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
Aug 4, 2018, 12:33 pm
#781
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
How long have you held a USA-issued American Express card?
Something about your credit file or card utilization does seem to attract attention:
Something about your credit file or card utilization does seem to attract attention:
Last edited by mia; Aug 4, 2018 at 12:45 pm
Aug 19, 2018, 5:33 am
#782
Join Date: Aug 2018
Posts: 6
I buy my GCs in variable amounts from $480-$500 from a non-L3 reporting supermarket to meet MSR on an Amex Biz Plat. While I understand that the non-L3 reporting will stop any sort of automated clawback of my bonus, it’s as clear as day to any human looking at my transaction history that I’m buying ~$500 GCs from this market.
If I am put under an Amex Financial Review in the future, are they likely to clawback the bonus that I am working on now?
If I am put under an Amex Financial Review in the future, are they likely to clawback the bonus that I am working on now?
Aug 19, 2018, 10:10 am
#783
FlyerTalk Evangelist
Join Date: Aug 2005
Location: BOS/EAP
Programs: UA 1K, MR LTT, HH Dia, Amex Plat
Posts: 32,026
I buy my GCs in variable amounts from $480-$500 from a non-L3 reporting supermarket to meet MSR on an Amex Biz Plat. While I understand that the non-L3 reporting will stop any sort of automated clawback of my bonus, it’s as clear as day to any human looking at my transaction history that I’m buying ~$500 GCs from this market.
If I am put under an Amex Financial Review in the future, are they likely to clawback the bonus that I am working on now?
If I am put under an Amex Financial Review in the future, are they likely to clawback the bonus that I am working on now?
Aug 19, 2018, 10:45 am
#784
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
USA: MR points transfer blocked, account being reviewed [Consolidated]
Buying giftcards does violate the terms:
Eligible purchases do NOT include fees or interest charges, purchases of travelers checks, purchases of reloading or prepaid cards, purchases of gift cards, person-to-person payments or purchases of other cash equivalents. ....
If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with the welcome offer in any way or that you intend to do so (for example, if you applied for one or more cards to obtain a welcome offer (s) that we did not intend for you; if you cancel or downgrade your account within 12 months after acquiring it; or if you cancel or return purchases you made to meet the Threshold Amount), we may not credit Membership Rewards® points to, we may freeze Membership Rewards® points credited to, or we may take away Membership Rewards® points from your account. We may also cancel this Card account and other Card accounts you may have with us. American Express reserves the right to modify or revoke offer at any time.
If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with the welcome offer in any way or that you intend to do so (for example, if you applied for one or more cards to obtain a welcome offer (s) that we did not intend for you; if you cancel or downgrade your account within 12 months after acquiring it; or if you cancel or return purchases you made to meet the Threshold Amount), we may not credit Membership Rewards® points to, we may freeze Membership Rewards® points credited to, or we may take away Membership Rewards® points from your account. We may also cancel this Card account and other Card accounts you may have with us. American Express reserves the right to modify or revoke offer at any time.
Last edited by mia; Aug 19, 2018 at 10:50 am
Aug 24, 2018, 1:39 am
#785
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
I've been a card member in good standing for some thirty years, only to discover my account temporarily suspended pending a financial review of my tax returns. I'm pretty pissed off about it and may not even respond as I don't appreciate the way it's been handled and I was on the fence about keeping the card anyhow; it's the SPG which is being transitioned now. Anyhow, I'm told my account could be closed permanently if the tax form is not received within 2 weeks. I was also told that this was just "standard procedure" and they're updating records and requesting the same from all accounts, which sounds pretty suspicious/doubtful. I can't believe that they've frozen my account in the interim and that they did so w/o reason warning or apology. Just wondering if anyone else has experienced this?
Oct 16, 2018, 8:53 pm
#786
Join Date: Oct 2018
Programs: Uhhhhh
Posts: 12
Newb question: I'm a greenhorn to MS and made two large GC purchases with Business Gold Amex. A third was declined, triggering FR—which annoys me, but here we are.
The difficulty is in providing the requisite forms. I'm self-employed, so my income is substantially higher than what I report, and I've had a downturn due to difficult personal circumstances over the last two years.
Would it be possible to negotiate the 2017 tax return into a 2016 or 2015 tax return?
Better yet, could I show a pile of liquid assets instead?
The CSR seems vaguely unfriendly.
Thanks, guys,
The difficulty is in providing the requisite forms. I'm self-employed, so my income is substantially higher than what I report, and I've had a downturn due to difficult personal circumstances over the last two years.
Would it be possible to negotiate the 2017 tax return into a 2016 or 2015 tax return?
Better yet, could I show a pile of liquid assets instead?
The CSR seems vaguely unfriendly.
Thanks, guys,
Oct 16, 2018, 8:59 pm
#787
Join Date: Jun 2002
Location: California USA
Posts: 652
Newb question: I'm a greenhorn to MS and made two large GC purchases with Business Gold Amex. A third was declined, triggering FR—which annoys me, but here we are.
The difficulty is in providing the requisite forms. I'm self-employed, so my income is substantially higher than what I report, and I've had a downturn due to difficult personal circumstances over the last two years.
Would it be possible to negotiate the 2017 tax return into a 2016 or 2015 tax return?
Better yet, could I show a pile of liquid assets instead?
The CSR seems vaguely unfriendly.
Thanks, guys,
The difficulty is in providing the requisite forms. I'm self-employed, so my income is substantially higher than what I report, and I've had a downturn due to difficult personal circumstances over the last two years.
Would it be possible to negotiate the 2017 tax return into a 2016 or 2015 tax return?
Better yet, could I show a pile of liquid assets instead?
The CSR seems vaguely unfriendly.
Thanks, guys,
Last edited by mia; Oct 20, 2018 at 9:25 pm
Dec 23, 2018, 1:26 pm
#788
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
does applying for 2 charge card and 1 credit card in a single month trigger financial review? i read if you apply for too many cards at once it may trigger FR. just wondering if anyone ever had this happen
Dec 23, 2018, 1:37 pm
#789
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
I assure you it's happened. Logged in this a.m. to find an alert: "Charging suspended. Please call 1-800-678-0738 if we haven't already spoken with you."
Had no idea what it was about until I ended up on a recorded line w/ someone from lending asking me to update my profile info (tel, email, address, work info, etc) and then was informed that I needed to submit a tax form to restore the account. When asked why account use has been suspended, the rep acknowledged that I had a perfect track record, no missed or late payments, etc. but also indicated that there was no financial records on file and that it's the biggest factor in any line of credit and AmEx is now doing this w/ all accounts and I'm not being singled out. It sounded like BS to me.
Here's what it says in the email I received:
"American Express recently requested that you complete and return a tax form called the 4506T in order to conduct a financial review. The 4506T authorizes American Express to retrieve tax information. We find the review process to be a necessary requirement in order to conduct our business in a prudent and successful manner.
Detailed instructions on how to fill out the 4506T are attached, as well as in the American Express Fax Cover Sheet. In order to avoid closure of the account, it is critical that this information be completed correctly and faxed back to us within the deadline discussed by the American Express representative."
Had no idea what it was about until I ended up on a recorded line w/ someone from lending asking me to update my profile info (tel, email, address, work info, etc) and then was informed that I needed to submit a tax form to restore the account. When asked why account use has been suspended, the rep acknowledged that I had a perfect track record, no missed or late payments, etc. but also indicated that there was no financial records on file and that it's the biggest factor in any line of credit and AmEx is now doing this w/ all accounts and I'm not being singled out. It sounded like BS to me.
Here's what it says in the email I received:
"American Express recently requested that you complete and return a tax form called the 4506T in order to conduct a financial review. The 4506T authorizes American Express to retrieve tax information. We find the review process to be a necessary requirement in order to conduct our business in a prudent and successful manner.
Detailed instructions on how to fill out the 4506T are attached, as well as in the American Express Fax Cover Sheet. In order to avoid closure of the account, it is critical that this information be completed correctly and faxed back to us within the deadline discussed by the American Express representative."
Apr 18, 2019, 7:24 pm
#791
Join Date: Dec 2010
Posts: 1,516
Missed a call from AMEX (801-XXX number). Voicemail was left, asking to call back to 855-xxx number. The guy wasn't available, but welcome message was like from Business services. Am I in trouble? I have few business AMEX, which I use heavily (50% of CL) - all MS spending.
I am wondering what is this all about. Charging is not suspended. Is it a FR?
I am wondering what is this all about. Charging is not suspended. Is it a FR?
Apr 18, 2019, 8:04 pm
#792
Join Date: Aug 2013
Posts: 171
Newb question: I'm a greenhorn to MS and made two large GC purchases with Business Gold Amex. A third was declined, triggering FR—which annoys me, but here we are.
The difficulty is in providing the requisite forms. I'm self-employed, so my income is substantially higher than what I report, and I've had a downturn due to difficult personal circumstances over the last two years.
The difficulty is in providing the requisite forms. I'm self-employed, so my income is substantially higher than what I report, and I've had a downturn due to difficult personal circumstances over the last two years.
Apr 19, 2019, 7:00 am
#793
Join Date: Jan 2010
Posts: 698
Missed a call from AMEX (801-XXX number). Voicemail was left, asking to call back to 855-xxx number. The guy wasn't available, but welcome message was like from Business services. Am I in trouble? I have few business AMEX, which I use heavily (50% of CL) - all MS spending.
I am wondering what is this all about. Charging is not suspended. Is it a FR?
I am wondering what is this all about. Charging is not suspended. Is it a FR?
Apr 19, 2019, 7:10 am
#794
Join Date: Dec 2010
Posts: 1,516
Apr 19, 2019, 7:18 am
#795
Join Date: Jan 2010
Posts: 698