Amex Financial Review: The Day All My Cards Got Frozen?!

🔍 Demystifying the American Express Financial Review process 🔍
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About this video:
I had all 6 of my American Express cards suspended due to being audited under AMEX Financial Review. See how I communicated with AMEX and got my accounts back!
⏰ Timecode ⏰
0:00 - Intro
0:22 - Account Suspended
1:46 - First Call with American Express
5:07 - Bank Statements and Pay Stubs
7:40 - Second call with AMEX (and restoring my account)
9:14 - Missed Payments During Suspension
10:09 - Wrap-up of the AMEX Financial Review

[@TechYodaSV]

What triggered this? I have a longer than 15 year history with Amex and several cards as well as business checking. If they froze any of my cards or accounts for a financial review like this, that would be the last day I do business with them. I’m flexible about a lot of things in this world, but mess with my money and that’s the end.

[@hutchmills]

Totally get that! It definitely made me re-think how much I'm choosing to utilize Amex, but at the end of the day I value the relationship (and their customer service was top notch in helping resolve this). But yea - absolutely considered switching some of my primary expenses over to other institutions.
Unclear what actually triggered it, but another comment suggest it could've been an overall increase in regular spend and income.

[@newagain9964]

fax.i'd prob let them close my 2 accts (soon to be 1, only need plat) b4 i give them that info.

[@ToboeKey309]

​@@hutchmills you're fuckin lucky they didn't CANCEL u completely when u r paying your credit card FUNDS have to be there to make the credit card company so yea it's basically your fuck up lol all credit card companies are the same they will ban u and close your accounts if funds are not available when u r paying that certain credit card so keep that in mind and I have to say this again U R SOOOOOOOO FUCKIN LUCKY THEY DIDNT CANCEL U COMPLETELY 😵‍💫😵‍💫

[@forgottennewsclips]

It’s not your money, it’s debt so it’s actually THEIR money which they lend to you under certain preconditions. If you say you make $90k year, but spend and pay back your debt in a manner that’s consistent with someone so makes $30k a year then they’ll want to review to make sure you have the income you say

[@johnnguyen7365]

I also got FR’d once I got my platinum and also again when I got the Amex Marriott card. Both times they said it’s normal but I didn’t change anything. My FR’s only took a couple days because I called them every day to check on status

[@cherifbar]

40 years with American Express and I have never heard of this? How many Amex cards does a person need. I only have one a gold card.

[@blueants-lq7lr]

i just gave them my 2 years agi, 4 pay stubs and 2 months bank statements. My checking account spent is between 5-7k/ month

[@newagain9964]

amex dont do FReview without a signficant cause, u should have discussed what changed (ie elevated spending, cycling thru credit, added AUs, more foreign purchases etc). anyways, i'd probably let them close my 2 accts (soon to be 1, only need plat) b4 i give them that info.

[@user-ro5pw2lz5k]

Hey what if you bank statements and pay stubs are less than what you stated on the app and before getting approved for Amex card ?
I have a 50k credit limit on business , can they lower it ?

[@sourcingsailor4987]

What triggered the financial review? From watching other content creators, most financial reviews are triggered when there's a huge change to either your income(mostly an abnormal increase, like going from $40K per year to $70K per year) or a change in your spending habits(going from spending maybe $50.00 to $250.00 a month on a particular card, to spending upwards of a couple of thousand per month).
This happened to both my Wells Fargo checking account and my Chase checking account, when both of their algorithms recognized a drastic change in my spending habits.
Also, is this the first financial review you have experienced via any card issuer? if so, how similar were the interactions from different issuers?

[@robertjarrell7276]

Would love to see a response to this!

[@hutchmills]

Oooh, good question and great insight! Not 100% sure what triggered it tbh, though I did update my annual income and increase my monthly spend on a pretty regular basis over the past few months. I have done this a few times in the past with Amex though, so feels odd that this would trigger it.
Haven't experienced this with other institutions (...yet 😅) - super curious if the process is any different!