Warning: American Express Financial Investigations Are Now Widespread

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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AmexTrainer
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Postby AmexTrainer » Sun Mar 29, 2009 9:41 am

Well, nobody ever said being self employed was going to be easy. If you can't prove income with a W2, then they have to prove it some other way. A credit card isn't secured debt like a car is. They don't have something to come and repossess if you suddenly stop paying the bill. Because the risk is pretty great when they do a line of credit increase, or realize that elements in your credit report are changing (which is one of the reasons they require that stuff) (and don't say that your credit never changes because that only shows your ignorance about the credit scoring models. Your credit changes CONSTANTLY), then it makes sense for banks to require a little extra confirmation of your ability to pay. If you are honest and have reported this income, then showing your taxes shouldn't be any problem. If your credit card charges are more of a result of company reimbursement and not so much because of your ability to pay, well then that is another story...

I had a job once where my monthly spend on my AMEX was far above my monthly income. I was easily spending 12K a month on that thing. I was traveling and was going with several people. I made sure I put all their plane tickets and anything else I would get reimbursed for on my card so that I would get the points. If AMEX would have asked to see my financials to support such spend, I wouldn't have been able to do it. Luckily this was before they worried much about that... It is a concern now though because people are spending like that and then not paying the bill. It is easier to take the reimbursement and pay their mortgage and let the card go to collections.


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