a long time AmEx'er, with a impeccable credit history, who charged in the tens of thousands monthly and always paid in full, none of which mattered when his stated income didn't match what IRS provided AmEx.  They shut down all of his accounts.  This would indicate that though the focus may be on newbies, they're pulling well seasoned accounts for review as well.  Take care, huh?

me, simply.

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MercyMe.....thanks for the great info!!!!! My question is: you had mentioned something about bank statements.......they never asked for those from me.....they just wanted 2006 tax return. I wonder why that is? When I sent them the requested tax form, I also attached a little note stating that on their applications, they ask for total HHI....and that's what they got. I said that If they only go by the applicants income, then that is what they should ask for!!!  I'm fixin to get out all the literature they sent with the cards and see what they wrote in fine writing. Oh well.......just got my Citi card in the mail that I had forgotten that I applied for .......3000.00 limit. Not to bad. Thanks again....and let me know if your relative tells you why they asked for tax return and not my bank statement. Bank statement would've proved my stated household income, as mine and my fiance's checks are deposited into the same account, along with my child support checks and his yearly bonus that I did not include on the application!!!! After reading your post, my previous excitement about being an AMEX cardholder quickly deminished!!! Matter of fact, since they are so **bleep**.....I may just stop accepting them at my office. Hate to do that to the patients that use them......but all of this BS may explain why to many people don't have one/or use one.  Have a great evening!!

[Anonymous]

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@Anonymous wrote:

If your accounts are still frozen when it comes time for Amex to report, do the report that the accounts are frozen. That could really throw up some red flags on someone's scores. I would be very pissed if it affected credit score.

I have plans to apply for Amex in two or three months. This information has really been helpful to me.

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I did have plans to apply for AMEX toward the end of the year, but unless I read from a reliable source that these FRs have ceased, I'll be canceling those plans.

Hopefully AMEX reads these forums...maybe someone should look them up on PlanetFeedback and make sure their higher-ups are aware of these forums and how these FRs are costing them business.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

If your accounts are still frozen when it comes time for Amex to report, do the report that the accounts are frozen. That could really throw up some red flags on someone's scores. I would be very pissed if it affected credit score.

I have plans to apply for Amex in two or three months. This information has really been helpful to me.

---

I did have plans to apply for AMEX toward the end of the year, but unless I read from a reliable source that these FRs have ceased, I'll be canceling those plans.

Hopefully AMEX reads these forums...maybe someone should look them up on PlanetFeedback and make sure their higher-ups are aware of these forums and how these FRs are costing them business.

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Thats a great idea TNWM......I could be VP of Amex one day (lol), as my brother-in-law is a business attorney, and If they try to screw me beyond what is written in  their literature they send with the cards, or on their website.....they'll be dealing with a beast. Don't get me wrong, I am NOT, by any means someone who looks for reasons to sue....never have sued anybody.......but, karma is a biaaaatch!!!! I don't tolerate people that are out to mess with someome that has not given them any reason to!!!

Message Edited by flygirl on 07-14-2007 08:25 PM

[MercyMe]

Hey, flygirl.  The matter of bank statements did come up, as I had assumed, were I to be hit with an F/R, I could fall back on the bank statements as the balances include non-taxable income.  AmEx doesn't use bank statements as proof of income.  They use bank statements to determine an average balance that would be equal to the credit line, which would reflect one's ability to pay the debt.    I will ask her, tomorrow, about why they didn't ask you for yours, but I tend to wonder if your 1040s aren't sufficient,  will they then ask for your statements?  Let me know if they do.   

[Anonymous]

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@MercyMe wrote:

Hey, flygirl. The matter of bank statements did come up, as I had assumed, were I to be hit with an F/R, I could fall back on the bank statements as the balances include non-taxable income. AmEx doesn't use bank statements as proof of income. They use bank statements to determine an average balance that would be equal to the credit line, which would reflect one's ability to pay the debt. I will ask her, tomorrow, about why they didn't ask you for yours, but I tend to wonder if your 1040s aren't sufficient, will they then ask for your statements? Let me know if they do.

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Or, the better approach would be to say to the AMEX rep, "none of your [expletive deleted] business, where do I mail the pieces of your credit card when my lawnmower gets done with it," and see if they back down.

Seriously, asking for your 1040 is already extremely nosy...going beyond that is inexcusable.

[MercyMe]

Apparently, NWM, and according to what I've read, though I haven't asked "D" about this, AmEx has no intention of ceasing the practice, which I initially thought to be somewhat invasive, until she explained to me that for all for all of the billions AmEx profits, countless millions are lost from those who skip out on their debts or include AmEx in BK, making the F/R sound business practice, huh?

[MercyMe]

flygirl, that they have the right to demand your financials isn't in the literture that came with the Blue Cash, unless I missed it, which is doubtful.  I was looking hard for it.  I don't suppose though, that from a legal standpoint, they have to include that in their cardholder agreement.  It doesn't so state in any mortgage document I've received that I would be required to produce tax returns and bank statements, and I am so required if I expect to purchase or refi.  From what D. told me there are a whole lot of folks who carry a whole lot of "gold" -- 6 and 7 figure credit limits with AmEx (though I couldn't have imagined!) so what would they care, really, about my lousy $5000 Blue.  They can replace me in a heartbeat, I would suppose. 

From all I have learned, anyway, when the HH comes I'm considering just sending it back with a note attached,  "Thanks, but no thanks." and the way I see it, I've been red flagged already because from what D. told me and my previous conversation with AmEx customer service, I'm doomed!

What did I say to CS, you ask?  HA!  I said,  and in sheer amazement,  "$7300?  You've got to be kidding!  I don't need or want that much credit!  I'll never use it!"  And remember what D. said,  if you don't use it, that sets off alarms....  OOPS.  Open mouth, insert the Hilton, and chew.