Has anyone involved in this action received their pre-approved credit/charge card offer from American Express?
Background:
Based on the CFPB, those that were promised the ability to receive a new card by paying off their debt (or their debt would be forgiven) and then denied the card because of the “bad debt” they “had” with American Express would be receiving “a pre-approved offer for a new card with terms the CFPB and FDIC find acceptable”. Has anyone involved in this action received their pre-approved offer from American Express?
I just received the refund check from American Express about a week ago based on the above, but the invoice for it was extremely generic. It just said “credit balance” with no other details. I wasn’t even sure why I was receiving a check from American Express until I checked Google and came across the above website.
Current Score: Eq: 823 Tu: 830
It may be shady, but I think thats a clever whay to get their money back you did burn them. 
Maybe your file didn't meet their criteria.
@LS2982 wrote:It may be shady, but I think thats a clever whay to get their money back you did burn them.
Maybe your file didn't meet their criteria.
Ah, yes, clever they were, but this is what got them in trouble. They were telling us that we would be approved for another American Express card if we paid the debt back and that it would also be changed on credit reports to show this "good" deed. Now of course, I am not disputing that the right thing was to pay AMEX they money they lost, but the tatics they were using to collect were false. It certainly seems like they collected from quite a few people in this way. So, as part of the action against them, they were ordered to refund people the money they collected based off of the promise of a new card. They are also being required to send folks a pre-approved card offer. Of course this part was very vague so I was trying to see if anyone that received a refund check from AMEX under this title had received their pre-approved card offer.
@LS2982 wrote:It may be shady, but I think thats a clever whay to get their money back you did burn them.
Agreed. I find it incredibly silly that the governement is forcing them to give people cards that didn't handle them the right way before. Especially if that person's credit is terrible and they are still forced to send them an offer. I see nothing wrong with them getting their money back by telling people they could be approved if they paid the balance. I just don't get why you would cause a credit card company to lose money and then go back and ask for a credit card from them again. This is another instance of the government meddling when it is none of their business.
@navigatethis12 wrote:
@LS2982 wrote:It may be shady, but I think thats a clever whay to get their money back you did burn them.
Agreed. I find it incredibly silly that the governement is forcing them to give people cards that didn't handle them the right way before. Especially if that person's credit is terrible and they are still forced to send them an offer. I see nothing wrong with them getting their money back by telling people they could be approved if they paid the balance. I just don't get why you would cause a credit card company to lose money and then go back and ask for a credit card from them again. This is another instance of the government meddling when it is none of their business.
I provided the link above in an effort to try not to get into conversations like this. The link provides details that AMEX was not LEGALLY entitled to receive the funds back. Morally yes, it's the right thing to do to pay them back, but legally they had no recourse to collect those funds. The company was misleading folks with blatant lies in an effort to collect money from them that they were no longer legally entitled to. They played on the promise of "cleaning up" a person's credit along with the promise of the said individual to be able to re-establish a relationship with AMEX when they knew that would not happen. Being clever does not mean you are permitted to break the law and that is why these CFPB and FDIC stepped in. As part of the restitution, AMEX was ordered to pay people back the money they had unlawfully collected and provide a pre-approved charge/credit card to those involved. My question was has anyone received this offer from AMEX. Most have received the financial restitution, but I was not able to find any additional information regarding the requirement for the pre-approved charge/credit card.