Trying to keep Amex open after late payments...

[Ortz33__]

Hello everyone. I'm in need of some advice.  I am 30 days late with my Amex Gold payment and won't be able to pay the balance in full until just about 90 days past due. I was approved for the 12 month hardship plan and they advised me to call before May 1st to officially enroll. I asked them if my card would be kept open during this period and they said there is not a guarantee. 

Has anyone ever negotiated with Amex before?  I'd really like to keep this relationship and hope they don't close the card.  I will have the cash by 90 days late to pay it.  I know 180 days is really a charge off date but the rep said they could cancel anytime and it's a computer decision.

has anyone ever had their card closed for being less than 90 days late?

[myjourney]

Sounds to me as they've given you a chance at the Oasis program but they'll probably close the card down 

The good news you'll be able to get a new card in the future IMHO

[Ortz33__]

Thanks. Oh well. I'll just have to be patient.  We'll see if they close it before I can PIF soon

[Blackbeauty212]

I think it's only fair..... I wouldn't mind they close the account to limit Risk, any smart company would. I would just want to know that it doesn't blacklist me as a deadbeat to AMEX in the future should I want to re-open or apply for another account. I wonder does your MSD keep it's history, or does the OASIS program wipe your MSD and any new account after the program restarts the MSD. 

[sexy_kitten7]

I would recommend becoming current on your payments today. For example, someone who is 60 days late would need to pay 2 months' worth of minimum payments to become current. Surely this amount is much less than the full balance.

[myjourney]

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@sexy_kitten7 wrote:

I would recommend becoming current on your payments today. For example, someone who is 60 days late would need to pay 2 months' worth of minimum payments to become current. Surely this amount is much less than the full balance.

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The card in question has no minimum payment and must be paid in full monthly to stay active (charge card)

[maiden_girl]

I think the last thing you need to be worrying about is whether or not they close your card. You have to get current with them and GW the heck out of them to avoid getting the lates reported--if you pay off your remaining balance get in writing they won't report lates or remove the late payments already reported. Question but was there a reason you applied for a AF Gold card? Not asking to be mean but were you aware it wasn't a revolving line of credit and that it required payment in full each month?

Can these type of cards offered by AMEX be PC'd to revolving accounts? Anyone know?

[myjourney]

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@maiden_girl wrote:

I think the last thing you need to be worrying about is whether or not they close your card. You have to get current with them and GW the heck out of them to avoid getting the lates reported--if you pay off your remaining balance get in writing they won't report lates or remove the late payments already reported. Question but was there a reason you applied for a AF Gold card? Not asking to be mean but were you aware it wasn't a revolving line of credit and that it required payment in full each month?

Can these type of cards offered by AMEX be PC'd to revolving accounts? Anyone know?

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No, 

Amex rules for PC 

Charge to charge 

Revolver to revolver 

[maiden_girl]

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@myjourney wrote:

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@maiden_girl wrote:

I think the last thing you need to be worrying about is whether or not they close your card. You have to get current with them and GW the heck out of them to avoid getting the lates reported--if you pay off your remaining balance get in writing they won't report lates or remove the late payments already reported. Question but was there a reason you applied for a AF Gold card? Not asking to be mean but were you aware it wasn't a revolving line of credit and that it required payment in full each month?

Can these type of cards offered by AMEX be PC'd to revolving accounts? Anyone know?

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No, 

Amex rules for PC 

Charge to charge 

Revolver to revolver 

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Good to know. Thanks MJ.