captaindomon

I agree with this. It's easy to begin to confuse the issues and bring in a bunch of other factors. If there is a written request, submit exactly what is written in the request. If there is a phone conversation, listen politely and confirm exactly what is requested, don't add anything further to the conversation other than answering direct questions politely and fully, thank them for all their help, and submit exactly what is requested.

This is the exact same thing that gets people into trouble with all kinds of things, including for example changing an airline ticket etc. Speak very directly with exactly what you need, listen politely to anything said, be quiet and allow the agent to help you. Don't be afraid of silence on a phone line while the agent works the issue. I've found 99% of the time if you follow the above you get the best result possible in the situation, and you avoid having any red flags added to your account with whatever company you are working with.

idkmybffjill

Giving an update - the FR was passed. Emails were sent that basically said AmEx lowered the limits on every single charge card.

fliesdelta

I posted before about my experience with a financial review: a non-event, they asked me for the tax form, I provided it, and that was it.

I have two Amex cards: Delta Plat, and the regular Plat. I've been a cardmember since 1986 (green, eventually gold, eventually plat), have never paid late, never went over the limit on the Delta card, and never overstated income and assets.

My usage of the plat card has been sporadic, though three months ago my business travel increased a lot (odd, given the current pandemic) and my current employer doesn't provide a corporate card so I've been using the plat just for travel expenses. Last minute airline tickets, many hotel nights and rental cars, so the spending on the card increased by a lot, and I've been making weekly payments (I submit expense reports weekly, they get paid within a week, I then pay the Amex). About a week ago I was contacted about the large increase in spending, I explained the travel and who was paying for it, and towards the end of the call the CSR said that "the financial review is now concluded, thank you for being a cardmember for so long".

So... I guess I now have two FRs under my belt, both positive experiences with minimal fuss.

krazykanuck

Out of curiosity, what was the magnitude of the increase? Either as a multiple of your usual spending or dollars? If you don't mind sharing.

fliesdelta

The monthly spend is usually a few hundred dollars at best, when there's an offer of dollars off at some merchant where I need something, or extra points, etc. Now it's as much as $9K/mo.

krazykanuck

Thanks! Putting real numbers against it really helps put things in context.

speer1234

Called Amex to see my available credit on my gold (I prepaid the card in full of $4k), rep started questioning my activity and asking what these "tax payments" and "giftcardmall.com" charges were for and started mentioning I was under financial review. I hung up on him.

My account now says: "Charging suspended. Please call 1-800-678-0738 if we haven't already spoken with you."

I think I may have poked the hornets nest by asking my available credit limit and the rep (who was an ... btw) got nosey and wanted to fling .... at me. The card was used to buy giftcards and pay my taxes with the IRS.

I will call them, but what do you advise I do? Is buying giftcards / paying taxes allowed? Will my bonus be forfeit or will I be blacklisted? How should I proceed without shooting myself in the foot?

note: I understand now theres a button to see my available credit. I did not know this existed before calling.

cfabar1

What are they asking to receive from you?

What amount of gift cards are we talking about here?

Is the tax amount an unusually high spend activity for you?

Steve M

As with most FR situations, it's unlikely to be any specific item or issue by itself, but the totality of the situation. You said you "I prepaid the card in full of $4k" - what does that mean? You paid $4k into a credit balance in anticipation of a charge? Or you paid a balance due of $4k before it was due because you have a $4k credit limit and wanted to charge more on the same statement? Or something else?

Large gift card purchases can be a warning sign of financial difficulties, as some people get desperate and charge gift cards and then sell them to others at a discount in order to work around cash advance limits. There's nothing wrong with gift card purchases per se, but if you have an unusually-large amount, and especially if they're out of line with what Amex knows your income to be, then this may be of interest to them.

happyvoid

So are you saying the rep put you under financial review? before you called your account did not say anything and it was working fine?

happyvoid

so what ended up happening? Was it a financial review