AMEX suspend my Platinum Charge Card

[petroslakis]

Hey All,

Does anyone have the same experience with me?
1. Opened an Amex platinum (personal) charge in December 2024.
2. Usual monthly spending 20-30k aud.
3. Always pay in full (most of the time i pay in weekly basis, to keep the balance low)
4. Last week buy a car for my parents, put down a deposit about $100k lol using the Amex. Statement closing is still far away (about 25days).
5. Today received a phone call from them telling my card is suspended, and they asked me to provide them my bank transaction statement that i used to pay this card in the last 2 months. (which i will provide soon)
6. My actual plan is paying half of it this week eventhou it has not been billed yet, and half once the statement closed which is also still next month lol.
Any idea?
7. kindda worried they will close my account without any reason.....

 

[levelnine]

Sounds like a financial review. Quite common if you spend well in excess of your typical charging pattern with Amex. They're mainly interested in working out if you have the income/assets to pay off the balance. General advice is to pay down the balance as soon as possible and then provide bank statements.

 

[petroslakis]

Sounds like a financial review. Quite common if you spend well in excess of your typical charging pattern with Amex. They're mainly interested in working out if you have the income/assets to pay off the balance. General advice is to pay down the balance as soon as possible and then provide bank statements.

thanks Levelnine. yeahh.. me and my partner is using this card, as i am the main holder. so we both pay this card together.

any idea whats the chance?

 

[levelnine]

thanks Levelnine. yeahh.. me and my partner is using this card, as i am the main holder. so we both pay this card together.

any idea whats the chance?

Depends on if you have the income/funds to support $100K charges. Outcomes range from card completely unsuspended through card unsuspended with spending limits imposed to complete shut down of all Amex accounts.

 

[Ansett Nostalgic]

Based on the facts you've stated you should be able to get the card reactivated without any problems. Seems like a financial review based on high velocity spending rather than anything inappropriate.

 

[petroslakis]

Based on the facts you've stated you should be able to get the card reactivated without any problems. Seems like a financial review based on high velocity spending rather than anything inappropriate.

Yeah thanks Ansett, they also mentioned and reconfirmed that i made the $100k transaction when they called. I said yes, and these card was used by me and my partner, we both pay together using our joint account. You recon the statement for that joint account is enough to please them?

 

[Ansett Nostalgic]

Should be.

 

[Franko Costa]

Should be.

Given it is a new card and such a large transaction, you should always call first before making the purchase

 

[zainman]

What car is it?

 

[petroslakis]

Given it is a new card and such a large transaction, you should always call first before making the purchase

Yeah i did. They say as long as it still within your spending power should be okey, and when i made, they do financial review. Lol

 

[danielwang002]

This is FR - and if you keep your spending pattern like this, several more FRs you may be invited for centurion - heard in US they does this, FR not always mean it is bad in nature

 

[petroslakis]

They are brutal.
I paid half already by today. Statement closing still on 25/4 and due on 9/5 and now asking me to pay the rest half by 18/4 otherwise cancellation. Crazy!!!

Anyway i can make a complain about this? They are being unreasonable.

This is FR - and if you keep your spending pattern like this, several more FRs you may be invited for centurion - heard in US they does this, FR not always mean it is bad in nature

 

[danielwang002]

They are brutal.
I paid half already by today. Statement closing still on 25/4 and due on 9/5 and now asking me to pay the rest half by 18/4 otherwise cancellation. Crazy!!!

Anyway i can make a complain about this? They are being unreasonable.

Well AFCA could help but wont guarantee. This seems to be unrealistic though.

Out of curiorisity have you provided them the evidence that you have the capacity to repay the full balance by due? What did they say?

 

[petroslakis]

Well AFCA could help but wont guarantee. This seems to be unrealistic though.

Out of curiorisity have you provided them the evidence that you have the capacity to repay the full balance by due? What did they say?

Yes very unrealistic, their ask is ruining all my plan.
Evidence provided, and they are saying i don't have enough balance to pay off right now, like they want to see the available fund right now to pay off all. Lol on the other hand, my bank statement showing fund in and out way more than that in the last 6 months.

 

[Happy Dude]

What car is it?

I shudder to think what the car that requires a 100k deposit actually looks like.

But which dealer? This should be a celebratory post having a dealer accept Amex for that amount.

Sounds like Amex are panicked that there is a disconnect between such a purchase and the income provided at application.

 

[levelnine]

Not all that surprising. A 5X increase in spend on a card less than 6 months old screams bust-out risk.

 

[petroslakis]

Calling again just now, made a big cough complain for;
1. Bullying me by asking me to pay the rest 50% by next week, as this is outside the cycle.
2. Breech the contract by imposing me to pay immediately and eventho there is no default.
3. Ignoring my good gesture and genuinity for paying half event before the cycle finish.
4. Criminalising me for making large purchase.
5. Spending power tool should reflect on what you are willing to lend, not lending after that scared of yourself then insult someone like he couldnt make a pay.

And suddenly, the person say; we will request you to pay 70% of the car, then i said “whats the number?” And say i will send this to credit team to review our decision again by monday. LOL

It appears that there is inconsistence between a person i spoke just now, the one asked me to pay by next week.

 

[MEL_Traveller]

I think this comes under clauses 10 and 19 of the platinum charge card terms and conditions.

Clause 10 says that unless they inform you otherwise, each charge is approved based on the spend level and credit history of your account(s) with AMEX.

The fact that AMEX approved the 100k charge means they have approved your spend and limit for at least that amount.

Clause 19 says AMEX may require charges to be authorised by them before approval. Clearly in this case they did. So isn’t it a bit late to withdraw that approval after the fact? They had their chance to deny approval.

Clause 27 allows for AMEX to suspend your card for several reasons, including that they suspect you will not be able to pay. But if that was the case, they should have refused Authorisation under clause 19. Which can refused if they don’t believe you could pay.

Maybe escalate the complain, as set out in the terms and conditions?

 

[petroslakis]

I think this comes under clauses 10 and 19 of the platinum charge card terms and conditions.

Clause 10 says that unless they inform you otherwise, each charge is approved based on the spend level and credit history of your account(s) with AMEX.

The fact that AMEX approved the 100k charge means they have approved your spend and limit for at least that amount.

Clause 19 says AMEX may require charges to be authorised by them before approval. Clearly in this case they did. So isn’t it a bit late to withdraw that approval after the fact? They had their chance to deny approval.

Clause 27 allows for AMEX to suspend your card for several reasons, including that they suspect you will not be able to pay. But if that was the case, they should have refused Authorisation under clause 19. Which can refused if they don’t believe you could pay.

Maybe escalate the complain, as set out in the terms and conditions?

Yesss!!! Thanks mate! I will bring this on too when they call me on Monday again after their 3rd review LOL