Loyal customers of American Express have, on occasion, found that their accounts in good standing have suddenly been suspended. Only later have they learned that they are the subject of American Express’s financial review process. In order to have their accounts reinstated and to receive any pending rewards, it is imperative that cardholders succeed in satisfying American Express.
The first step to passing an American Express Financial Review is to take the procedure seriously. In some cases, cardholders are initially informed of this process by a poor quality call from an overseas representative. That person claims to be from American Express and asks cardholders to verify personal information. Understandably, cardholders are reluctant to divulge this information to unverified individuals. Nevertheless, cardholders should hang up, and call the number on the back of their card. When they reach American Express, they should ask for their Financial Review department.
Next, the American Express representative will ask the cardholder to release his or her income tax returns. To do so, they need the cardholders to fax back a completed copy of the IRS 4506-T form. They will accept this form via mail, but not over the Internet. Failing to properly complete and submit this form in timely fashion will result in all of the cardholder’s accounts being permanently closed, and all of their accumulated and pending rewards being forfeited. It is for this reason that cardholders should act immediately the moment they are informed that they are the subject of a Financial Review. American Express’s requirements are so strict, that cardholders may need to go to extraordinary measures to comply with them, even if they are currently away from home.
After the proper form has been faxed to American Express, it is important that the cardholder verifies that it has been received and that American Express is satisfied that it is complete. In the event that there is a problem, American Express has been known to fail to contact cardholders before permanently closing their accounts. Even after they have confirmed the receipt of their 4506-T form, cardholders should continue to follow up with American Express’s Financial Review department in order to assure that no further documentation is required.
When someone passes the Financial Review, the customer will be notified by American Express and he or she has had their charging privileges immediately restored. Co-operating with a Financial Review is not an easy or fun process, but immediate compliance so is vital to remaining an American Express customer in good standing.
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