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
#61
Join Date: Jan 2010
Posts: 1,708
Are you referring to Amex Personal Savings online? If I've got 20K sitting there, you think that makes a difference? They tie the CC and savings account by SS#? Yes, personal savings online. I have deposited more than my total credit lines with AMEX, so I think you're good with 20k when your CL is at 10k. They definitely have an insight into FSB when evaluating credit risk.
Any issues with thousands spent at CVS....they don't catch on? - not yet I match the profile though
Any issues with thousands spent at CVS....they don't catch on? - not yet I match the profile though
About how much do you spend at CVS per month? 5K, 10K, 20K? I might believe the savings account is considered if someone put like 50K in an AMEX savings account and then used an AMEX card for 20K per month at CVS for 6 consecutive months without getting FR. I think there still might be a trigger for amount of spend in a type of store, say 20k per month at a drug store, even if your credit limit on the card is 80K and your income is 200K.
#62
Join Date: Sep 2012
Location: IAH
Posts: 418
Something doesn't sound right here. AmEx will flag someone as a very high risk but will allow them to keep the cards open as long as they don't pay them off?
#63
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,959
I ordered a transcript of our 2012 tax return using the link from the Wikipost, and the result is much more detailed than the previous one (if I recall correctly). This runs six pages. It appears that the transcript displays every possible line, most with a $0.00 value.
If you have pulled one previously to see what card issuers can see, you may wish to order another.
If you have pulled one previously to see what card issuers can see, you may wish to order another.
#64
Join Date: Feb 2013
Location: PHL, maybe EWR
Programs: Plat IHG, Marriott Rewards Silver, CSP, Ink Bold, USDM, *Wood Gold, AA, Club Carl
Posts: 285
How long after submitting did it take to receive?
I ordered a transcript of our 2012 tax return using the link from the Wikipost, and the result is much more detailed than the previous one (if I recall correctly). This runs six pages. It appears that the transcript displays every possible line, most with a $0.00 value.
If you have pulled one previously to see what card issuers can see, you may wish to order another.
If you have pulled one previously to see what card issuers can see, you may wish to order another.
#65
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,959
#66
Join Date: Jun 2013
Posts: 510
If someone has a high level of genuine monthly expenses, like for example company charges your CC and reimburses you later, how does this impact the chances of getting FR?
So for example I've been charging 10k on my card every month since last 3 months for genuine expenses, does it mean I am more likely to get FR because of high charges on CC or does it mean I will not get FR because I'm not spending in just one particular area (like MS)?
So for example I've been charging 10k on my card every month since last 3 months for genuine expenses, does it mean I am more likely to get FR because of high charges on CC or does it mean I will not get FR because I'm not spending in just one particular area (like MS)?
#67
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
Accounts restored after forced closure.
Hey guys-
So some of you may remember my post from a few weeks ago (its now deleted i didnt catch why....) about my Plat and DL Reserve card being instantly closed as soon as I had paid them off in full. After unsuccessfully arguing my points against the phone agents i drafted a email outlining how i felt each reason they gave for closing my accounts was a mistake. Fast forward to this past weekend i got a call from the executive offices thanking me for my email, and letting me know that effective immediately all of my accounts had been restored in full.
Apparently a couple VPs who re-reviewed my account after reading my email agreed that the criteria they used to justify closing my stuff was faulty and they needed to update them.
So im back
So some of you may remember my post from a few weeks ago (its now deleted i didnt catch why....) about my Plat and DL Reserve card being instantly closed as soon as I had paid them off in full. After unsuccessfully arguing my points against the phone agents i drafted a email outlining how i felt each reason they gave for closing my accounts was a mistake. Fast forward to this past weekend i got a call from the executive offices thanking me for my email, and letting me know that effective immediately all of my accounts had been restored in full.
Apparently a couple VPs who re-reviewed my account after reading my email agreed that the criteria they used to justify closing my stuff was faulty and they needed to update them.
So im back
#68
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,959
Moderator action
Scroll back to post #1 for context.
Last edited by mia; Feb 3, 2014 at 10:45 am
#69
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
Thank you for the update. Your thread was not deleted, but rather merged into the Financial Review discussion thread, which was split around the end of December. (To find any of your own posts, click on your User Name > Statistics > Find all posts by ...)
Scroll back to post #1 for context.
Scroll back to post #1 for context.
#70
Join Date: Jan 2014
Posts: 12
applied two cards 3 weeks back. (BC and BCP)
charged 10000 across two cards.
got call, explained why i made these charges. and now its under review.. will send my tax 2012 year for review once I receive her email.
got this message...
"Charging suspended. Please call 1-800-678-0738 if we haven't already spoken with you."
What are chances of getting this pass easily?
charged 10000 across two cards.
got call, explained why i made these charges. and now its under review.. will send my tax 2012 year for review once I receive her email.
got this message...
"Charging suspended. Please call 1-800-678-0738 if we haven't already spoken with you."
What are chances of getting this pass easily?
#71
Join Date: Aug 2010
Location: Bay Area, CA
Programs: AA Plat, UA Gold, AS MVP Gold, HH Diamond, SPG Gold, Club Carlson Gold, US
Posts: 956
applied two cards 3 weeks back. (BC and BCP)
charged 10000 across two cards.
got call, explained why i made these charges. and now its under review.. will send my tax 2012 year for review once I receive her email.
got this message...
"Charging suspended. Please call 1-800-678-0738 if we haven't already spoken with you."
What are chances of getting this pass easily?
charged 10000 across two cards.
got call, explained why i made these charges. and now its under review.. will send my tax 2012 year for review once I receive her email.
got this message...
"Charging suspended. Please call 1-800-678-0738 if we haven't already spoken with you."
What are chances of getting this pass easily?
But if you mentioned 25K as your income and charged 10k in 3 weeks, be ready for a cut down in credit line/accounts.
#72
Join Date: Feb 2014
Location: Seattle, WA
Programs: DL DM, SPG Gold
Posts: 832
I've never gotten a FR, nor have I ever bought gift cards or done any real MS, but how picky does AMEX get about sending money to people? For example, I often use Amazon Payments to send money to parents/gf for money I owe them (for example, when gf pays for something on her card that we decided to split, I borrowed money from parents which I am paying back, etc.) I live in an apartment and I also intend to occasionally charge my rent to my credit card; does AMEX get unhappy about that?
My income two years ago was negligible (had no AMEX cards), my income 2013 was 45k, and I I applied for BCP(CL 2500) and Delta Gold(CL 4500) in the summer of 2013 with 45k reported.
I applied for a Business Delta Reserve card (CL 4000) 12/2013 using the income from my new job started this year (I reported 90k as that's salary, my 2014 gross income will be 125k+), it's used for my freelance/consulting work charges, mostly flights on Delta.
1.) Are my activities (using AP to pay back people, $500-1000 a month) and occasionally charging rent (~$1500) to my cards likely to cause a review? The AP charges are always several per month in odd amounts since I'm paying people back for items, often including sales tax or shipping, so it's not like I'm doing one AP for $1000 once a month or anything. Admittedly, I do occasionally pad the AP to my gf by 100-200 and get the money back through other channels
2.) If I do trigger an FR, will the fact that my last years tax return shows lower than what I put on my app for the most recent card be the only thing they consider? I have offer letters, signed contract, pay stubs, etc. but the tax return will obviously not show it since I just started the job this January.
I'm hoping to be able to hit both the 25k MQD waiver (combined across delta cards) and the 30k reserve MQD boost thresholds.
I could easily put several thousand dollars into an AMEX personal savings account (probably no more than 4-5k at the moment) if there was any evidence that helped, but am I correct that my activities are pretty tame compared to most people who get FR? I've never held a charge card from AMEX, only the three credit cards above.
My income two years ago was negligible (had no AMEX cards), my income 2013 was 45k, and I I applied for BCP(CL 2500) and Delta Gold(CL 4500) in the summer of 2013 with 45k reported.
I applied for a Business Delta Reserve card (CL 4000) 12/2013 using the income from my new job started this year (I reported 90k as that's salary, my 2014 gross income will be 125k+), it's used for my freelance/consulting work charges, mostly flights on Delta.
1.) Are my activities (using AP to pay back people, $500-1000 a month) and occasionally charging rent (~$1500) to my cards likely to cause a review? The AP charges are always several per month in odd amounts since I'm paying people back for items, often including sales tax or shipping, so it's not like I'm doing one AP for $1000 once a month or anything. Admittedly, I do occasionally pad the AP to my gf by 100-200 and get the money back through other channels
2.) If I do trigger an FR, will the fact that my last years tax return shows lower than what I put on my app for the most recent card be the only thing they consider? I have offer letters, signed contract, pay stubs, etc. but the tax return will obviously not show it since I just started the job this January.
I'm hoping to be able to hit both the 25k MQD waiver (combined across delta cards) and the 30k reserve MQD boost thresholds.
I could easily put several thousand dollars into an AMEX personal savings account (probably no more than 4-5k at the moment) if there was any evidence that helped, but am I correct that my activities are pretty tame compared to most people who get FR? I've never held a charge card from AMEX, only the three credit cards above.
#73
Join Date: Jan 2014
Posts: 12
yes, I mentioned correct income. little over 100K. but as i m reading these posts, got worried...
#74
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,959
http://www.flyertalk.com/forum/ameri...d-my-life.html
If American Express decides to do a FR they will request a form 4506-T (see the Wikipost at the top of this thread). They will compare the amount of income shown on the transcript to the amount you claimed on your application and to your spending. They don't appear to be interested in any other type of documentation, let alone anticipated income.
#75
Original Poster
Join Date: Jul 2008
Location: MSP
Programs: Delta PM, Marriott Plat, Hertz Pres
Posts: 3,649
I've never gotten a FR, nor have I ever bought gift cards or done any real MS, but how picky does AMEX get about sending money to people? For example, I often use Amazon Payments to send money to parents/gf for money I owe them (for example, when gf pays for something on her card that we decided to split, I borrowed money from parents which I am paying back, etc.) I live in an apartment and I also intend to occasionally charge my rent to my credit card; does AMEX get unhappy about that?
My income two years ago was negligible (had no AMEX cards), my income 2013 was 45k, and I I applied for BCP(CL 2500) and Delta Gold(CL 4500) in the summer of 2013 with 45k reported.
I applied for a Business Delta Reserve card (CL 4000) 12/2013 using the income from my new job started this year (I reported 90k as that's salary, my 2014 gross income will be 125k+), it's used for my freelance/consulting work charges, mostly flights on Delta.
1.) Are my activities (using AP to pay back people, $500-1000 a month) and occasionally charging rent (~$1500) to my cards likely to cause a review? The AP charges are always several per month in odd amounts since I'm paying people back for items, often including sales tax or shipping, so it's not like I'm doing one AP for $1000 once a month or anything. Admittedly, I do occasionally pad the AP to my gf by 100-200 and get the money back through other channels
2.) If I do trigger an FR, will the fact that my last years tax return shows lower than what I put on my app for the most recent card be the only thing they consider? I have offer letters, signed contract, pay stubs, etc. but the tax return will obviously not show it since I just started the job this January.
I'm hoping to be able to hit both the 25k MQD waiver (combined across delta cards) and the 30k reserve MQD boost thresholds.
I could easily put several thousand dollars into an AMEX personal savings account (probably no more than 4-5k at the moment) if there was any evidence that helped, but am I correct that my activities are pretty tame compared to most people who get FR? I've never held a charge card from AMEX, only the three credit cards above.
My income two years ago was negligible (had no AMEX cards), my income 2013 was 45k, and I I applied for BCP(CL 2500) and Delta Gold(CL 4500) in the summer of 2013 with 45k reported.
I applied for a Business Delta Reserve card (CL 4000) 12/2013 using the income from my new job started this year (I reported 90k as that's salary, my 2014 gross income will be 125k+), it's used for my freelance/consulting work charges, mostly flights on Delta.
1.) Are my activities (using AP to pay back people, $500-1000 a month) and occasionally charging rent (~$1500) to my cards likely to cause a review? The AP charges are always several per month in odd amounts since I'm paying people back for items, often including sales tax or shipping, so it's not like I'm doing one AP for $1000 once a month or anything. Admittedly, I do occasionally pad the AP to my gf by 100-200 and get the money back through other channels
2.) If I do trigger an FR, will the fact that my last years tax return shows lower than what I put on my app for the most recent card be the only thing they consider? I have offer letters, signed contract, pay stubs, etc. but the tax return will obviously not show it since I just started the job this January.
I'm hoping to be able to hit both the 25k MQD waiver (combined across delta cards) and the 30k reserve MQD boost thresholds.
I could easily put several thousand dollars into an AMEX personal savings account (probably no more than 4-5k at the moment) if there was any evidence that helped, but am I correct that my activities are pretty tame compared to most people who get FR? I've never held a charge card from AMEX, only the three credit cards above.