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Posts: 1
Registered: ‎06-08-2008
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R9 to AMEX

Hello All:
 
I was wondering if anyone in this forum could shed some light on the fact that back in 1995 I opened an AMEX account.  I had the account for 2 years and then it went R-9, hence the account was then paid off by me and then closed by AMEX in 1997 becuase of the R-9 status.  I have not had any interaction with AMEX since then.  Now that I am no longer in college, much older and more responsible with my finances, I have since been able to establish a long standing credit history multiple credit card accounts, mortgage companies, banks, etc.  Therefore, I am wondering if i  were to go and apply for an AMEX card today if they would consider me for approval?  Would the closed account from 10 yrs ago that went R-9 that they were fully paid on be an issue now?  I Own real estate, have a mortgage that has never been late, i have a 710 FICO and no balancees on my 13 revolving credit accounts.  Any thoughts?
 
I would hate to make the request and not be approved.
 
  
 
 
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: R9 to AMEX

For those of us who don't have the derogatory code list handy, what's an R-9?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
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Re: R9 to AMEX

R- Revolving (usually a credit card)
I - installment (like home or auto loan)

R1 or I1 = pays as agreed never late
R2 or I2 = 30 days late
R3 or I3 = 60 days late
R4 or I4 = 90 days late
R5 or I5 = 120 days late
R7 or I7 = making regular payments under wage earner plan
R8 or I8 = repossession
R9 or I9 = charge off

Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: R9 to AMEX

Assuming you are talking about a charge off (I have no idea), you could call them and ask to be invited to the Oasis program. They will give you a card with history back to 95 (free 13 year history), and a CL of half of the charged off amount. I believe a member had posted about being able to get different Amex cards after a year with the Oasis Optima card, but could be mistaken.

I personally think that the Oasis program is brilliant. Amex gets their old debt back, and the consumer gets a new card with a lot of history, plus the removal of the derogatory info from CRs, so everyone wins.
Here we go again...
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: R9 to AMEX

I think it was a paid charge-off, if I read correctly. OP, did you pay the original debt in full, or did you pay a negotiated lower amount?

So Oasis people, will AmEx offer Oasis if you don't owe them any money? in the fine commercial tradition of "what's in it for me..." Smiley Tongue
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
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Re: R9 to AMEX



haulingthescoreup wrote:
I think it was a paid charge-off, if I read correctly. OP, did you pay the original debt in full, or did you pay a negotiated lower amount?

So Oasis people, will AmEx offer Oasis if you don't owe them any money? in the fine commercial tradition of "what's in it for me..." Smiley Tongue

Unfortunately, no.  I specifically asked Amex about this on behalf of a friend of mine who had a paid CO, and they told me the Oasis program doesn't apply if the CO is already paid.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: R9 to AMEX



cheddar wrote:







haulingthescoreup wrote:
I think it was a paid charge-off, if I read correctly. OP, did you pay the original debt in full, or did you pay a negotiated lower amount?

So Oasis people, will AmEx offer Oasis if you don't owe them any money? in the fine commercial tradition of "what's in it for me..." Smiley Tongue



Unfortunately, no. I specifically asked Amex about this on behalf of a friend of mine who had a paid CO, and they told me the Oasis program doesn't apply if the CO is already paid.






Just curious...If the CO is paid, does that preclude someone from getting another Amex?
Here we go again...
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
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Re: R9 to AMEX



FretlessMayhem wrote:

Just curious...If the CO is paid, does that preclude someone from getting another Amex?

Great question.  I'd be interested in knowing the answer to this, too.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: R9 to AMEX

I would say OP should apply for Delta and see what happens. Worst case one hard inq. But I think chances are good. I got Platinum when I paid off my old account in full. Again that is a different story.
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