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Financial Review Triggered due to 1 mistake

Heisenberg37

Heisenberg37

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I called amex to increase limit of my MRCC
They says they’ll review the account
And i was in financial distress so i used to swipe my card at a merchant and pay them on time.

How they asked me what were those transactions and i told them he’s my friend and i purchased a car from him and paid via amex.

Now they’re asking me itr and stuff
I have itr of 12.5 L
Will that work?
 

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SSV said:
What income did you declare when you apply for the card?
What income did you mention when asked for any manual LE?

If both of these amounts are near 12.5L then your itr of 12.5L will work..
You should also make sure uournother details like occupation etc also should match..

Basically whatever you claimed previously with Amex have to be proven with documents now..

All the best
Click to expand...
The thing is i mentioned 10L and no
Documents were asked
For plat charge also no income proof was required.
But they can’t issue plat charge at 12.5 i guess
 
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Wealth is my birth right! said:
With AmEx once flagged then forever u cant get card from them with the same pan or address
Simply they ask docs but no progress
But very high random they do like this
Just move on no RBI and all will work out
Click to expand...
who cares...anyways there cards are fake status symbols for psuedo rich....and rewards there are much better options
 
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chasni said:
This is second case where the FR user has Plat Charge. Does Plat Charge ownership attract more scrutiny?
Click to expand...
its an algorithm.. if there is suspicious transaction not matching their internal profiling then FR can trigger.. plat charge being high limit is stricter as transaction value can be higher in 1 transaction
 
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Anupama_Jha said:
Financial review? Is it something related to what axes 🪓 asks proofs for business spends??
Can you post any email response from them (if any)
Click to expand...

amex always has this because of this still suggesting even if they didn't asked income proofs while approving card, definitely will ask some time in membeship and makes us trouble.

so, its better to use proper income rather fake details.
 
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msankadi said:
chalo bach gaye...its really alien to me how a piece of plastic,phone,jewelery etc starts to become so important to a person to an extent define them..its like they became rich by bank balance but poorer by buddhi..but maybe i am the odd one out....
Click to expand...
it's due to external effects :p
 
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helloworld said:
amex always has this because of this still suggesting even if they didn't asked income proofs while approving card, definitely will ask some time in membeship and makes us trouble.

so, its better to use proper income rather fake details.
Click to expand...
in a rebellious way.. they can take a hike...high handed behavior is not appreciated.. maybe there are some mischief makers.. but this sounds like an FIR with a court of law!!! The whole approach is v non customer centric
 
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Vaastav said:
Well, Their terms don't mention that they can conduct any future financial reviews or suspend the card if you don't provide the requested documents. I think you should file a complaint with RBI ombudsman.
Click to expand...


... some points in this pdf

American Express can terminate the Cardmember Agreement and cancel your Credit Card at any time on immediate notice or at any time to restrict the use of the Credit Card without giving reason or cause.

The Card Carrier enclosing the Credit Card will show the initial Credit Limit applicable to
Cardmember’s Account. American Express will notify the Credit Limit and Available Credit Limit to the Cardmember from time to time on the monthly Card statement. Any request to increase the Credit Limit post the approval of the application will be reviewed by the Bank only after the Bank receives a request from the customer & any documents that may be asked for. The Bank basis an internal review reserves the right to decline the request.

....
 
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Heisenberg37 said:
I called amex to increase limit of my MRCC
They says they’ll review the account
And i was in financial distress so i used to swipe my card at a merchant and pay them on time.

How they asked me what were those transactions and i told them he’s my friend and i purchased a car from him and paid via amex.

Now they’re asking me itr and stuff
I have itr of 12.5 L
Will that work?
Click to expand...
just checking the assumed downside here....are you scared of just closing the account or something bigger can happen too?
 
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helloworld said:
amex always has this because of this still suggesting even if they didn't asked income proofs while approving card, definitely will ask some time in membeship and makes us trouble.

so, its better to use proper income rather fake details.
Click to expand...
Yes they give good limits and ask for just employment email to know our job status
But when we ask LE they may ask ITR
 
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