topic Re: AMEX Gold Card — Anyone seen this before? in Credit Card Applications

AMEX Gold Card — Anyone seen this before?

supill — Tue, 08 Oct 2024 14:57:58 GMT

Hi all,

I went to apply for an Amex Gold and received this as the reason for my denial. Some additional information, have a BK 7 on file from 2018. Amex was burned in this BK for about $1,500? Credit score is 701 - 722 across the bureaus. I was previously in a debt consolidation, however, cancelled that in the beginning of the year as I've basically just started paying off my cards in full.

So, has anyone seen this? And if so, what did you do? Did you just call to inform them you're no longer on it?

TIA.

Re: AMEX Gold Card — Anyone seen this before?

GZG — Tue, 08 Oct 2024 18:13:12 GMT

amex really doesn't like debt consolidation, loan modification, not much you're going to be able to do as long as your report still has indicators of such on your tradelines

burning them and not paying them back, I'm sure isn't helping them overlook the debt consolidation markers either

Re: AMEX Gold Card — Anyone seen this before?

Jeffster1 — Tue, 08 Oct 2024 19:30:10 GMT

@GZG wrote:
amex really doesn't like debt consolidation, loan modification, not much you're going to be able to do as long as your report still has indicators of such on your tradelines

burning them and not paying them back, I'm sure isn't helping them overlook the debt consolidation markers either

^^^THIS^^^

Burning them in the fairly recent past and not paying them back is usually enough for Amex to blacklist someone for years. If they pulled the OP's credit, however, s/he most probably is not blacklisted but the fact that s/he was again in financial trouble so soon would definitely be enough to scare Amex off for years to come.

Re: AMEX Gold Card — Anyone seen this before?

pip3man — Mon, 14 Oct 2024 12:19:35 GMT

@supill like everyone already pointed out, although you may have canceled your debt consolidation program, however the accounts that were included in the plan may still have the participation indicators which is almost always a red flag to any creditor. Usually before you enroll in these programs, there is a disclosure in the fine prints that says enrolling may have an adverse impact on your credit rating and may result in other adverse action by creditors. Unfortunately this is the one of the consequences of voluntarily participating in those services as opposed to directly doing the same negotiation yourself that these 3rd party companies typically do with ur creditors.

Re: AMEX Gold Card — Anyone seen this before?

RickNATL — Sat, 19 Oct 2024 03:38:10 GMT

You are going to have to wait that out esp. since it's so recent.