topic Re: Burned Amex in 2016, approved for creditOne Amex, is it real? in Bankruptcy

Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Sun, 21 Nov 2021 01:09:03 GMT

I burned American Express for over $10,000 back in 2016, one delta Amex and one Hilton Amex.

Just applied and was approved for the CreditOne American Express. My question is: is this a real American Express? Am I actually an Amex customer/member again?

Also, my recovery is going really well, scores are climbing and I am getting approved for everything and getting line increases as well.

Thanks for any of your answers.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Sun, 21 Nov 2021 01:10:30 GMT

I would also like to add that this card has an annual fee and I think they only gave me a $1000 limit.

If the card is not worth it, and isn't a real Amex, I can just not activate it and cancel it.

It just shipped today, they tell me.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

rostrow416 — Sun, 21 Nov 2021 01:29:14 GMT

It runs on the Amex network but is issued by Credit One bank not American Express.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

jmw1 — Sun, 21 Nov 2021 01:53:09 GMT

@Hockeypnc1 wrote:
I burned American Express for over $10,000 back in 2016, one delta Amex and one Hilton Amex.

Just applied and was approved for the CreditOne American Express. My question is: is this a real American Express? Am I actually an Amex customer/member again?

Also, my recovery is going really well, scores are climbing and I am getting approved for everything and getting line increases as well.

Thanks for any of your answers.

You are not an Amex customer. You are a Credit One customer (a predatory lender). It's a Credit One account run through the Amex payment network.

Post-BK, it's easy to get approved by rebuild/predatory lenders. It's hard to get approved with the big lenders until the BK falls off. It's nearly impossible to get approved by anyone your burned in the BK. In Amex's case, you are probably banned for life like a lot of us unless you repay the entire $10k+ you burned. It's ok... it's not hard to live without Amex for the rest of your life.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Sun, 21 Nov 2021 01:58:17 GMT

I also burned CitiBank for over $15,000 but now I have the following products from Citi:

Goodyear Citi card (only capable of auto/gas purchases: $1200 limit

BestBuy Citi Visa (a full blown Visa, not just bestBuy): $2000 limit

Shell Citi Mastercard (a full blown MC, not just Shell): $2000 limit

If the CreditOne Amex isn't a real Amex I won't accept the terms and won't activate it. It's not worth the fee, and yes I know CreditOne is famous for being a "predatory" lender/card issuer.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

FireMedic1 — Sun, 21 Nov 2021 12:49:53 GMT

@Hockeypnc1 wrote:
I also burned CitiBank for over $15,000 but now I have the following products from Citi:

Goodyear Citi card (only capable of auto/gas purchases: $1200 limit
BestBuy Citi Visa (a full blown Visa, not just bestBuy): $2000 limit
Shell Citi Mastercard (a full blown MC, not just Shell): $2000 limit

If the CreditOne Amex isn't a real Amex I won't accept the terms and won't activate it. It's not worth the fee, and yes I know CreditOne is famous for being a "predatory" lender/card issuer.

Again Citi as AMEX just services the card. Its not a real Citi card. I have a Chase auto loan but cant get a card due to BK. Makes no sense but dont care. Home Depot is serviced by Citi and they wont give me a card also due to BK. Keep it open right before the next annual fee. Build some history with it. Your not going to get high limits until baddies fall off and scores go up. Pass the 700 club and things get a bit easier.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Sun, 21 Nov 2021 14:48:24 GMT

Equifax has me in the 744 club

Transunion and Experian have me around 650.

oh well!

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Guyatthebeach — Sun, 21 Nov 2021 16:33:35 GMT

Hockeypnc1,

The CreditOne Amex is simply nothing more than a subprime lender credit that uses the Amex system. The closest thing I've seen to a real Amex card is the Macy American Express. It has reward offers just like Amex and offers some of the travel benefits of Amex. In the end it's just a Citi Retail card on the Amex platform, with new nice free benefits.

Hope that helps.

Guyatthebeach

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Sun, 21 Nov 2021 16:37:22 GMT

So, what I am hearing from all of you is that I am still on the "ban list" from Amex and this is NOT a real Amex card?

Meaning I am NOT a proud member of American Express and all its awesome benefits?

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Kasuito39 — Sun, 21 Nov 2021 17:06:18 GMT

@Hockeypnc1 yes that's correct. Amex is a no go zone for all of us that burned them for a while. Here is an example, I was recently added as Authorized User by a family member and they approved and I received my card. However, after using the card twice on two separate occassions, the primary user was notified by Amex that my card will be closed due to "past derogatory history". I burned Amex in 2017.

For Citi, it depends because I've been an authorized user for the double citi card for over 15 months with no issues and I burned citi in 2017 as well.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Guyatthebeach — Sun, 21 Nov 2021 17:12:22 GMT

Hockeypnc1,

That is correct. With the CreditOne, Dillard's, and Macy's American Express, you are not a Member of AMex. You are simply using their system for charges. I looked at my Macy Amex and it says card member since 2018. On my Amazon Amex and on my Cash back Amex, it says member since 2016 on both of them.

I don't know what rewards are on the CreditOne Amex, but I do know the Macy's Amex has some rewards and some travel benefits.

Guyatthebeach

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

chalupaman — Mon, 22 Nov 2021 22:49:13 GMT

That's the thing. There are some cards like Macy's that use the Amex network but aren't issued by Amex themselves. The Credit One card is another such case of this. With Amex themselves even if you didn't burn them and you have a BK, it's best to wait at least 5 years and then see what happens. Best of luck to you!

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Mon, 22 Nov 2021 23:05:46 GMT

I guess it has been almost exactly 5 years

bK was fall of 2016

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

FinStar — Tue, 23 Nov 2021 07:17:41 GMT

@Hockeypnc1 wrote:
I guess it has been almost exactly 5 years
bK was fall of 2016

@Hockeypnc1

Unfortunately, since AENB was included in your BK, you'll be on the blacklist for a very long time. The 5-year timeframe mentioned above applies only to individuals who still have a BK on reports, but did not include AENB in their BK. So, at best, you're looking at possibly ~10 years (maybe longer) to try your odds. When you apply, there will not be HP (or SP) if it turns out you are still on their BL.

As far as not activating the Credit One AmEx card, if you do not intend to use it, then be sure to close it so you're not billed the AF. Just keep in mind that the card will still report to the CRAs regardless whether you activate it or not.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

yodi2007 — Tue, 04 Jan 2022 04:09:25 GMT

I burned Capitol One Auto loan (I kept the car, but they received no interest for the last 3 years on the car), Capitol One Credit Card for 2k, and I burned Wells Fargo Loan for 9k! Yet Capitol One just sent me an invite and forgave my past for burning them, but I declined the offer. Wells Fargo may laugh at me, especially since I'm going to be looking for mortgage soon through manual underwrite (Broker). I have two Amex cards they gave me while in Chapter 13, but I didn't burn them!

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

CWESTL — Wed, 05 Jan 2022 06:14:42 GMT

The CreditOne AMEX is definitely not an AMEX issued card. I'd suggest visiting americanexpress.com to view AMEX issued personal and business credit cards. Strengthening your credit file over a period of time will increase your odds of an AMEX issued card approval. Where possible, I'd steer away from credit cards with subprime lenders or annual fees. The following has been my AMEX experience as previously noted in a separate post.

I shared the below in a different response to a post in April 2021. Since the below post my AMEX Cash Magnet CL has increased another $6K to a total CL of $26K. I burned AMEX in my BK and did not repay the discharged debt.

American Express has been a great credit card issuer especially considering I included AMEX in my 2013 Chapter 7 BK for approximately $10K. Was happy to be approved for the AMEX Cash Magnet approximately 22 months ago (5 years 4 months post DC) with a SL of $10K and 0% APR for 12 months. Was approved for an AMEX Lowes Business Card in November 2020 without a credit inquiry. In December 2020 I went online and was approved for a $10K CLI on my AMEX Cash Magnet card without a credit inquiry. New CL is $20K!!!

Not exactly sure the threshold AMEX uses for opening the door again, but I did NOT pay off the old debt that was discharged in 2013. However, I was an AMEX cardholder since 1997 in good standing for more than 10 years before the financial crisis of 2008. The debt was finally discharge in my 2013 Chapter 7 BK. I also have a healthy income.

Discover was my challenge as my Discover It card approval was met with a small SL of $2000 and only a $500 CLI over a couple years. I was told by Discover representatives my prior Discover card discharge of approximately $8K/$9K wouldn't allow for my card to grow. This was true until a month or two ago when I was approved for a second Discover It with a SL of $9500 and 0% APR for 14 months and an increased CL on my initial Discover It to $5K.

At some point in the future would like to reconnect with Citibank, Chase and BOA. . . I believe all but Chase were included in my 2013 Chapter 7 discharge.

Seems each has a variable look back and criteria for reentry.

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1 — Wed, 05 Jan 2022 06:19:16 GMT

Wow!!

your story gives me hope

I burned Amex for about 11,500 in fall of 2016, so it seems like a similar time line to yours.

Since then I have gotten into the 700s on Equifax and have several credit cards with big limits

A penFed with 17.5k limit

UW credit union with 20k limit