Better Approval Chances With Amex If I Put down 30-100k Into Amex Bank...?

[youngandcreditwrthy]

I'd app then see what's up. You may not need to pay. There have also been reports of folks in your situation getting approved with a $2-3k limit then being denied clis incessantly due to past bad Amex debts.
Good luck! You will need it 😁

[Elcid89]

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@Andy77 wrote:

The debt is stil in their computer system.  I can call and get the amount.  They have told me I should pay it before applying for a card, but I am not obligated to do so.

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This is a roundabout way of saying "We can't force to repay your old debt with us. but if you ever want another card from us, you'll have to make arrangements with us to get it repaid, and fulfill them, before we'll give you another card."

[myjourney]

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@Elcid89 wrote:

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@Andy77 wrote:

The debt is stil in their computer system.  I can call and get the amount.  They have told me I should pay it before applying for a card, but I am not obligated to do so.

---

This is a roundabout way of saying "We can't force to repay your old debt with us. but if you ever want another card from us, you'll have to make arrangements with us to get it repaid, and fulfill them, before we'll give you another card."

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Said the nice and professional way

[Elcid89]

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@myjourney wrote:

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@Elcid89 wrote:

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@Andy77 wrote:

The debt is stil in their computer system.  I can call and get the amount.  They have told me I should pay it before applying for a card, but I am not obligated to do so.

---

This is a roundabout way of saying "We can't force to repay your old debt with us. but if you ever want another card from us, you'll have to make arrangements with us to get it repaid, and fulfill them, before we'll give you another card."

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Said the nice and professional way

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Yup. They are constrained by the bankruptcy laws, and follow them. They can't demand payment, but they can mandate repayment as a condition of new business with them as long as you initiated the request.

They have probably the longest memory around. They never forget ...

[sjt]

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@Andy77 wrote:

I thought I had read that if you deposit 10k or 20k with Amex in their Savings account they will give you a card?   I was thinking about depositing 30k with them, but I have a 5 yr old BK and I owe them like 1600 from 14 yrs ago

I would pay all outstanding balances with them and have zero debt

Do you think I might be able to get a card.  I would have as much as 100k to deposit with them if I had to.

I want to re-establish my relationship with them thats why I am asking what my approval chances are if I were to do this

Thank you!

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Amex is not really BK friendly, although there have been people who obtained the card with a BK showing on their report. You also have a balance owing to them and that is another factor.

Deposits in their bank are really not taken into consideration. There have been cases where someone would apply for a charge card product and they would be countered offer with a secured card, but that seems to be a pilot program.

[Andy77]

How I see it is....they have the memory of the lifetime so I KNOW if I want any chance at another card with them, I have to pay the 1600 bucks, no way around it.

I just wish that I know if I deposited a large chunk it would help me out to get approved....but oh well

[Elcid89]

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@Andy77 wrote:

How I see it is....they have the memory of the lifetime so I KNOW if I want any chance at another card with them, I have to pay the 1600 bucks, no way around it.

I just wish that I know if I deposited a large chunk it would help me out to get approved....but oh well

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If you are determined to get another product with them, make arrangements to repay the $1,600. Let it clear, and then apply.

If they still turn you down, you can subsequently broach the subject re: establishing a banking relationship with them, and gauge their response, before you go any further. Best adice I can give.