Huzordaddy

This question makes me smile. Just don't make multiple purchases for the same amount back to back or it might trigger a fraud alert.

Szamboti

As others have stated, CVS is a 5k limit per day.

If you plan to run up 40% of your overall CL be careful not to let your statements close with that much utilization on your CL as it will result in a hit to your FICO. There are alot of people on FT that ms 3x-4x their CL, but again its all about risk management. Did you accurately represent your income? Then an FR will not likely result in too much. If you didnt accurately represent your income then an FR is alot more risky and as such you should weigh that in risk management.

Mamibear

cause red flag to amex? unlikely
cause red flag to store? you are the best person to answer that based on your relationship with store management and staff. if they know you, most unlikely.

here's what I call a penny trick that has worked well for me to dodge a fraud alert from any CC when doing a series of same amount transactions:

1. charge full amount to card
2. give cashier a penny and then charge 504.94 to card
3. give cashier a nickel and then charge 504.90 to card

it has not rejected my payments on the same card because they are different amounts.

ftomasze

To me, this is more suspicious than 3 transactions of the same amount back to back.

DeltaNeutral28

I see a lot of people talking about income and there are plenty of ways to make money besides earned income on your W2. How do you know I don't have an uncle who left me 3 mil a few years ago. How do you know I didn't buy 25k worth of a small Biotech stock 5 years ago that has risen 100x?? Any individual can give you 14k per year and it is not taxable on your end..... What does earned income have to do with these??

RFDMinnesota

Because that's all the Spanish Inquisition cares about!

hamhead

4506-T requests a complete tax return, not just W2 earnings. Capital gains/dividends/etc. will be included. If you've got a sizeable inheritance or large stock holdings it isn't going to be invisible.

You are also free to include account statements or anything else you'd like in support of your FR to AmEx to show ability to repay.

DeltaNeutral28

First, credit cards can shut you down for anything, that's not who I was talking about. How would anyone (credit cards included) get the whole picture off of one year's return. I could have gifts from ten years ago that were monetarily significant. What you mentioned also doesn't take into account the 14k I can get from any individual(s) on a per year basis. How does one know I don't have 20 friends each that give me 14K per year? Again, not in reference to Amex as they don't need a reason to shut you down, more along the lines of the real muscle.

jcohen73

As someone who has gone through a FR with amex, I can tell you the only thing they care about is your income as reported to the IRS (2 years worth). They do not care if you have 10 relatives giving you 50k each unless it is reported somehow on your tax return. They absolutely do not want any support showing you have big $s in financial accounts as they don't look at that either. Why I do not know, but I offered financial statements showing assets and they flat out said they didn't want or care about them.

I also know people who have had their credit lines closed and cut by amex as a result of the FR.

makinbutter

this.

also known people who could not open future accounts as a result of FR, and others who had future accounts have ridiculously low credit lines (e.g., $500)

djtsukasa

But the only people that had closures were... who? Misrepresenters, right?

flatseatlover

You guys are taking manufacturing spend to a whole new level. $13-18k in one day, really guys?

VizeL

Generally I believe so. If your stated income matches your tax returns, I doubt they'd do anything.

However the lady told me at the time that if I complied and sent in the form, there would be absolutely no account closure and the worst that can happen is my credit limit would be lowered

This is simply her words though

Happy

My experiences are vastly different than yours. I actually buy some stuff together with the transaction on each one. But back to back, or even same day / next day, would fail with certain banks.

Does not work with FIA Fidelity card. Back to back with very different amounts (over $20) has the 2nd transaction rejected. Called into Fraud Alert direct 800 number (by pass the front line rep) and a human being would answer, then clear the block. Yes, s/he told me back to back has a very high likelihood to be declined. (actually in my experiences, 100%).

No idea about AMEX but I know it does not work with BofA cards, nor Citi cards.

What I have found would work better is, wait till previous transactions POSTED, then it seems to put fraud alert at bay. So rotating your cards is a good strategy to consider.

Happy

It might depends on how long a history you have with AMEX which seems to care about that, too. Also it seems if your financial assets are at AMEX, then they give you some consideration of such. The FR thread in AMEX forum has reports along those lines. Posters who use financial assets proof without giving the 4506T have much more favorable experiences versus yours.