My Amex F/R update

[Anonymous]

The day before my accounts were 'suspended' by Amex, I had requested a BT.  I got an email from Amex that the transfer had been processed, so I called them to find out what was going on.  I had expected that my accounts were closed, as I had requested.  They were not.  The csr told me they were waiting the 15 days for me to comply.  I declined again.  I was put on hold for a few minutes by a very pleasant csr (who by the way came back on the line at least twice to let me know she was still there and I hadn't been forgotten), and let me know my accounts had been released from the hold and I could use them again.

She said all newer accounts will be F/R'd.

Anyway, once I have the bt paid, I will be done with Amex.

[sl]

Sounds like AMEX is getting a lot of bad press with their F/R,.  I bet IRS is getting tired of them as well.

[future]

So you denied the fr....Good for you,  i might start seeing a following... did they lower your cl's

[future]

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future wrote:

So you denied the fr....Good for you,  i might start seeing a following... did they lower your cl's

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yoou might start seeing a following

[Anonymous]

I think any AMEX customer with a credit limit $10,000 or below and utilization under 50% should cancel if they are FR'ed. There are too many other cards out there with CLs in that range that don't make customers jump through time-consuming hoops. AMEX is good, but they ain't all that.

Now if you have one of their Einsteinium Ultra Deluxe cards with a $25,000 CL and you've got a $19,812 balance, then I can understand why they might FR.

[Anonymous]

I agree.   Having your account frozen without warning and having them demand private financial documents is bad enough.  Problem is, even if you comply, there is no guarantee that you won't get hit with a second F/R or even a third.  It's happening.......a lot.

I'm done with them.  Amex just isn't worth it.

[Anonymous]

They did not lower my cl's.   I think they're still expecting that I'll keep the accounts open beyond the payoff of the bt.

[Anonymous]

I'm not trying to highjack this thread, but if you submit to their requests, what would qualify as a failure, and what is the result? Do they simply cut your CL, or do they cancel your account altogether. I was honest with my application, but if there is going to be an issue, I'd just assume close the account myself rather than have them close it. Just sounds like more trouble than its worth, and had I done more research, I wouldn't have applied.

[Anonymous]

Well, they either cld you or close the account.  They look at your income and your cr. 

Message edited to say that Amex can either CLD you or close your account(s).  They may choose to leave your account as is.  Some people are able to get a CLI or APR reduction for their troubles.  It all depends on your income and what your cr looks like during the F/R.

Also important to note that an F/R is not necessarily a one-time occurance.  If their computer red flags your account, for whatever reason, you can be hit with multiple F/R's.

Message Edited by KDM on 08-14-2007 09:46 AM

[Anonymous]

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stealth71 wrote:

I'm not trying to highjack this thread, but if you submit to their requests, what would qualify as a failure, and what is the result? Do they simply cut your CL, or do they cancel your account altogether. I was honest with my application, but if there is going to be an issue, I'd just assume close the account myself rather than have them close it. Just sounds like more trouble than its worth, and had I done more research, I wouldn't have applied.

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stealth71.....I had an FR done back in July. When it was finally done, they DID NOT close my accounts and my credit limits stayed the same. Just FYI..................