topic Re: Amex Issue - What is best to do? in Credit Cards

Amex Issue - What is best to do?

BobbyJ — Thu, 23 Feb 2012 15:36:04 GMT

Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985. That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting.

Is it wise to let Amex know that my old closed account is being reported? I dont want to rock the boat and not sure what is best.

Thanks

Re: Amex Issue - What is best to do?

Anonymous — Thu, 23 Feb 2012 15:41:59 GMT

Never poke a sleeping bear.

Re: Amex Issue - What is best to do?

pizzadude — Thu, 23 Feb 2012 15:48:32 GMT

@BobbyJ wrote:
Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985. That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting.

Is it wise to let Amex know that my old closed account is being reported? I dont want to rock the boat and not sure what is best.

Thanks

If it a positive account I don't know why you would want to do anything to it, unless you are saying that you might want to pay it off now.

Re: Amex Issue - What is best to do?

Anonymous — Thu, 23 Feb 2012 15:58:56 GMT

I wouldn't do anything. Believe me, they already know!

Re: Amex Issue - What is best to do?

-Cain- — Thu, 23 Feb 2012 15:59:15 GMT

I don't see a reason to contact AmEx.

Re: Amex Issue - What is best to do?

Open123 — Thu, 23 Feb 2012 16:03:25 GMT

@Anonymous wrote:
I wouldn't do anything. Believe me, they already know!

Yes, they certainly do.

It's one of those things where they know, but really can't prove it (meaning documentation is incomplete). It's after SOL, so they can't really pursue it, but the amount is likely small which isn't a big deal for them.

You have two options. One, leave it alone, which is what I would do if it were a large amount. Two, if it were a relatively small amount, I'd pay it and start fresh, since there is much to be said for paying our debts in life--assuming the debt is yours and you know the amount.

While the SOL is a viable defense in court, there is no time limit on when a creditor may collect on a debt. It could be 100 years, and they can still request you pay, unless it was discharged in a BK.

Re: Amex Issue - What is best to do?

Anonymous — Thu, 23 Feb 2012 16:12:57 GMT

@BobbyJ wrote:
Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985. That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting.

Is it wise to let Amex know that my old closed account is being reported? I dont want to rock the boat and not sure what is best.

Thanks

Never tickle the tail of a sleeping dragon!

FWIW, I have a similar situation. I had an account with them from 1987 that went to a CO in 1991. That old account popped up on my EX report a couple of months before they sent me an offer to apply for a new card. The account is reporting positive, because it is long past the CRTP for derogatory information. I really don't know why they chose to report the old account, but since it's adding to my AAoA on EX, I'm certainly not going to argue. I advise the same for you -- enjoy the windfall!

And congrats on your approval!

Re: Amex Issue - What is best to do?

BobbyJ — Thu, 23 Feb 2012 16:21:21 GMT

Thanks everyone for your responses. I will just leave it alone. It will be nice to have 3 accounts reporting a 27 year history each rather than just 2. My AAOA already has increased from 3 years 8 months to 4 years 7 months with just this one reporting. Cant wait for the other 2 backdated accounts to report. This forum is great!!!!!

Re: Amex Issue - What is best to do?

pizzadude — Thu, 23 Feb 2012 16:46:36 GMT

@BobbyJ wrote:
Thanks everyone for your responses. I will just leave it alone. It will be nice to have 3 accounts reporting a 27 year history each rather than just 2. My AAOA already has increased from 3 years 8 months to 4 years 7 months with just this one reporting. Cant wait for the other 2 backdated accounts to report. This forum is great!!!!!

Good idea ~ and congrats on the backdating, having your other two AMEX cards reporting will most certainly help your AAoA !!

Re: Amex Issue - What is best to do?

Anonymous — Thu, 23 Feb 2012 16:55:58 GMT

@BobbyJ wrote:
Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985. That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting.

Is it wise to let Amex know that my old closed account is being reported? I dont want to rock the boat and not sure what is best.

Thanks

How do you know that it's the old account that is reporting? Is it showing a balance? Could it be that it's just one of the new cards reporting already? The new accounts will repot as opened in 1985.

Re: Amex Issue - What is best to do?

BobbyJ — Thu, 23 Feb 2012 16:58:36 GMT

The account number on the Amex account reporting is an old account number and does not match even close the my PR Gold or my Zync accts.

Re: Amex Issue - What is best to do?

BobbyJ — Thu, 23 Feb 2012 17:01:40 GMT

Hey Linson, I just found this info on the internet about that account number. Maybe Amex reports a different number string to the CRAs.

**Did the number they give you start with 37? ALL AMEX cards start with a 37, so if they gave you 3499 that is not a real number. You will become very familiar with the 3499 number because they use a separate internal number starting 3499 on statements (hidden in code) and to report to the bureaus. That is the only thing I can think of as to why it didn't work.**

Another possibilty is that AMEX uses two different CID #'s. On the back of the cards there is the traditional 3 digit CID and on the front there is a 4 digit code. I believe the 4 digit code on the front is internal (you will need it to register the card on AMEX's website for account online). I don't think a merchant has ever wanted the 4 digit code but I could be mistaken? Best to let it be for now and wait to get the card. I wouldn't be concerned if you don't have an email from Amex or a phone message.

Re: Amex Issue - What is best to do?

Anonymous — Thu, 23 Feb 2012 17:02:16 GMT

Do you know if it matches the old account? The account numbers on my credit reports don't match what's on the cards.

Re: Amex Issue - What is best to do?

Anonymous — Thu, 23 Feb 2012 17:03:23 GMT

Beat me to it

Re: Amex Issue - What is best to do?

pizzadude — Thu, 23 Feb 2012 17:04:46 GMT

@BobbyJ wrote:
The account number on the Amex account reporting is an old account number and does not match even close the my PR Gold or my Zync accts.

The AMEX "account number" that shows on your credit report is a completely different number than your actual AMEX account number. They report their own internal number, not the account number on your card.

I'm not saying that the one account showing isn't your old CO AMEX, just don't go by the account number that shows on your report.

Re: Amex Issue - What is best to do?

RyVision — Thu, 23 Feb 2012 17:23:30 GMT

Pizzadude (and probably others I may have missed) is right on that. The "account" number showing on your CR for AMEX is not the AMEX account number, it's AMEX's reference number for that account for credit reporting purposes only and will not bring up your history through a CSR (if anyone is wondering and is thinking of using it for backdating).

BobbyJ; My old AMEX from 1989 that I closed in 91ish reported on my CR's on and off for years (each report showing it, then not, back and forth etc) before I re-joined through ZYNC. It's VERY normal for AMEX to report old closed TL's LONG (if not forever) sporadically to the CRAs. No reason to worry about it or call, take the positive effect it brings and DO NOT TOUCH.

The above "DO NOT TOUCH" is for anyone noticing this. It is not an issue, it's very normal, in many cases it will probably continue to report after your death.

Re: Amex Issue - What is best to do?

BobbyJ — Thu, 23 Feb 2012 17:30:40 GMT

Thanks RyVision and Pizzadude. I am glad I asked before calling Amex.!! Very happy to have at least one of my 2 cards finally report. Hopefully the second one will report in a few days. CASE CLOSED!!!!! :-)