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Burned Amex in 2016, approved for creditOne Amex, is it real?

Guyatthebeach
Valued Contributor

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Hockeypnc1,

 

That is correct. With the CreditOne, Dillard's, and Macy's American Express, you are not a Member of AMex. You are simply using their system for charges. I looked at my Macy Amex and it says card member since 2018.  On my Amazon Amex and on my Cash back Amex, it says member since 2016 on both of them. 

I don't know what rewards are on the CreditOne Amex, but I do know the Macy's Amex has some rewards and some travel benefits. 

Guyatthebeach

Message 11 of 17
chalupaman
Super Contributor

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

That's the thing. There are some cards like Macy's that use the Amex network but aren't issued by Amex themselves. The Credit One card is another such case of this. With Amex themselves even if you didn't burn them and you have a BK, it's best to wait at least 5 years and then see what happens. Best of luck to you!

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 12 of 17
Hockeypnc1
Established Contributor

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

I guess it has been almost exactly 5 years

bK was fall of 2016

 

Message 13 of 17
FinStar
Moderator

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?


@Hockeypnc1 wrote:

I guess it has been almost exactly 5 years

bK was fall of 2016


@Hockeypnc1 

Unfortunately, since AENB was included in your BK, you'll be on the blacklist for a very long time.  The 5-year timeframe mentioned above applies only to individuals who still have a BK on reports, but did not include AENB in their BK. So, at best, you're looking at possibly ~10 years (maybe longer) to try your odds.  When you apply, there will not be HP (or SP) if it turns out you are still on their BL.

 

As far as not activating the Credit One AmEx card, if you do not intend to use it, then be sure to close it so you're not billed the AF. Just keep in mind that the card will still report to the CRAs regardless whether you activate it or not.

Message 14 of 17
yodi2007
Contributor

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

I burned Capitol One Auto loan (I kept the car, but they received no interest for the last 3 years on the car), Capitol One Credit Card for 2k, and I burned Wells Fargo Loan for 9k! Yet Capitol One just sent me an invite and forgave my past for burning them, but I declined the offer. Wells Fargo may laugh at me, especially since I'm going to be looking for mortgage soon through manual underwrite (Broker). I have two Amex cards they gave me while in Chapter 13, but I didn't burn them!

Message 15 of 17
CWESTL
Regular Contributor

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

The CreditOne AMEX is definitely not an AMEX issued card. I'd suggest visiting americanexpress.com to view AMEX issued personal and business credit cards. Strengthening your credit file over a period of time will increase your odds of an AMEX issued card approval. Where possible, I'd steer away from credit cards with subprime lenders or annual fees. The following has been my AMEX experience as previously noted in a separate post. 

 

I shared the below in a different response to a post in April 2021. Since the below post my AMEX Cash Magnet CL has increased another $6K to a total CL of $26K. I burned AMEX in my BK and did not repay the discharged debt. 


American Express has been a great credit card issuer especially considering I included AMEX in my 2013 Chapter 7 BK for approximately $10K. Was happy to be approved for the AMEX Cash Magnet approximately 22 months ago (5 years 4 months post DC) with a SL of $10K and 0% APR for 12 months. Was approved for an AMEX Lowes Business Card in November 2020 without a credit inquiry. In December 2020 I went online and was approved for a $10K CLI on my AMEX Cash Magnet card without a credit inquiry. New CL is $20K!!!

 

Not exactly sure the threshold AMEX uses for opening the door again, but I did NOT pay off the old debt that was discharged in 2013. However, I was an AMEX cardholder since 1997 in good standing for more than 10 years before the financial crisis of 2008. The debt was finally discharge in my 2013 Chapter 7 BK. I also have a healthy income.  

 

Discover was my challenge as my Discover It card approval was met with a small SL of $2000 and only a $500 CLI over a couple years. I was told by Discover representatives my prior Discover card discharge of approximately $8K/$9K wouldn't allow for my card to grow. This was true until a month or two ago when I was approved for a second Discover It with a SL of $9500 and 0% APR for 14 months and an increased CL on my initial Discover It to $5K. 

 

At some point in the future would like to reconnect with Citibank, Chase and BOA.  .  . I believe all but Chase were included in my 2013 Chapter 7 discharge. 

 

Seems each has a variable look back and criteria for reentry.

 

Chapter 7 Discharge Aug 2013 Starting Score: Oct. 2013 EQ FICO 651
May 2022 EQ FICO 9 779
May 2022 EQ FICO 744 Mortgage 716
May 2022 TU FICO 748 Mortgage 738
May 2022 EX FICO 743 Mortgage 742
AMEX Cash Magnet $26K; Cap One QS World MC $11k; Cap One Venture Sign VS $15k; NFCU AMEX Rwds $20k; NFCU VS Sign Cash Rwds $16.1k; NFCU Plat VS $11k; Mercury (previously Barclay Rwds MC) $4750k; Lowes $35k; Neiman Marcus $24k; Discover It $9.5k; Discover It $13K; Venmo Visa Sign $20K; Barclaycard (AU) $25.5K; Discover (AU) $19.5k New Mortgage Jan 2016 & Nonreaffirmed Mortgage Refinance Nov 2020; New Auto July 2017 NFCU LOC $20K
GOAL 780 FICOs on ALL 3 CRs by OCTOBER 2023.
Lowes Business AMEX $13.5K
Message 16 of 17
Hockeypnc1
Established Contributor

Re: Burned Amex in 2016, approved for creditOne Amex, is it real?

Wow!!

your story gives me hope

I burned Amex for about 11,500 in fall of 2016, so it seems like a similar time line to yours.

 Since then I have gotten into the 700s on Equifax and have several credit cards with big limits

A penFed with 17.5k limit

UW credit union with 20k limit

 

 

Message 17 of 17
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