topic Re: Amex and Bankruptcy Policy...Can anyone help with this question? in Credit Cards

Amex and Bankruptcy Policy...Can anyone help with this question?

kimmiller112 — Tue, 15 Oct 2013 19:30:07 GMT

I am closing on a house on Friday and am planning an app spree. I was told by Amex more than a year ago when I apped for a card that they won't consider an applicant if their bankruptcy is less than 8 years old. I filed for bankruptcy October 2005 and it was discharged February 2006. Originally, I was going to wait until summer of 2014 before applying for Amex. But, as I was thinking of what cards I want to add to what I have and what cards I want to ask for increases on, I got to thinking about Amex and their bankruptcy policy. I'm wondering if Amex considers the 8 years based on the filing date or discharge date? Would they even know what the discharge date is because it is the month that it was filed that shows up on my credit reports? Do they add on a few months considering the process that bankruptcy takes?

Have any of you Amex card holders apped with a bankruptcy on your reports? How old was your bankruptcy?

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

09Lexie — Tue, 15 Oct 2013 19:32:08 GMT

Are you sure your discharge date is not showing?

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

Creditaddict — Tue, 15 Oct 2013 19:36:17 GMT

I don't think 8 years is set in stone but it is rare when we do see earlier.... I would test the waters with a Gold Rewards Premier Charge Card... if successful and you really were looking for Blue Cash Preferred or something, then go ahead and apply at same time but if Charge Card is declined then you know you probably need to wait until at least 8 years.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

FinStar — Tue, 15 Oct 2013 19:44:37 GMT

@09Lexie wrote:
Are you sure your discharge date is not showing?

It should display such information under the PR section of your individual CRs. As far as AMEX goes, until the BK falls off your CRs, it's going to be a denial the majority of the time. AMEX is not your typical BK-friendly lender. You can always exercise your luck since some folks may/can fall through the cracks, but then again, YEMV.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

kimmiller112 — Tue, 15 Oct 2013 19:48:29 GMT

@09Lexie, all three reports that I get on here do not have discharge date listed, they only say that it was discharged. One lists filing date as October 2005 and the other two lists filing date as October 14, 2005.

@Creditaddict - thanks for the suggestion. I think I will try it that way since BCP is what I want with them.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

kimmiller112 — Tue, 15 Oct 2013 19:53:05 GMT

@FinStar wrote:
@09Lexie wrote:
Are you sure your discharge date is not showing?
+1

It should display such information under the PR section of your individual CRs. As far as AMEX goes, until the BK falls off your CRs, it's going to be a denial the majority of the time. AMEX is not your typical BK-friendly lender. You can always exercise your luck since some folks may/can fall through the cracks, but then again, YEMV.

Just says discharged with no date listed on all three. I know customer service isn't always accurate, but I had two different reps tell me 8 years was the target amount of time for them. I've got between now and Friday to decide if they are going to be on my spree list, so perhaps I'll get some feedback from others who had success. Thanks for the input!!!

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

09Lexie — Tue, 15 Oct 2013 20:16:09 GMT

Reports from CMS' do not show detailed information. Your actual reports from the 3 CRAs will show a discharge and/or dismissed date.

It's a hit if miss on the bk less than 8 yrs.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

kimmiller112 — Tue, 15 Oct 2013 20:37:16 GMT

@09Lexie wrote:
Reports from CMS' do not show detailed information. Your actual reports from the 3 CRAs will show a discharge and/or dismissed date.

It's a hit if miss on the bk less than 8 yrs.

Thanks for the info! I think I will wait until next fall to try.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

Repsol — Tue, 15 Oct 2013 22:47:13 GMT

I applied for my first Amex card (BCE) his past Friday and was approved for $6k. Had a bk with a discharge date of May 2006. Not sure what my current fico is, but my CK score is 719, and utilization is currently at 2%.

App'd for a Discover IT same day and was approved also.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

Anonymous — Wed, 16 Oct 2013 12:08:14 GMT

I had a Chapter 7 Bankruptcy in August 2004 and Amex was included. I was approved for BCE and Delta Gold in August 2013. Guess 9 years was enough to forgive me

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

OnTheRebound — Wed, 16 Oct 2013 18:28:44 GMT

In my wife's case, as long as her BK was reporting, Amex wanted nothing to do with her. I know. I tried 3 times and each time was an instant denial, citing BK. A few months after the BK disappeared I tried again and was instantly approved. This was a few years ago. Things may be different now.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

hockeymom2119 — Sun, 10 Nov 2013 17:15:22 GMT

For those of you who were approved after a BK, was AMEX included in your BK and they still approved you for a new card? My BK was over 12 years ago and included AMEX. I have wanted to apply with them again, but always thought they would deny based on past history with them. Is there an AMEX card with better chances of getting approved?

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

Creditaddict — Sun, 10 Nov 2013 18:02:32 GMT

@hockeymom2119 wrote:
For those of you who were approved after a BK, was AMEX included in your BK and they still approved you for a new card? My BK was over 12 years ago and included AMEX. I have wanted to apply with them again, but always thought they would deny based on past history with them. Is there an AMEX card with better chances of getting approved?

in the past if denied for blacklist it would instantly decline the app and would not pull credit.

Re: Amex and Bankruptcy Policy...Can anyone help with this question?

Anonymous — Sun, 10 Nov 2013 18:10:12 GMT

@hockeymom, the charge cards are easier to get. Its hard to tell whether you are still blacklisted without you applying.