Author Topic: Amex F/R Master Thread (Read 2290792 times)

dans fan · « **Reply #480 on:** July 04, 2011, 07:23:39 PM »

cant imagine anything

aryeh1 · « **Reply #481 on:** July 05, 2011, 01:32:08 AM »

Quote from: easy48 on July 04, 2011, 04:08:52 PM

So is there a rule of thumb as to how much credit to avoid accumulating so as not to be FR'd?

Yes, dont have any amex cards

easy48 · « **Reply #482 on:** July 05, 2011, 10:25:08 AM »

Quote from: Matityahu on July 04, 2011, 05:26:57 PM

I think it is more just conjecture and speculation, but years ago, some forums suggested keeping total credit lines with AX under $25K, and even suggested that any credit lines showing up on your report over $25K, could be a factor in getting FR'd.

Another guess of mine, is that AX uses a "points" system to trigger a FR, with each factor being weighted, and if you go over a certain number of "points", it triggers a FR.

Any idea what AMEX considers the Platinum and gold where there are no specific amount of credit listed on the account? SPG for example tells me how much but I also have Plat and Gold. I would want to apply for more soon but DO NOT want to get an FR. Ideas?

ChMo · « **Reply #483 on:** July 05, 2011, 02:12:15 PM »

Quote from: easy48 on July 05, 2011, 10:25:08 AM

Any idea what AMEX considers the Platinum and gold where there are no specific amount of credit listed on the account? SPG for example tells me how much but I also have Plat and Gold. I would want to apply for more soon but DO NOT want to get an FR. Ideas?

I don't know how, or if, their charge products are factored into "total AX credit exposure". You can use their "Check Your Spending Ability" tool, which appears on the AX website on your Summary of Accounts page, directly under the picture of each card you have. This will give you an idea of your internal credit limit for your charge cards.

As far as getting FR'd - statistically, you should be fine, as only a smallish percentage of folks get FR'd. And it seems that most folks getting FR'd, either changed their spending patterns, asked for a credit line increase, or did something that AX considered higher risk behavior. Some people swear they did nothing to get FR'd, but that seems like the minority.

One idea, is to cancel the AX cards you don't need or use.

Personally, I just stopped worrying about it. If it happens, it happens. If you get FR'd, give 'em your 4506-T if your tax return income is reasonable. Or, cancel all your cards yourself the same day, if your tax return can't hang. Then re-apply when your tax return is strong. Or even if it's not strong, since some people don't get re-FR'd, after they cancel and re-apply in the future. If you let AX cancel your cards, though, by simply ignoring their FR, you will probably immediately get FR'd upon future re-application. And, your credit report will show "closed by grantor". It is more favorable to have your credit report show "closed by consumer".

easy48 · « **Reply #484 on:** July 05, 2011, 02:16:32 PM »

Quote from: Matityahu on July 05, 2011, 02:12:15 PM

I don't know how, or if, their charge products are factored into "total AX credit exposure". You can use their "Check Your Spending Ability" tool, which appears on the AX website on your Summary of Accounts page, directly under the picture of each card you have. This will give you an idea of your internal credit limit for your charge cards.

As far as getting FR'd - statistically, you should be fine, as only a smallish percentage of folks get FR'd. And it seems that most folks getting FR'd, either changed their spending patterns, asked for a credit line increase, or did something that AX considered higher risk behavior. Some people swear they did nothing to get FR'd, but that seems like the minority.

One idea, is to cancel the AX cards you don't need or use.

Personally, I just stopped worrying about it. If it happens, it happens. If you get FR'd, give 'em your 4506-T if your tax return income is reasonable. Or, cancel all your cards yourself the same day, if your tax return can't hang. Then re-apply when your tax return is strong. Or even if it's not strong, since some people don't get re-FR'd, after they cancel and re-apply in the future. If you let AX cancel your cards, though, by simply ignoring their FR, you will probably immediately get FR'd upon future re-application. And, your credit report will show "closed by grantor" instead of "closed by consumer", which is less favorable.

Seems like sound advice. Much appreciated. Thanks!

Nitantnel · « **Reply #485 on:** July 06, 2011, 10:38:17 PM »

What do you guys think of a fake 1040 to send to amex, would that work?

aryeh1 · « **Reply #486 on:** July 06, 2011, 11:19:47 PM »

Quote from: Nitantnel on July 06, 2011, 10:38:17 PM

What do you guys think of a fake 1040 to send to amex, would that work?

go for it!
They make you fill out a 1040 request form that goes to the irs (you dont send the 1040). The irs wont send them your 1040 if any info is incorrect.

AsherO · « **Reply #487 on:** July 07, 2011, 12:21:08 AM »

Quote from: Nitantnel on July 06, 2011, 10:38:17 PM

What do you guys think of a fake 1040 to send to amex, would that work?

Wishful thinking, not happening.

Quote from: aryeh1 on July 06, 2011, 11:19:47 PM

go for it!
They make you fill out a 1040 request form that goes to the irs (you dont send the 1040). The irs wont send them your 1040 if any info is incorrect.

They make you fill out 4506-T, which is a release for the IRS to give them transcripts of whatever form(s) they want to see..

aryeh1 · « **Reply #488 on:** July 07, 2011, 12:45:01 AM »

Quote from: AsherO on July 07, 2011, 12:21:08 AM

Wishful thinking, not happening.

They make you fill out 4506-T, which is a release for the IRS to give them transcripts of whatever form(s) they want to see..

they can only see your account summary-which is only your finanial info as the box is automatically filled on the 4506t. As far as i know you can provide any type of tax return,it doesnt have to be 1040.

AsherO · « **Reply #489 on:** July 07, 2011, 12:51:16 AM »

Quote from: aryeh1 on July 07, 2011, 12:45:01 AM

they can only see your account summary-which is only your finanial info as the box is automatically filled on the 4506t. As far as i know you can provide any type of tax return,it doesnt have to be 1040.

What box?

daganster · « **Reply #490 on:** July 17, 2011, 12:06:22 PM »

I applied for a platinum amex 4 months ago. They requested that I fill out a 4506 for and have my banker confirm my home address, so I complied with all their requests. 4 months later I get approved and they send out a card (which I haven't yet received), but I'm being financially reviewed again!!! I'm not sure why they would ask me regarding my employment if they have my tax returns. It's really annoying, and I don't want to go through this whole hassle again. Isn't this bizarre? Are they losing it?

myb821 · « **Reply #491 on:** July 17, 2011, 12:14:06 PM »

Quote from: daganster on July 17, 2011, 12:06:22 PM

I applied for a platinum amex 4 months ago. They requested that I fill out a 4506 for and have my banker confirm my home address, so I complied with all their requests. 4 months later I get approved and they send out a card (which I haven't yet received), but I'm being financially reviewed again!!! I'm not sure why they would ask me regarding my employment if they have my tax returns. It's really annoying, and I don't want to go through this whole hassle again. Isn't this bizarre? Are they losing it?

call them and ask tel them u just went through this why r they doing it again

aryeh1 · « **Reply #492 on:** July 17, 2011, 12:19:24 PM »

Quote from: AsherO on July 07, 2011, 12:51:16 AM

What box?

on the 4506t form-theres a selection for which type of transcript requested.

AsherO · « **Reply #493 on:** July 17, 2011, 11:56:20 PM »

Quote from: myb821 on July 17, 2011, 12:14:06 PM

call them and ask tel them u just went through this why r they doing it again

+1

Hey Daganster, sorry to hear about all the drama.

Wishing you g'luck with your F/R, try what myb821 suggested, and please let us know what they say.

daganster · « **Reply #494 on:** July 18, 2011, 07:12:22 AM »

Thanks guys, and I'll keep you posted.

bruce · « **Reply #495 on:** July 18, 2011, 06:56:23 PM »

been reading this forum today. Seems like the best way to avoid F/R is to have your limit under 25k. Is that per card or all Amex cards total?

AsherO · « **Reply #496 on:** July 19, 2011, 02:45:44 AM »

Quote from: bruce on July 18, 2011, 06:56:23 PM

been reading this forum today. Seems like the best way to avoid F/R is to have your limit under 25k. Is that per card or all Amex cards total?

Best way is not to have Amex cards

(HT to whomever originally coined that response)

Seriously, there are a lot of possible F/R triggers, play safe and you'll probably be spared.

ChMo · « **Reply #497 on:** July 19, 2011, 03:26:46 PM »

Quote from: AsherO on July 19, 2011, 02:45:44 AM

Best way is not to have Amex cards

Hahahahahaha!

Avid Reader · « **Reply #498 on:** July 20, 2011, 04:57:16 AM »

Sure, best way to avoid getting hit by a car is to never cross the street

bem684 · « **Reply #499 on:** July 20, 2011, 12:09:55 PM »

Quote from: Avid Reader on July 20, 2011, 04:57:16 AM

Sure, best way to avoid getting hit by a car is to never cross the street

I live in Monsey. I have to avoid parking lots and sidewalks as well.

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Author Topic: Amex F/R Master Thread (Read 2290792 times)