Credit Cards

[Lawlover2]

I received the Oasis card and paid faithfully, in full, on time, each month for over a year.  They cancelled my card and when I asked why - it was a dip in my credit scores.  My scores are low (mid 500's to 600), but have been climbing the past year.  Is there any chance of getting this back?  Does anyone have any suggestions?  When I called, the nice guy I spoke to put me through to a sales person who wanted me to apply for the Amex Green card . . . no thanks!  I hope someone knows what I can do to get this back!

Thanks!

[SmartCookie]

This has me feeling very ill.... that's ridiculous!  The card is 'guaranteed' and you did not default on it... and you paid an annual fee for it.

I'd be going ape poo on their arses.... get a supervisor, write a letter, complain at PFB.... this is not at all good unless they want their program to look like a scam.  

[Creditaddict]

What's Oasis???

[Lawlover2]

It is the card they give you if you pay back a previous balance.  I believe it is equivilant to 1/2 of your balance.  Generally you hear of people getting this when they pay their balance after delinquency.  I had an Amex that I eventually paid off and this is a "reward" for doing that - my balance was $1,400, approximatley, and so I had a $700 unsecured credit card with them.  I paid an annual fee I believe(didn't even have it a year!) and they gave me the card.  But then of course, they took it away!

[Creditaddict]

well as much as I would LOVE my amex back... I'm not paying them back the 8k I owe them from 6 years ago.

[opsrex]

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Creditaddict wrote:

well as much as I would LOVE my amex back... I'm not paying them back the 8k I owe them from 6 years ago.

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Why? If you owe the money, why won't you pay it? If someone owed you money wouldn't you want to be paid? I do not understand people on this board who freely admit that they owe money but refuse to pay it back or even try to negotiate a settlement. I think that these are the people that are always going to be credit challenged. They have never learned to take responsibility for their actions and just try to ride out the seven years to get the next credit card they can run up and default on.

[stpn2me]

Easy opsrex......

Creditaddict...opsrex does have a point. Although, by being on this board, I have heard it could actually hurt you if you pay off old debts, as it restarts the timeline on it being reported.

opsrex, lets not judge people's intentions. Maybe they want to get right, but they know paying the bill would hurt rather than help. No need to take pain when you dont have to.

Anyone else have anything to add?

Message Edited by stpn2me on 11-02-2007 10:36 PM

[Robo]

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Lawlover2 wrote:

I received the Oasis card and paid faithfully, in full, on time, each month for over a year.  They cancelled my card and when I asked why - it was a dip in my credit scores.  My scores are low (mid 500's to 600), but have been climbing the past year.  Is there any chance of getting this back?  Does anyone have any suggestions?  When I called, the nice guy I spoke to put me through to a sales person who wanted me to apply for the Amex Green card . . . no thanks!  I hope someone knows what I can do to get this back!

Thanks!

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Hello,

I wont deny that what AMEX did was wrong but there honestly has to be something more then a "dip" in your scores.

I see that you said your scores range from mid 500's to 600 and have been steadily increasing over the past year, but be that as it may, what exactly are we talking about with the "dip" ?  I have seen numerous posts about how the Oasis Card has been issued to old AMEX customers who defaulted or what not so i dont see why they would give you a card only to take it away.  Maybe the "dip" was more severe then you think and it scared them. 

I would call and do a recon on this.  I know you already called, but call again.  Forget talking to a "sales person", get ahold of a supervisor.  See what is happening here.

Robo

P.S  Everyone is entitled to their own opinions but please keep the post clean, otherwise Brammy/Fused are going to have to do Mod things.

[fused]

Noah, where are you??? He might have some insights on this!

[Brammy]

Amex offers the Oasis program to get back into ther good graces.  Otherwise, yo will never have an Amex card again.  They are notorious blacklisters.  Like other creditors they can close your account, decrease you limit etc.., if there is a change in your bureau scores that they don't like.  The good news is that once the OP gets the scores back up, they can reapply for a new Amex card without worrying about being on Amex's blacklist.

OP if you were late with other creditors, causing the dip, this is probably the reason Amex cut you off. Their version of UD.