Just Got Approved: A Couple Questions

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18 posts
VictorSuede
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Posts: 28
Joined: Fri Jul 26, 2013 10:51 pm
Location: United States, North America, Earth

Postby VictorSuede » Sat Aug 03, 2013 6:00 pm

Well, this is odd.

I got instant-approved when I applied for the card and activated it online without a problem, making my first purchases Aug 1. I made a few small purchases, including dinner last night, and this morning I got a voicemail from the Financial Review department asking me to call them. I logged in to my account and saw that it had been frozen.

They now want me to fill out a 4506-T form for income verification. I'm happy to do this and will send it back to them as soon as I get it, but I can't help wondering why they didn't verify my income before they sent me the card. Seems strange. :)

Discover, for the record, verified my income, employment status, and current address before issuing me a card. When AMEX didn't, I assumed they didn't need to for some reason--maybe since my credit report showed Discover had recently extended me credit.

Guess I was wrong. ;)
Victor Suede

My Cards
  • Discover IT (1% Everything; 5% Rotating): $15.7k (Credit Limit Increase: 3/15)
  • American Express Premier Rewards Gold (1 Point per Dollar Everything; 3 Points per Dollar Travel; 2 Points per Dollar Gas and Groceries): NPSL (7/13; Credit Limit Adjustment 8/14)
  • Chase Slate: $500 (4/14)
  • Barclaycard MasterCard (1 Point per Dollar Everything; 2 Points per Dollar Gas, Groceries, Utilities): $2.9k (8/14; Credit Limit Increase 4/15)
  • Citi Simplicity MasterCard: $1.5k (4/15)

Total CL: $20.6k


VictorSuede
Gold Member
Gold Member
 
Posts: 28
Joined: Fri Jul 26, 2013 10:51 pm
Location: United States, North America, Earth

Postby VictorSuede » Tue Aug 20, 2013 12:35 pm

Finally heard back from AMEX today. They have now given me a fixed spending limit of $3000 after viewing my income verification materials, and unfrozen my card. Excellent timing, as I'm leaving town tomorrow and really wanted to be able to use the AMEX on my trip. And honestly, I like knowing exactly what the limit is.

$3000 is more than enough for how I was planning to use/pay the card, so I've got no complaints. I'm just glad it's usable again.
Victor Suede

My Cards
  • Discover IT (1% Everything; 5% Rotating): $15.7k (Credit Limit Increase: 3/15)
  • American Express Premier Rewards Gold (1 Point per Dollar Everything; 3 Points per Dollar Travel; 2 Points per Dollar Gas and Groceries): NPSL (7/13; Credit Limit Adjustment 8/14)
  • Chase Slate: $500 (4/14)
  • Barclaycard MasterCard (1 Point per Dollar Everything; 2 Points per Dollar Gas, Groceries, Utilities): $2.9k (8/14; Credit Limit Increase 4/15)
  • Citi Simplicity MasterCard: $1.5k (4/15)

Total CL: $20.6k

Midori
Centurion Member
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Posts: 204
Joined: Tue Oct 30, 2012 10:25 am
Location: TX

Postby Midori » Tue Aug 20, 2013 12:39 pm

Glad to hear it got sorted out okay! Very odd about the timing, though... it did seem rather cart-before-the-horse. :o)

VictorSuede
Gold Member
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Posts: 28
Joined: Fri Jul 26, 2013 10:51 pm
Location: United States, North America, Earth

Postby VictorSuede » Tue Aug 20, 2013 12:46 pm

Midori wrote:Glad to hear it got sorted out okay! Very odd about the timing, though... it did seem rather cart-before-the-horse. :o)


Indeed. At least Netflix was the only automatic bill that tried to process before I figured out what was going on. They're pretty nice about it and just send you an email asking for another credit card, and don't try to close the account.

I just checked my account and it's still frozen. I called AMEX and the rep said it can take 24-48 hours for the review to "complete" and the new limit to process through the system. So with any luck I'll have a working AMEX when I leave town tomorrow, though it looks like I won't be able to put my hotel on it, unfortunately. I would've liked to have been able to use any deals on AMEX's travel site.

At least it'll be 100 percent fixed soon. For some reason having a suspended/locked credit card was making me unaccountably nervous, even though I certainly don't need it. Strange, emotional little pieces of plastic. :P
Victor Suede

My Cards
  • Discover IT (1% Everything; 5% Rotating): $15.7k (Credit Limit Increase: 3/15)
  • American Express Premier Rewards Gold (1 Point per Dollar Everything; 3 Points per Dollar Travel; 2 Points per Dollar Gas and Groceries): NPSL (7/13; Credit Limit Adjustment 8/14)
  • Chase Slate: $500 (4/14)
  • Barclaycard MasterCard (1 Point per Dollar Everything; 2 Points per Dollar Gas, Groceries, Utilities): $2.9k (8/14; Credit Limit Increase 4/15)
  • Citi Simplicity MasterCard: $1.5k (4/15)

Total CL: $20.6k

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Aug 20, 2013 4:29 pm

Did they happen to tell you what triggered your Financial Review? Something clearly triggered it. It doesn't sound like you did anything that should have. I have heard some are just "randoms" and maybe that's what yours was? Or is there more to it? I'm just curious really.

They are an odd duck in a lot of ways.

VictorSuede
Gold Member
Gold Member
 
Posts: 28
Joined: Fri Jul 26, 2013 10:51 pm
Location: United States, North America, Earth

Postby VictorSuede » Tue Aug 20, 2013 4:51 pm

MemberSince99 wrote:Did they happen to tell you what triggered your Financial Review? Something clearly triggered it. It doesn't sound like you did anything that should have. I have heard some are just "randoms" and maybe that's what yours was? Or is there more to it? I'm just curious really.

They are an odd duck in a lot of ways.


All they ever said was they wanted it for "income verification." I was also explicitly told there was no chance they would close the card so long as I turned in the "let us glimpse your taxes" form. I had just written a longer response that the forum ate, but after thinking about your question my theory is one of two things happened. Of course, I'm a credit newbie, so I'm just guessing.

1) Some sort of glitch that got me instant approved without an income verification (the instant approval surprised me), and wasn't picked up on until I had spent $288 dollars in the first couple days after activation (cell phone bill + other monthly charges + nice dinner out). Someone or something punched the big red STOP button on my account forthwith. Or...

2) Something made them uncomfortable about giving me an NPSL account (which I think is technically "better" than a fixed limit account, though I honestly prefer having a fixed credit limit to measure myself against) and they froze the account until they could get the income verification to decide what my limit should be. $3000 is more than sufficient for my plans for this card (primary card so as to get spending bonuses) and more than I was expecting under the circumstances.

I'm going to use the card as normal when it wakes fully up again and if all goes well will start using it for everything I can't get a better cashback deal on through ShopDiscover.

I'm more annoyed that I'm going to have trouble hitting my 50,000 point sign up bonus minimum spending amount now than anything else. That was what made me decide to go ahead and sign up when I did instead of waiting, and I already lost almost a month. Now that I know they've also somehow backdated my account to 2005 (when I was merely an "authorized user" on another person's account), I'm anticipating I might have to do a little work to get them to honor the sign up bonus, but maybe I'll get lucky. :)
Victor Suede

My Cards
  • Discover IT (1% Everything; 5% Rotating): $15.7k (Credit Limit Increase: 3/15)
  • American Express Premier Rewards Gold (1 Point per Dollar Everything; 3 Points per Dollar Travel; 2 Points per Dollar Gas and Groceries): NPSL (7/13; Credit Limit Adjustment 8/14)
  • Chase Slate: $500 (4/14)
  • Barclaycard MasterCard (1 Point per Dollar Everything; 2 Points per Dollar Gas, Groceries, Utilities): $2.9k (8/14; Credit Limit Increase 4/15)
  • Citi Simplicity MasterCard: $1.5k (4/15)

Total CL: $20.6k

User avatar
Calipso
Centurion Member
Centurion Member
 
Posts: 195
Joined: Mon Oct 29, 2012 2:50 pm
Location: Boston

Postby Calipso » Tue Aug 20, 2013 6:16 pm

nismoZtuner wrote:Exactly! once they see me theyll change their minds- my brother who is 2 years younger than me is evading all credit card offers or anything that has to deal with credit- tells me the banks will own me in a few years..


And those type of people wonder why I fly free with AirTran, Southwest and Delta. They also wonder how I stay free at the Hilton, Marriot and SPG for free.

When I explain to them, their face turns red and they immediately label my methods as dumb. Credit is like politics with some people. Even with valid proof, you can't change the minds of people
My Limits:
NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
Discover IT: $7,700
Barclay's NFL Extra Points (Carolina Panthers): $5,000
DCU Platinum: $3,000
RTN FCU CC: $2,000
CCCU Platinum Rewards Visa: $2,000

Current total limit: $129,500

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djrez4
Centurion Member
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Posts: 1468
Joined: Tue Jul 31, 2012 12:20 pm
Location: United States

Postby djrez4 » Tue Aug 20, 2013 7:24 pm

Calipso wrote:Credit is like politics with some people. Even with valid proof, you can't change the minds of people


What you're dealing with is called dogma. No amount of facts or data can breach that fortress.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
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