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Valued Member
book1773
Posts: 58
Registered: ‎06-26-2011
0

Amex Question

 

Will amex decline if you have 1 state and 1 federal tax lien from 2002? Tax lien is from 10 years ago.

I heard there green card seems like the easiest to get.

Regular Contributor
creditballer
Posts: 159
Registered: ‎08-28-2007
0

Re: Amex Question

if the tax lien is unpaid, prob not. Amex is a challenging card to get - they most often want clean reports. I'm doing a recon right now for the Gold Charge card...which the charge cards are said to be "easier" since they must be paid in full....if not unpaid, i would pay them first, before trying...best wishes


Last App Oct 2013...applied and received Amex PRG and Blue Sky!
FICO -Walmart = 779
Credit Karma = 781
EX-766, EQ 772, TU-759
Goal: 800
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex Question

[ Edited ]

book1773 wrote:

 

Will amex decline if you have 1 state and 1 federal tax lien from 2002? Tax lien is from 10 years ago.

I heard there green card seems like the easiest to get.


Hard to say. #1, are they paid? #2, what's your FICO (not FAKO)? #3, any other baddies? a BK? #4, how long is your credit history/AAoA? #5, what's your util? #6, how many inq do you have?

 

Yes, their charges are easier to qualify for than their revolvers. But that doesn't make them easy.

 

Amex likes to see at least a year, preferrably longer, in credit history. Usually over 700 FICO, but charges can be a little lower. They are not BK friendly at all. They also don't like to see a lot of inq or high util. Util under 10% is ideal, maybe 20% max.

 

I would think that if your liens are paid and the rest of your CR is in good shape, with FICO over 700, you're probably okay. But especially w/tax liens, you'll need to have a VERY good CR. Passable probably won't do with those on your CR.

 

edit: typo

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Member
book1773
Posts: 58
Registered: ‎06-26-2011
0

Re: Amex Question

Thanks for the feedback. I am doing some credit repair right now. 

I setup an account with DFCU,USAA,Penfed 

 

I just checked my experian credit scrore plus and it is telling me I have

a 726 score. I have about 13 years of credit history mostly closed accounts

that were paid satisfactorly. I have 1 charge off from 2007 and 2 midland funding

accounts that I am trying to get knocked off. Experian is not showing anything in collections.

 

I also have the 1 state tax lien and 1 federal from 2002. 

 

Now with all that said experian is stating I have a 726 score. I would like

to get some positive trade accounts on my file. What credit cards would you

go for with what I have on my file. If anyone out there is willing to shed some light

that would be great. 

Valued Member
book1773
Posts: 58
Registered: ‎06-26-2011
0

Re: Amex Question

[ Edited ]

 

Tax liens are still open I am working with them to resolve the issue

and get them removed. But it seems like it is not affecting my score that much,

My equifax score is showing 688 from equifax.com

 

I have only 4 inquires in the past 2 years.

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex Question


book1773 wrote:

Thanks for the feedback. I am doing some credit repair right now. 

I setup an account with DFCU,USAA,Penfed 

 

I just checked my experian credit scrore plus and it is telling me I have

a 726 score. I have about 13 years of credit history mostly closed accounts

that were paid satisfactorly. I have 1 charge off from 2007 and 2 midland funding

accounts that I am trying to get knocked off. Experian is not showing anything in collections.

 

I also have the 1 state tax lien and 1 federal from 2002. 

 

Now with all that said experian is stating I have a 726 score. I would like

to get some positive trade accounts on my file. What credit cards would you

go for with what I have on my file. If anyone out there is willing to shed some light

that would be great. 


The score you have is a FAKO, not a true FICO. Lenders don't use FAKOs. Those are scores that the CRAs have developed to sell to consumers, even though they are virtually useless. There can be a huge difference between your FAKO and your FICO. Not always, but often.

 

Not sure which CU DFCU is. Give them a call and feel them out for getting a CC. USAA is not likely w/a CO and 2 CAs. Your best bet is really to wait on new credit until you get the baddies off your CR. It's going to be difficult to get any decent CC w/that on your CR.

 

Post on the rebuilder's section for advice about writing goodwill letters for the CO and Midland. Then GW and see what you can get off.

 

Here's an excerpt from Experian's website re tax liens:

 

Unpaid tax liens can remain for 15 years. Your second source is right that paid tax liens will remain for seven years from the paid date, even though it may mean the item remains for longer than 15 years total

 

At this point, it seems like your best bet is to wait another 5 yrs for them to drop off. If you can get the CO and CAs off, you'll be in better shape to get a CC w/a CU, to start re-establishing positive credit history. Unfortunately, other than that, you have to wait out the tax liens. Unless you can GW them. I don't know... might post that in the rebuilder's thread, too. (assuming they're paid - though they may PFD, not sure.)

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex Question


book1773 wrote:

 

Tax liens are still open I am working with them to resolve the issue

and get them removed. But it seems like it is not affecting my score that much,

My equifax score is showing 688 from equifax.com

 

I have only 4 inquires in the past 2 years.


Definitely post in the rebuilder's thread. They can give you advice on what to do re the tax lien and also to goodwill the baddies.

 

Also, when you get your score from EQ, see if they call it FICO or just score. You can only get your EQ FICO here and from EQ, but EQ also sells their own version (so they don't have to pay FICO). If you see the FICO logo, then you know you're getting FICO.

 

TU FICO is only available here and from Walmart, when you have a CC w/them.

 

EX FICO is no longer avail for sale to consumers. If you live in PA, you can join PSECU and get your EX FICO from them. Other than that, you would need a lender to pull your EX FICO, which is a HP.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Member
book1773
Posts: 58
Registered: ‎06-26-2011
0

Re: Amex Question

 

 

Thanks for the feedback. I contacted the state of california FTB and also the irs and they

stated once things are settled with them the items can be removed from the CRA based on

federal and state guidelines. 

 

Now with that being said hopefully soon I will have that taken care of however with all this

on my file I have noticed other members of Myfico getting approved for some prime cards

with baddies on there report and from what I am seeing experian is not even showin the accounts

from midland and this other charge off and a collection.

 

I will check with the rebuilder thread for more information. 

Member
tcburks3
Posts: 6
Registered: ‎11-26-2012
0

Re: Amex Question

Are your federal liens paid?  If so do you have them showing on your report as being released?  If you have paid them you may also apply to the IRS to have those liens waived and completely removed from the public record as well as your credit report.  I have just completed that process and my waiver request was approved.  You can call the IRS or go to their website and search lien waiver then download the applicatoin.  It does take time but it can be done as long as you are current with all taxes.


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