Question for AMEX cardholders

[Anonymous]

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@Anonymous wrote:

I'm thinking i'll be okay, because I was accepted by amex about ten days ago, and the collection appeared the day after i was approved. I'm paying the collection tomorrow and on average my collections have been deleted within a week. So unless they soft pull me within a few weeks after approving me, hopefully they wont ever know. But It's also not a big deal, when they increase my limit, they increase my limit. I have an AMEX with a usable limit when people tell me based on my stats I shouldn't even have gotten that, so whatevs.

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Collections just get taken off now after u pay for it? I guess thats a new change that i havent heard of. It used to be that when you payed a collection, it still stayed on your credit report for the rest of the 7 yrs..

[Anonymous]

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@beautifulblaquepearl wrote:
Don't take for granted that this collection agency will PFD. I would still get it in writing before paying the balance especially since you are down to your last two collections. I am not telling you not to pay it because I believe if a debt is owed then it should be paid. I just want you to protect yourself. Not all collection agencies are created equal and legally they don't have to remove it. Without it in writing you really would have no recourse. Plus, PIF the balance re-ages the account so it could be on your report for another 7 years. Even though it's an old debt, it can appear to be new since it was just added to your credit profile. A new collection is never good. Again, best of luck to you!

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+1.

[Anonymous]

Why am I being talked to like an idiot lol. I am well aware that I have to pfd, I said the other ones were before I knew about pfd and got lucky. Like I said, I know how to get rid of collections. Yall craycray.

[Anonymous]

Amex007, I assume they were mistakes on the agents part? Or they liked me bc i dont d**k them around? Im not sure how or why thry got deleted, don't really care and I certainly wasn't gonna call to ask why lol

[LadyJEsq]

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@Anonymous wrote:
Why am I being talked to like an idiot lol. I am well aware that I have to pfd, I said the other ones were before I knew about pfd and got lucky. Like I said, I know how to get rid of collections. Yall craycray.

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This is a community that looks out for each other. Odd that you took, what was only meant to be helpful advice, as being talked to like you're an idiot. (ETA: And we get called "craycray" to boot!) And no one said you weren't aware of PFD, what we did say, was get it in writing. That's it. And we only said that because you mentioned calling. But hey, it's your life, live it as you will. 

Take care! 

[red259]

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@LadyJEsq wrote:

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@Anonymous wrote:
Why am I being talked to like an idiot lol. I am well aware that I have to pfd, I said the other ones were before I knew about pfd and got lucky. Like I said, I know how to get rid of collections. Yall craycray.

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This is a community that looks out for each other. Odd that you took, what was only meant to be helpful advice, as being talked to like you're an idiot. (ETA: And we get called "craycray" to boot!) And no one said you weren't aware of PFD, what we did say, was get it in writing. That's it. And we only said that because you mentioned calling. But hey, it's your life, live it as you will. 

Take care! 

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Some of us don't know about it, so while it may not be helpful to OP it can be helpful to other people who are reading the thread and did not know about this option. Just because someone doesn't know does not mean they are an idiot and LadyJEsq was clearly just trying to offer useful advice. 

[longtimelurker]

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@Anonymous wrote:

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@Anonymous wrote:

I'm thinking i'll be okay, because I was accepted by amex about ten days ago, and the collection appeared the day after i was approved. I'm paying the collection tomorrow and on average my collections have been deleted within a week. So unless they soft pull me within a few weeks after approving me, hopefully they wont ever know. But It's also not a big deal, when they increase my limit, they increase my limit. I have an AMEX with a usable limit when people tell me based on my stats I shouldn't even have gotten that, so whatevs.

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Collections just get taken off now after u pay for it? I guess thats a new change that i havent heard of. It used to be that when you payed a collection, it still stayed on your credit report for the rest of the 7 yrs..

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Not automatically, which is why people are talking about PFD, where the collection agency agrees to remove it in return for being paid.   As others say, you need to get it in writing as once they have the money they have no incentive to go through the delete process.

[Anonymous]

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@Anonymous wrote:

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@NRB525 wrote:

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@red259 wrote:

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@Anonymous wrote:

Yeah I wouldn't do it at the time of activation. Actually that would hurt me if anything, a collection jumped from my TU and EQ onto my EX the day after i was approved for this card, i wouldn't want them to see that

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Its best to wait at least the 60 days then , although make no mistake they will see the collection no matter what you do. Amex will continue to soft pull your credit report during the life of your account in order to keep tabs on your credit. 

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This is true. It is also true that it is difficult to determine exactly when AMEX has last SP your file. The CLI reviews that AMEX does are only on the basis of SP information, so even if the collection gets removed, if the last SP AMEX has on file includes the collection, one must still wait for the SP to catch up, for the SP to get past the time when the collection was removed, before requesting a CLI.

The 60 day general guideline could then be applied to the timing of when the collection is fully removed: 61 days after that might be a good time to do the CLI, which allows time for a SP to be done some time in that 60 day window.

In the meantime, don't be afraid to fully utilize the $500 limit as long as you are paying in full or paying frequently. That usage and payment pattern is going to be included in the CLI analysis, in AMEX's internal score for your file. When my Delta Gold limit was still $2k, I started pushing up against that limit after a year of consistent PIF usage, and they gave me an auto CLI to $3k as the balance approached $2k. By pushing the $500, and PIF, you are signalling that the limit may not be enough. It is possible eventually they will respond with an auto CLI.

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I'm thinking i'll be okay, because I was accepted by amex about ten days ago, and the collection appeared the day after i was approved. I'm paying the collection tomorrow and on average my collections have been deleted within a week. So unless they soft pull me within a few weeks after approving me, hopefully they wont ever know. But It's also not a big deal, when they increase my limit, they increase my limit. I have an AMEX with a usable limit when people tell me based on my stats I shouldn't even have gotten that, so whatevs.

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You must get in writing that the collection agency will delete from bureaus after PIF.  If you haven't previously done this, don't rely on previous history.