Amex Financial Review

[yashbhavnani]

So, I had faced a financial review (FR) by Amex. Kindly learn from this thread to avoid a FR and how to come out of it.

Please read : (**long post alert**) I reside in Jaipur Rajasthan and had applied for amex as soon as it was launched in Jaipur in 2015. The first card issued to me was Amex platinum reserve which I closed within a month as the Amex’s offline acceptance was pathetic to say the least. It still is.
I reapplied after a few months but this time for Plat travel and then started my journey to mint Amex points since 2016. I achieved each and every spend based targets/milestones and received 100% fee waivers every year based on the spends.
I was offered MRCC as companion card and I gladly took it. I was minting more points than ever. Thing to note here is that these were the days when Paytm/MobiKwik and various other wallets had so many loopholes and they were being used by everyone to manufacture spends and I was no different. Combined with a lot of genuine spends and wallet loads, I had amassed a lot of points.

Around Covid times ie Jan 2020 I was getting bombarded with emails/calls from amex to apply for the plat charge (70800/- annual fee) for almost a year and a half.

Fast forward to 2021. I took the plunge as they were offering an irresistible upgrade offer of 80k taj vouchers or 1.5 lacs points.

Now, things start to go downhill. I had clearly told the Amex sales person that according to the eligibility criteria for the plat charge, I am falling slightly short of the required annual ITR. He said no worries Sir, just go for it, there’s going to be no problem.

Now, my first purchase on plat charge was a pretty big one as it was a no spending limit card (there’s always a shadow limit).

That’s when all hell broke loose. Within 5 minutes of taking that transaction, I was bombarded with Amex emails. ***ACCOUNT SUSPENDED*** Contact Amex for more information. And NO! it wasn’t just for the plat charge, it was for all my Amex cards.

So, before I called Amex, I searched online and not much info was available about India specific FR but found many stories of the US.
in short, a FR can go either ways ie all your cards closed and points forfeited and you are in all probability done with Amex OR you come out of it with some curbs on limits and you go on with your life having learnt something about Amex.

For me, I came out of it with all my cards and points intact but took a massive hit on my Credit limits. They reduced my limits by 60% across the board.

What happens exactly after you get that dreaded email:
You call the amex support, they ll just transfer your call to a specific department that deals with FR without giving any info.
I was transferred to that department and they just told me to send my bank statement and ITR.
They ll give you 15 days to comply and furnish the documents and if you don’t they ll close your cards.

Usually, FR decision takes anywhere between 30-45 days and in the meantime the Amex account ie all the cards remain suspended. Everything is suspended. You can’t even redeem your points.

After about a month or so, I got a call from Amex informing about the FR decision that it’s all good to go from here but we have reduced your credit limits by x amount.

This was a sigh of relief as I had amassed a huge amount of points and was mainly worried about forfeiting them.

Well, all’s well that ends well. Lesson learnt. Some things to always avoid especially with Amex to steer clear of a FR:
1) Never use your card at a particular merchant frequently for huge amounts. (Spend manufacturers will know what I mean)
2) For charge cards avoid checking your spending power frequently. Do it only before taking a high value transaction. Make sure it’s genuine. Amex can ask you to furnish the invoice.
3) If you yourself are a merchant. Never ever swipe your own card on your own pos machine. This will bring you straight to a FR 100%.

I have covered almost all aspects of a FR. Will be happy to answer your queries regarding this.

P.S. fast forward to today I still hold all 3 of my Amex cards and multiple limit enhancements have been offered (mind you offered and not requested by me) by Amex since 2021 till date on all my Amex cards. Also, I learnt that it’s better to keep redeeming the points regularly.

Thanks for reading through

 

[yashbhavnani]

So, your card got blocked due to suspicious transaction and you provided valid purchase invoice to unblock, is it?

What is this Financial Review (FR) or that specifically validated our income documents here?

Can't we allowed to use their provided limit?

Why do I have to provide income documents year by year to them, they're not income tax officers?

So, if they provide limit enhancement should we have to ask them, is it inline with my income before accepting?

I'm not understanding when is an ITR needed for AmEx especially after card approval? and why it is needed?

Could someone clarify this?

1) No, the card didn’t get blocked due to suspicious activity. it was suspended as the Amex system is designed to detect abnormal spending patterns.
2) Please understand that a FR is a rare event and only happens if there’s a variation in the spending pattern. For eg if you keep spending 50k a month and suddenly you spend 15 lacs in one transaction or something like this. (This has more to do with charge cards and not credit cards)
3) Nowhere it’s written that you ll have to provide income docs every year. You can use your assigned limit(credit cards) without any issues. The problem of FR will arise if you use your credit card on your own pos machine or you regularly spend at a particular merchant every month or so.
4) If they offer limit enhancement, you don’t have to ask them if it’s in accordance with your income, you already know it.
5) ITR will be needed if a FR is triggered on your account else it won’t be.

In summary, a FR is a rare event. It doesn’t happen to many and it doesn’t happen very often that’s why very little is known about it. When I went through it, I was searching for more info or for someone who had gone through it to calm my nerves.
I found no one in India, found some in the US who had faced FR not once or twice but many times.

Also, the point of the post was not to deter you from enjoying your card without worrying. It was to warn those who manufacture spends, they have a sword hanging on their head.
if your spends are genuine, keep enjoying your cards without any worries.

Hope this helps!

 

[BestBankerBestBanker is verified member.]

Nice thread . Excellent points .
Charge card is a risky product both for the bank and the customer(Banks -Repayment, Customers- Loss /Theft)
When a high value transaction goes through or frequent transaction happens through a particular merchant then you will get a call or email as its monitored by the system and not manually.
1.It is to check whether its the card member who is doing the transaction as Amex cards has lost card liability and Amex takes care of the entire amount in case of loss or theft
2. To avoid money laundering as RBI is now closely watching all banks .
3. People are using their cards in their own swiping machines and getting money from the bank. Sure they will get caught as its all monitored by system .

 

[anirbanm]

thank you for sharing this, I had no clue what FR in cc was before this article, thanks for sharing.

As mentioned, I heard about it on YouTube etc. but in India, probably hearing for the first time.

 

[AllSeeker]

FR happen often, and not just via amex in US, almost every large CC company does it, like Chase for example.

In case of India, not many people spend huge amounts via Charge/Credit cards. Most will use traditional ways.

Important word in this experience is "pattern".

Please be very aware of if you are true to your spending pattern, a sudden 1-2 lacs spend on CC/Charge which usually has monthly 5k spend will surly trigger some ticks in system. Even if not FR.

Also, ppl using their own swipe machines or POS handlers using pos machine of merchants to pay via thier CC and take cash from customers, its actually very easy to track you, its just question of will to hammer the nail and not question of hammer not knowing where the nail is. They can directly access all your swipe machine codes and even track them location wise. This includes wallet/fast tag money rotators.

 

[ismail]

I also had gone through Amex FR, they asked for my ITR and payslips, which i duly submitted within the next half hour. they had my limits reduced to about 60% by next day and suspension cleared.

and for info, i did some manufactured spends before that to meet the targets, but not very big amounts, to the tune of 5-6 lakhs in the year

 

[CMGCMG is verified member.]

I also had gone through Amex FR, they asked for my ITR and payslips, which i duly submitted within the next half hour. they had my limits reduced to about 60% by next day and suspension cleared.

and for info, i did some manufactured spends before that to meet the targets, but not very big amounts, to the tune of 5-6 lakhs in the year

Were the limits restored after some time?

 

[satviksehgal]

I have been at the reciving end of this. They suspended all my accounts because I used my Plat travel for NPS Tier 2. They thought it was a manufactured spend which it was not. Once all my docs and everything were recvd and reviewed by them, the suspension was cancelled. Could use my cards.

Post which I told them to shove that plat travel up theirs. Cancelled the plat travel. Using only the Gold charge and MRCC for the monthly milestone. They do not deserve my spends. Simple.

 

[Hello_World]

So here goes my story regarding AMEX FR:

Background:
Since 2016, my journey with AMEX began with the Gold charge card, eventually upgrading to the Platinum charge card in 2019. With an annual cycle spanning from December to November, I was billed 70,800/- in December 2023, rewarded with 30k TAJ Vouchers. My usage pattern has remained consistent, averaging around 2-2.5 lakhs monthly across a spectrum of expenses, with a clean record devoid of late fees.

My financial landscape boasts an ITR (FY23-24) of 21 lakhs, poised to rise to approximately 30 lakhs in the upcoming filing. Coupled with a monthly salary of 3 lakhs and additional streams of income, my financial standing is robust. AMEX has entrenched itself as the quintessential family card, with my parents and wife also enjoying lucrative salaries.

Adding to the mix, on March 22, 2024, I was granted the AMEX Platinum Travel card, sporting a credit limit of 8 lakhs. Residing in a Tier 3 city, my pin code falls outside AMEX's serviceable cities, while my CIBIL score stands at 775.

Current Issue:
On March 29, 2024, I was received a monthly bill totalling 9.5 lakhs, encompassing expenses ranging from travel to shopping to online returns. In early April, I attempted a transaction of 2.5 lakhs on Tata Cliq Luxury, only to have it denied, accompanied by an email citing my higher than usual spending pattern. Acknowledging this, I reduced the transaction to 1.5 lakhs, which went through successfully.

However, the saga continued when a week later, I found myself on the receiving end of an email from AMEX's Financial Review team, informing me of the suspension of my account pending a financial review. The request was straightforward: submit financial documents including ITR, bank statements, and salary slips. Swiftly complying, I awaited further instructions.

A day later, a call from the AMEX FR team urged me to clear the outstanding balance by the due date. Despite having a 15-day window, I chose to wait until the last moment, a decision fuelled by frustration. In the midst of this ordeal, I decided to cut ties with my newly acquired Platinum Travel card, deeming it pointless to retain a suspended card in my wallet.

Upon settling all accounts within the stipulated timeframe, I received yet another call from the FR team, this time delivering the news of the permanent cancellation of my AMEX account. When pressed for a rationale, they remained tight-lipped. Perturbed by this development, I demanded a refund of the annual fee I had paid just four months prior, amounting to 70,800/-. Despite my insistence, the FR team failed to oblige. Undeterred, I made it clear that I would escalate the matter to higher echelons of customer support (Head-customerservicesindia@aexp.com), leaving me in a state of limbo as I await a resolution from the AMEX customer support team.

Latest Update:
On May 11, 2024, driven by curiosity, I applied for both the Platinum Travel and Platinum Reserve cards. Surprisingly, both applications were approved swiftly, with no requirement for vKYC. While the Platinum Travel application necessitated financial document uploads, the Platinum Reserve application did not demand any such financial documents. Emboldened by this success, I decided to push further and applied for the Platinum Charge card too just to see whether or not the application will be approved or not. Within 12hrs, platinum charge card application was approved too.

The credit limits assigned were as follows: Platinum Travel - 75k, Platinum Reserve - 6.4L, and the Platinum Charge boasted a shadow limit of 12L. Fast forward to today, May 17th, and I possess all three cards, freshly re-issued, yet to be activated.

In an effort to streamline my cards, I reached out to Platinum customer care, expressing my desire to reactivate my previously suspended Platinum Charge card, which had been canceled by the FR team. Given that I had already paid the annual fee for the previous account just four months ago, it seemed nonsensical to let go of it, especially since AMEX had already issued me a new charge card. Unfortunately, the customer care representative informed me that they were unable to reactivate the canceled card. Consequently, I have to pay the annual fee once again for the new charge card, leaving me perplexed by the entire process.

AMEX Customer care also clarified that with the Platinum charge card, the Platinum Reserve would be complimentary as a companion card. Now all three new cards are yet to be activated, and unless AMEX re-actives my previous cancelled card or waive of the fee of the new card since i already paid the fee of the charge card in Dec 2023, I am thinking to shove the AMEX cards in gutter. In the last one month, I have moved all my expenses to HDFC Regalia Business (HDFC CC holder since last 12 years) with no issues at all.

 

[yashbhavnani]

So here goes my story regarding AMEX FR:

Background:
Since 2016, my journey with AMEX began with the Gold charge card, eventually upgrading to the Platinum charge card in 2019. With an annual cycle spanning from December to November, I was billed 70,800/- in December 2023, rewarded with 30k TAJ Vouchers. My usage pattern has remained consistent, averaging around 2-2.5 lakhs monthly across a spectrum of expenses, with a clean record devoid of late fees.

My financial landscape boasts an ITR (FY23-24) of 21 lakhs, poised to rise to approximately 30 lakhs in the upcoming filing. Coupled with a monthly salary of 3 lakhs and additional streams of income, my financial standing is robust. AMEX has entrenched itself as the quintessential family card, with my parents and wife also enjoying lucrative salaries.

Adding to the mix, on March 22, 2024, I was granted the AMEX Platinum Travel card, sporting a credit limit of 8 lakhs. Residing in a Tier 3 city, my pin code falls outside AMEX's serviceable cities, while my CIBIL score stands tall at 775.

Current Issue:
On March 29, 2024, I was received a monthly bill totalling 9.5 lakhs, encompassing expenses ranging from travel to shopping to online returns. In early April, I attempted a transaction of 2.5 lakhs on Tata Cliq Luxury, only to have it denied, accompanied by an email citing my higher than usual spending pattern. Acknowledging this, I reduced the transaction to 1.5 lakhs, which went through successfully.

However, the saga continued when a week later, I found myself on the receiving end of an email from AMEX's Financial Review team, informing me of the suspension of my account pending a financial review. The request was straightforward: submit financial documents including ITR, bank statements, and salary slips. Swiftly complying, I awaited further instructions.

A day later, a call from the AMEX FR team urged me to clear the outstanding balance by the due date. Despite having a 15-day window, I chose to wait until the last moment, a decision fuelled by frustration. In the midst of this ordeal, I decided to cut ties with my newly acquired Platinum Travel card, deeming it pointless to retain a suspended card in my wallet.

Upon settling all accounts within the stipulated timeframe, I received yet another call from the FR team, this time delivering the news of the permanent cancellation of my AMEX account. When pressed for a rationale, they remained tight-lipped. Perturbed by this development, I demanded a refund of the annual fee I had paid just four months prior, amounting to 70,800/-. Despite my insistence, the FR team failed to oblige. Undeterred, I made it clear that I would escalate the matter to higher echelons of customer support (Head-customerservicesindia@aexp.com), leaving me in a state of limbo as I await a resolution from the AMEX customer support team.

Latest Update:
On May 11, 2024, driven by curiosity, I applied for both the Platinum Travel and Platinum Reserve cards. Surprisingly, both applications were approved swiftly, with no requirement for vKYC. While the Platinum Travel application necessitated financial document uploads, the Platinum Reserve application did not demand any such financial documents. Emboldened by this success, I decided to push further and applied for the Platinum Charge card too just to see whether or not the application will be approved or not. Within 12hrs, platinum charge card application was approved too.

The credit limits assigned were as follows: Platinum Travel - 75k, Platinum Reserve - 6.4L, and the Platinum Charge boasted a shadow limit of 12L. Fast forward to today, May 17th, and I possess all three cards, freshly re-issued, yet to be activated.

In an effort to streamline my cards, I reached out to Platinum customer care, expressing my desire to reactivate my previously suspended Platinum Charge card, which had been canceled by the FR team. Given that I had already paid the annual fee for the previous account just four months ago, it seemed nonsensical to let go of it, especially since AMEX had already issued me a new charge card. Unfortunately, the customer care representative informed me that they were unable to reactivate the canceled card. Consequently, I have to pay the annual fee once again for the new charge card, leaving me perplexed by the entire process.

AMEX Customer care also clarified that with the Platinum charge card, the Platinum Reserve would be complimentary as a companion card. Now all three new cards are yet to be activated, and unless AMEX re-actives my previous cancelled card or waive of the fee of the new card since i already paid the fee of the charge card in Dec 2023, I am thinking to shove the AMEX cards in gutter. In the last one month, I have moved all my expenses to HDFC Regalia Business (HDFC CC holder since last 12 years) with no issues at all.

escalate to the Amex pno. You might get something out of it else after what you’ve been through, the shoving of the cards in the gutter is a great plan, make a video of it n post it all over tagging Amex

 

[b4bhar]

So here goes my story regarding AMEX FR:

Background:
Since 2016, my journey with AMEX began with the Gold charge card, eventually upgrading to the Platinum charge card in 2019. With an annual cycle spanning from December to November, I was billed 70,800/- in December 2023, rewarded with 30k TAJ Vouchers. My usage pattern has remained consistent, averaging around 2-2.5 lakhs monthly across a spectrum of expenses, with a clean record devoid of late fees.

My financial landscape boasts an ITR (FY23-24) of 21 lakhs, poised to rise to approximately 30 lakhs in the upcoming filing. Coupled with a monthly salary of 3 lakhs and additional streams of income, my financial standing is robust. AMEX has entrenched itself as the quintessential family card, with my parents and wife also enjoying lucrative salaries.

Adding to the mix, on March 22, 2024, I was granted the AMEX Platinum Travel card, sporting a credit limit of 8 lakhs. Residing in a Tier 3 city, my pin code falls outside AMEX's serviceable cities, while my CIBIL score stands at 775.

Current Issue:
On March 29, 2024, I was received a monthly bill totalling 9.5 lakhs, encompassing expenses ranging from travel to shopping to online returns. In early April, I attempted a transaction of 2.5 lakhs on Tata Cliq Luxury, only to have it denied, accompanied by an email citing my higher than usual spending pattern. Acknowledging this, I reduced the transaction to 1.5 lakhs, which went through successfully.

However, the saga continued when a week later, I found myself on the receiving end of an email from AMEX's Financial Review team, informing me of the suspension of my account pending a financial review. The request was straightforward: submit financial documents including ITR, bank statements, and salary slips. Swiftly complying, I awaited further instructions.

A day later, a call from the AMEX FR team urged me to clear the outstanding balance by the due date. Despite having a 15-day window, I chose to wait until the last moment, a decision fuelled by frustration. In the midst of this ordeal, I decided to cut ties with my newly acquired Platinum Travel card, deeming it pointless to retain a suspended card in my wallet.

Upon settling all accounts within the stipulated timeframe, I received yet another call from the FR team, this time delivering the news of the permanent cancellation of my AMEX account. When pressed for a rationale, they remained tight-lipped. Perturbed by this development, I demanded a refund of the annual fee I had paid just four months prior, amounting to 70,800/-. Despite my insistence, the FR team failed to oblige. Undeterred, I made it clear that I would escalate the matter to higher echelons of customer support (Head-customerservicesindia@aexp.com), leaving me in a state of limbo as I await a resolution from the AMEX customer support team.

Latest Update:
On May 11, 2024, driven by curiosity, I applied for both the Platinum Travel and Platinum Reserve cards. Surprisingly, both applications were approved swiftly, with no requirement for vKYC. While the Platinum Travel application necessitated financial document uploads, the Platinum Reserve application did not demand any such financial documents. Emboldened by this success, I decided to push further and applied for the Platinum Charge card too just to see whether or not the application will be approved or not. Within 12hrs, platinum charge card application was approved too.

The credit limits assigned were as follows: Platinum Travel - 75k, Platinum Reserve - 6.4L, and the Platinum Charge boasted a shadow limit of 12L. Fast forward to today, May 17th, and I possess all three cards, freshly re-issued, yet to be activated.

In an effort to streamline my cards, I reached out to Platinum customer care, expressing my desire to reactivate my previously suspended Platinum Charge card, which had been canceled by the FR team. Given that I had already paid the annual fee for the previous account just four months ago, it seemed nonsensical to let go of it, especially since AMEX had already issued me a new charge card. Unfortunately, the customer care representative informed me that they were unable to reactivate the canceled card. Consequently, I have to pay the annual fee once again for the new charge card, leaving me perplexed by the entire process.

AMEX Customer care also clarified that with the Platinum charge card, the Platinum Reserve would be complimentary as a companion card. Now all three new cards are yet to be activated, and unless AMEX re-actives my previous cancelled card or waive of the fee of the new card since i already paid the fee of the charge card in Dec 2023, I am thinking to shove the AMEX cards in gutter. In the last one month, I have moved all my expenses to HDFC Regalia Business (HDFC CC holder since last 12 years) with no issues at all.

I would at least expect a reason on why they permanently banned your account. As a customer we are very much entitled to know the reason

 

[Hello_World]

I would at least expect a reason on why they permanently banned your account. As a customer we are very much entitled to know the reason

Maybe ITR less than 25 lakhs which is required for Platinum Charge or Maybe Tier 3 city of residence. I am not sure of the reason either, but the most confusing part is they have issued me new cards, and expect me to pay additional 70,800/- to use the newly issued Platinum charge card, whereas I still have 7-8 months in my previous card renewal cycle.

 

[coolguy1]

Maybe ITR less than 25 lakhs which is required for Platinum Charge or Maybe Tier 3 city of residence. I am not sure of the reason either, but the most confusing part is they have issued me new cards, and expect me to pay additional 70,800/- to use the newly issued Platinum charge card, whereas I still have 7-8 months in my previous card renewal cycle.

Yeah, this is where it gets confusing.

If they rejected it based on some reason, shouldn't have re-approved the second time.
If they approved it the second time, they should add the remaining time period left from the previous card.

Generally, these things don't happen, how did you take to pay back the last time? The higher surplus spends might have raised suspicion and then the delay in payments could have further led to cancellation, that's the only reason that I can think of.

The best way would be to reach out to their PNO and share this information with them, hopefully they adjust the duration from the last card on the new one.

 

[Hello_World]

Yeah, this is where it gets confusing.

If they rejected it based on some reason, shouldn't have re-approved the second time.
If they approved it the second time, they should add the remaining time period left from the previous card.

Generally, these things don't happen, how did you take to pay back the last time? The higher surplus spends might have raised suspicion and then the delay in payments could have further led to cancellation, that's the only reason that I can think of.

The best way would be to reach out to their PNO and share this information with them, hopefully they adjust the duration from the last card on the new one.

There was no delay or late fee ever. My bill got generated on 29th March, and then I had to pay the due by 16th April. Everything was paid by 14th April within the due date timeframe. Even 9.5 Lakh bill is not new for my account, previously also I had received bills amounting to more than 10 lakhs, and all were cleared within the time frame.

Also, what i have noticed that FR team, and customer relationship (or retention) teams are not aligned internally in AMEX. During the account suspension period, I called AMEX Customer service for cancelation of Platinum Travel and Charge cards but they were held bent on retaining me citing premium customer, legacy account etc etc. Ultimately FR teams have the VETO, and they get to decide which account to suspend, cancel or re-activate.

This experience has made me recognize the significance of my HDFC Credit Card, which I overlooked because of my focus on AMEX. Over the past 1.5 months, I've already conducted transactions totaling 4 lakhs on my HDFC Business Regalia. By further utilizing it, I aim to build a strong case for an upgrade to INFINIA. Additionally, I just received my ICICI Sapphiro VISA card within a week of applying. I'm curious to see how my journey with ICICI unfolds.

 

[Hello_World]

So here goes my story regarding AMEX FR:

Background:
Since 2016, my journey with AMEX began with the Gold charge card, eventually upgrading to the Platinum charge card in 2019. With an annual cycle spanning from December to November, I was billed 70,800/- in December 2023, rewarded with 30k TAJ Vouchers. My usage pattern has remained consistent, averaging around 2-2.5 lakhs monthly across a spectrum of expenses, with a clean record devoid of late fees.

My financial landscape boasts an ITR (FY23-24) of 21 lakhs, poised to rise to approximately 30 lakhs in the upcoming filing. Coupled with a monthly salary of 3 lakhs and additional streams of income, my financial standing is robust. AMEX has entrenched itself as the quintessential family card, with my parents and wife also enjoying lucrative salaries.

Adding to the mix, on March 22, 2024, I was granted the AMEX Platinum Travel card, sporting a credit limit of 8 lakhs. Residing in a Tier 3 city, my pin code falls outside AMEX's serviceable cities, while my CIBIL score stands at 775.

Current Issue:
On March 29, 2024, I was received a monthly bill totalling 9.5 lakhs, encompassing expenses ranging from travel to shopping to online returns. In early April, I attempted a transaction of 2.5 lakhs on Tata Cliq Luxury, only to have it denied, accompanied by an email citing my higher than usual spending pattern. Acknowledging this, I reduced the transaction to 1.5 lakhs, which went through successfully.

However, the saga continued when a week later, I found myself on the receiving end of an email from AMEX's Financial Review team, informing me of the suspension of my account pending a financial review. The request was straightforward: submit financial documents including ITR, bank statements, and salary slips. Swiftly complying, I awaited further instructions.

A day later, a call from the AMEX FR team urged me to clear the outstanding balance by the due date. Despite having a 15-day window, I chose to wait until the last moment, a decision fuelled by frustration. In the midst of this ordeal, I decided to cut ties with my newly acquired Platinum Travel card, deeming it pointless to retain a suspended card in my wallet.

Upon settling all accounts within the stipulated timeframe, I received yet another call from the FR team, this time delivering the news of the permanent cancellation of my AMEX account. When pressed for a rationale, they remained tight-lipped. Perturbed by this development, I demanded a refund of the annual fee I had paid just four months prior, amounting to 70,800/-. Despite my insistence, the FR team failed to oblige. Undeterred, I made it clear that I would escalate the matter to higher echelons of customer support (Head-customerservicesindia@aexp.com), leaving me in a state of limbo as I await a resolution from the AMEX customer support team.

Latest Update:
On May 11, 2024, driven by curiosity, I applied for both the Platinum Travel and Platinum Reserve cards. Surprisingly, both applications were approved swiftly, with no requirement for vKYC. While the Platinum Travel application necessitated financial document uploads, the Platinum Reserve application did not demand any such financial documents. Emboldened by this success, I decided to push further and applied for the Platinum Charge card too just to see whether or not the application will be approved or not. Within 12hrs, platinum charge card application was approved too.

The credit limits assigned were as follows: Platinum Travel - 75k, Platinum Reserve - 6.4L, and the Platinum Charge boasted a shadow limit of 12L. Fast forward to today, May 17th, and I possess all three cards, freshly re-issued, yet to be activated.

In an effort to streamline my cards, I reached out to Platinum customer care, expressing my desire to reactivate my previously suspended Platinum Charge card, which had been canceled by the FR team. Given that I had already paid the annual fee for the previous account just four months ago, it seemed nonsensical to let go of it, especially since AMEX had already issued me a new charge card. Unfortunately, the customer care representative informed me that they were unable to reactivate the canceled card. Consequently, I have to pay the annual fee once again for the new charge card, leaving me perplexed by the entire process.

AMEX Customer care also clarified that with the Platinum charge card, the Platinum Reserve would be complimentary as a companion card. Now all three new cards are yet to be activated, and unless AMEX re-actives my previous cancelled card or waive of the fee of the new card since i already paid the fee of the charge card in Dec 2023, I am thinking to shove the AMEX cards in gutter. In the last one month, I have moved all my expenses to HDFC Regalia Business (HDFC CC holder since last 12 years) with no issues at all.

So, here's an update on my AMEX post:

After going back and forth, AMEX refused any refund on my previous cancelled AMEX Plat charge card, but offered 30k worth of TAJ Vouchers. In total I got 30k taj vouchers (during the renewal in Dec 2023) + 10k taj voucher (birthday gift) + 30k taj voucher for abruptly canceling the card and escalating it = 70k worth of vouchers.

For the new card, I am getting 45k worth of TAJ vouchers + 20,000 referral bonus reward points. Not bad I think and I will see next year whether to continue with platinum charge or not.

 

[flimz]

So here goes my story regarding AMEX FR:

Background:
Since 2016, my journey with AMEX began with the Gold charge card, eventually upgrading to the Platinum charge card in 2019. With an annual cycle spanning from December to November, I was billed 70,800/- in December 2023, rewarded with 30k TAJ Vouchers. My usage pattern has remained consistent, averaging around 2-2.5 lakhs monthly across a spectrum of expenses, with a clean record devoid of late fees.

My financial landscape boasts an ITR (FY23-24) of 21 lakhs, poised to rise to approximately 30 lakhs in the upcoming filing. Coupled with a monthly salary of 3 lakhs and additional streams of income, my financial standing is robust. AMEX has entrenched itself as the quintessential family card, with my parents and wife also enjoying lucrative salaries.

Adding to the mix, on March 22, 2024, I was granted the AMEX Platinum Travel card, sporting a credit limit of 8 lakhs. Residing in a Tier 3 city, my pin code falls outside AMEX's serviceable cities, while my CIBIL score stands at 775.

Current Issue:
On March 29, 2024, I was received a monthly bill totalling 9.5 lakhs, encompassing expenses ranging from travel to shopping to online returns. In early April, I attempted a transaction of 2.5 lakhs on Tata Cliq Luxury, only to have it denied, accompanied by an email citing my higher than usual spending pattern. Acknowledging this, I reduced the transaction to 1.5 lakhs, which went through successfully.

However, the saga continued when a week later, I found myself on the receiving end of an email from AMEX's Financial Review team, informing me of the suspension of my account pending a financial review. The request was straightforward: submit financial documents including ITR, bank statements, and salary slips. Swiftly complying, I awaited further instructions.

A day later, a call from the AMEX FR team urged me to clear the outstanding balance by the due date. Despite having a 15-day window, I chose to wait until the last moment, a decision fuelled by frustration. In the midst of this ordeal, I decided to cut ties with my newly acquired Platinum Travel card, deeming it pointless to retain a suspended card in my wallet.

Upon settling all accounts within the stipulated timeframe, I received yet another call from the FR team, this time delivering the news of the permanent cancellation of my AMEX account. When pressed for a rationale, they remained tight-lipped. Perturbed by this development, I demanded a refund of the annual fee I had paid just four months prior, amounting to 70,800/-. Despite my insistence, the FR team failed to oblige. Undeterred, I made it clear that I would escalate the matter to higher echelons of customer support (Head-customerservicesindia@aexp.com), leaving me in a state of limbo as I await a resolution from the AMEX customer support team.

Latest Update:
On May 11, 2024, driven by curiosity, I applied for both the Platinum Travel and Platinum Reserve cards. Surprisingly, both applications were approved swiftly, with no requirement for vKYC. While the Platinum Travel application necessitated financial document uploads, the Platinum Reserve application did not demand any such financial documents. Emboldened by this success, I decided to push further and applied for the Platinum Charge card too just to see whether or not the application will be approved or not. Within 12hrs, platinum charge card application was approved too.

The credit limits assigned were as follows: Platinum Travel - 75k, Platinum Reserve - 6.4L, and the Platinum Charge boasted a shadow limit of 12L. Fast forward to today, May 17th, and I possess all three cards, freshly re-issued, yet to be activated.

In an effort to streamline my cards, I reached out to Platinum customer care, expressing my desire to reactivate my previously suspended Platinum Charge card, which had been canceled by the FR team. Given that I had already paid the annual fee for the previous account just four months ago, it seemed nonsensical to let go of it, especially since AMEX had already issued me a new charge card. Unfortunately, the customer care representative informed me that they were unable to reactivate the canceled card. Consequently, I have to pay the annual fee once again for the new charge card, leaving me perplexed by the entire process.

AMEX Customer care also clarified that with the Platinum charge card, the Platinum Reserve would be complimentary as a companion card. Now all three new cards are yet to be activated, and unless AMEX re-actives my previous cancelled card or waive of the fee of the new card since i already paid the fee of the charge card in Dec 2023, I am thinking to shove the AMEX cards in gutter. In the last one month, I have moved all my expenses to HDFC Regalia Business (HDFC CC holder since last 12 years) with no issues at all.

That was a good read. Thanks for sharing your experience.

 

[Heisenberg37]

I also had gone through Amex FR, they asked for my ITR and payslips, which i duly submitted within the next half hour. they had my limits reduced to about 60% by next day and suspension cleared.

and for info, i did some manufactured spends before that to meet the targets, but not very big amounts, to the tune of 5-6 lakhs in the year

As my acc is under FR
May i ask how much was your itr and how much limit was reduced?