Today I got a call at work from Amex saying that I was under financial reveiw. She asked to fax in a copy of my last 3 paystubs and last 3 bank statment. The thing is that I live at home so as the app ask I state my HH income, but my own personal income is only 1/4 of that. Why do you guys think this happened? How may this affect me in any way? Also I don't keep much money in my checking so will that be a prob? I don't know what to do. Right now I have a Gold Plus charge, a $2000 Starwood, and a $4000 Delta that I want to transfer to a Optima Plat. Do you think they might lower my CLs? Please advise...Thanks
IF THEY ASK FOR H/H INCOME...by all means give them H/H INCOME!!! They may "THINK" you may be over-extended... THEY MAY BE ON A FISHING EXPEDITION 3 BANK STATEMENTS AND 3 PAY STUBS...THAT IS A LITTLE OVER THE TOP THEY PROBABLY DIDN'T ASK FOR PAY STUBS AND BANK STATEMENTS WHEN YOU APPLIED!!!
Although I'm not necessarily advising this but here's a thought. Dear Amex, New laws have been enacted which protect the privacy of an individuals personally identifiable financial information. I have the right to ask you, prior to turning over the records you request, to obtain in writing the following; 1) What is your specific purpose for requesting these records. 2) What could be the ramifications, pro and con, of my furnishing same? 3) What will happen if I refuse? 4) Specifically what do you intend to do with these records after you are finished with them? 5) To whom will you sell, transfer, give, show, other otherwise make available these records for review? 6) Please explain to me exactly what is meant by the term "financial review". Optional: You might also explain why you can't get what you need when you pull my CR. Once you answer each question in turn, in writing, on your letterhead, hand signed, I shall be happy to consider your request. Warmest Regards, HJ83 They might just forget the whole thing. lol .
Know what, come to think of it I might go this route first; Dear Amex, On xx/xx/xxxx I received a most astonishing phone call from a woman who claimed to be from your company. She requested the most god awfully intrusive financial records from me, to include, copies of my pay stubs, bank account statements etc., etc., etc.. With ID Theft the fastest growing crime in the history of the human race, I don't believe I'd be out of line to confirm with you in writing who this person is, that this person really needs this personal information, or for that matter why in the world you would make such a request over the phone, rather than in writing. Optional: I am very disturbed that a company with Amex's reputation would even consider conducting business in such a manner. And all after leading MANY of my friends to your company. Am I missing something? Regards, H And then wait & see what happens. .
Well I called them today and spoke to someone in credit op dept, he said that if it was going to be a problem for me to send in that info I can just call my bank with him on the line so that he can get all the info from the bank since I have direct deposit. I had to ask for my last 3 months ending balance and the amount of the last 3 deposit from my employer. He then said that he will set a guideline of $1000 on my gold card and keep the other 2 as is. I asked him to set it to $1500 and he said ok. He said that will stay for at least 6 months. Also he told me the reason was that I had submited too many applications within a short amount of time and that made it send it to the credit operations dept. I guess they are trying to helpme because that way I can't get over my head and not be able to pay. I will continue to use AMEX exclusively unless where AMEX is unfortunatly not accepted, but that was just a pain. They said that I can submit my parents financials as well if I wanted it to be considered but I'm not going to do that. I have their number so if anything I'll call them back. He was nice about it unlike the person that called me. The thing is that the app that red flagged it was an app to add my parent as AU on my gold card. He said that it was showing as a reg app for credit but he called and was told that it was not. All my calls to CS were being transfered right to their dept. He told me that my account has now been released and that I can continue using it. He said that my account in general would not be affected other then for that guideline and that he didn't touch my other 2 accounts. I know that I will not be using more then $1500 as I don't have much expenses other then all the crap I buy cuz I have nothing else to do with my money. So lets hope that in 6 months I don't hear from them and they are able to up my "limit". I will mostly use the Starwood and the Delta which I will be calling it to upgrade to an Optima Plat as soon as it comes in.
Re: Re: Amex gurus please advise... WHEN THEY ASK FOR H/H INCOME---USE IT!!!! AMEX USES A RANGE OF INCOME...
Re: Re: Amex gurus please advise... I wish I had gottin this letter sooner I would of had sent them this instead of calling in. Thanks for your info both of you. I will make sure to wait for replies before doing something dumb like call them back next time. But I guess it was resolved, but I agree it is not a good thing to conduct these type of "reviews" over the phone. Plus she just gave me a fax number to send it to and asking for me to include my card account numbers with all of it, And she did not want to give me her first name just the last name, yeah right. As soon as I got home the first thing I did was call to ask if it was really them, and it was my call went right to them when I called CS.
Yeah, I don't think they have any evil intentions. I just would be careful about all that info. And you have a right to be too. . Edit: "I wish I had gottin this letter sooner" It didn't exist. I just typed it.
Re: Re: Re: Amex gurus please advise... They said that it was showing up as one. And when I check the online status page it is showing on their. I called new accounts to make sure that it was not a reg app they said no and that when I submit my AU online it creates it as one but no files are pulled it just goes to them so they can add it to the account.
