Amex app mistake

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CCWarrior
 
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Joined: Thu Mar 02, 2017 3:27 pm

Amex app mistake

Postby CCWarrior » Thu Mar 02, 2017 4:48 pm

I made a dumb/noob mistake when I was new to the CC world although it's been a year now. I app'd for Amex ED card last year and on the income I stated 30k when I actually made 20k based off W2. However the 10k difference comes from me having a high interest online savings account with $10k that sits there collecting interest and I never touch that money. I since learned you're not supposed to consider that money on the app and realized I made a mistake.

Late last year Amex sent me a Skymiles gold card offer which I app'd and this time I put my correct 20k on income and was approved so no issues there. Now I'm seeing that Amex does FRs/income verification and I'm worried I'll get one sometime and they'll see one app matches while the other is off by 10k. I don't want to lose my MRs by them closing my account because of this. Is there a proper way to come forward with this and explain to Amex what happened? Should I close my ED account wait a few months and reapply?

Other info-
1yr history with Amex, scores in mid 700s, always PIF, under 10% util, no baddies.


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Vattené
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Re: Amex app mistake

Postby Vattené » Fri Mar 03, 2017 8:33 pm

I'd just update the financial information online and not worry about it too much. You can also add the $10K from the savings account to asset information. I doubt anything would come of it anyway, but if they were to call you can just explain it was an honest mistake. You aren't likely to get an FR unless you're doing something shady or unusual with your card. You have a year of clean history and presumably haven't done anything to raise a red flag with them. But on the offchance they do want income verification, you can provide that to them and be honest.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

CCWarrior
 
Posts: 2
Joined: Thu Mar 02, 2017 3:27 pm

Re: Amex app mistake

Postby CCWarrior » Sun Mar 05, 2017 3:19 pm

I went into my account settings and changed my income and entered assets. Never done anything shady with my card I use it as intended/as normal as you could make it out to be. I can understand if I had entered 50k or some other much higher number then that's an obvious lie and nothing but trouble if anything was checked. I like my card and don't want to lose my MRs so I'm hoping that my good history and an honest explanation will set things straight if it does happen.

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Vattené
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Re: Amex app mistake

Postby Vattené » Fri Mar 10, 2017 3:25 pm

I doubt you even come up on their radar, but as you say you have a clean history with them and can explain just in case anything does happen...but I don't think it's likely :cheers:
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

TXviking
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Re: Amex app mistake

Postby TXviking » Sat Mar 25, 2017 6:49 am

Don't worry too much about it. Banks use income self-verification to set credit line caps and such, but while honesty is the best policy, banks don't trust customers all that much on self-reported income. If your spending is way out of line with your income bracket, they sometimes ask for verification (tax return/pay stubs etc) but that is unusual. In your case, the discrepancy is small and really no big deal. Don't make a mountain out of a mole hill. :cheers:



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