topic Re: AMEX BL / Repay in General Credit Topics

AMEX BL / Repay

Anonymous — Tue, 03 Jan 2017 18:12:16 GMT

I applied for an Amex today and a few hours later, received the email with the link to check status. The status page showed no apps so I called and asked and was routed a few times. I was told it was from a previous CO from 8 years ago. The man (supervisor who found my app) was friendly and told me I wouldn't be approved until paid and wanted to connect me to a CSR to arrange to settle it. He said it stays on my reports unlike a delinquincy with a BK which I thought was wrong because it isn't on my reports any longer. I told him "not right now, thank you."

I was wondering, if I do repay it, will the old delinquency reappear on my Credit reports because I've brought it current after 8 years?

thanks

Re: AMEX BL / Repay

gdale6 — Tue, 03 Jan 2017 18:26:50 GMT

Nope, once 7.5 yrs from the DoFD is past it can never again be put on your CRs.

Re: AMEX BL / Repay

fltireguy — Tue, 03 Jan 2017 18:38:16 GMT

It stays on your file with AMEX for a very long time though...

Re: AMEX BL / Repay

Anonymous — Tue, 03 Jan 2017 19:05:43 GMT

@fltireguy wrote:
It stays on your file with AMEX for a very long time though...

Is that the same file as my credit report?

Re: AMEX BL / Repay

Revelate — Tue, 03 Jan 2017 19:18:03 GMT

@Anonymous wrote:
@fltireguy wrote:
It stays on your file with AMEX for a very long time though...
Is that the same file as my credit report?

No, lenders keep internal records, and since storage is cheap these days I'm guessing hardly anything gets deleted from the lender record... and if it were, it probably wouldn't be the information on customers who defaulted.

Re: AMEX BL / Repay

fltireguy — Tue, 03 Jan 2017 19:18:00 GMT

Chase apparently has a long memory as well..

Re: AMEX BL / Repay

Anonymous — Tue, 03 Jan 2017 19:32:09 GMT

@Anonymous wrote:
@fltireguy wrote:
It stays on your file with AMEX for a very long time though...
Is that the same file as my credit report?

No. The credit report you are thinking of is actually three separate reports, each with a different company: Equifax, Experian, and TransUnion. The reports might have exactly the same information on them, or they might differ in some respects.

When Fltireguy refers to your file with Amex, he means Amex's private database of people who have screwed them over in the past.

Here's an analogy that may help. A given state might have laws that say a teenager can have his criminal record expunged (erased) when he turns 18. So after he is 18 it looks like he had never committed a crime as a teenager, even thought he might have been arrested many times for stealing from the local Walmart.

But just because his criminal record gets erased, that doesn't mean that this Walmart's manager's memory gets magically erased. He still remembers quite vividly the thefts that happened to his store. So he's still not going to give that kid a job as a 19 year old, because he remembers all the crap he pulled.

The kid's criminal record is like your three credit reports, a public record. The laws that govern when things fall off are like the 18 year old's record being expunged. But just because the credit reports don't show a way that you hurt Amex in the past, it doesn't mean Amex is going to forget about it.