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American Express Credit Card




Hi,

Does anyone that comes to this forum have an American Express Credit Card? And are you aware that, sometimes, they do review of accounts, in that they suspend account privileges, until they get the required information from the cardholder, for example tax return and similar.
What is happening in this case? Does anyone know?

Thank you for replying.


 
CanadianDesi_1

Junior Desi
Member since: Aug 07
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Post ID: 104810 05-08-07 11:24:15
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sudesingh
Senior Desi
Member since: Jul 04




Posts: 2065
Location: Toronto


Quote:
Originally posted by CanadianDesi_1

Hi,

Does anyone that comes to this forum have an American Express Credit Card? And are you aware that, sometimes, they do review of accounts, in that they suspend account privileges, until they get the required information from the cardholder, for example tax return and similar.
What is happening in this case? Does anyone know?

Thank you for replying.



I've had an AMEX card for over 10 years, and never had a review. Why would they want a clients tax returns. :confused:

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Post ID: 104818 05-08-07 21:52:40
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coolcola
Desi
Member since: Jun 07




Posts: 81
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never heard of such a review by Amex; you might want to ask for your credit report from Equifax or transunion to check for any descripancy

 
Post ID: 104831 06-08-07 09:35:50
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cdn_dude
Senior Desi
Member since: Dec 05




Posts: 942
Location:


Quote:
Originally posted by coolcola

never heard of such a review by Amex; you might want to ask for your credit report from Equifax or transunion to check for any descripancy



I agree, never heard of ANY review by AMEX or by any other credit card company.


 
Post ID: 104840 06-08-07 12:41:22
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jonav
Senior Desi
Member since: Apr 07




Posts: 458
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I was working with AMEX in India (8 yrs ago) and the reviews are not requested for CREDIT cards but can be asked if one wants a CHARGE card (it has very high credit limits (was Rs.500,000 in 1999, dunno now), we cannot rollover payments (with some limited exceptions), one can buy a car with it but will need to pay the full amount to AMEX the moment the bill arrives). Did you apply for a CHARGE card? Otherwise I really don't understand why they asked for the review and suspended account privileges.

Jona


 
Post ID: 104843 06-08-07 12:47:44
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yellowknife
Senior Desi
Member since: Sep 04




Posts: 445
Location: Mississauga


Never heard of anything like this with any credit card here in North America, let alone Amex. I am not sure why anyone would want your tax-returns etc. Sounds fraudulent.. Please be careful before providing anyone with such info.

The only reason Amex or any other credit card may contact you at anytime is if they see charges on your account that they think are suspicious, eg. you live in Toronto, but all of a sudden there are a number of charges in Japan.

In certain cases, if they are unable to contact you to ask you about these charges, for your safety, they may temporarily freeze the account.


 
Post ID: 104880 07-08-07 09:44:35
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pratickm
Global Moderator
Member since: Feb 04




Posts: 2824
Location: Toronto


Correct, in addition, all credit card issuers routinely review the cardholder's credit report.
If they find sudden and unexplained negative changes, such as a high amount of debt, lots of new loans taken out, or something that might indicate a possible bankruptcy, they can take whatever action they deem necessary.

They can ask for proof of continued employment, proof of assets, etc.

All of this is unlikely, but possible.

You should immediately ask for a copy of your credit report from all the 3 agencies.

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-- Rhett Butler in "Gone with the Wind"

 
Post ID: 104885 07-08-07 10:12:30
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Ranin
Senior Desi
Member since: Aug 04




Posts: 281
Location: Guelph, ON


Quote:

You should immediately ask for a copy of your credit report from all the 3 agencies.




You should have done this like yesterday. Don't delay, get the report, and talk to the AmEx why they want the info, before sending out any documents.


 
Post ID: 104893 07-08-07 11:46:08
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