Paul’s credit card arbitrage blog

So I just wanted to talk about a friend of mine who was notified that he was under an amex financial review last week.

Basically at the gas pump his card wasn’t approved and later turns out they shut it down until he provides Amex access to his TAX RETURNS from the IRS!!

Who are they kidding to ask for such personal information. I advised him on what to do and this is what many people on fatwallet finance do when they get an American express financial review call or letter saying that his account is frozen.

When you call them and put your credit card # into the phone prompt for identification you get sent right to the financial review department, YOU DON’T WANT THAT! What you want to do is at the prompt just keep pressing 0 till you get a regular operator, then you tell them you want to cancel the card,which they will do promptly. They cannot see that your account is frozen and is under financial review.

The reasons you don’t want to speak to the Amex Financial Review Department

1. They are Rude Pricks
2. They will talk down to you and try to make you give them access to your private IRS info by having you sign a form and send it in to them
3. If you close your account through them, on your credit report it will say that “the account has been closed by the granter.” That looks really bad on your account and doesn’t reflect well on your credit score….

So hopefully nobody here has to go through what he did, and by the way his balance transfer is still fine he doesnt have to pay it all off even though he closed the card, and he still keeps his special apr % interest rate

SUCK IT AMEX financial review !

PS : if you want to check your credit report for FREE , the Freecreditreport.com link on the left is still valid so you can still get your credit report from Experian just cancel after 30 days to avoid any fees

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