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Not able to pay AMEX

Frequent Contributor

Re: Not able to pay AMEX

Sorry to hear about your situation.  I'd think if AmEx themselves were able to give you that offer, then I'd be thankful and pay your balance off either within or before that timeframe so that you remain in their good graces.  It's easy to get carried away with "buying whatever you want" with the credit cards.  So I can understand how easily you guys allowed that to happen.  When I think about wanting to "buy anything", I try to remember how long it took me to get here to this point (getting the cards--AmEx, Discover, Barclays) so I spend no more than I can reasonably and very comfortably pay out of my paycheck so I never have to carry a balance.  I budget my paycheck down to the penny.  Hope everything works out for you.

Message 11 of 21
Valued Contributor

Re: Not able to pay AMEX

FWIW, I only recently started to stop treating my CLs like additional income.  I used to just buy things because "well I've got lots of space on my CC, I can pay it off in a couple of months".  Bad habits like that will always catch up with you if you  keep them up long enough.

 

Now I only use my CC for purchases I could make with cash, unless it's an emergency.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 12 of 21
Regular Contributor

Re: Not able to pay AMEX

People seem to get a little paranoid with AMEX. It's gonna be a minor blip on the radar. They extended a courtesy for a loyal customer. It'll get paid off in a couple months. If anything it's going to look a whole lot less suspicious than balance transferring off their charge card.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico
Message 13 of 21
Valued Member

Re: Not able to pay AMEX

myfico.com needs an app for the iPhone/Android- we never spent more than we had, we don't have debit cards and never carry cash- only used AMEX.
Message 14 of 21
Frequent Contributor

Re: Not able to pay AMEX


Balbanes wrote:

People seem to get a little paranoid with AMEX.


You'd not say that after you go through AMEX financial review.

What's in your wallet?
-Not Capital One.
Message 15 of 21
Valued Contributor

Re: Not able to pay AMEX

Paranoia or not, I think it's worth it to be careful with AMEX.  You don't hear about any other CCCs with random declines or FRs.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 16 of 21
Senior Contributor

Re: Not able to pay AMEX


Balbanes wrote:

People seem to get a little paranoid with AMEX. It's gonna be a minor blip on the radar. They extended a courtesy for a loyal customer. It'll get paid off in a couple months. If anything it's going to look a whole lot less suspicious than balance transferring off their charge card.


Minor blip, or not depends on the rest of OP's financial profile. They are almost guaranteed to do a soft pull.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 17 of 21
Frequent Contributor

Re: Not able to pay AMEX

I was gonna say that as well... No long term savings? You should always have a savings that you never touch for situations like this.

I think maybe your best bet is it you have any money saved up, why don't you get a shared secure loan from a CU and you can pay it back at usually around a 3% interest rate as slow or fast as you wish within 6-12 months term. That's always a very good option, borrowing money for a collateral of money, you can never go wrong. Good luck.
 
Message 18 of 21
Regular Contributor

Re: Not able to pay AMEX


tengtengvn wrote:

Balbanes wrote:

People seem to get a little paranoid with AMEX.


You'd not say that after you go through AMEX financial review.



Totally not worried about an AMEX fr. I've been through the homebuying process. I've financed a car with subprime credit. Let them do their worst.

 

OP resolved the issue with AMEX satisfactorily for both parties. He could have been FR or softpulled or what have you if he balance transferred. As I understand it you could get FR from buying a pack of gum. It's all speculation.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico
Message 19 of 21
Frequent Contributor

Re: Not able to pay AMEX


Balbanes wrote:

tengtengvn wrote:

Balbanes wrote:

People seem to get a little paranoid with AMEX.


You'd not say that after you go through AMEX financial review.



Totally not worried about an AMEX fr. I've been through the homebuying process. I've financed a car with subprime credit. Let them do their worst.

 

OP resolved the issue with AMEX satisfactorily for both parties. He could have been FR or softpulled or what have you if he balance transferred. As I understand it you could get FR from buying a pack of gum. It's all speculation.



Was said pack of gum purchased at a "discount" store, in Vegas, at 3:57AM, on a Tuesday; after showing your card to a BlackJack dealer at a casino, after you updated your social networking site info to say you were suddenly unemployed? 

TU98 751, EQ 766, EX 766 (Lender)

If at first you don't succeed; Garden for 6 months, then try again.

Work the system. Don't let the system work you.
Message 20 of 21