topic Re: Amex Collection in Rebuilding Your Credit

Amex Collection

JaayC5 — Wed, 08 Jun 2022 04:18:32 GMT

Hello,

About 5 years ago I ended up defaulting on my Amex card, just flat out stopped paying it due to being young and dumb. I'm in a position now where I can and want to pay off the debt completely. It is only about 2k. I hope to get back into the Amex card system as they offer some great cards. My question is when I call them up to pay, can I use one of a current credit card to pay off the balance? Or will Amex only take a bank account for payment? My wife is working towards a new card welcome bonus (not Amex) and the 2k charge would put her over the mark.

Re: Amex Collection

OmarGB9 — Wed, 08 Jun 2022 04:40:45 GMT

I don't have any personal experience with your situation, but generally OCs/CAs don't accept credit cards as payment on another credit card account.

Re: Amex Collection

NaimeseOGK — Thu, 09 Jun 2022 00:20:15 GMT

They're going to want a payment from a bank account. Generally its not wise to pay debt with a credit card that will cause more debt but I get what your trying to do.

Re: Amex Collection

jrwa81 — Thu, 09 Jun 2022 02:36:59 GMT

Never create more debt to pay off another debt. This is how people get into trouble. Using a credit card will only make your utilization sky rocket, which will really hurt your credit scores and then you will be left having to pay off that card. Not a smart move.

And, no, they will not accept a credit card. It would need to be paid with a bank account.

Re: Amex Collection

JaayC5 — Thu, 09 Jun 2022 02:32:47 GMT

Thanks @OmarGB9 @NaimeseOGK @jrwa81. I appreciate the answers. I have the cash to pay the old Amex account but wanted to take advantage of the extra $2k in points/bonus. I'll get ahold of Amex and soon enough I hope to be back in their good graces. Another quick question, I'm new to this site. Just made my account the day I posted the question. How do I display my current cards like some of you all do?

Re: Amex Collection

FireMedic1 — Thu, 09 Jun 2022 08:55:41 GMT

Once the "New" badge is gone. Need a few more posts. The signature will open up. You'll start with the Optima card to prove yourself again after the invitation..

Re: Amex Collection

JaayC5 — Thu, 09 Jun 2022 12:38:48 GMT

Thanks, and yeah I figured the Optima is the path back in. I'm up for it. I'm just worried Amex is going to want to see a lot of usage on the card. Since the Optima doesn't earn any rewards and I have cards that do, that's gonna suck. But I guess it's my fault for putting myself in the spot, I'll do it like a champ.

Re: Amex Collection

lexi_7170 — Tue, 09 Aug 2022 17:08:24 GMT

I defaulted on my Amex in November 2017 for $3900. For years, I ignored the debt, but last year finally was in a place where I wanted to address and take care of this debt. Based on reading other users experiences from this forum, I decided not to agree to a debt settlement and PIF instead. I had an older letter from American Express Global Collections and tried calling that number and had a difficult time reaching some to set repayment. I think I also contacted some random number on Amex website.

On 7/21/21, I reached out and eventually after calling a few more times I was rerouted to a representative at Amex Global Collections. This person was my primary contact whenever I called. I was very direct in that I wanted to PIF and wanted to pay $200 over a 20 month period. The process was fairly straightforward he was willing to work with me on a payment plan based on what I felt I could contribute; however, he did push for a 12 month as opposed to a 20 month repayment period.

I requested email confirmation of the account balance and payment schedule with the number of payments, payment date, and payment amount. I received email confirmation before the 1st payment which was debited from my checking out account on 7/23/21.

Every month one week prior to the payment date I received an email notice of the upcoming withdrawal.

I did have to provide access to my bank routing and checking #. I paid the remaining balance off last Thursday seven months earlier than I expected.

PIF made more sense to me because eventually I know I would like to obtain an Amex and the odds of approval are lower if not.

For reference, my FICO 8 Experian 689, Equifax 708, Transunion 705.

Hope this helps.

Re: Amex Collection

sjt — Tue, 06 Sep 2022 05:12:04 GMT

Amex wont accept credit cards for payments. Also, you should see if you can get your Amex card reinstated for payment.

Re: Amex Collection

OmarGB9 — Tue, 06 Sep 2022 05:50:13 GMT

@sjt wrote:
Amex wont accept credit cards for payments. Also, you should see if you can get your Amex card reinstated for payment.

Yes this is an old thread.

Re: Amex Collection

JaayC5 — Sat, 10 Sep 2022 05:17:45 GMT

**Update**
An update for all of you. Just for info. I appreciate all of the guidance from you all. I called and paid off the Amex collection about two weeks after my intial post. They only accepted a bank account for payment, so no credit cards (we still got our bonus on my wife's card).

After the payment was made, I did get the run around and transferred a bunch when I inquired about an Optima card application, to get back in Amex's good graces. Eventually I did speak with a very helpful lady. She basically told me everything I needed to know. My old card was permanently closed and could not be reopened. Amex has stopped doing new optima cards, at least for the time being (possible they start again). But she encouraged me to allow about 60 days to pass and to just try applying for a new Amex card.

Today, I found myself on the Amex website and happened to see the ad for worry free application. Apply for the card, they will tell you if they will approve you and if they don't, NO HARD INQUIRY. I decided I had nothing to lose. So I went straight to the Amex Platinum and submitted my application. Immediate Approval! I was pretty surprised, and even thought it may be a fluke. Amex would realize their mistake within a few minutes and email me, but no. I was able to add the card to my Apple Pay and have already made a few purchases today.

I hope anyone who finds this thread, finds it at least a little helpful if they are in the same boat. Getting back into Amex's good graces is possible!

Thanks everyone!

Re: Amex Collection

OmarGB9 — Sat, 10 Sep 2022 09:19:33 GMT

@JaayC5 wrote:
**Update**
An update for all of you. Just for info. I appreciate all of the guidance from you all. I called and paid off the Amex collection about two weeks after my intial post. They only accepted a bank account for payment, so no credit cards (we still got our bonus on my wife's card).

After the payment was made, I did get the run around and transferred a bunch when I inquired about an Optima card application, to get back in Amex's good graces. Eventually I did speak with a very helpful lady. She basically told me everything I needed to know. My old card was permanently closed and could not be reopened. Amex has stopped doing new optima cards, at least for the time being (possible they start again). But she encouraged me to allow about 60 days to pass and to just try applying for a new Amex card.

Today, I found myself on the Amex website and happened to see the ad for worry free application. Apply for the card, they will tell you if they will approve you and if they don't, NO HARD INQUIRY. I decided I had nothing to lose. So I went straight to the Amex Platinum and submitted my application. Immediate Approval! I was pretty surprised, and even thought it may be a fluke. Amex would realize their mistake within a few minutes and email me, but no. I was able to add the card to my Apple Pay and have already made a few purchases today.

I hope anyone who finds this thread, finds it at least a little helpful if they are in the same boat. Getting back into Amex's good graces is possible!

Thanks everyone!

Congrats on paying off your debt and getting a new AMEX!