Credit Card Center Advertiser Disclosure†
10-26-2012 09:21 AM
I am looking for your informed advice.
I have an American Express card since 1993.
I have Never ever been late with payments.
3 months ago, because of my high student debt from law school,
Am. Ex. removed my "pay by time" privileges.
That required me to pay the balance in full for the next month.
I accidently paid the previous balance in full and was unable to pay the upcoming NEW balance in full which was $13,000 for a small business I started.
So, for 90 days, I made nominal payments.
Finally, 20 days ago, upon my return from overseas class,
I see a letter were they closed my account.
I was able to get a loan of $13,000 (balance in full) from a family member and I tired speaking to American Express today
to pay in full and ask them to REOPEN my account but they will not speak with me. They want me to speak directly with the collection agency.
I had 168,000 points on my account.
Does anyone know with whom I make speak with at Am. Ex. to pay balance in full and to restore my same credit card and 168,000 points?
10-26-2012 09:27 AM
most companies rarely reopen accounts,but not sure about amex good luck though, but always remember Amex shows it's roots from a CHARGE card company even in their revolver lines. They do NOT like money carried over month to month over 3 months =\
10-26-2012 09:31 AM - edited 10-26-2012 09:34 AM
First, terrible idea to put business spending on personal card. AMEX frowns on that. Usually AMEX will hit you with FR right after that.
To your question, AMEX rarely reopen account. I'm pretty sure MR points are lost the moment you did something bad (like not pay in full). Be advised AMEX will charge $25 should they decide to reopen your account.
At this point, it sounds like the debt is already on the hands of collection agency. Which means legally AMEX is no longer the debt holder but collection agency is. You will have to pay the collection agency. Preferably asking them for pay for deletion and sending a notice to AMEX acknowledge the debt is paid. From there AMEX may or may not let you in again.
10-26-2012 09:35 AM
You said they removed your "pay over time" privileges, but you still decided to not pay it off in full by the due date. I do not think it is any surprise that they closed the account since it was late, even if you were making payments. They most likely will not open the account and if an account is closed in bad standind, which yours was, the rewards are forfeited.
10-26-2012 09:46 AM - edited 10-26-2012 09:47 AM
You could try speaking to collections and pay it in full. They may reopen it for you afterwards but I think you have to do it within 30 days of it closing if I'm not mistaken. When my Amex Blue was closed I believe it was in 08 they did offer to reopen but it had to be paid back in full and within 30 days of closing.
If it is passed 30 days then I think you are screwed. However, if you pay them back and can get back in in the future you should get backdated to 93! As long as they don't change their policy on backdating either if ever.
Hope this helps.
10-26-2012 09:55 AM
In the three years I have followed these boards, I have yet to see Amex reopen an account. Amex is very fast about "writing off" accounts that do not pay vs. other companies who you can call and arrange payments. If they won't talk to you, I think your MR points are gone for good.
10-26-2012 10:43 AM - edited 10-26-2012 10:44 AM
Amex Exec line number PMed to you. Ask for Executive Customer Service. No promises, but if anyone will listen and have the ability to do something, they will.
10-26-2012 11:00 PM
THANK YOU TO ALL OF YOU!
Wow... things appear to have worked out somehow...
I called the Responsible Landing Action Department.
Spoke to the nicest lady.
Advised me that I have 24 MONTHS to keep points but only after my account is in good standing.
Was not able in her department to accept payment.
I tried to pay online as I successfully did ($687.62) 10 days ago.
This time, the online would not accept my payment.
FORTUNATELY, I was able to have an agent on the phone from Membership Rewards Depart accept my payment IN FULL without having to
go through the outside credit agency.
After my payment posts (Tuesday or Wednesday) I can call back to redeem points and reapply for a new card (Green Card).
So overall, things worked out well IT APPEARS.
It's not over until it's over.
Albeit, I am amazed all each of your responses.... thank you for your HELP!
10-27-2012 01:08 AM
Finally some good news
10-27-2012 02:00 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.