Amex help needed

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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SoonerMagic
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Amex help needed

Postby SoonerMagic » Tue Jan 28, 2014 10:08 am

I recently applied for Amex BCE and was told credit was fine but they wanted to verify income with a IRS 4506. The problem is that i just graduated from college in December so the income I am at now would not be verified by the 4506 and especially since it would be for 2012 the last taxes filed. My income now is 105K and while in college I worked part time and it was only about 10K annually.
How long do I have to wait to reapply and would they ask for them same things again or was it just something with that application that triggered the request.
My scores are 720-740, with credit limits as high as 15,000 but my credit only is about 3 years old. With a couple of new accounts I have added my average account age is only 1.8 yrs though.


MemberSince99
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Postby MemberSince99 » Wed Jan 29, 2014 7:10 pm

Must have been something about your application, or just one of those "random" FRs.


And yes you can later apply and they will ask for the form again, so be sure your tax return gives what you put in the application.


Alternatively you could tell them the scoop and hope they take pity on you. May not work but what do you have to lose by trying? If your income is 105k and you can show that, then you weren't doing anything wrong but whether they will accept that, who knows. Let us know if you try.

takeshi
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Postby takeshi » Thu Jan 30, 2014 11:03 am

SoonerMagic wrote:How long do I have to wait to reapply and would they ask for them same things again or was it just something with that application that triggered the request.

Generally speaking, if you run into the 4506-T and don't deal with it you can expect to run into it again. Reapply when your tax documents support the income you stated.

SoonerMagic wrote:My scores are 720-740, with credit limits as high as 15,000 but my credit only is about 3 years old. With a couple of new accounts I have added my average account age is only 1.8 yrs though.

...and total CL's are?.

MemberSince99
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Postby MemberSince99 » Thu Jan 30, 2014 12:46 pm

And more importantly what is your utilization?

CC Deville
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Postby CC Deville » Thu Jan 30, 2014 3:37 pm

Like Takeshi said, once flagged for the 4506 T it will remain until dealt with. I read about a guy that got FR'ed and refused to submit so he closed the account. A year later re-applied and was approved but was flagged for the FR once he activated the card.

A 21/22 year old with a six figure income straight out of college spooked them! You tried to play with the big boys too soon and got burned :cool:

MemberSince99
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Postby MemberSince99 » Thu Jan 30, 2014 3:45 pm

I'm curious too, what field are you in? In other words what field SHOULD I have gone into but was too stupid to, since in this one I will never even approach 6 figures no matter what I do (been doing this for 15 1/2 years now and never been close).


On the same subject, whenever they list the "bright fields of the future" I never see IT in there anymore, so at least that much is honest. The field is about as bright as our commander in chief.

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FastSRT8
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Postby FastSRT8 » Thu Jan 30, 2014 8:00 pm

SoonerMagic wrote:How long do I have to wait to reapply and would they ask for them same things again or was it just something with that application that triggered the request.
My scores are 720-740, with credit limits as high as 15,000 but my credit only is about 3 years old. With a couple of new accounts I have added my average account age is only 1.8 yrs though.


Show then your employment offer letter. Done.

If you truly are making the 105K then you have nothing to hide.

IF Amex is smart, you can be a longtime member.
Carpe diem quam minimum credula postero!

SoonerMagic
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Postby SoonerMagic » Fri Jan 31, 2014 10:06 am

I have revolving credit lines with 99,200 in credit with a total of $624 owed for less than 1% utilization. I have cards with CL's of 20K, 15K, 15K, 15.6K and then others in the 5-6K range. Oldest card is 2010 and my average account age is 1.8 years. I did call and talk with them and offered employment verification but they would not accept, only 4506. Since I only began the full time employment in december after graduation, that would mean I would have to wait until 2014 taxes were filed. I am a petroleum engineer with an oil company. Even during college I paid in full all account each month.



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