topic Re: Past American Express Platinum Holder in Credit Card Applications

Past American Express Platinum Holder

joeyv1985 — Mon, 20 Jul 2020 18:38:57 GMT

All,

I had the AMEX Platinum years ago, circa 2007-2010, and the closed they account because their Algo's deemed me a risk. I hate to admit it, but they were right. Anyway, I was allowed to balance in installments and the card was PIF in about 2-3 months. Fast forward to today, my FICO 8 scores average 753-768. I plan on gardening for the next 18 months because I'd like to hit 800. I went on the Amex Website to see if I pre-qualify, and to surprise I prequalified for almost all the cards, Platinum included. The question that I have is should I apply for an AMEX card knowing full well they closed my account in the past? Will they decline me because of what happened years ago? Granted it would be at least 18 months before I do this. Again, you're input would be greatly appreciated.

Re: Past American Express Platinum Holder

joeyv1985 — Mon, 20 Jul 2020 18:41:18 GMT

Sorry for the misspelled words. On a call right now and for some reason there's no auto spell check on this website.

Re: Past American Express Platinum Holder

lhcole77 — Mon, 20 Jul 2020 19:33:22 GMT

If you really want it, I say go for it.

The Plat is one of my favorites.

Did you get a SUB when you had it before?

Re: Past American Express Platinum Holder

joeyv1985 — Mon, 20 Jul 2020 19:40:47 GMT

@lhcole77 wrote:
If you really want it, I say go for it.

The Plat is one of my favorites.

Did you get a SUB when you had it before?

Hello lhcole77,

Do the best of knowledge, I don't ever think I had a SUB. I do remember getting an invite in the mail and I just jumped at the opportunity.

Re: Past American Express Platinum Holder

coldfusion — Mon, 20 Jul 2020 20:11:49 GMT

AMEX welcomes back their prodigal children if they have led mostly virtuous lives after leaving home.

You made them whole, and it's been more than long enough for any lingering bad feelings on their part to have dissipated. The only way to know if they're ready to take you back is to apply. If you're on their blocklist you'll be instantly denied without a HP but if deferred or denied with a HP it means you were evaluated based on your merits.

Re: Past American Express Platinum Holder

joeyv1985 — Mon, 20 Jul 2020 21:14:58 GMT

@coldfusion wrote:
AMEX welcomes back their prodigal children if they have led mostly virtuous lives after leaving home.

You made them whole, and it's been more than long enough for any lingering bad feelings on their part to have dissipated. The only way to know if they're ready to take you back is to apply. If you're on their blocklist you'll be instantly denied without a HP but if deferred or denied with a HP it means you were evaluated based on your merits.

LOL! Thanks for the vote of confidence curmedgeon. For the record, I went on their website earlier to see if a pre-qualified. I entered my information and it came back saying I pretty much pre-qualified for everything in their aresnal. I'm assuming any blockade of me getting a card from them, has been removed.

Re: Past American Express Platinum Holder

coldfusion — Mon, 20 Jul 2020 21:29:22 GMT

@joeyv1985 wrote:
@coldfusion wrote:
AMEX welcomes back their prodigal children if they have led mostly virtuous lives after leaving home.

You made them whole, and it's been more than long enough for any lingering bad feelings on their part to have dissipated. The only way to know if they're ready to take you back is to apply. If you're on their blocklist you'll be instantly denied without a HP but if deferred or denied with a HP it means you were evaluated based on your merits.
LOL! Thanks for the vote of confidence curmedgeon. For the record, I went on their website earlier to see if a pre-qualified. I entered my information and it came back saying I pretty much pre-qualified for everything in their aresnal. I'm assuming any blockade of me getting a card from them, has been removed.

Despite my alias I do have a sense of humor.

AMEX is like Chase in that the prequals don't look at every senario that would lead to an automatic denial - the classic Chase example is if one has a BK reporting - so you can't make that assumption. However:

In your particular case your account was closed due to perception of high risk, not due to fraud or chargeoff, and (very important) they were paid in full in a timely manner once the account was closed. Given that it's been 10 years I'd be amazed if you were (still) blocklisted.

Re: Past American Express Platinum Holder

joeyv1985 — Mon, 20 Jul 2020 21:38:49 GMT

@coldfusion wrote:
@joeyv1985 wrote:
@coldfusion wrote:
AMEX welcomes back their prodigal children if they have led mostly virtuous lives after leaving home.

You made them whole, and it's been more than long enough for any lingering bad feelings on their part to have dissipated. The only way to know if they're ready to take you back is to apply. If you're on their blocklist you'll be instantly denied without a HP but if deferred or denied with a HP it means you were evaluated based on your merits.
LOL! Thanks for the vote of confidence curmedgeon. For the record, I went on their website earlier to see if a pre-qualified. I entered my information and it came back saying I pretty much pre-qualified for everything in their aresnal. I'm assuming any blockade of me getting a card from them, has been removed.
Despite my alias I do have a sense of humor.

AMEX is like Chase in that the prequals don't look at every senario that would lead to an automatic denial - the classic Chase example is if one has a BK reporting - so you can't make that assumption. However:

In your particular case your account was closed due to perception of high risk, not due to fraud or chargeoff, and (very important) they were paid in full in a timely manner once the account was closed. Given that it's been 10 years I'd be amazed if you were (still) blocklisted.

Your sense of humor is greatly appreciated. I'm in the gardening phase right now, but I wouldn't mind getting the Amex Platinum again in the next 18 months or so once my business is up and running. I'm trying to stay off the "Radar" so to speak and if I apply for a new credit card now, I'm just asking for it.

Re: Past American Express Platinum Holder

K-in-Boston — Tue, 21 Jul 2020 01:34:24 GMT

I think you have a great shot. If you're holding off and considering the card for business, I'd strongly suggest looking at the business version of the card. Other than a potential HP for the application, it will never report to your personal credit reports unless delinquent. Bypassing the current additional COVID incentives, it basically swaps the $200 Uber credit and $50x2 Sak's credit for the $100x2 Dell credit with a very slightly higher AF, 1.5x earning on purchases over $5k, and frequent Amex Offers that don't appear on the personal cards (like 10% statement credits from FedEx, FedEx Office, Staples, and Dell with very high maximums). If you redeem MRs through Amex Travel, there's a 35% rebate on the points used so they're worth at least 1.54 cents rather than 1 cent way. The business card only earns 5x when airfare is booked through Amex Travel, not when booked directly with the airline unfortunately, but otherwise there are a lot of positives to it.

Re: Past American Express Platinum Holder

joeyv1985 — Tue, 21 Jul 2020 01:42:53 GMT

@K-in-Boston wrote:
I think you have a great shot. If you're holding off and considering the card for business, I'd strongly suggest looking at the business version of the card. Other than a potential HP for the application, it will never report to your personal credit reports unless delinquent. Bypassing the current additional COVID incentives, it basically swaps the $200 Uber credit and $50x2 Sak's credit for the $100x2 Dell credit with a very slightly higher AF, 1.5x earning on purchases over $5k, and frequent Amex Offers that don't appear on the personal cards (like 10% statement credits from FedEx, FedEx Office, Staples, and Dell with very high maximums). If you redeem MRs through Amex Travel, there's a 35% rebate on the points used so they're worth at least 1.54 cents rather than 1 cent way. The business card only earns 5x when airfare is booked through Amex Travel, not when booked directly with the airline unfortunately, but otherwise there are a lot of positives to it.

Thanks K. The only thing I can't get my head around is that in order to get the SUB for the Business Card, I would have to spend $15K in 3 months, while the personal card I would only have to spend $5K. I just don't know how I can justify the former unless I land 5 enterprise accounts that require a ton of international travel and dining at Michelen Star restaurants. Or I could just win the lottery and become a professional tourist. Never say never I guess. LOL!

Re: Past American Express Platinum Holder

lhcole77 — Tue, 21 Jul 2020 06:07:08 GMT

I waited until I had a 100K SUB.

One of the major benefits to this card is travel. And that's not happening much right now.

So might be worth the wait if there's not a 100K offer right now.

Re: Past American Express Platinum Holder

joeyv1985 — Tue, 21 Jul 2020 18:35:26 GMT

@lhcole77 wrote:
I waited until I had a 100K SUB.

One of the major benefits to this card is travel. And that's not happening much right now.

So might be worth the wait if there's not a 100K offer right now.

100K?! How much does one have to spend to get that? Not the standard $5K right?

Re: Past American Express Platinum Holder

lhcole77 — Tue, 21 Jul 2020 19:15:47 GMT

@joeyv1985 wrote:
100K?! How much does one have to spend to get that? Not the standard $5K right?

My spend was somewhere between $1K and $3K...I forget exactly how much. But definitely was not $5K.

Re: Past American Express Platinum Holder

joeyv1985 — Tue, 21 Jul 2020 19:19:10 GMT

@lhcole77 wrote:
@joeyv1985 wrote:
100K?! How much does one have to spend to get that? Not the standard $5K right?
My spend was somewhere between $1K and $3K...I forget exactly how much. But definitely was not $5K.

Gotcha. Must have been a while ago say the last recession?

Re: Past American Express Platinum Holder

PointsBonus — Thu, 23 Jul 2020 06:30:51 GMT

Beauty of AMEX (majority of the time)

Approved = Hard inquiry

Declined = Soft Inquiry

what u got to loose ?

keep us posted if u go for it

Re: Past American Express Platinum Holder

cashorcharge — Mon, 03 Aug 2020 23:27:29 GMT

I can attest to this @coldfusion as I too was a prodigal son.

I was welcomed back @joeyv1985 and the best part of the entire thing...however this was about 10 years ago....when I was welcomed back with open arms....my card came and it send Member Since 1988 (my original year) and it shows that original opening date on all my CR's. Nothing bad, no mishaps...just a nice long 32 year history. Glitch or Luck? I don't know...I didn't ask but it's been a big help. While @K-in-Boston has some great points about the business card and TBH, I kept getting offers for the Business Card pre-covid and ignored them....I should have done my homework. Regardless, if you go back...see if your original "relationship" date is a possibility. Good Luck when you decide!!

Re: Past American Express Platinum Holder

Anonymous — Mon, 03 Aug 2020 23:48:34 GMT

@cashorcharge wrote:
I can attest to this @coldfusion as I too was a prodigal son.
I was welcomed back @joeyv1985 and the best part of the entire thing...however this was about 10 years ago....when I was welcomed back with open arms....my card came and it send Member Since 1988 (my original year) and it shows that original opening date on all my CR's. Nothing bad, no mishaps...just a nice long 32 year history. Glitch or Luck? I don't know...I didn't ask but it's been a big help. While @K-in-Boston has some great points about the business card and TBH, I kept getting offers for the Business Card pre-covid and ignored them....I should have done my homework. Regardless, if you go back...see if your original "relationship" date is a possibility. Good Luck when you decide!!

same thing happened to me when i was younger. had a green card many years ago and burned them for a few thousand bucks.

the collections just fell off my report.

(i was horrible with credit and money when i was younger).

fast forward to beginning of the year, i applied for the amex platinum, once my scores improved and i was approved.

when the card arrived, it said i have been a member since 2000.

Re: Past American Express Platinum Holder

joeyv1985 — Tue, 04 Aug 2020 01:12:30 GMT

@Anonymous wrote:
@cashorcharge wrote:
I can attest to this @coldfusion as I too was a prodigal son.
I was welcomed back @joeyv1985 and the best part of the entire thing...however this was about 10 years ago....when I was welcomed back with open arms....my card came and it send Member Since 1988 (my original year) and it shows that original opening date on all my CR's. Nothing bad, no mishaps...just a nice long 32 year history. Glitch or Luck? I don't know...I didn't ask but it's been a big help. While @K-in-Boston has some great points about the business card and TBH, I kept getting offers for the Business Card pre-covid and ignored them....I should have done my homework. Regardless, if you go back...see if your original "relationship" date is a possibility. Good Luck when you decide!!

same thing happened to me when i was younger. had a green card many years ago and burned them for a few thousand bucks.
the collections just fell off my report.
(i was horrible with credit and money when i was younger).

fast forward to beginning of the year, i applied for the amex platinum, once my scores improved and i was approved.

when the card arrived, it said i have been a member since 2000.

Wow. I had my 1st AA back in college in the late 80's. Hopefully they'll put "Member Since 1987" on the card should I reapply and be approved for it.

Re: Past American Express Platinum Holder

joeyv1985 — Tue, 04 Aug 2020 01:13:59 GMT

@cashorcharge wrote:
I can attest to this @coldfusion as I too was a prodigal son.
I was welcomed back @joeyv1985 and the best part of the entire thing...however this was about 10 years ago....when I was welcomed back with open arms....my card came and it send Member Since 1988 (my original year) and it shows that original opening date on all my CR's. Nothing bad, no mishaps...just a nice long 32 year history. Glitch or Luck? I don't know...I didn't ask but it's been a big help. While @K-in-Boston has some great points about the business card and TBH, I kept getting offers for the Business Card pre-covid and ignored them....I should have done my homework. Regardless, if you go back...see if your original "relationship" date is a possibility. Good Luck when you decide!!

I will ask. Thank you @ cashorcharge.

Re: Past American Express Platinum Holder

joeyv1985 — Tue, 04 Aug 2020 01:17:21 GMT

@PointsBonus wrote:
Beauty of AMEX (majority of the time)

Approved = Hard inquiry
Declined = Soft Inquiry

what u got to loose ?

keep us posted if u go for it

Thanks Viper. Because of the company that I just started, I probably will apply for one in about 18 months. In the interim, I'll just garden. I've had too many inquiries in the past 12 months and I just opened up 3 credit cards since February and a Re-Fi on a car loan back in November.