I recently applied for American Express BCP before Thanksgiving and was and instantly approve now I had it for a few weeks before I decided to use it for Thanksgiving shopping. So I used it a total of 5 times on $90 here $20 bucks and so on only using a total of $545 before I got the dreaded call about financial review with the form 4506T... Now it had a 3k limit on it which is my lowest limit card I have. So I received the email and I went through the forms and felt uncomfortable with there request... For the simple fact I make $122K a year and I have been audited free for the last 6 years and I don't want to draw any attention to myself with the IRS. Because I've been audit before and it was my worst nightmare in my lifetime And I wouldn't wish that on anyone!!! But that's not to say that my tax aren't in order I just don't want to go through that nightmare again... I understand Amex has to protect themselves but I find that to be a little bit extreme. This isn't a mortgage. LOL!!! So with that said and done I decided not to comply with their request. So I received a email today saying that my account has been canceled. I can care less about the card. My question is how does it reflect on my credit and how does it reflect in AMEX system? Will I see a decrease in credit scoring? Am I blacklisted from AMEX? Oh forgot to mention that I pay off the balance when it post 3days later.
Any input would help thanks!