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Amex will not approve any card with bankruptcy?

New Visitor

Amex will not approve any card with bankruptcy?

Hi guys, 

 

I filed for bankruptcy in 2009, since then I have a had a perfect record. I have a a few cards with decent credit lines I really wanted a Amex card. I did not get approved for the blue cash and tried for the green card and it was denied too. I called up and it was forwarded to their review dept. 

 

that's the only reason I was denied is bankruptcy. I asked to talk to the underwriters but they claim they don't talk to people like other companies. I got my Discover IT card like that. My scores are 660s. 

 

Am I just going to have to wait. Few more years? Chase said they would approve me after a few months seeing my activity with my current cards. 

 

Thanks for for any reply!

Wells Fargo 3500$, Discover IT 800$, Barclays Rewards 5500$,, Lowes 3000$
Message 1 of 10
9 REPLIES
Valued Contributor

Re: Amex will not approve any card with bankruptcy?

To my knowledge, Amex and Citi are the two that are pretty much a zero chance with a BK showing on your CR...
BK Discharge 2/11/14

Currently in the garden.
Message 2 of 10
New Visitor

Re: Amex will not approve any card with bankruptcy?

Yea I already know that with CITI, funny thing is how in 2008 when they both took gov bailout money it was ok. That's the same thing as a personally backruptcy. They took a chance and helped them out of being destroyed. I kind of thought that after that it would more likely to not be this hard since they know you can get into a jam. 

 

But I guess I have to wait until the bankruptcy is off my record Smiley Sad

Wells Fargo 3500$, Discover IT 800$, Barclays Rewards 5500$,, Lowes 3000$
Message 3 of 10
Established Contributor

Re: Amex will not approve any card with bankruptcy?


Canon5DMKII wrote:

Yea I already know that with CITI, funny thing is how in 2008 when they both took gov bailout money it was ok. That's the same thing as a personally backruptcy. They took a chance and helped them out of being destroyed. I kind of thought that after that it would more likely to not be this hard since they know you can get into a jam. 

 

But I guess I have to wait until the bankruptcy is off my record Smiley Sad


Amex did take almost 4 billion in TARP money. However the reason was because they were facing a nearly 12 billion default by CARDHOLDERS who were not able to pay there charges. So Amex and Citi are by denying people who have had past bankruptcies, and by default have shown that there not able to pay back debt in the past are making a very sound financial decision. It's business not personal.

Fico 8 11/8/16
Equifax 836, TransUnion 836 12/30/16 , Experian 842 1/11/17 . AAOA 12 years Oldest 20
No inquires since 2014
All credit reports frozen
Fico 8 Equifax Bankcard 866 12/27/16
Message 4 of 10
Super Contributor

Re: Amex will not approve any card with bankruptcy?

 

There have been a few instances where people with BKs reporting have been approved by AMEX, however they were all situations where the BKs were within 1~2 years of aging off.   

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 5 of 10
Regular Contributor

Re: Amex will not approve any card with bankruptcy?

Also, did you burn amex in the bankruptcy?



$1250                $4000              $15,000            $11,000         $1000(secured)      CLOSED!                  $5000        2.65%:
Starting Score: 0 (03/01/13) &Current Score: TU FICO 791 CK755 CS747 QZ747 &Goal Score: 750 new goal:800 garden since 03/21/14
Message 6 of 10
New Visitor

Re: Amex will not approve any card with bankruptcy?

Hi Guys,

 

Thanks for the info, no I have never had either a Citi card or a Amex card. 

Wells Fargo 3500$, Discover IT 800$, Barclays Rewards 5500$,, Lowes 3000$
Message 7 of 10
Established Member

Re: Amex will not approve any card with bankruptcy?

Yes, I am year 8 of my BK and got back into Amex platinum last Saturday. Oh, I did burn Amex for 4k back in 2006.  When I last tried in the late summer of 2013 I had called in and was told if I paid my 4k I *might* be approved.  However, I did not follow up on that payoff.  Not only am I surpised I was approved but I was backed dated to 1996.  I am thinking they messed up but I am not looking a gift horse in the mouth ;-)

Message 8 of 10
Established Contributor

Re: Amex will not approve any card with bankruptcy?


Tricky3 wrote:

Yes, I am year 8 of my BK and got back into Amex platinum last Saturday. Oh, I did burn Amex for 4k back in 2006.  When I last tried in the late summer of 2013 I had called in and was told if I paid my 4k I *might* be approved.  However, I did not follow up on that payoff.  Not only am I surpised I was approved but I was backed dated to 1996.  I am thinking they messed up but I am not looking a gift horse in the mouth ;-)


The consensus seems to be split that you can get an Amex at either: 7 years, 1 month post discharge, or 7.5 years post filing.  The AMEX computer systems don't factor in bankruptcies after that date, but we haven't pin pointed the specific date yet.

 

The thing I'm really suprised about is that you burned them and still got back in.  Are you sure you burned Centurion bank (AMEX) or did you possibly wipe out a card from a different bank that just happend to have the Amex logo on it (like USAA Amex, or Travelocity Amex)?

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 9 of 10
Established Member

Re: Amex will not approve any card with bankruptcy?

I'm sure it was a real Amex card - It was a Gold Rewards (Cisco) card and my BK was June 2006 - so the 7.5 after discharge holds true on that but I did burn them for 4,168.58.  I have the phone call record from last summer and my letter that I wrote up about my account (after talking to Amex about it).

 

Edit:

Oh, after I got approved and my card arrived I called in to get the new Chip/Sign card.  When the Amex guy came on he started out with, "Thank you Mr. BahBah for being a long time member" (or something like that).  I asked when does it show my membership starting and he said since "1996".   I almost did not want to ask if my new card could show '1996" but I did.  I was told that would not be a problem at all when my new chip/sign card is sent.  I still have to call in to them in a few days, since they cannot send a new card until its been 10 days for the first card.

Message 10 of 10