Amex Hopeful

[Anonymous]

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@SpaceInvader wrote:

@Anonymous, right when all the banks start repaying my tax dollars back then we can talk. Please, banks are not Saints.

My point was simple that the OP has legally gone through the process of paying for his/her mistake. This practice is not right that creditors require you to pay-back to get back in with them even after you have gone through the bk and had it on your file for 10 years.

Didn't know Amex had so many lobbyists over here, but it won't change my mind: Amex is not getting my business. They didn't before and they won't now. I did have an employer that had Amex, I chose not to because it wasn't listed in my employment contract. There are options.

You paid Verizon back by your own choice; Amex requires you to pay back before even reconsidering you. THAT is what is wrong...

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I would advise you to educate yourself on the matter.

Banks have pretty much completely repaid TARP funds, with interest.

http://www.treasury.gov/initiatives/financial-stability/reports/Pages/TARP-Tracker.aspx

And it's this kind of attitude torwards debt by consumers that was one of the mitgating factors in the subprime mortgage crisis.

[SpaceInvader]

LOL - thanks for playing. There is a lot more then TARP. But anyways, you failed to understand my point so the argument is moot. The OP has made his/her decision and my job was to give him my perspective. Job done.

[sjt]

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@Anonymous wrote:

Heres an update , my employer has a co-branded Amex and offers a employee application which says offers "special" consideration for employees. I was curious and decided to apply via the link on my employer site has and was almost instantly given the 7-10 day response. When I went to check the status the only reason given was declined because Amex closed my previous account. I think I'm going to have to take the $1100 hit if I ever want another Amex. Hate having another HP on my score but glad I know. I'm only 3 months away from reaching 0% utilization on all cards I currently have so maybe then I'll start chipping away at that so by the time my Bk falls off I may be able to get approved or can try to recon at least. I don't think recon would do any good now.

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I think AMex only did a SP on your recent application. What type of cobranded card did they offer?

[SunriseEarth]

As a general reminder, the Forums are a great place to express a wide variety of opinions.   Opinions on what credit decisions are "worth it" are often largely a matter or perspective and preference.   I personally see merit in both sides of the discussion about paying on a debt resolved through BK in order to get back with a lender.  I respect both sides of this argument and appreciate the discussion, so long as it remains respectful and courteous.   

As for the OP, he requested input on how to get back into AMEX as opposed to a discussion of the merits of his decision.   AFAIK, AMEX seems to have a long memory, so OP would likely have to resolve the prior balance to do this.   OP, you may want to use one of the backdoor phone number options to explore your options.   Perhaps you could do the Optima program.

[Anonymous]

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@SpaceInvader wrote:

LOL - thanks for playing. There is a lot more then TARP. But anyways, you failed to understand my point so the argument is moot. The OP has made his/her decision and my job was to give him my perspective. Job done.

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According to this site at least (https://projects.propublica.org/bailout/entities/15-american-express), American Express at least has completely paid back its taxpayer money.

And what point am I failing to understand?

If I lend someone money, and then they declare bankruptcy, then fine, they don't legally owe me anything anymore. However, I'm probably never going to do business with them again. It's the same idea for a major corporation, OP doesn't have to pay back his debt to Amex anymore, and likewise they don't have any obligation to do business with OP in the future. And I think it's completely reasonable for Amex to demand the payback of OP's prior debt to consider doing business again with him again. If he/she doesn't want to, then fine, but he/she shouldn't feel obligated that Amex should do business with him/her again when he/she technically still owes Amex money.

[wmweeza]

I think your opinion may be clouded by your recently declined application for an AMEX.

OP; I echo the suggestion to offer to pay your debt. Best of luck to you!

[Anonymous]

It looks like it was a SP as I haven't gotten any updates from credit karma or Capital one as of yet. I don't want to list my employer but I'll just say it's one of the most popular co branded cards and I've read one of the easiest to get. Thanks everyone for the input hoping to pay it off once all my other cards are PIF then going to wait till my BK falls off in March 2016 and will report back.