Amex FR (Financial Review) - Experiences & Suggestions
#1
Original Poster
Join Date: Dec 2006
Location: PHX
Programs: AA, DL, US, UA, Starwood
Posts: 69
Amex FR (Financial Review) - Experiences & Suggestions
Howdy!
I've read many posts out there about amex FR but after all the reading I still cannot figure out what to do!
Out of the blue, an amex rep from the financial review dept. called me to "update" some info on my account. I politely explained to the woman that I was busy and I didn't really need to update any info. Then she goes on to say that she is actually calling me to review my account. Now I've read in many posts how cardholders were asked for bank statements, tax returns etc. Me on the other hand, I was only given one option; to fill out an irs 4506-t form so that they can request my tax transcript from the irs. I explained to the woman that this was ok but I would like to additionally send some bank and portfolio statements. However the woman would not hear it! Only the tax form and thats it. So I asked to speak to a supervisor. I was put through and given the same runaround. However I did question the supervisor about the whole FR thing. She told me that she works in an exclusive financial review center, where they handle 100's of cases of FR a day!! Although she said that she "doesn't know" what triggered my FR.
The bottom line is that I have until Tuesday to fax in the irs form but I do not want to do that. Does anybody have any suggestions as how to proceed?
Regarding me triggering a FR here are some of my downfalls:
Opening 8 amex cards in 6 months.
Amex giving me very high limits.
Buying lots of TC's.
Churning cards.
I've read many posts out there about amex FR but after all the reading I still cannot figure out what to do!
Out of the blue, an amex rep from the financial review dept. called me to "update" some info on my account. I politely explained to the woman that I was busy and I didn't really need to update any info. Then she goes on to say that she is actually calling me to review my account. Now I've read in many posts how cardholders were asked for bank statements, tax returns etc. Me on the other hand, I was only given one option; to fill out an irs 4506-t form so that they can request my tax transcript from the irs. I explained to the woman that this was ok but I would like to additionally send some bank and portfolio statements. However the woman would not hear it! Only the tax form and thats it. So I asked to speak to a supervisor. I was put through and given the same runaround. However I did question the supervisor about the whole FR thing. She told me that she works in an exclusive financial review center, where they handle 100's of cases of FR a day!! Although she said that she "doesn't know" what triggered my FR.
The bottom line is that I have until Tuesday to fax in the irs form but I do not want to do that. Does anybody have any suggestions as how to proceed?
Regarding me triggering a FR here are some of my downfalls:
Opening 8 amex cards in 6 months.
Amex giving me very high limits.
Buying lots of TC's.
Churning cards.
#2
Join Date: Dec 2006
Location: LAX
Programs: SPG Plat Hyatt Diamond BMI Silver
Posts: 476
When I had my fr from amex I ended up just paying off the cards the very next day and than not caring what would happen I went back to visa and sure enough a week later all my accounts with amex where unsuspended.
#3
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
Did American Express give you high limits spontaneously, or did you use the online tool to request increases?
Last edited by mia; Jul 2, 2007 at 7:38 am
#4
Join Date: Dec 2006
Location: SNA
Programs: Bonvoy LTTE/AMB, AmEx Plat, National EE, WN A-List, CLEAR+, Covid-19
Posts: 4,963
Well, I can sleep better at night. Based on some of the posts here and on FW one could nearly come to think that they just up and trigger FRs out of the blue, but since seeing more reports of folks with similar circumstances being FRed, I don't think me and my Plat, Blue and In:LA (which I haven't used in months) have anything to worry about.
#6
Join Date: Feb 2007
Location: Suburban Philadelphia
Programs: Marriott Lifetime Plat, IHG Gold
Posts: 3,392
check out www.creditboards.com/forums and do a search for financial review or Amex F/R
#8
Join Date: Aug 2000
Location: Irvine, CA USA
Programs: DL DM
Posts: 510
#9
Join Date: Jan 2007
Posts: 2,905
No, its not. For a simple mortgage, you only are required to present you're most recent W2's (or the like) - not the returns themselves. And I know, I'm a mortgage broker. Also, no CC company has the right to demand access to your IRS documentation. Those documents are considered yours/federal property - and it is a federal violation to mandate inspection of them. However, Amex does have the right to arbitrarily close/suspend your accounts. And I know, I'm also an attorney.
Last edited by Ritz; Jul 2, 2007 at 7:49 pm
#10
Join Date: Jan 2004
Location: SFO, SJC, OAK, LVK AA Lifetime Plat 2MM, LUV A-List, Hyatt Gold, SPG Lifetime Gold, Commercial Pilot (not employed by airlines)
Posts: 1,531
I too would tell Amex to take a hike.
#11
Original Poster
Join Date: Dec 2006
Location: PHX
Programs: AA, DL, US, UA, Starwood
Posts: 69
I got "the call" from the rep who was handling my case, I was informed that all my cards will be canceled. I guess I will have to re-apply for all the cards...
Thanks to all.
Thanks to all.