AMEX financial review

[FranknBeans]

I have the Blue Cash Everyday (20k limit) and the Blue Business Plus (10k limit) with a Gold Card personal and business.  If I apply for another AMEX business credit card and they approve me over 5k what are my chances  i will go into finacal review?  I have zero balances on all cards I just put 12k on the Gold business in the past 50 days and I always pay when a balance posts.  My oldest AMEX card is going on 2 years old.  

[GZG]

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@FranknBeans wrote:

I have the Blue Cash Everyday (20k limit) and the Blue Business Plus (10k limit) with a Gold Card personal and business.  If I apply for another AMEX business credit card and they approve me over 5k what are my chances  i will go into finacal review?  I have zero balances on all cards I just put 12k on the Gold business in the past 50 days and I always pay when a balance posts.  My oldest AMEX card is going on 2 years old.  

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financial reviews are typically reserved for suspicious spend/fear you can't pay back/high carried balances

you may encounter a bank statements request when you apply, or they may pull limit from your BBP to open up the new business card if your at your maximum limit with them, but I wouldn't be fearful of an account shutdown until you provide a full financial picture just for applying for another product

[FranknBeans]

Ok thanks.  I'm just worried they will supsend my accounts before I get my welcome bonus from my Business Gold.  I still have over a month and a half until my 90 days comes and i get my 140k points.  

[coldfusion]

I wouldn't worry about a financial review.    It's possible that if you apply for another card they come back with a 4506-C request even if it's a business card where you're a personal guarantor, but that's not a financial review.  A 4506-C request focuses on verifying income.

[FranknBeans]

I went for the Amex Marriott Bonvoy Business before the welcome offer ends at the end of the month.  I was instantly approved for 20k.  10k right now and 20k when the card arrives, and I activate it.  That will put me at 50k and then I have two gold cards (personal and business) as well.  So far so good.  IDK if and when the financial review would happen.  

This should tide me over until I come down from 6/24 to 4/24 May of this year and apply for my Chase Business cards.  IDK if Chase can see business cards to help with approval.  I know they cant see on my personal credit.  IDK if it is reported someplace else.  

[K-in-Boston]

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@FranknBeans wrote:

So far so good.  IDK if and when the financial review would happen.  

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If and when American Express suspects you of fraud or has serious concerns about your ability to pay.  Are you spending $2000 a day on gift or prepaid cards?  Charging $50k every month on an income of $75k and business revenues of $100k?  If not, you probably don't need to worry about a financial review.

[longtimelurker]

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@K-in-Boston wrote:

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@FranknBeans wrote:

So far so good.  IDK if and when the financial review would happen.  

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If and when American Express suspects you of fraud or has serious concerns about your ability to pay.  Are you spending $2000 a day on gift or prepaid cards?  Charging $50k every month on an income of $75k and business revenues of $100k?  If not, you probably don't need to worry about a financial review.

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@K-in-Boston is gently reminding you that a financial review is very different from Proof of Income for a CLI.     In both cases, you may be asked to allow Amex to review your tax transcripts, but:

1) In a financial review, your card(s) is frozen or at best severely restricted.  In PoI, nothing changes

2) You can refuse to allow Amex to see the tax transcript, or anything else they want, like W2, bank account etc.  In a financial review, this refusal will lead to your cards being closed.  For a CLI PoI request, it will just lead to the CLI request being denied, much as with some other lenders if you refused to unfreeze your credit bureau accounts.

TL/DR: Financial Review is serious and can lead to closure.  Getting asked for Proof of Income for a CLI request, not so much