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Frequent Contributor
randeman
Posts: 272
Registered: ‎12-13-2012
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Re: Pay charged off AMEX?

They said "no."  The guy I spoke with at the "executive offices" who claimed to be a superviser, said that their denial standards are the same.  The same reason that denied the first card will cause the second to be denied.

Experian Score: 689--Amex 27 July 2014; Equifax Score 680--MyFICO--17 September 2014; TransUnion Score 718-Discover 20 August 2014--PUH-RAISE JESUS, I finally broke 700!!! Cards and Credit Lines: Escape by Discover, Chase Freedom Signature Visa, Chase United MileagePlus Explorer Signature Visa, Chase Sapphire Preferred Signature Visa, Barclay's Holland America Visa, Citibank Custom Credit Line, Paypal Custom Connect Credit Line, Bloomingdale's, Macy's Premier Elite, Amazon Store Card, Lord & Taylor, Nordstrom, Discover It, Gold Delta SkyMiles from American Express, PayPal BML.
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randeman
Posts: 272
Registered: ‎12-13-2012
0

Re: Pay charged off AMEX?


distantarray wrote:

You sure you want the Delta card? It's probably one of the worst programs out there. If you live next to a Suntrust you can get a Delta Skymiles World Master card DEBIT which pretty much does the same or more, unless free checked in bags for upto 9 people is your primarly want for the card. 

 

Delta Skymiles redemptions are awful, Never found 1 single award flight that was for a decent rate. United however I never have issues finding awards for the flights I want. Delta Skymiles are valued at 1.22 cents the frequent flyer sites, and United is 3 to 9 cents depending on how you redeem it. For instance 140,000 points can get you a saver first class award to Asia. In the summer that can cost $12,000+ 


Yes, because I have the greatest number of FF miles on Delta.  Further, my closest airport is Newark, United has a fortress hub there.  Fares are almost always significantly higher from Newark than any other NYC airport.  I generally have to go to Kennedy or LaGuardia to find cheaper fares.  If I am going all the way to LGA or JFK, I may as well forget United and fly someone else.  Since Delta often has lower fares at the other airports, and since I have more miles with them, it's a no brainer.

Experian Score: 689--Amex 27 July 2014; Equifax Score 680--MyFICO--17 September 2014; TransUnion Score 718-Discover 20 August 2014--PUH-RAISE JESUS, I finally broke 700!!! Cards and Credit Lines: Escape by Discover, Chase Freedom Signature Visa, Chase United MileagePlus Explorer Signature Visa, Chase Sapphire Preferred Signature Visa, Barclay's Holland America Visa, Citibank Custom Credit Line, Paypal Custom Connect Credit Line, Bloomingdale's, Macy's Premier Elite, Amazon Store Card, Lord & Taylor, Nordstrom, Discover It, Gold Delta SkyMiles from American Express, PayPal BML.
Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012
0

Re: Pay charged off AMEX?

Even if your credit card charge off is past the statute of limitations, I was under the impression that if you pay it off/settle your credit score would take a huge hit with that charge off newly marked as "paid." Does anyone know for sure?

 

If that's the case, the OP should definitely not settle with those debt collectors unless he gets something in writing before paying saying that they will not report anything to the credit bureaus. This appears to be a moot point though since the OP doesn't seem to be blacklisted.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
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tinuviel
Posts: 4,875
Registered: ‎11-02-2010
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Re: Pay charged off AMEX?


bribro wrote:

Even if your credit card charge off is past the statute of limitations, I was under the impression that if you pay it off/settle your credit score would take a huge hit with that charge off newly marked as "paid." Does anyone know for sure?

 

If that's the case, the OP should definitely not settle with those debt collectors unless he gets something in writing before paying saying that they will not report anything to the credit bureaus. This appears to be a moot point though since the OP doesn't seem to be blacklisted.


My understanding is that since paying an old CO will update the DOLA, it will make activity on a CO appear recent and will result in a score drop. If the OP wishes to settle the CO but doesn't want to take a score hit, I would recommend waiting until the CO has completely aged off the report. Since the age of items is based on DOFD, then it shouldn't be allowed to reappear on the report. If, however, the OP wants to settle before the item has aged off, then I agree that it's important to get an agreement in writing stating that the item will not be updated with the CRAs.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
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Established Contributor
tennisfan78
Posts: 636
Registered: ‎09-18-2011
0

Re: Pay charged off AMEX?

 

How can a person be sure that it is past SOL? I understand that it is based on the state a person lives in. But is it based on DOLA or DOFD? Also, where can one find the DOLA and DOFD of an account?

 

If it does not appear on the credit report, does it automatically mean that it is past SOL?

 

 


Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

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Moderator Emeritus
tinuviel
Posts: 4,875
Registered: ‎11-02-2010
0

Re: Pay charged off AMEX?


tennisfan78 wrote:

 

How can a person be sure that it is past SOL? I understand that it is based on the state a person lives in. But is it based on DOLA or DOFD? Also, where can one find the DOLA and DOFD of an account?

 

If it does not appear on the credit report, does it automatically mean that it is past SOL?

 

 


As you stated, it is dictated based upon the state in which one lives. Generally, the "clock" starts ticking from the time of the last payment. You can google "credit card statue of limitations" to find a variety of sites that list the statutes for each individual state.

 

And even if an item doesn't appear on your report, that doesn't automatically mean anything. It could be that the item somehow fell through the cracks, but the state statutes would still apply.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Established Contributor
tennisfan78
Posts: 636
Registered: ‎09-18-2011
0

Re: Pay charged off AMEX?


tinuviel wrote:

tennisfan78 wrote:

 

How can a person be sure that it is past SOL? I understand that it is based on the state a person lives in. But is it based on DOLA or DOFD? Also, where can one find the DOLA and DOFD of an account?

 

If it does not appear on the credit report, does it automatically mean that it is past SOL?

 

 


As you stated, it is dictated based upon the state in which one lives. Generally, the "clock" starts ticking from the time of the last payment. You can google "credit card statue of limitations" to find a variety of sites that list the statutes for each individual state.

 

And even if an item doesn't appear on your report, that doesn't automatically mean anything. It could be that the item somehow fell through the cracks, but the state statutes would still apply.


If it doesnt appear on the credit report, how can one find out what the DOFD is and if SOL still applies. Any ideas?


Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

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