topic Re: Am I clear with Amex? in Credit Cards

Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 01:04:50 GMT

I had an old charged off account with Amex from 2005 or so. I paid them back few months ago for full amount...$240 or so. I applied for their business credit and was denied. They pulled my EX. I've read somewhere here if you are blacklisted with Amex and you get denied, your credit will not get pulled. So...am I good to go with Amex as we speak? I am not planning to app with them at least until second half of 2016. Thanks guys

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 01:21:53 GMT

they hold long grudges

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 01:40:55 GMT

NOPE!

Plus an old rule of thumb. Paying an old charged off account unless it is pay for delete, will update the delinquency on your bureaus. NEVER DO IT. It was already 10 years old.

Plus your scores are low, upper 600's best bet for Am Ex approvals.700+ Ex for better limits.

I would give up on Am Ex, raise your scores 50 points, and try the co-branded Am Ex route.

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 01:56:34 GMT

@Anonymous wrote:
NOPE!

Plus an old rule of thumb. Paying an old charged off account unless it is pay for delete, will update the delinquency on your bureaus. NEVER DO IT. It was already 10 years old.

Plus your scores are low, upper 600's best bet for Am Ex approvals.700+ Ex for better limits.

I would give up on Am Ex, raise your scores 50 points, and try the co-branded Am Ex route.

I paid it just in case I would decide to get an Amex down the road. I made sure it wasnt going to show up on my report once I paid it. Thanks for the info!

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 02:11:51 GMT

If that is the case a 10 year old account shouldn't be on your bureaus anyway unless several collection agencies passed it along.

Hang in there. You can work around this with co branded cards. Just fine tune your bureaus.

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 02:18:04 GMT

@Anonymous wrote:
If that is the case a 10 year old account shouldn't be on your bureaus anyway unless several collection agencies passed it along.

Hang in there. You can work around this with co branded cards. Just fine tune your bureaus.

Will do. You're right..co-branded is way to ago. Thanks again chief

Re: Am I clear with Amex?

takeshi74 — Mon, 09 Nov 2015 13:46:58 GMT

@Anonymous wrote:
NOPE!

Te question wasn't "will I get approved?". The question was "am I off their blacklist?". If they're bothering to pull then the OP is probably off the blacklist.

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 13:56:02 GMT

OP, since you paid in full, you should be able to get a card soon as your credit profile supports it.

I had an 8k charge off that I paid in full this summer. I was approved for a PRG a little over a month after payment.

Good luck!

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 17:47:44 GMT

@Anonymous wrote:
OP, since you paid in full, you should be able to get a card soon as your credit profile supports it.

I had an 8k charge off that I paid in full this summer. I was approved for a PRG a little over a month after payment.

Good luck!

Thanks. That's what I was wanting to know!

Re: Am I clear with Amex?

sjt — Mon, 09 Nov 2015 17:59:58 GMT

@Anonymous wrote:
NOPE!

Plus an old rule of thumb. Paying an old charged off account unless it is pay for delete, will update the delinquency on your bureaus. NEVER DO IT. It was already 10 years old.

Plus your scores are low, upper 600's best bet for Am Ex approvals.700+ Ex for better limits.

I would give up on Am Ex, raise your scores 50 points, and try the co-branded Am Ex route.

If the OC still owns the debt chances are they are reporting monthly which will supress your score. When you pay them they report it as zero and stop monthly reporting, so in the case of paying a CO when the OC still owns it, it does help when you pay them.

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 18:01:08 GMT

Yeah definitely off the blacklist. Not sure what your score is but get it at least mid 600s. Upper 600s even better but a friend just got an Amex with a 640 after paying Amex back.

Re: Am I clear with Amex?

sjt — Mon, 09 Nov 2015 18:04:21 GMT

@Anonymous wrote:
Yeah definitely off the blacklist. Not sure what your score is but get it at least mid 600s. Upper 600s even better but a friend just got an Amex with a 640 after paying Amex back.

Also, Amex also uses their own internal scoring system to help determine the approval process. Charge cards are easier to get approval.

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 20:51:09 GMT

EX is currently 614 and expecting a bump once they update a removed colection and lower util ratios.

@Anonymous wrote:
Yeah definitely off the blacklist. Not sure what your score is but get it at least mid 600s. Upper 600s even better but a friend just got an Amex with a 640 after paying Amex back.

Re: Am I clear with Amex?

SunriseEarth — Mon, 09 Nov 2015 21:49:55 GMT

@Anonymous wrote:
@Anonymous wrote:
NOPE!

Plus an old rule of thumb. Paying an old charged off account unless it is pay for delete, will update the delinquency on your bureaus. NEVER DO IT. It was already 10 years old.

Plus your scores are low, upper 600's best bet for Am Ex approvals.700+ Ex for better limits.

I would give up on Am Ex, raise your scores 50 points, and try the co-branded Am Ex route.
I paid it just in case I would decide to get an Amex down the road. I made sure it wasnt going to show up on my report once I paid it. Thanks for the info!

It can't. You're definitely past the date of exclusion. For such a low amount, I think paying off the CO was a wise decision. Most likely, the denial is due to your overall profile and not a blacklist.

Re: Am I clear with Amex?

SunriseEarth — Mon, 09 Nov 2015 21:52:20 GMT

@Anonymous wrote:
EX is currently 614 and expecting a bump once they update a removed colection and lower util ratios.
@Anonymous wrote:
Yeah definitely off the blacklist. Not sure what your score is but get it at least mid 600s. Upper 600s even better but a friend just got an Amex with a 640 after paying Amex back.

Yep...it's your overall credit profile. Get UTIL way down, since AMEX is favorable toward low UTIL. Hopefully the collection leaving your CRs will result in a significant score boost, too. You'll want to aim for high 600s for AMEX consideration. Good luck! Sounds like you're on the way!

Re: Am I clear with Amex?

pizza1 — Mon, 09 Nov 2015 21:55:33 GMT

@Anonymous wrote:
EX is currently 614 and expecting a bump once they update a removed colection and lower util ratios.
@Anonymous wrote:
Yeah definitely off the blacklist. Not sure what your score is but get it at least mid 600s. Upper 600s even better but a friend just got an Amex with a 640 after paying Amex back.

oh yea...your EX is WAY too low for approval. But you did the right thing by paying it! If it were me...I would try to squeak out an approval of that app by contacting the EO.. I can PM the info if needed!! you never know!!! Also recon a denial, even if you or anyone else thinks you dont have a chance! you may not, but you never know!!

Re: Am I clear with Amex?

CreditCuriosity — Mon, 09 Nov 2015 21:57:33 GMT

You did the right thing paying it if you want a good shot of getting in with Amex. It is your score that isn't letting you back in at this point as others have stated once you are closer to 650-670ish I think you will have a good shot. The charge-off might be off your CR, but Amex still has it in their computer systems, so getting back with Amex as stated you did the right thing by paying what you owed them and they realize this.

Re: Am I clear with Amex?

Anonymous — Mon, 09 Nov 2015 23:47:18 GMT

@CreditCuriousity wrote:
You did the right thing paying it if you want a good shot of getting in with Amex. It is your score that isn't letting you back in at this point as others have stated once you are closer to 650-670ish I think you will have a good shot. The charge-off might be off your CR, but Amex still has it in their computer systems, so getting back with Amex as stated you did the right thing by paying what you owed them and they realize this.

You are absolutely right. I figured might as wel pay it and get it out of the way. I'll work on my score and should be good to go by next year as I am in no hurry to apply for a card anytime soon. Thanks.

Re: Am I clear with Amex?

Anonymous — Tue, 10 Nov 2015 03:06:14 GMT

@pizza1 wrote:
@Anonymous wrote:
EX is currently 614 and expecting a bump once they update a removed colection and lower util ratios.
@Anonymous wrote:
Yeah definitely off the blacklist. Not sure what your score is but get it at least mid 600s. Upper 600s even better but a friend just got an Amex with a 640 after paying Amex back.
I never thought about that. That would be great if you could send me that info. Pizza on me upon approval lol
oh yea...your EX is WAY too low for approval. But you did the right thing by paying it! If it were me...I would try to squeak out an approval of that app by contacting the EO.. I can PM the info if needed!! you never know!!! Also recon a denial, even if you or anyone else thinks you dont have a chance! you may not, but you never know!!