What not to do when you get accepted for AMEX.

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Nitrus
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What not to do when you get accepted for AMEX.

Postby Nitrus » Tue Aug 14, 2012 11:41 pm

Hey all here's my story so far.

I've been reading the posts for a while and finally had the courage to apply for AMEX GOLD. All the credit scores are 700+, and my only other card is 500 CL. Approved on 8-8, download and installed tablet and cell phone app, then received card on 8-13. My confidence was through the roof. I moved all my utility bills to auto pay on the card and went out for dinner on the card. I work and an electronics store with a great discount and my large group for family and friends go thru me for great prices. I'm planing on putting all the purchases on AMEX for the warranty and points and they pay me back. With it being back to school I'm getting many a laptop with the first one to be bought 8-14 in the AM.

After racking up 300+ on the first Monday and checking purchasing power 1500 to be approved the night before, the Laptop purchase declinedthe next morning . Financial review and fraud triggered. Wow day two, the CSR was "impressed". Pretty demoralizing. Fraud approved me, now awaiting FR. My guess is you get your card, you ease into it.

And thoughts?

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AMEX GOLD (FR)


CC Deville
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Postby CC Deville » Wed Aug 15, 2012 1:11 pm

Being new to credit and only having one other card with a $500 limit probably already had you on their radar...but making purchases at high risk merchants like electronic stores (and jewelry stores, foreign currency exchange websites or precious metal websites) will set off fraud detection at any bank worth its weight in salt.

That said, I am not sure what you entered as your income and other assets, but I will make an uneducated guess that you don't make huge amounts of money in the electronics store (not trying to come off as a jerkwad). So they are seeing a new cardholder, with what I assume to be moderate or low income, making large electronic store purchases. Yeah, that is a good way to be FR'ed.

No worries, just submit the tax form that they will send to you and you will have it cleared up in a matter of days.

As far as easing into a new Amex charge card (to avoid an FR)....it really depends on your income, assets, credit history etc. Someone with a prestigous address, 20+ years of credit and a high income will probably be left alone if making an initial large purchase at an electronics store (though it could still prompt a fraud review). Nobody really knows what triggers an FR but you shouldn't live in fear of your Amex.

NYC_Dweller
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Postby NYC_Dweller » Wed Aug 15, 2012 2:10 pm

well said CC...

Nitrus
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Postby Nitrus » Wed Aug 15, 2012 4:06 pm

CC Deville wrote: Nobody really knows what triggers an FR but you shouldn't live in fear of your Amex.


Great advice CC. I make about 30k pretax and I don't think of you as a jerk wad for mentioning. I was just surprised after reading about FRs that I would get one one the second day. I'm not scared as much as a little soured, like a girl asking "where this relationship is going" on the second date kind of thing.

JayS10
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Postby JayS10 » Wed Aug 15, 2012 4:47 pm

How much did the laptop cost that you attempted to purchase?

Only reason I ask is because I got my fist amex about two weeks ago now and its been a pleasant experience. My initial spending limit was set at $1500 and the rep told me that I should be fine as long as I don't plan on making purchases over $1000 in one swipe for the first month or so. IF i had to make such a large purchase then they told me simply to call. He was attempting to explain how Amex figures out your spending habits and adjust your spending limit accordingly, this process takes 1-2 months from what he said if you're a new customer.

Just called today to pay my card down and inform them that I'd be making some purchases out of state over the next few days. My statement isn't actually due or anything but I figured I'd take care of it before I go on vacation...might see something I like :D . I racked up about $1100 since getting my card and paid it all off which posted right away and bumped up my spending limit a bit.
CK

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Express - $250CL (Builder)

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tlp123
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Postby tlp123 » Fri Aug 17, 2012 12:34 pm

Sorry for off topic post. Did a forum search, maybe missed it, & can't post new threads yet.

Is it true people are getting AMEX with previous charge offs that are past particular states SOL?

Sounds bizarre to me.

Thanks for any helpful info on this........
[font=Verdana][/font]“The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools.” — Thucydides[font=Book Antiqua][/font]

jlam572
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Postby jlam572 » Wed Aug 22, 2012 12:01 am

Yeah I had that problem too. Tried to buy a front mount intercooler for my E55 right after i got my green card and got denied. Now I routinely put between 3-5k per month on my PRG. Amex is all about history with them I noticed. Good story
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Pworld10
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Postby Pworld10 » Wed Aug 22, 2012 10:06 am

jlam572 wrote:Yeah I had that problem too. Tried to buy a front mount intercooler for my E55 right after i got my green card and got denied. Now I routinely put between 3-5k per month on my PRG. Amex is all about history with them I noticed. Good story


Front mount intercool + E55 = beast!! Amex probably was jealous
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jlam572
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Postby jlam572 » Thu Aug 23, 2012 2:06 am

Pworld10 wrote:Front mount intercool + E55 = beast!! Amex probably was jealous


Lol thanks I was running into cooling problems when I did the Evosport boost and ignition upgrades. So had to put a FMIC and Johnson pump
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tlp123
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Postby tlp123 » Mon Aug 27, 2012 1:58 pm

tlp123 wrote:Sorry for off topic post. Did a forum search, maybe missed it, & can't post new threads yet.

Is it true people are getting AMEX with previous charge offs that are past particular states SOL?

Sounds bizarre to me.

Thanks for any helpful info on this........


Thanks for the friendly replies on this, back in another thread.

Many thanks...appreciate it ;-)
[font=Verdana][/font]“The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools.” — Thucydides[font=Book Antiqua][/font]



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