topic Re: Amex Gold defaulted + 7 years off my credit report in Credit Card Applications

Amex Gold defaulted + 7 years off my credit report

pytyty — Wed, 11 May 2022 11:26:26 GMT

I used to have the Amex Gold Preferred Card, which I defaulted, is now off my credit report, can I reapply for a new Amex card or I'm blacklisted per life?

I have worked hard to fix my credit report, no colections only 2 cards in good, standing pay off monthly, each credit agency currently reporting 700 or more...

Re: Amex Gold defaulted + 7 years off my credit report

sarux3 — Wed, 11 May 2022 13:25:46 GMT

Welcome to the forums. It's likely that you are blacklisted with Amex, as they are rather infamous for having a long memory regarding defaults, charge-offs, etc. If you were to apply for an Amex and it comes back with a denial without incurring a hard pull, that's a sure sign that you're on the blacklist. How much did you burn them for on the Gold card? You may be able to get back into their good graces by paying back the amount that you defaulted.

Re: Amex Gold defaulted + 7 years off my credit report

pytyty — Wed, 11 May 2022 13:31:51 GMT

Ir was only a bit above $4500 I used to charge about 10k. And yes I did pay the owed amount even after the account was closed, they weren't kind enough to keep the account opened or reinstate it. I'm sure I'm blacklisted, I have never again received any offers, but I do believe that by having a co-branded card like the Schwab Investor card by Amex or being a homeowner may increase your odds for approval since this indicate there's a collateral they can go after to mitigate risk. I was hoping to find someone who went they this before

Re: Amex Gold defaulted + 7 years off my credit report

coldfusion — Wed, 11 May 2022 13:33:04 GMT

@pytyty wrote:
I used to have the Amex Gold Preferred Card, which I defaulted, is now off my credit report, can I reapply for a new Amex card or I'm blacklisted per life?
I have worked hard to fix my credit report, no colections only 2 cards in good, standing pay off monthly, each credit agency currently reporting 700 or more...

AMEX does not have a set blanket policy with regard to length of blacklisting, it's evaluated on a case-by-case basis based upon a number of factors including how much you burned them for, how long ago you burned them, and whether or not there was fraud involved. 7 years is long enough ago that there is a possiblity you have been removed from the blacklist.

If you apply and are denied without a hard pull you are still on the blacklist. If there was a hard pull you're no longer on their blacklist even if you were denied.

A positive result from a preapproval check does not mean you've been removed from the blacklist.

Re: Amex Gold defaulted + 7 years off my credit report

pytyty — Wed, 11 May 2022 13:34:54 GMT

This is very helpful, what do you think of my thoughts on my reply to the user above yours?

Re: Amex Gold defaulted + 7 years off my credit report

coldfusion — Wed, 11 May 2022 13:41:29 GMT

@pytyty wrote:
Ir was only a bit above $4500 I used to charge about 10k. And yes I did pay the owed amount even after the account was closed, they weren't kind enough to keep the account opened or reinstate it. I'm sure I'm blacklisted, I have never again received any offers, but I do believe that by having a co-branded card like the Schwab Investor card by Amex or being a homeowner may increase your odds for approval since this indicate there's a collateral they can go after to mitigate risk. I was hoping to find someone who went they this before

If you paid off the entire amount owed and not a settlement for less than the full amount that tends to reduce the amount of time spent on the blacklist.

Co-branded cards like the Schwab Investor are issued by AENB (American Express National Bank, so AMEX) so wouldn't be available if you are blacklisted. Cards from other issuers that only use the AMEX payment network like the Navy Federal More Rewards card wouldn't be impacted by an AMEX blacklist, but their approval also doesn't mean that AMEX has removed one from their blacklist.

Re: Amex Gold defaulted + 7 years off my credit report

coldfusion — Wed, 11 May 2022 13:47:49 GMT

@pytyty wrote:
This is very helpful, what do you think of my thoughts on my reply to the user above yours?

TL;DR - if you want the card go ahead and apply. It's been 7 years, it wasn't a huge amount, and you paid off the debt in full.

If you're denied without a hard pull you're still on the blacklist. If that were the case you could try applying again every 6 months to see if you've been removed from the blacklist. If denied after a hard pull at least you'll know you aren't on the blacklist.

If denied, there is the possiblity that American Express will reach out to you and offer an Optima card. Up to you if you wanted to accept it, having one is sort of like being on a probationary period with them with which positive results leads to a positive long term outcome.

Re: Amex Gold defaulted + 7 years off my credit report

pytyty — Wed, 11 May 2022 14:04:56 GMT

Very valuable comment, appreciate it.

Re: Amex Gold defaulted + 7 years off my credit report

KJinNC — Wed, 11 May 2022 17:16:55 GMT

I think it's worth applying, if you want the card. Three possible outcomes:

1 - Denied with no HP. This means you are on their blacklist. But it doesn't hurt your credit, and at least you know.

2 - Denied with HP. This means you are not on their blacklist, but, you don't get the card and you do get the small scoring ding associated with a fresh HP.

3 - Approved with HP. If you want the card, this is presumably worth it.

The fact that you paid it off, albeit late, makes me think you may not be blacklisted. JMO, good luck!

Re: Amex Gold defaulted + 7 years off my credit report

pytyty — Wed, 11 May 2022 18:08:16 GMT

I will apply but for a different card, I'm no longer elegible for the welcome bonus of the green/gold/gold rewards. I will update with the outcome

Re: Amex Gold defaulted + 7 years off my credit report

MarkintheHV — Thu, 12 May 2022 00:13:48 GMT

I burned Amex in BK back in 2011. I applied on a hunch, and got approved for Amex gold and Delta gold. I stayed on the blacklist for 11 years. I had tried about 6 months ago and they referred me to one of the sub prime card issuers.

Re: Amex Gold defaulted + 7 years off my credit report

pytyty — Thu, 12 May 2022 00:14:40 GMT

Sweet congrats, thanks for the feedback

Re: Amex Gold defaulted + 7 years off my credit report

pytyty — Mon, 16 Oct 2023 16:44:33 GMT

Update:

I was approved instantly for the Charles Swchab Platinum Card, 100k MR points came with the offer.
I later called Amex and the agent told me that o was never blacklisted since I paid in full the balance in the gold card I burnt, more over, She explained briefly that the reason I was declined in the past was due to 2 derogatory marks I had in file at the moment I applied.
hope this late update helps.