Jan 3, 2014, 2:49 pm
Last edit by: mia
Earlier discussion is in this thread: Financial Review Discussion [2009-2013]
In the USA a Financial Review typically includes a request to submit an IRS form 4506-T which authorizes American Express to obtain a transcript of your Federal Income Tax Return for a specific year. It does not authorize a copy of the actual return. Download the form here: http://www.irs.gov/pub/irs-pdf/f4506t.pdf
Order your own transcript here: https://sa2.www4.irs.gov/irfof-tra/start.do
Other USA-based rewards card issuers also audit accounts and end unsatisfactory relationships.
Bank of America: 2013
Citibank: 2013
JP Morgan Chase: 2013.1 2013.4 2013.9 2013.12
In the USA a Financial Review typically includes a request to submit an IRS form 4506-T which authorizes American Express to obtain a transcript of your Federal Income Tax Return for a specific year. It does not authorize a copy of the actual return. Download the form here: http://www.irs.gov/pub/irs-pdf/f4506t.pdf
Order your own transcript here: https://sa2.www4.irs.gov/irfof-tra/start.do
Other USA-based rewards card issuers also audit accounts and end unsatisfactory relationships.
Bank of America: 2013
Citibank: 2013
JP Morgan Chase: 2013.1 2013.4 2013.9 2013.12
Financial Review discussion
Nov 15, 2015, 2:29 am
#526
Join Date: Nov 2014
Location: AZ
Posts: 250
IMO, your best bet is to admit you bought gift cards for the points. The FR rep will already know those were gift cards, and there's not many good non-MS explanations for a large amount of $500 VGC purchases on a personal card. By my calculations, that approach has the highest likelihood (not guaranteed) of a good outcome. I'd think as long as your tax transcripts are consistent with your stated income, you'll be fine.
Nov 21, 2015, 10:51 am
#527
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,668
Odd FR, quickly resolved
I've had Amex cards since 1986, and got the DL Amex Plat in 2012. Since then, about $50K-$60K/year has gone on that card, none of it MS, and really a combination of expenses: some travel (DL tickets, hotel nights, rental cars), dining, general purchases, etc.
This year I'm on track of spending only about $30K on it, most of which happened by early September, with very little spend on it since.
I also have the regular Amex Plat, it doesn't see a lot of use, maybe $10K/year. The usage pattern hasn't changed on that card.
Two weeks ago I was asked by Amex to provide the 4506-T form that everyone reading this thread is so familiar with, which I did right away.
Yesterday, I was notified that all was well, and the matter was closed.
No spending limitations had been placed on the cards at all.
So, overall, pretty much a non-event. I thought I'd report it, just to show that sometimes the FR process is fairly painless.
This year I'm on track of spending only about $30K on it, most of which happened by early September, with very little spend on it since.
I also have the regular Amex Plat, it doesn't see a lot of use, maybe $10K/year. The usage pattern hasn't changed on that card.
Two weeks ago I was asked by Amex to provide the 4506-T form that everyone reading this thread is so familiar with, which I did right away.
Yesterday, I was notified that all was well, and the matter was closed.
No spending limitations had been placed on the cards at all.
So, overall, pretty much a non-event. I thought I'd report it, just to show that sometimes the FR process is fairly painless.
Nov 21, 2015, 1:34 pm
#528
Join Date: Nov 2015
Posts: 6
So your FR was seemingly random after 30 years of unexciting usage, and therefore they didn't lock down your cards during FR?
Did your 4506-T authorize equifax to pull your 1040 transcript?
I feel it's one thing to let Amex see my tax return, and an entirely different thing to let equifax pull it from IRS and read it to Amex. Info like that doesn't belong in 3rd party hands, especially when that 3rd party is in the business of selling personal financial data.
Did your 4506-T authorize equifax to pull your 1040 transcript?
I feel it's one thing to let Amex see my tax return, and an entirely different thing to let equifax pull it from IRS and read it to Amex. Info like that doesn't belong in 3rd party hands, especially when that 3rd party is in the business of selling personal financial data.
Nov 21, 2015, 1:41 pm
#529
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,041
So your FR was seemingly random after 30 years of unexciting usage, and therefore they didn't lock down your cards during FR?
Did your 4506-T authorize equifax to pull your 1040 transcript?
I feel it's one thing to let Amex see my tax return, and an entirely different thing to let equifax pull it from IRS and read it to Amex. Info like that doesn't belong in 3rd party hands, especially when that 3rd party is in the business of selling personal financial data.
Did your 4506-T authorize equifax to pull your 1040 transcript?
I feel it's one thing to let Amex see my tax return, and an entirely different thing to let equifax pull it from IRS and read it to Amex. Info like that doesn't belong in 3rd party hands, especially when that 3rd party is in the business of selling personal financial data.
Nov 21, 2015, 4:36 pm
#530
Join Date: Feb 2010
Location: ORD
Programs: UA 1K
Posts: 4,217
So your FR was seemingly random after 30 years of unexciting usage, and therefore they didn't lock down your cards during FR?
Did your 4506-T authorize equifax to pull your 1040 transcript?
I feel it's one thing to let Amex see my tax return, and an entirely different thing to let equifax pull it from IRS and read it to Amex. Info like that doesn't belong in 3rd party hands, especially when that 3rd party is in the business of selling personal financial data.
Did your 4506-T authorize equifax to pull your 1040 transcript?
I feel it's one thing to let Amex see my tax return, and an entirely different thing to let equifax pull it from IRS and read it to Amex. Info like that doesn't belong in 3rd party hands, especially when that 3rd party is in the business of selling personal financial data.
Nov 22, 2015, 9:43 am
#531
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,668
Nov 25, 2015, 11:11 am
#532
Join Date: Nov 2015
Posts: 6
Not just no, but Hell No!
BTW, they have not tried to charge me any interest or cash advance fees. They haven't taken away my previously earned MR points either.
They did not award me any MR points for the purchases on my statement that was issued during the FR process.
Last edited by taxmantoo; Nov 25, 2015 at 11:18 am
Nov 25, 2015, 2:38 pm
#533
Join Date: Nov 2015
Posts: 559
And mine would have gone to equifax verification services.
Not just no, but Hell No!
BTW, they have not tried to charge me any interest or cash advance fees. They haven't taken away my previously earned MR points either.
They did not award me any MR points for the purchases on my statement that was issued during the FR process.
Not just no, but Hell No!
BTW, they have not tried to charge me any interest or cash advance fees. They haven't taken away my previously earned MR points either.
They did not award me any MR points for the purchases on my statement that was issued during the FR process.
i thought of spending around 2500$ per month in MS which is less than my monthly income.
Will it be a problem ?
Jan 11, 2016, 9:22 am
#534
Join Date: May 2014
Posts: 47
Got the charging suspended alert on all my accounts on Saturday after my first transaction on the Business Gold card of... two dollars posted. 
When I called the number the lady was very nice, she said "I see that you recently opened three new accounts (Green, Gold, Business Gold), blah blah blah...(the rest is the usual mentioning of the tax form request).
Not too worried about it, though since I've done minimum MS with my Amex cards, (less than 1k a month), I guess they get nervous when I have too many cards with no charging limits?
When I called the number the lady was very nice, she said "I see that you recently opened three new accounts (Green, Gold, Business Gold), blah blah blah...(the rest is the usual mentioning of the tax form request).
Not too worried about it, though since I've done minimum MS with my Amex cards, (less than 1k a month), I guess they get nervous when I have too many cards with no charging limits?
Jan 11, 2016, 10:51 am
#535
Join Date: Oct 2013
Posts: 218
Got the charging suspended alert on all my accounts on Saturday after my first transaction on the Business Gold card of... two dollars posted.
When I called the number the lady was very nice, she said "I see that you recently opened three new accounts (Green, Gold, Business Gold), blah blah blah...(the rest is the usual mentioning of the tax form request).
Not too worried about it, though since I've done minimum MS with my Amex cards, (less than 1k a month), I guess they get nervous when I have too many cards with no charging limits?
When I called the number the lady was very nice, she said "I see that you recently opened three new accounts (Green, Gold, Business Gold), blah blah blah...(the rest is the usual mentioning of the tax form request).
Not too worried about it, though since I've done minimum MS with my Amex cards, (less than 1k a month), I guess they get nervous when I have too many cards with no charging limits?
Jan 12, 2016, 4:22 am
#536
Join Date: Nov 2015
Location: San Francisco Bay Area, Las Vegas
Programs: Global Entry/TSA PreCheck
Posts: 154
I'm guessing there is no hard and fast rule that would automatically trigger a FR. But does anybody have a general idea about what would be considered too many cards and within how short of a time frame? Any rule of thumb would be appreciated.
Jan 12, 2016, 5:59 am
#537
Join Date: Oct 2013
Posts: 218
Two for me triggered a FR after daily purchases made on one of the new charge cards.
Jan 12, 2016, 10:55 am
#538
Join Date: Feb 2001
Location: Oregon (DL and Marr Lifetime plat. etc.)
Posts: 1,273
The thing that annoys me is that AmEx is constantly sending out offers for new cards, and then they stick you with an FR. They really should disclose that if we give you this card, we will also give you an FR. I've started ignoring the AmEx offers for this reason. Now I'm down to one AmEx card.
Jan 12, 2016, 3:31 pm
#539
Join Date: Jul 2015
Posts: 14
Got the charging suspended alert on all my accounts on Saturday after my first transaction on the Business Gold card of... two dollars posted.
When I called the number the lady was very nice, she said "I see that you recently opened three new accounts (Green, Gold, Business Gold), blah blah blah...(the rest is the usual mentioning of the tax form request).
Not too worried about it, though since I've done minimum MS with my Amex cards, (less than 1k a month), I guess they get nervous when I have too many cards with no charging limits?
When I called the number the lady was very nice, she said "I see that you recently opened three new accounts (Green, Gold, Business Gold), blah blah blah...(the rest is the usual mentioning of the tax form request).
Not too worried about it, though since I've done minimum MS with my Amex cards, (less than 1k a month), I guess they get nervous when I have too many cards with no charging limits?
Obviously it's a little early for 2015, but I ask because my income was significantly higher in 2014 than 15, so I am wondering whether I should go on an Amex app blitz to get the FR over with now, while they will still see my higher income.
Jan 12, 2016, 9:32 pm
#540
Join Date: Dec 2015
Posts: 5
I know this is a dumb question but would it be stupid to ask an amex CSR via online chat to expedite my bonus points after meeting minimum spend. I hit minimum spend via serve CC loads and have not put any other spend or transactions on the card. The balance on the card has been paid off for a month now. I just don't want to trigger a financial review or get my pending points taken away for MSing.