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Decades ago I had a green AMEX. Then I got into some SERIOUS trouble and the AMEX along with all my other cards were charged off. Since then, and every few years, I will get a letter from "someone" asking me to pay a reduced amount and clear it up. I usually ignore it since I am well past the time that it will show up on my CR and past the statute of limitations to be sued for the debt. Now, however, I would like to have an AMEX again since I am much more mature and responsible. My question is, the next time I get a letter asking to have that portion paid off, should I pay it off in the hopes of being approved for another card or should I just forget it and apply and hope for the best? I would love a gold Delta Skymiles but that may be out of my league for the time being. I am indifferent toward another green card. I would take it, but probably wouldn't use it that much if approved. Heaven would be a platinum, but I KNOW I don't stand a snowball's chance with that! My Equifax score is 667.
Thoughts and experiences?
@webhopper wrote:
My advice would be to first apply for an Amex pRG just to see if you are blacklisted
If blacklisted you can try to pay Amex and get the oasis program.
It's worth an app just to see if you are blacklisted and you can upgrade PRG to platinum later on if approved or just get both as one user did earlier this month.
If blacklisted, will they let one know that he/she is blacklisted? will it also result in a HP?
I am in a similar situation as OP and would like to know.
Two different unrelated issues here, in my view.
1. You are under no legal obligation to pay. The past SOL simply means you can no longer be compelled by a court to pay, but you still owe the debt. You will owe the debt, and Amex or its assigns has the right to try and collect until time immemorial. Whether you feel it's right or wrong to pay is a personal subjective view.
2. If you wish to pay only to have an Amex card, then it depends on the size of your settlement. I'm not sure if it's worth having an Amex if you have to pay a few thousand that you're legally no longer obligated to. If it's less than $1,000, then I can see paying to have a relationship with Amex again.
Finally, be careful, and get everything in writing. Paying old debts while honoroable is wrought with risks.
PS - As per Webhoppers, app for an Amex card to quickly see if you're on the blacklist. Instant decline with no CR pull and letter stipulating prior relationship means blacklist. Amex blacklists can last a very long time.
@Open123 wrote:Two different unrelated issues here, in my view.
1. You are under no legal obligation to pay. The past SOL simply means you can no longer be compelled by a court to pay, but you still owe the debt. You will owe the debt, and Amex or its assigns has the right to try and collect until time immemorial. Whether you feel it's right or wrong to pay is a personal subjective view.
2. If you wish to pay only to have an Amex card, then it depends on the size of your settlement. I'm not sure if it's worth having an Amex if you have to pay a few thousand that you're legally no longer obligated to. If it's less than $1,000, then I can see paying to have a relationship with Amex again.
Finally, be careful, and get everything in writing. Paying old debts while honoroable is wrought with risks.
PS - As per Webhoppers, app for an Amex card to quickly see if you're on the blacklist. Instant decline with no CR pull and letter stipulating prior relationship means blacklist. Amex blacklists can last a very long time.
This ^^^
Well, I applied online and, not surprisingly, the declined my app. I hate having the "ding" on my report, especially since it was rejected, but I would never know unless I tried. Called Amex to find out the reasons instead of waiting for the dreaded letter. New accounts office was closed.
Guess I'll stick with my $8,000 CL Discover Escape and my new $5,000 Citi Custom Credit Line.
I'd pay them.
@randeman wrote:Decades ago I had a green AMEX. Then I got into some SERIOUS trouble and the AMEX along with all my other cards were charged off. Since then, and every few years, I will get a letter from "someone" asking me to pay a reduced amount and clear it up. I usually ignore it since I am well past the time that it will show up on my CR and past the statute of limitations to be sued for the debt. Now, however, I would like to have an AMEX again since I am much more mature and responsible. My question is, the next time I get a letter asking to have that portion paid off, should I pay it off in the hopes of being approved for another card or should I just forget it and apply and hope for the best? I would love a gold Delta Skymiles but that may be out of my league for the time being. I am indifferent toward another green card. I would take it, but probably wouldn't use it that much if approved. Heaven would be a platinum, but I KNOW I don't stand a snowball's chance with that! My Equifax score is 667.
Thoughts and experiences?
if you decide to pay the Amex charge-off (to get back in with Amex), I wouldn't pay it by way of responding to the letters you get from "someone" off and on over the years.
most likely, those "someones" credit collectors who "bought" your debt from Amex, and Amex wouldn't even know that you paid.
I would deal directly with Amex if it turns out your denial from them was due to your past charge off (iirc, i have seen posters stating that they got an Amex card when Amex offered the card if they paid a charge off. i can't speak to that directly from experience, though.)
Just be aware of who the" someones" are who are offering to consider as paid in full for your payment of a reduced % of what they say you owe - collection agency vs Amex itself.