How To Avoid Amex Financial Review
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- čas přidán 27. 05. 2024
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Thanks for this video. I remember years ago, many bloggers and other creators would post about these financial reviews (many because they were going thru them at the time), but recently was curious as I hadn't heard much about them.
Excellent video!
Beautiful video, great job Cal !
Thank you very much!
The idea they have a button to check what you can do but using it too much can screw you just sucks.
I didn't know what the CSP button was until this video. I always see it when i log in to my account, just never gave it much thought.
I just ask for a CLI and they hit me with link my bank account I did that crap in 5 min flat and after 3 day they approved my CLI.
Congrats on increasing your limit.
I opened an Amex Blue Perfered on Dec 23 with 2000 limit 3 months later now I have 5000.
You are boss
OMG I road that button like a bronco the first couple months I go it. THANK GOODNESS, someone a couple years ago said it was a major trigger and now I dont.
this reminds me of something my ex said
Straight fire 🔥
Every credit card should require documentation before approval. People abusing the honor system will ruin it for everyone.
I think they like when people lie because it means as a company they can’t take advantage of your stupidity and make money from you. But when they see it possibly not going in their favor they decide to make sure everything is in order.
I disagree, a credit card is not an application for a mortgage. There's a reason sone people get a large credit limit and some don't. , or why some people only can get secured cards. I would hate to have to provide documentation for a coti double cash or a Sapphire student starter card.
How much does net worth play in a American Express financial review? Because of an inheritance in 2020 my net worth is about 10 times my annual earned income. I notice American Express is the only credit card I have that gives you the option to report your net worth.
You know i haven't come across somebody in your situation yet, but i imagine they would your net worth since there's a dedicated box for it.
They count it for payment if it is held in an account they can have visibility to and for any invitations they might send you.
Well that’s not true as a lot of let you report that information too. 😂 that’s too risky only having amx as not everyone takes amx.
@@JohnSmith-ij4xe American Express is not my only credit card but it's the one I have the highest credit limit
Great video
Glad you enjoyed it
If I make several payments a month on my account gold plat green say $500 here for $700 there several times a month. I dont like to end up with $5K balance, but take a bite out of my balance as I go along. Is this a issue?❓⁉
If the $5k amount is within your normal range of monthly spending then you should be fine paying as you go.
- in my experience they seem to like like that as it demonstrates you can handle the charges you make. I do this all the time on my cards
Are financial reviews only for Charge Cards? Or all their cards across the board ?
I have been with AMEX for 35 years. I have never heard of a review or been involved in such a review. Perhaps it maybe because I am a Canadian Card Holder?
Yuh
Hello, I'll try to keep this short. First things first, paid off my bal. on my Green card every month and in good standing. We went to Seattle for a game. Used my card on dinning. the next day they cut my line by 1K? There reason was a lower credit score. I used a Discover card for vehicle service at $2800 for repairs and I moved into a brand new apartment which resulted in a credit inquiry. Thank you for the video.
That’s a bummer. My score has dropped to 640 from 720 because of holding a big balance on my Citi card but payed off in 2 months. Fortunately Amex never gave me grief. I have 3 business cards, Gold and BCE with Amex. I’ve ran 10s of thousands through my Amex cards but have eventually always paid to $0. It varies from person to person
@@77Joseph777 Thank you, It's a work in progress for me LOL.
I recently got hit with a financial review by AMEX and they lowered my limits on both my business Gold and Platinum cards. I'm wondering about the future; now that I've submitted all documents and completed the review process, can this happen again? I got the review for high-velocity spends in the first place. Would like to avoid it going forward if it's even a possibility again.
Thanks for this video man. I have four Amex cards as well as a business line of credit. American Express has been very good to me. And I don’t want to do anything to fuck that up. So your information was very valuable. Thanks.
Kudos is US centric and does not work abroad?
I got approved for the green card a month and half ago ,but i did went alittle over board with my annual income but currently i spend like $600 month on my green card so far but made several bill pay before each statement due date ! Should i call and correct my income or just leave it alone!😢
The return payments really doesn't make sense as you still must pay it sooner or later
Last Nov charged 4k, idiots said if you don't make a 1k dollar payment, your CL may be lowered... balance was 4300 with the 4K... I was like WTF.. CL at the time was 13k... had to make the 1k payment...
What about ebay or PayPal purchases? Ok😢
Can you include your wife income on an application ?
Unless someone else knows more than me, I believe you can as long as you have reasonable access to the money your wife makes. At least that is how every other card issuer considers total household income.
And now I know I will probably never apply for an Amex card
Or just don't bother w/Amex. They're not worth the Annual Fees or headaches.
They have annual fee free cards
@tesla82111 I'm a long-time (2003) Amex consumer via Delta Skymiles. So I'm very familiar w/their eco system. However, these past two years they've changed their Biz model & I'm over it. They're not even top-tier. I'm out✌🏽
I disagree I love my Amex cards you have to be able to afford the fees on the card or get the fee free cards
Amex is great as long as you actually have money and aren't faking it.
AmEx is very picky but their customer service is 2nd to none & they have some great cards.
please tell me that's just for their regular cc's, if they also do a financial review for high spends on their business cc's that's just retarded because bcc's are meant to have high spends on them.
It’s not so much high spends, rather it’s spending behavior that they deem out of the ordinary for you, outside your income level, or otherwise risky. Amex has intimate data on spending since they’re both the lender and the payment network, and their algorithm will flag accounts when something is out of the ordinary.
But spend normally and it won’t get flagged. If it’s normal for someone to spend millions on an Amex card and it gets paid regularly, then it probably won’t trigger a review. People have had Amex cards for decades and have never gotten one.
Who owns Amex
Warren Buffett’s company Berkshire Hathaway is the largest shareholder of Amex.
They just increased my limit and my credit suck ass