Would you accept F/R?

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Crashem
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Postby Crashem » Thu Jun 07, 2012 5:34 pm

Its unclear how to get centurion at the moment. Current rumor is only certain types of expenses (hotel travel etc) count towards getting centurion.

As for getting F/R, I have significant documented income that is actually higher than what I put on the application. My assumption is that they knew my income and would stop me from spending when they felt uncomfortable. If I got F/R, I would pass. Even if they put hard cap on it, it wouldn't really matter. I would just put that much through and have business pay and then wash and repeat. BTW, this is how a bunch of people I know got centurions back in the day. They could easily spend 100-150k on google advertising a month.

I stopped doing it however as I like UR points a bit more at the moment. Using INK and Palladium for points. Its a little of a pain as our advertising vendors typically complain if I use credit cards too much because of the fees.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k


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Cyberius
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Postby Cyberius » Thu Jun 07, 2012 6:10 pm

Crashem wrote:Its unclear how to get centurion at the moment. Current rumor is only certain types of expenses (hotel travel etc) count towards getting centurion.

As for getting F/R, I have significant documented income that is actually higher than what I put on the application. My assumption is that they knew my income and would stop me from spending when they felt uncomfortable. If I got F/R, I would pass. Even if they put hard cap on it, it wouldn't really matter. I would just put that much through and have business pay and then wash and repeat. BTW, this is how a bunch of people I know got centurions back in the day. They could easily spend 100-150k on google advertising a month.

I stopped doing it however as I like UR points a bit more at the moment. Using INK and Palladium for points. Its a little of a pain as our advertising vendors typically complain if I use credit cards too much because of the fees.


See, I have no interest in getting the Centurion. I just have significant business expenses I can pass through the card which would add up to more than my yearly income. I just don't want to raise red flags unnecessarily. If I can prove additional income with expense checks then I have no problem. If they only want tax returns then the income would not be documented there as it is not taxable income.

Crashem
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Postby Crashem » Thu Jun 07, 2012 6:54 pm

Cyberius, I think you would be okay. If F/R, they would ask for tax transcripts. You would just need to explain to them the business expenses and provide proof. I think the risk of F/R hassle assuming income matches app income for all those points :)
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

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Cyberius
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Postby Cyberius » Thu Jun 07, 2012 7:29 pm

Crashem wrote:Cyberius, I think you would be okay. If F/R, they would ask for tax transcripts. You would just need to explain to them the business expenses and provide proof. I think the risk of F/R hassle assuming income matches app income for all those points :)


Gotcha. That's good to know. App income will match tax returns 100%. Expense income proof is all available at a moment's notice. Brokerage account, IRA, and money market statements all easily available. I just don't want them to complain or shut me down unexpectedly while traveling when / if my spending exceeds yearly income, even with 100% on time payments.

Crashem
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Postby Crashem » Thu Jun 07, 2012 7:39 pm

Cyberius,

To give you idea, I probably put 500k on Plat card in 6 months and stated income is little less than that. No problems or hiccups once I got my internal limits up. Although I tended to pay charges off so probably no more than 70k outstanding at any time.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

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Cyberius
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Postby Cyberius » Thu Jun 07, 2012 7:53 pm

Crashem wrote:Cyberius,

To give you idea, I probably put 500k on Plat card in 6 months and stated income is little less than that. No problems or hiccups once I got my internal limits up. Although I tended to pay charges off so probably no more than 70k outstanding at any time.


Great! That's good info. I typically pay 2x per month, I try to keep balances down. Appreciate it.

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FastSRT8
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Postby FastSRT8 » Fri Jun 08, 2012 1:15 am

Very interesting thread. I wonder what percentage of these FR comes or gets called on new users? If you have been with them for many years AND are in good standing, I can't see them doing this to you. It's like asking your most loyal customer (thru good and bad economic times) to prove their wealth? That's weird. IF you are religiously making all your payments, this should not happen. Just make sure you MAKE your payments... then this should not be an issue.
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MemberSince99
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Postby MemberSince99 » Fri Jun 08, 2012 6:58 am

FastSRT8 wrote:Very interesting thread. I wonder what percentage of these FR comes or gets called on new users? If you have been with them for many years AND are in good standing, I can't see them doing this to you. It's like asking your most loyal customer (thru good and bad economic times) to prove their wealth? That's weird. IF you are religiously making all your payments, this should not happen. Just make sure you MAKE your payments... then this should not be an issue.


Who knows. If you can believe what people post, it can happen to anyone.

As much as I like Amex, if they F/R me, I pay balance ASAP and the cards are closed. I can show I make what I said - my salary is exactly what I listed. That's NOT the point at all, I know some are thinking "If you have nothing to hide you have nothing to fear". Um, yeah. I know at the least they impose hard limits on you even if you've done nothing wrong, which I really don't "get". Anyway I will just close the things and move on to other issuers who don't do it. Part of me is tempted to just close them now and be done with it. I have some other nice cards from issuers whose cards you can actually count on, and as great as Amex is in other ways they can be pretty capricious and I have to question if I REALLY want that in my life. I would not be surprised if I just close those cards and move on. We'll see.

And again my salary is exactly what I stated, I just don't care to live my life in fear of anything be it Amex or something else.

PopiLopi
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Postby PopiLopi » Fri Jun 08, 2012 7:55 pm

If amex selected me for F/R I would probably submit the papers, but it really depends on how deep they're willing to go. I have nothing to hide, but as MemberSince99 said, I don't feel comfortable with this people knocking on my door and asking me to provide paperwork about my assets, especially if I've never had a late or missed payment.

I do like Amex because I'm relatively new to credit and they're the only company that lets me charge over $3k a month without having to pay off the card every week because I've reached my limit halfway the billing cycle. It's convenient, safer than a credit card and I love the face of people when I paid with my Amex card, I'm 25yrs old but to my luck or disgrace I have a high school kid face, so they always wonder "is that her card?"
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FastSRT8
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Postby FastSRT8 » Sat Jun 09, 2012 1:45 pm

How is the handbag collection coming along?


PopiLopi wrote:If amex selected me for F/R I would probably submit the papers, but it really depends on how deep they're willing to go. I have nothing to hide, but as MemberSince99 said, I don't feel comfortable with this people knocking on my door and asking me to provide paperwork about my assets, especially if I've never had a late or missed payment.j

I do like Amex because I'm relatively new to credit and they're the only company that lets me charge over $3k a month without having to pay off the card every week because I've reached my limit halfway the billing cycle. It's convenient, safer than a credit card and I love the face of people when I paid with my Amex card, I'm 25yrs old but to my luck or disgrace I have a high school kid face, so they always wonder "is that her card?"
Carpe diem quam minimum credula postero!



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