topic Re: AMEX approve ANY card with paid charge-offs on credit file? in Credit Card Approvals

AMEX approve ANY card with paid charge-offs on credit file?

badassmonkey11 — Wed, 22 May 2013 20:47:25 GMT

Does anyone know if AMEX will even approve someone with charge-offs still actively showing on credit files? The accounts were charged off 6 years ago (one more year or so to go to stop showing), but have been paid in full since. My credit scores from a month ago were EX:677; TU:716; EQ:691. I have 4 open credit card tradelines: MACYS $1500 (4 years old); CARECREDIT:3700 (less than 1 year); ORCHARD BANK (now crap one) $320 (2 years old); BARCLAY NFL REWARDS $800 (almost 6 months). I have student and auto loans all in good standing and have never been late on these accounts either.

I want to buy a house next year (saving for DP and CC takes forever!), so I have been trying to build my credit as best as possible. I would like a decent card as the Orchard Bank card would not increase my limit after 2 years (i am thinking bc it is Cap One and they rarely do anything like that).

Will I have any chance of getting approved for AMEX BCE or any other decent card?

Re: AMEX approve ANY card with paid charge-offs on credit file?

Anonymous — Wed, 22 May 2013 20:51:33 GMT

I have a CO on my report from 2009. It's marked as paid. I applied for and was insta-approved for the Amex SPG with a great CL (see Siggie). I had an Amex years ago that they closed on me (Acct in good standing, but I think due to the CO in 09). I recently went on an app spree and just went for it and was pleasantly surprised. My scores float around the 700 mark. I think 700 EX, 690 EQ, 720 TU. AAoA of somewhere between 6-7 years.

Hope this helps!

Re: AMEX approve ANY card with paid charge-offs on credit file?

dodgerslv — Wed, 22 May 2013 20:54:06 GMT

I was instantly approved for my first amex card in march with 2 chargeoffs (1 paid, 1 unpaid) from 2007 and a small paid collection from 2011.

Re: AMEX approve ANY card with paid charge-offs on credit file?

badassmonkey11 — Wed, 22 May 2013 20:57:56 GMT

hmm so it is definitely not a staright no. i don't think my scores are high enough and besides that you have much higher limits on other scores. Now I can say that my AAoA is around 6.5 years, so maybe that can help offset score. decisions decisions.

Re: AMEX approve ANY card with paid charge-offs on credit file?

badassmonkey11 — Wed, 22 May 2013 20:58:44 GMT

i meant higher limits on other cards....

Re: AMEX approve ANY card with paid charge-offs on credit file?

Anonymous — Wed, 22 May 2013 21:01:26 GMT

I got my CSP and Freedom after the SPG. At the time of my SPG application, I had Discover at 6k, Citi TY at 8.5k and BofA at 6k.

Not sure if that helps, but figured that might be helpful info.

Re: AMEX approve ANY card with paid charge-offs on credit file?

dodgerslv — Wed, 22 May 2013 21:11:33 GMT

@badassmonkey11 wrote:
hmm so it is definitely not a staright no. i don't think my scores are high enough and besides that you have much higher limits on other scores. Now I can say that my AAoA is around 6.5 years, so maybe that can help offset score. decisions decisions.

i think you have a really good chance at getting approved. your AAOA is strong. When i got approved my limits were still in the 2k range. Only my Cap1 and WF secured were my highest limts at 3.5k and 4k at that time. My AAOA was around 4 years.

Re: AMEX approve ANY card with paid charge-offs on credit file?

Anonymous — Wed, 22 May 2013 21:13:00 GMT

You should be fine with non-recent charge offs on file, unless those charge-offs are by American Express themselves. Best of luck!

Re: AMEX approve ANY card with paid charge-offs on credit file?

CreditJunkie917 — Wed, 22 May 2013 21:37:44 GMT

would two COs from 07/08 with SL default/collections disqualify me from apping an AMEX Green? Perfect payment history since 2010.

Re: AMEX approve ANY card with paid charge-offs on credit file?

phillyguy12 — Wed, 22 May 2013 21:45:00 GMT

i got the zync back in 11 w/ paid charge offs and paid collections showing, i think my score was around 660 and i only had 1st perimer $400 and credit one 1150 limit active at the time, earier this month i got their BCE but added other cards, their pull had my exp at 676 i think off hand still showed the pd charge offs and pd collections

Re: AMEX approve ANY card with paid charge-offs on credit file?

badassmonkey11 — Wed, 22 May 2013 23:34:38 GMT

I decided to try it and...was approved for $4600! I about fell over. Thanks everyone for your input! I do not yet know what bureau they pulled from, but once i find out i will post. Amd i will check my credit and see how many points it lifted me!

Re: AMEX approve ANY card with paid charge-offs on credit file?

09Lexie — Wed, 22 May 2013 23:56:25 GMT

Congrats!

Re: AMEX approve ANY card with paid charge-offs on credit file?

phillyguy12 — Thu, 23 May 2013 00:22:33 GMT

congrats

Re: AMEX approve ANY card with paid charge-offs on credit file?

myjourney — Thu, 23 May 2013 03:36:21 GMT

@badassmonkey11 wrote:
I decided to try it and...was approved for $4600! I about fell over. Thanks everyone for your input! I do not yet know what bureau they pulled from, but once i find out i will post. Amd i will check my credit and see how many points it lifted me!

Congrats

Re: AMEX approve ANY card with paid charge-offs on credit file?

Anonymous — Thu, 23 May 2013 05:49:25 GMT

Congrats!

Re: AMEX approve ANY card with paid charge-offs on credit file?

badassmonkey11 — Wed, 29 May 2013 17:02:11 GMT

Just wanted to say they checked Transunion FICO for my application (pulled at 701). Also, I called and applied with a representative (I did not apply online as I had a few questions i wanted to ask). The rep told me that in regards to which credit agency they use is based on which gets back to them the fastest among other things. He also said that you could get your "results" back faster by applying via phone since applying online can sometimes cause delay with how their systems work with the application process.

Hope this helps someone....

Re: AMEX approve ANY card with paid charge-offs on credit file?

sjt — Thu, 30 May 2013 20:20:17 GMT

@badassmonkey11 wrote:
Does anyone know if AMEX will even approve someone with charge-offs still actively showing on credit files? The accounts were charged off 6 years ago (one more year or so to go to stop showing), but have been paid in full since. My credit scores from a month ago were EX:677; TU:716; EQ:691. I have 4 open credit card tradelines: MACYS $1500 (4 years old); CARECREDIT:3700 (less than 1 year); ORCHARD BANK (now crap one) $320 (2 years old); BARCLAY NFL REWARDS $800 (almost 6 months). I have student and auto loans all in good standing and have never been late on these accounts either.

I want to buy a house next year (saving for DP and CC takes forever!), so I have been trying to build my credit as best as possible. I would like a decent card as the Orchard Bank card would not increase my limit after 2 years (i am thinking bc it is Cap One and they rarely do anything like that).

Will I have any chance of getting approved for AMEX BCE or any other decent card?

I think it all depends on 1) how old the charges offs are 2) what credit you have since established 3) income