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Freakin' Amex

Super Contributor

Re: Freakin' Amex

Trust me Amex has elephent memory and never forgets. I know of cases where the remembered for last 25-30 year old balances. If you can afford the amount pay it off and get back into good graces with them. It is not worth fighting and wasting your time. Once you pay off the old amount, I am sure they will keep their end of the bargain. As I mentioned earlier, I paid off $11k+ and Amex kept their side of the bargain.
Message 11 of 14
Established Contributor

Re: Freakin' Amex

The problem concord is that they DID forget. They forgot when nyc called about this old account, and they forgot when a new card was applied for, approved and issued. Then all of a sudden they just "remember" that a particularly large amount of money is owed. That doesn't sound right to me. Personally I wouldn't pay them a red cent until:

 

1. I saw some proof this debt is mine

2. I saw proof the amount is correct &

3. I've reamed them out for lying to me about there being a balance owed in the first place

Message 12 of 14
Super Contributor

Re: Freakin' Amex


KingAdrock wrote:

The problem concord is that they DID forget. They forgot when nyc called about this old account, and they forgot when a new card was applied for, approved and issued. Then all of a sudden they just "remember" that a particularly large amount of money is owed. That doesn't sound right to me. Personally I wouldn't pay them a red cent until:

 

1. I saw some proof this debt is mine

2. I saw proof the amount is correct &

3. I've reamed them out for lying to me about there being a balance owed in the first place


I agree with you in principle, there is nothing wrong in doing DV. On the other hand, OP should know if they ever had Amex Card that went bad or not. If OP had a card that went bad, then issue is the balance which they can discuss with Amex. As you know all the card companies do charge interest and late fees that adds up onto account.

Message 13 of 14
Valued Contributor

Re: Freakin' Amex

Hey my issue is not the balance or even paying it in full in the next 90 days. I just want to make sure I come out of this a) w./o neg Amex and b) with SOME Amex card which dates to 1986.  That way I won't get credit slammed and will retain my age (I am guessing even better if they keep the cards closed but give me Optima as I will then have two closed 25 year old accounts and 1 'new' (Member Since) 25 year old account)

 

My goal now is to make sure all the work I did to get credit great is not for naught, and I keep my age/score w no dergos.  My biz credit is contingent upon that. So far I have no 'word' they will reinstate or give me optima card, just that in the 90-day window I can ask for reinstatement.

 

So plan is to make payments on 'existing' cards in the next two months and hten get most/all of the old card paid off AND the Bally's removed with a 'Mea Culpa' from Experian to Amex (lawyer said he could do stipulate that).  Then at least I'll be in good shape score wise still.

MyFico Scores (TU/Exp/Efx):

11/02/08 696 / 695/ 737- 5/4/08: 667 / 703 / 668 - 11/07 Low 500s All (Fako)
Message 14 of 14