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the worst thing that could happen is financial review during tax season, what a nightmare that would be fighting a two-front war between IRS and Amex.

$100k in 6 days on a credit card???? Dave Ramsey is boiling mad !!!

I’ve manage to avoid the dreaded review so far, but I wouldn’t be surprised if it happened at some point. I appreciate this insight a lot!

Amex is more thorough in their financial review than other banks who would not bother with a time consuming task. I'm sure the reason for a financial review is because by banks are required to know their customers. When you charge and pay off your account in excess of what is normal for your stated income, that would raise red flags. I can tell the IRS that my income is from illegal activity and they will gladly accept my tax payment on those gains. If I tell Amex the same thing then they will close my accounts due to reputational risk. Chase does this if they find out you are a defendant in a high stakes court case, if you have had excess cash deposits, or simply by earning a living by being an escort. Amex does not want their brand in the same news story when you get arrested for criminal activity.

"Sebby is balling too hard, we've seen the vacation videos." - Amex

Made purchases on a credit card, but paid them off at the end of the month. One time, I took advantage of a 0% interest promotion for a special purchase, then they hit me with the financial review because of utilization of that promotion offer, despite my making significant payments towards it. They still ended up reducing my limit despite me showing that I’m MORE then capable of wiping my balance to 0. What the heck, Amex?

I had a review with them just last week. They sent me an Orwellian email saying they've been monitoring me, my spending, credit score and other things and made a demand for payment of over $5,000 within 3 days or they would reduce my credit limit. $5k in 3 days is absurd and I couldn't pay it. They reduced my limit by about $3,000. This was mostly the result of tapping other credit from other lenders, not Amex - so be aware! Not the worst thing that can happen at all though. Something similar happened to me with Citibank but they gave no warning at all and just reduced my limit. I paid off the entire balance and then they raised my limit several thousand above what it was before!

Exactly! A random purchase from a Rolex boutique isn’t so random when you get the call haha. Glad to hear you mention this 😂

One of the major historical selling points of the charge card products was that you did not have to disclose income, only that it met a threshold. Credit was allowed as they "learned" of your ability to pay. Even today income is a "forward looking statement". There is no way II would submit to a review. I did once get a call asking why my patterns changed after an office move.

When I first received my Amex gold I used the spending power tool and was told to stop checking (I did it 3 times In a row with slightly higher numbers each time). Quickly realized how stupid that was after, and now I will refrain unless absolutely needed lol

Hey Sebby I have had two AMEX personal cards for the past year (Plat / Gold - both standard) and just opened two AMEX business cards (Blue Plus / Gold). I listen to you guys talk about different card concepts in the US as "podcast" material, but this is the first I heard of account reviews and what triggers them. I've used that tool to test the "limit" out of sheer curiosity a few times without actually planning to spend ... good thing that I know now not to be too playful with it. Thanks!

Remain under the radar, don't do something crazy, and they won't bother you. I had my Everyday card cut in half because I wasn't using it much, but that's OK. I'll live.

In New Zealand they are doing Financial Reviews on customers who were approved cards between 2021 to 2023. The reason being the country has implemented tougher lending laws which impact the lender more than the borrower and Amex is relatively easy to get approved here so they never delved into accounts, income, wealth, spend etc. Now theyre going back and rechecking

The flowchart you showed is not correct. You only get shutdown if you don’t submit the documents they request. The financial review is to determine if they should lower your credit limit and by how much. This is what the reps told me when I went through this. I was in college and had basically zero income and had put like $100k or something in the application (since I was claiming my parent’s income, which I used for expenses). I sent in my 4056-T that showed like $3000 for the year from some random part time job and they were like ok cool and just gave me a $5k credit limit. So don’t worry if you were in a situation like mine. And by the way, the trigger was spending $10k in a month on “groceries”.

I have zero worries lol. I spend an average of $3k-5k a month on my Amex cobalt card and as soon as the bill comes out, I pay it in FULL right away. Amex loves me lol. I do none of these that you mentioned to get reviewed. So I’m good. My credit file is impeccable. Low utilization, high limits of around $85k in total - and I always pay the bill in full on all my cards. I’ve been with Amex for 6 years. Don’t apply for multiple cards in a short period of time. No matter how good your credit is. Wait at least 6 months between applications.

I literally just posted about my experience with this for the Hilton Business. I just recently had to send in 4 months of Business checking Statements to a secured link. It took a week for them to send the link but they approved it the day after they got my statements. I already had the Business Gold, Green and BBP

🗺 re: 13:23, YES I have been saying this! You are one of the few KZfaqrs that actually talks the talk and walks the walk, with lived experiences to provide valuable context for these cards. Thank you Sebby!

Don't apply for tons of other credit Only have an amex card & debit card Don't have NSF on a payment Don't keep asking for credit limit increases Don't check to see what you can charge online. Don't lie about your job/income.

hell, they just canceled me and said i asked for the cancel. took my million membership points away. repeated calls got me nowhere. then a rep said point blank those points are lost forever and you will not get them back. i am like wtf - you think i will cancel a card and leave a million points on table? finally got someone to listen after multiple calls, letters, and 4 months. still no reason why. probably had $30k revolving each month - meaning spending and paying $30k month....so i had to pay that off. that was tough but did it...because spending stopped and balance was due. this is still a raw thing to me....and i moved my $300-500k a year to other cards. still got the plat but i was shocked how unresponsive they were.

🗺Awhile ago I was going to buy a lot of new furniture. I called AMEX (Bonvoy Card) to request a CL increase and it was declined. About a week later, got a letter in mail (and email) saying my credit limit was decreased about 50%. There were no changes to my credit or spending habits all I did was make the request. I was not happy with AMEX. Then, after another week I got a second letter (and email) from AMEX apologizing and saying they made a mistake and my Bonvoy card would be brought back to its original limit.

🗺️I have never had an official review like this. However, you mentioned college students. I was a college student and graduated to work in the engineering industry and my income/spending changed substantially last year. I had the Amex everyday card and had to send extra documents to be approved for the Gold card.

🗺 This is honestly a really helpful video and will likely make people a lot less stressed if they're going through a review themselves. As someone who recently had a job change and my income has been in flux, I've wondered if that'll prompt a financial review with my future card applications, but only time will tell, and at least I'm way better prepared now if it does happen! Thanks for the video Sebby!

What a great video Sebby, I learned a lot, even when I don’t have AMEX, anyway, where can I find one of “don’t snooze” toys 😆👌🏽

Didn’t need a cover sheet in Canada, uploaded documents called them back next day. Interviewed on phone 15-20 minutes good to go!

My man said “no it was not drugs”😂😂😂😂

🗺, never had a financial review, I think I got an early warning call when I was in the middle of moving when I began charging a ton of expenses to a bix plat account. They wanted to know the nature of my biz, I think the fact I was moving and asked for a call back next week was enough to satisfy. If I got a review I'd submit.

Here's an idea, if you know you are about to make a huge purchase, and you don't want to trigger your card(s) being locked out, at best or a financial review, at worst, what's wrong with calling the card issuer's fraud/security department, making them aware that you plan to make a huge purchase, essentially giving them a heads up?

Keep your income updated in your account. You get a raise or a new job, update it. It’s quick.

My account has been flagged multiple times from purchases made in Vegas… I’ve never been to Vegas.

After 30 years with AMEX, I've decided they're more trouble than benefit. I'm happier with known limit bank-issued credit cards.

35 years with AMEX and I never heard of a review. Perhaps they don’t do reviews for Canadian Customers?

I may spend $2-4k and then a couple days later pay it off on the Gold. I usually transfer my linked bank account several times a month.; pay as you go. I pay rent, carpayments, tuition, regular daily transacations, nothing shady like strip clubs or casinos. Is this bad? Should I wait and pay one payment before or after the statement closes?? Got the card a 3 months ago. DANG I also check the spending power-- I wont do that anymore.

🗺 Being a naturally pessimistic person I have always worried about financial reviews. It's good to know that it's something not worrying too much about anymore 😅

Wonderful video as alway Sebby! I appreciate how real you are with us about your experiences.

Wow that is crazy that check your spending power link can possibly cause a review. I have to admit I have sometimes played around with that back in the day but thankfully not that much. Lol, thanks for the information! 🗺

🗺️ Not a financial review, but when I applied for my AMEX Delta Reserve Business card in January of this year they didn’t instantly approve me - 1st time that’s happened in a long time - and asked to see additional financial documentation. I allowed them to have access to my business statements and within an hour or so I was approved. Stressed me out for a few minutes, but thankfully it worked out.

😂 I just had one. I spent 67k in 3 hours and checked my spending power once. I survived, tho. They just asked for bank statements. It only took about 6 business days.

Kind of amazing that FB is still paying people $200k salaries...everyone I know stopped using FB years ago.

🗺 I didn’t have my Plat AmEx card long enough for them to do a fin rev. It was horrible trying to get any of the “perks” and I canceled the card. I wondered if I made the wrong choice but now seeing they do these “financial reviews” I think I’m ok with choosing to cancel.

🗺 Found this one particularly interesting. This is one of those "I hope this never happens" situations, but yeah, if you've been doing the right thing, there really isn't anything to worry about. The issue is when you're actually doing something that you shouldn't and putting all those liquid assets on black (you should put it on red). Jk, please gamble responsibly 🤣

I am watching your video again. I am in a financial review with them right now. It’s so annoying. I sent them two months statements for my personal & business checking accounts. I think I got flagged because I was checking my spending power about 5 days in a row. Because my spending has been the same, my credit score as just went up, not ever missed a payment in my life, etc. So I am pretty sure it was checking my spending power. Since there is no set limit. When I’d rather have a set limit.

I ran into an issue where the military was overpaying a lot for 2-3 years. I always sat the money aside and would pay it at the end of the year AE never gave me an issue of a random 20k-25k payment For me though AE platinum hasn’t been worth it. The rewards for day to day are pretty bad

There's a huge difference in lying on your original application concerning your income and reporting modest gains, meaning, if you make $50K a year, but tell AMEX you make $60K or $65K, then I belive that's acceptable, especially if you are managing your card(s) perfectly and NOT making huge purchases for high-demand secondary market items. Sebastian even disclosed he spent $100K in six days and attempted to purchase high-dollar Apple products.

🗺️ when I first got my AMEX gold card, I tried the check spending power tool quite a bit just to play with it. It triggered a financial review. I submitted all of my documents, and it ended up being fine. I haven’t used the tool since lol.

Going on a 2 week and. I budgeted $4000 for the trip. I am planning to rent a car and stay at a couple of hotels for several nights. Should I contact Amex about my upcoming trip and alert to my planned spending on my Amex Gold? 🗺

"...and no it was not drugs!" Had me spitting out my food!

🗺️ thanks so much for sharing. I’ve never had that happen,but was scared that it might the first time I paid my taxes with the Platinum card. It was about 20k and I thought why should I do a debit? How about I use the card and then immediately pay the card off with the cash once the charge has hit. It’s worked out and I’ve been doing that every since.

🗺 Great insights and tips for any future review (never had one, but hope it never comes)! Given the value Amex gives, I think I'd definitely submit. Would Aeroplan have been a close choice for transfers, given quite a few decent redemption partners like EVA, ANA?

I think Dave Ramsey is secretly working in the AMEX Financial Review Dept and is personally triggering a financial review for "everybody," failing "everybody," and closing "everyone's" AMEX accounts!

the most relatable intro i've ever heard :D

For stuff like that I've left AmEx in 2019. I've survived FR and then closed all 7 accounts with them. I hardly can see any reason why anyone should own AmEx CC today. Chase has better points, VISA is more widely accepted, especially abroad. Customer services actually speaks english, not bangladeshi. No wonder Q2 was good for JPMC.

Wow I didn’t even know financial reviews existed! 🗺️

Again another 🔥 video ! like got a call from Rolex yoru panda daytona or pepsi is here LOL. Anyway is that a Remowa language?

Thanks for putting this together

Appreciate the transparency!

Spend in Vegas actually spooked me, I’m going to Vegas in August & planning to get the Business Gold for that trip.

🗺 Good video. Do you know what is displayed on a credit report if it is closed due to the account holder not submitting for a review? I'm just curious. Thanks.

They’ll limit all the cards issued if you are a few days late on one. I’ll be slimming down to one business Platinum and my Delta Reserve. Closing the others. Great to have but they can demand a fat chunk of cash at one time and it’s usually not the best timing.

🗺️. I got my AMEX Platinum about 5 months ago and I love the card. I have to make purchases every month for work (like $1,500 - $3,000) and they are very quick to inform me I should make a payment. Sigh.

so if i decide to buy a 2500$ macbook with my new amex gold card is it going to be a red flag ?

What’s happens if my wife and I have a different bank accounts but we pay our bills together will this trigger.

Did AMEX inquire about those "secondary market reselling" purchases?

Me getting tax document requests from Amex: So you think you are better than the IRS hau?

Thank you! Always helpful.

🗺 - How do you manage the fees on all the AMEX cards? I hate the membership fee $675 I pay. Likely, I should not have the Platinum since it's a prestige card, not a workhorse card...if that makes sense.

🗺️Had my cards locked down multiple times when I was spending 20-50k a week. I just paid it off a week later and didn’t have to submit any documents.

If you have the cash and you're just looking for points, pay the card upfront and then charge it.

It seems like I only hear about issues like this with Amex. Perhaps it’s because they have charge cards and it doesn’t happen as often with their credit cards.

So if you can't pass the financial reviews, do you use the points as well? If you do, you should make a video about for people who wants to play safe and transfer points to the best Amex transfer partners. Because some of the points expire but some not and I'm sure you know which transfer partners are the most flexible! Also do you think having an Amex saving account would help to avoid Amex Financial Review since they'd see that you have money to cover your balance?

🗺️ Such an insightful video Sebby! Really glad to hear your accounts are still in good standing and no action was taken. Good on you for de-risking too. I thought they would also freeze your MR account but it’s good to know you can at least transfer out.

I just got my first Amex card and from some of the videos I’ve seen Amex sounds like an abusive boyfriend and the customer is the girlfriend with a black eye that always runs back to the boyfriend 😂

This gives me pause about opening a Platinum card right before getting married. Giant ramp in spend followed by a Vegas honeymoon. Does anyone know if calling them and saying, “Here are the charges you can expect and here’s why” might prevent a review?

Hey Sebby, I submitted my docs 3 weeks ago and confirmed Amex has everything they needed. In the past 3 weeks, I tried to call every few days and they just told me to wait and the review is not done yet. There is no estimated time of completion. Is there anything I can do to have it done sooner? 🗺️

Question: I sold a house last year. My income was huge. Should I submit this to my credit cards as my income? It is verifiable with the IRS although it is not representative of my typical income.

🗺️ good info, never knew that the reviews were that thorough.

Man that’s so scary 😟 I went through one earlier in January because my income has changed since I retired and moved to Florida. I sent them what they asked for and I was fine. I went from making over 500k to 60k in retirement income and social security. Not only amex didn’t cut my limits they even apologized to me and congratulated me on retirement

I usually pay early when my balances get too high. My one business card last month was at $74k and I paid it 10 days early. I wish that they’d let me out of pop-up jail early. I’d like to get their vanilla plat sub offer.

Hello. Quick question about the 35,000 limit for AMEX financial review. Will the limit count towards the 35,000 if you're added as an authorised user?

Hey Sebby ! Currently have the amex platinum card. Looking at getting the amex Schwab platinum. Any tricks to find the best welcome offer for the Schwab ?

At least they didn’t shut you down thankfully 🗺️🗾

Hi sebby, I know you’ve said that applying for say a gold card will probably lock you out of an elevated sign up bonus for the platinum card later on. Is the same true for applying for the co-branded credit cards, if you start your journey there Amex will have less of an incentive to lure you with a big bonus for their charge cards? Thanks!

🗺️ always good info Question: make a video of what cards to use for multipliers at Clubs (Sam’s, Costco) and improvement stores(Home Depot, Lowe’s, etc.)

If they did this to me, I'd just close and say bye. There's too many other cards out there to play games.

Hey Sebastian ! I just had a question for you, I have been trying to book an award flight to southeast Asia for a while now. And I’m willing to fly out of any airport. I’ve been trying to do a lot of research, but it seems like any of the flights I look for are already taken or are waitlisted. Can you please explain to me how you find availability on business or first class flights? It’s extremely difficult.

A lot of things you mentioned in this video doesn’t have a lot to do with being incapable of paying the money back, but in fact fraud paranoia. You shouldn’t be getting a financial review about things that have to do with fraud detection, that doesn’t necessarily make sense. Those risk are two completely different things.

No financial review, income is 50K and I had a baddy that is in dispute so not sure if I should apply for a AMEX yet. Your thoughts?

Hi Sebby. What is the best international airlines credit card you recommend? I don't travel emirates or Etihad

Do they do financial reviews in Canada with credit card companies?

So basically as long as you keep your spending low no crazy spend change and paying on time and or in full your good correct ?

🗺🗺🗺 KZfaq = That $100K spend, man!!! Baller move 😎😎😎 AMEX = Make sure he can pay 🧐🧐🧐

I only use roughly 20-30 percent of my current available pay over time limit on both my gold and platinum and make consistent on time payments for a expensive hotel i got last month on a plan it payment plan. Other than that my bce i mostly use for gas and necessities or anything expensive at the moment due to no apr for the first year. I have several other cards but if i absolutely can't pay them in full i pay usually double or triple the min required payment and i also alternate which ones i use for various bills. I know il be paying interest on my gold and platinum right now but its not like i max them out .

Always slightly worried doing travel medicine as 70% of my income is non-taxable. So to the IRS very mid to low income. But I’m reality that’s not the case.

Sebby, do you think Amex will ever change the benefits in Gold card anytime soon? I am personally not a big fan of the grubhub credit and CFU already offers 3% back on dining for 0 Annual Fee, so every year I wonder if 1~2% more back for $250 AF is worth or not..

Can we get a video on the AskSebby Business channel about this reselling opportunity? Sounds exciting

the subtle flex of not only spending 100K but paying it off lol. I love it

Sebastian: you mention buying items like watches and reselling them. Why would Amex care if we. Did this?

What does the prestige card have to do with the AMEX?

I'm facing financial review right now, can u suggest me, will they shut my cards or they will renew my account

🗺️ i always appreciate these vids!!! Always de risk!! 🤙🏽