topic Re: Amex card 9y after BK? in Credit Cards

Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 07:47:25 GMT

Could anyone help with advice on whether to bother applying for any type of AMEX? I was considering the SPG Amex for the hotel benefits. May also want a Gold or Platinum again.

in 2008 I filed chapter 7 in which an AMEX OPEN business card was included. IIRC it had a balance of $5-7k. I also had an AMEX Platinum at the time which had always been current for ~20 years.. The business, a medical practice, went BK and took me with it. They cancelled my Platinum card even though it had always been current since the 1980s.

Today I have 2 VISA (local bank) and 1 MC (Capital One) with credit lines of 15k/15k/10k (all over 5 years old and I use $4-8k at any given time), a 2 y/o 15-yr home mort (payment $3800/ mo, balance $375k), a 60k HELOC (max $63k), a Wells Fargo LOC of $150k with $0 balance. Also have Porsche lease of $1000/ month since 2015.

My FICO score is 777 last month and my Mint app credit check says 724...not sure why they’re so different. The credit report lists only the BK (on all three agencies) discharged in Jan 2009. There are no other derogatory records, no late payments. Income is over $500k yearly.

Is AMEX likely to deny me a card at this point? Would the SPG be ‘easier’ to get than a gold or platinum? Because of my bk history any credit application makes me nervous, but particularly Amex given all I have read about their blacklisting.

Also at what point can I get the agencies to remove the BK reporting? I filed in Oct 2008 and the discharge was Jan 2009.

Thank you, I appreciate any advice!

Re: Amex card 9y after BK?

Ardecko — Sun, 11 Feb 2018 08:00:14 GMT

If you search around here for AMEX blacklist, you should find reports from people in similar situations.

I think what I remember reading is, if you are on a blacklist, they will immediately deny you, without doing the hard pull. If that's the case, you have nothing to lose by trying.

Do you get prequals?

Re: Amex card 9y after BK?

RicHowe — Sun, 11 Feb 2018 14:39:58 GMT

You are eligible for AMEX 5 years and 1 Month post BK filling, so you are good to apply.

Both SPG and charge cards have more relaxed underwriting. App for SPG first, then if approved. Apply for Platinum the same day.

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 15:22:56 GMT

No prequals from Amex but plenty from others.

Re: Amex card 9y after BK?

AverageJoesCredit — Sun, 11 Feb 2018 15:26:34 GMT

Went bk7 2007, AMEX IIB, got back in last year almost 9 years , now have 3 cards. Like said make sure your Ex is not frozen and apply for the Amex you want. If you dont get a hp , may mesn you are still on bl but i doubt that will happen. Good luck

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 16:03:18 GMT

wrote:
Could anyone help with advice on whether to bother applying for any type of AMEX? I was considering the SPG Amex for the hotel benefits. May also want a Gold or Platinum again.

in 2008 I filed chapter 7 in which an AMEX OPEN business card was included. IIRC it had a balance of $5-7k. I also had an AMEX Platinum at the time which had always been current for ~20 years.. The business, a medical practice, went BK and took me with it. They cancelled my Platinum card even though it had always been current since the 1980s.

Today I have 2 VISA (local bank) and 1 MC (Capital One) with credit lines of 15k/15k/10k (all over 5 years old and I use $4-8k at any given time), a 2 y/o 15-yr home mort (payment $3800/ mo, balance $375k), a 60k HELOC (max $63k), a Wells Fargo LOC of $150k with $0 balance. Also have Porsche lease of $1000/ month since 2015.

My FICO score is 777 last month and my Mint app credit check says 724...not sure why they’re so different. The credit report lists only the BK (on all three agencies) discharged in Jan 2009. There are no other derogatory records, no late payments. Income is over $500k yearly.

Is AMEX likely to deny me a card at this point? Would the SPG be ‘easier’ to get than a gold or platinum? Because of my bk history any credit application makes me nervous, but particularly Amex given all I have read about their blacklisting.

Also at what point can I get the agencies to remove the BK reporting? I filed in Oct 2008 and the discharge was Jan 2009.

Thank you, I appreciate any advice!

Since you filed BK Oct. 2018, it should be removed Oct. 2018. You may be able to get it removed up to 6 months early on TU, up to 3 months on EX, usually no early removal on EQ.

The 5 years 1 month post BK is if you did not include Amex in you BK, not sure if you included them in your BK.

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 16:15:13 GMT

Thank you very much for the advice!

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 16:21:00 GMT

Also at what point can I get the agencies to remove the BK reporting? I filed in Oct 2008 and the discharge was Jan 2009.

Thank you, I appreciate any advice!
Since you filed BK Oct. 2018, it should be removed Oct. 2018. You may be able to get it removed up to 6 months early on TU, up to 3 months on EX, usually no early removal on EQ.

The 5 years 1 month post BK is if you did not include Amex in you BK, not sure if you included them in your BK.

Thank you!

Amex Open for business was included in the bk, but the Plat card wasn’t since there was zero balance.

Do I just send a “Goodwill letter” to the credit agencies for early bk removal or is it more complicated than that?

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 16:39:29 GMT

wrote:
Also at what point can I get the agencies to remove the BK reporting? I filed in Oct 2008 and the discharge was Jan 2009.

Thank you, I appreciate any advice!
Since you filed BK Oct. 2018, it should be removed Oct. 2018. You may be able to get it removed up to 6 months early on TU, up to 3 months on EX, usually no early removal on EQ.

The 5 years 1 month post BK is if you did not include Amex in you BK, not sure if you included them in your BK.
Thank you!

Amex Open for business was included in the bk, but the Plat card wasn’t since there was zero balance.

Do I just send a “Goodwill letter” to the credit agencies for early bk removal or is it more complicated than that?

You can dispute online using the reason 'acct is too old to be on my report.'

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 16:42:57 GMT

wrote:
You are eligible for AMEX 5 years and 1 Month post BK filling, so you are good to apply.

This typically applies if you did NOT include in BK.

Re: Amex card 9y after BK?

Anonymous — Sun, 11 Feb 2018 16:59:02 GMT

wrote:
wrote:
You are eligible for AMEX 5 years and 1 Month post BK filling, so you are good to apply.

This typically applies if you did NOT include in BK.

And what about if you DID include an AMEX business card in the BK?

Re: Amex card 9y after BK?

CreditCuriosity — Sun, 11 Feb 2018 17:26:45 GMT

Amex really varies whether or not you are on their blacklist for including them in BK (how long ago it was and the amount it was). It really depends on the amount. Having a BK on your credit report or lack of one has no bearing whether AMEX will approve you as they have their own records and people have been blacklisted for > 20 years with Amex. It appears for how much you burnt them for. So there is no guaranteed time frame on the black list, but most likely it is over the 5 years as 5 years are for people that didn't include them in their BK per Amex rule if their scores/profile are good enough for the card. As others stated keep EXP unfroozen if you don't get a pull you are still on the BL if you get a pull you aren't. If you are so inclined to pay them back which you certainly don't have to do as they were included in your BK you have a far greater chance of getting back in with them and the BL should be removed if you are. On other side of scope since you burnt them if you don't pay them back they certainly never have to lend to you again either. Best of luck however you proceed

Re: Amex card 9y after BK?

imaximous — Sun, 11 Feb 2018 17:38:38 GMT

I filed in 2011 and AmEx was included in my BK. I'm still blacklisted. I apply once and some times twice a month and get an immediate denial. A few days later, a letter arrives telling me I can't get a card because an account(s) was previously closed by them. I never get a hard pull. I actually worry one day they'll send me a cease and desist letter. Ha!

When Costco was in business with AmEx, my wife tried to add me to her card as an AU. It was weird because the request was first denied, but then she called again to confirm (more like bitch about it), and I was added to her account, so I had that card till Costco went Visa. Right before the transition, she got a gazillion offers to accept different AmEX cards, but we didn't do it because we got the Costco Visa automatically and have many other Visa cards. In all honesty, AmEx doesn't have anything that I don't get with other cards and I don't have to worry about where it's going to be accepted.
I keep applying just because I want to find out how much longer they'll have me on their blacklist. My discharged debt was significant.

Re: Amex card 9y after BK?

JR_TX — Sun, 11 Feb 2018 19:09:11 GMT

wrote:
Could anyone help with advice on whether to bother applying for any type of AMEX? I was considering the SPG Amex for the hotel benefits. May also want a Gold or Platinum again.

in 2008 I filed chapter 7 in which an AMEX OPEN business card was included. IIRC it had a balance of $5-7k. I also had an AMEX Platinum at the time which had always been current for ~20 years.. The business, a medical practice, went BK and took me with it. They cancelled my Platinum card even though it had always been current since the 1980s.

Today I have 2 VISA (local bank) and 1 MC (Capital One) with credit lines of 15k/15k/10k (all over 5 years old and I use $4-8k at any given time), a 2 y/o 15-yr home mort (payment $3800/ mo, balance $375k), a 60k HELOC (max $63k), a Wells Fargo LOC of $150k with $0 balance. Also have Porsche lease of $1000/ month since 2015.

My FICO score is 777 last month and my Mint app credit check says 724...not sure why they’re so different. The credit report lists only the BK (on all three agencies) discharged in Jan 2009. There are no other derogatory records, no late payments. Income is over $500k yearly.

Is AMEX likely to deny me a card at this point? Would the SPG be ‘easier’ to get than a gold or platinum? Because of my bk history any credit application makes me nervous, but particularly Amex given all I have read about their blacklisting.

Also at what point can I get the agencies to remove the BK reporting? I filed in Oct 2008 and the discharge was Jan 2009.

Thank you, I appreciate any advice!

Amex will Blacklist if they get burned and never paid Back anything. From the DPs I’ve gathered, 10 years is the minimum “sentence” and can go longer depending on the amount they’re burned for.

If Amex is NOT burned then it’s 5YR 1MO post file date if BK is reporting before they consider your app.

if Blacklisted then they will not do HP and just deny outright.

OP, based on your profile, your best course of action is just to go ahead and app!

There’s only two outcomes that will result from your app based on your profile;

1.0 You get approved and get an EX hp.

2.0 You get denied outright but DO NOT get any hp. (You’re on their Blacklist)

So you see it’s a zero sum game for you no matter how you cut it as you’re NOT losing anything if you do decide to app.

Best of luck and please DO keep us posted for DPs.

Re: Amex card 9y after BK?

Anonymous — Mon, 12 Feb 2018 12:44:31 GMT

To consider a somewhat different scenario, what's the best time to try for an Amex card when you've previously filed a BK (fall 2014, so 3+ years on now) but you never had anything with Amex (so obviously never had to include anything from them in the filing)? I've been checking the Amex prequal page every month or so for the past year but as yet, nothing has come up. I'm anticipating at least another few months before my next app or hard pull for CLI since I'm in a gardening phase, but Amex is one of the two cards I'd like to have to round out my portfolio (the other is a better MC than my current QS MC, which is essentially a "starter" upgrade from a plain Platinum - it says "Platinum" on the back - and probably won't see much in the way of CLI's).

Re: Amex card 9y after BK?

Anonymous — Mon, 12 Feb 2018 14:00:41 GMT

5 years and 1 month @joe.

Re: Amex card 9y after BK?

Anonymous — Wed, 14 Feb 2018 04:00:10 GMT

I very much appreciate each of your replies! What a wealth of information you have...I will use the info and let the forum know how it all turns out. Thank you again 😃!

Re: Amex card 9y after BK?

cem13 — Wed, 14 Feb 2018 05:21:33 GMT

I filed BK7 31JAN2011. I did NOT have AMEX IIB. I app'd 01FEB16 @6am EST Delta Gold (exactly 5 years and 1 DAY). Instantly approved for $5K. Went on website and hit the 3x Luv Button. Approved for $15K.

I received an offer to upgrade to Platinum on 01FEB17 for 35,000 miles. I went on the website and BEFORE loggin in, they were offering 75,000 miles per $4K spend. So I applied and was approved for $5K. I hit the Luv Button and was denied.

I called them and as I suspected, the app was a new account not an upgrade. So I took the HP for 75,000 miles. The CSR told me to not close the gold account and wait 3 months and transfer the Gold limit to the Platinum; which I did. They only would approve the Platinum to $15K and I closed the Gold.

Obviously my AAOA took a slight hit because of the new account and a HP. However, it was worth the 75,000 miles compared to to the 15,000 miles for the upgrade.

Re: Amex card 9y after BK?

Videoguy — Thu, 17 May 2018 17:33:53 GMT

@CreditCuriosity

@CreditCuriosity wrote:
Amex really varies whether or not you are on their blacklist for including them in BK (how long ago it was and the amount it was). It really depends on the amount.

Well, there is an OTHER clasification, when Amex judging people (and the time) on BL. Amex will try to determin IF the charges prior BK was intentional (card holder already know about pending BK and keep charging anyway - maybe on purpose), or if declaring BK was reasonable, acording to pre BK charging. Amex may (or will) send agent to the BK proceding, ussually to judge the prospect of possible money recovery at later time. This could happen, when BK discharge is in high amount.

If somewhere during this BK process the Amex people get feeling (feeling is good enough) of wrong doing, then degree of the Black list is accordingly higher.

That is why there is confussion obout Amex Black list retency and why some poeple get off sooner, latter or never yet......

Re: Amex card 9y after BK?

Anonymous — Thu, 17 May 2018 18:39:53 GMT

Interesting info Videoguy, where did you learn all this?