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Frequent Contributor
Countingpennies
Posts: 465
Registered: ‎02-14-2013
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Re: American Express closed my girlfriends account

Debell, I think it's great that you are helping GF get it together financially. My family is/was like GF's. I'm a very bright person, but always thought of myself as a financial idiot. Somewhere along the way, I realized my behavior with money had a lot to do with how I was raised and I didn't have to handle money the way my parents did. It's taken me a lot of years to work through this, especially feeling like I must be a 'bad person' because I never learned how to manage money when I was young. Keep at it, you're a good influence. Just keep in mind, there will be forward progress, and a few steps back occasionally, and I know from experience, this does not make her a 'bad person.' She might need to be reminded of this from time to time.
New Member
debell
Posts: 7
Registered: ‎03-12-2013
0

Re: American Express closed my girlfriends account


Countingpennies wrote:
Debell, I think it's great that you are helping GF get it together financially. My family is/was like GF's. I'm a very bright person, but always thought of myself as a financial idiot. Somewhere along the way, I realized my behavior with money had a lot to do with how I was raised and I didn't have to handle money the way my parents did. It's taken me a lot of years to work through this, especially feeling like I must be a 'bad person' because I never learned how to manage money when I was young. Keep at it, you're a good influence. Just keep in mind, there will be forward progress, and a few steps back occasionally, and I know from experience, this does not make her a 'bad person.' She might need to be reminded of this from time to time.

Thank you for your kind words. I really appreciate it.

 

It's been a tough road. I say she's my GF but I hope to spend the rest of my life with her. She's a great person and her parents are great people too, but unfortunately when it comes to money they are a mess. Her dad has really changed his ways. I'm pretty close with her dad and have spent a lot of time talking to him about a lot of things relatedt o finances. I feel as though I have influenced him and while they're going through a bankruptcy, he is much more cautious with his money and saving quite a bit of it. They have had no need to borrow money of any type for several years now. 

 

Her mother is a bit of another story but that's not my problem. As for my girlfriend, I see so much progression in her over the past years. She has been given no guidance whatsoever throughout her life. She is now taking responsibility for all her actions and I genuinely see a difference in her. 

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: American Express closed my girlfriends account


debell wrote:

Wolf3 wrote:

I have been through the closing from lates on other accounts.    It was futile in my case, and since your GF has recent lates on student loans, I suspect the odds are slim, but probably worth trying.

 

If GF does not have any other major CC, she should work on getting at least 3.   You need a backup in case account get closed, card is stolen, or fraud which would make card unavailable for your use.   Of course, keep them secret from her family.   

 

.

 

 


 

I have been looking for some others cards that would work for her. Her FICO score is in the range of about 620-630 so it's not great. It's very difficult to find her a credit card with her credit history. I recently applied for the Capital One Platinum card with the $19 annual fee for her. What other cards would everyone recommend for someone with a score like hers?


If Capital One denies, then I suggest Capital One secured card. or other secured cards from major bank or CU.

New Member
debell
Posts: 7
Registered: ‎03-12-2013
0

Re: American Express closed my girlfriends account


Wolf3 wrote:

debell wrote:

Wolf3 wrote:

I have been through the closing from lates on other accounts.    It was futile in my case, and since your GF has recent lates on student loans, I suspect the odds are slim, but probably worth trying.

 

If GF does not have any other major CC, she should work on getting at least 3.   You need a backup in case account get closed, card is stolen, or fraud which would make card unavailable for your use.   Of course, keep them secret from her family.   

 

.

 

 


 

I have been looking for some others cards that would work for her. Her FICO score is in the range of about 620-630 so it's not great. It's very difficult to find her a credit card with her credit history. I recently applied for the Capital One Platinum card with the $19 annual fee for her. What other cards would everyone recommend for someone with a score like hers?


If Capital One denies, then I suggest Capital One secured card. or other secured cards from major bank or CU.


This will likely be the way she needs to go. Amex already refunded her annual fee that she paid last month. We sent in paperwork for appeal but I'm not hopeful. It's so disappointing and frustrating. Whenever things like this happen I get so angry and frustrated with her family. I feel that most of this is due to their complete disregard for her. My GF is responsible for much of this, but her mother and father have used and abused her credit for far to long.

Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012
0

Re: American Express closed my girlfriends account

Amex closed me down in 2008 after they SP'd me and saw late payments on my auto loan.

 

Oddly enough, that car was repo-ed before they closed the account all together AND sent to and reported as a paid-collection.

 

Fast forward to now, and that auto loan is still reporting as a repo, BUT - the amex collection/account TL have been removed and I now have a ZYNC (NPSL), Gold PRG, Delta Gold, Costco TE, and Hilton Honors card from them all within the last 8-9 months.

 

So there is some light at the end of her tunnel, at least with Amex.

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
0

Re: American Express closed my girlfriends account

[ Edited ]

Repo-ed wrote:

Amex closed me down in 2008 after they SP'd me and saw late payments on my auto loan.

 

Oddly enough, that car was repo-ed before they closed the account all together AND sent to and reported as a paid-collection.

 

Fast forward to now, and that auto loan is still reporting as a repo, BUT - the amex collection/account TL have been removed and I now have a ZYNC (NPSL), Gold PRG, Delta Gold, Costco TE, and Hilton Honors card from them all within the last 8-9 months.

 

So there is some light at the end of her tunnel, at least with Amex.


I have no proof of this, but from reading and dealings with those around me, I surmise Amex is more comfortable with a longer history.

 

For instance, for most of their cardmembers, they have detailed CRs (even if it isn't on your CR, they have it archived) dating back 20 or 30 years.  I know someone with an Amex from the late 80s, and they never closed his account during the financial crisis when other lenders started to panic.  During all of this, Amex never blinked an eye, and continued to let him charge away.  

 

It was the *only* reliable card he could use at the time.  My best guess is this person's history with Amex dates back 25 years with a CR that has experienced good and bad times.  He's carried high balance, had a medical and public library collection, and some debt issues, but never filed for BK protection, nor did he ever fail to pay a debt.  Though late, careless, and sometimes with the occassional 60 day late, he always honored his obligations in some way.  

 

Not sure if Amex takes that into consideration, but they seem to very panicky with "young" or people with a very "thin" file for a short amount of time with them.

 

I'm not a credit analyst, but a long history of being able to "weather" the occassional storm that pops up in life should be meaningful to a creditor.  You learn most about a person's or businesses's character, perseverance (that fighting spirit), and abilities during challenging times, and not during good times when there's always smooth sailing ahead.  In my view, most of the AAs and FRs is when they're afraid there's "funny" business or a "strategic" default underway.

 

PS - I'm sure other lenders to this too.  I know a person whose only card left alone during financial issues in 2008 was Chase.

Valued Member
chiyex
Posts: 30
Registered: ‎03-24-2012
0

Re: American Express closed my girlfriends account

amex is a really annoying company. i got the gold charge card from them and started out using 10 -12k for like 3 months and i always paid back in full. they still went ahead to cu my limit down to 3k. i complained and they said they do quarterly reviews and would restore my NPSL. after a yr it was only 500 they added. i got angry and closed the account. i was never late but they decided to do that.

Established Contributor
swpopham
Posts: 550
Registered: ‎06-02-2012
0

Re: American Express closed my girlfriends account

[ Edited ]

Open123 wrote:

Repo-ed wrote:

Amex closed me down in 2008 after they SP'd me and saw late payments on my auto loan.

 

Oddly enough, that car was repo-ed before they closed the account all together AND sent to and reported as a paid-collection.

 

Fast forward to now, and that auto loan is still reporting as a repo, BUT - the amex collection/account TL have been removed and I now have a ZYNC (NPSL), Gold PRG, Delta Gold, Costco TE, and Hilton Honors card from them all within the last 8-9 months.

 

So there is some light at the end of her tunnel, at least with Amex.


I have no proof of this, but from reading and dealings with those around me, I surmise Amex is more comfortable with a longer history.

 

For instance, for most of their cardmembers, they have detailed CRs (even if it isn't on your CR, they have it archived) dating back 20 or 30 years.  I know someone with an Amex from the late 80s, and they never closed his account during the financial crisis when other lenders started to panic.  During all of this, Amex never blinked an eye, and continued to let him charge away.  

 

It was the *only* reliable card he could use at the time.  My best guess is this person's history with Amex dates back 25 years with a CR that has experienced good and bad times.  He's carried high balance, had a medical and public library collection, and some debt issues, but never filed for BK protection, nor did he ever fail to pay a debt.  Though late, careless, and sometimes with the occassional 60 day late, he always honored his obligations in some way.  

 

Not sure if Amex takes that into consideration, but they seem to very panicky with "young" or people with a very "thin" file for a short amount of time with them.

 

I'm not a credit analyst, but a long history of being able to "weather" the occassional storm that pops up in life should be meaningful to a creditor.  You learn most about a person's or businesses's character, perseverance (that fighting spirit), and abilities during challenging times, and not during good times when there's always smooth sailing ahead.  In my view, most of the AAs and FRs is when they're afraid there's "funny" business or a "strategic" default underway.

 

PS - I'm sure other lenders to this too.  I know a person whose only card left alone during financial issues in 2008 was Chase.


Mine!! I cant get my post to show up!!!

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

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New Member
debell
Posts: 7
Registered: ‎03-12-2013
0

Re: American Express closed my girlfriends account

Well, Amex replied to her appeal and it looks like they're not budging from their position. They are claiming her FICO score has dropped among other things. Maybe this will be better for her for the time being.

Established Contributor
Chris123nTx
Posts: 500
Registered: ‎05-11-2007
0

Re: American Express closed my girlfriends account


debell wrote:

Well, Amex replied to her appeal and it looks like they're not budging from their position. They are claiming her FICO score has dropped among other things. Maybe this will be better for her for the time being.


 

Hate to say it, but this is probably a good thing. Until she can say no to her family she will continue to get screwed over. Even after all of the financial hit they gave her on the cards she ended up closing, she still gave them access to an amex charge card...soemthing that they could inflict much more damage over a shorter period of time. Other thing along those lines, do not make her an au on any of your cards. You will end up on the hook to her families debts. Hard stuff, but she has to 100% cut them off forevernif she wants to really help herself, and from wht you have said, she cant seem to do that. Good luck to you both. Tough spot to be in.

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