American Express Membership Rewards - 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.

:confused:

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.

...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...The bottom line is that I have until Tuesday to fax in the irs form but I do not want to do that.

...Amex giving me very high limits.


Why do you not want to allow American Express to see the transcripts of your income tax returns? First you say you are "ok" with this, but then you "do not want to do" it. Looking at the form it expires in 60 days, you are not giving American Express ongoing access to your tax returns.

Did American Express give you high limits spontaneously, or did you use the online tool to request increases?

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.
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.

I was thinking it might be a troll, but I'm not sure.

check out www.creditboards.com/forums and do a search for financial review or Amex F/R

It would be a really long time before I let Amex, or anyone else, have access to my IRS files.

I'd close my account first.

It would be a really long time before I let Amex, or anyone else, have access to my IRS files.

I'd close my account first.

Then I guess you don't want to apply for a mortgage as that IRS form is one of the MANY forms that require your signature to get a mortgage.

Then I guess you don't want to apply for a mortgage as that IRS form is one of the MANY forms that require your signature to get a mortgage.

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.

Then I guess you don't want to apply for a mortgage as that IRS form is one of the MANY forms that require your signature to get a mortgage.

The mortgage company will only pull your tax return if you stop paying the mortgage or they suspect your application had fraudulent data on it.

I too would tell Amex to take a hike.

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.