Update-AMEX Post Bankruptcy

[Mgilbert8605]

These were the reasons provided:

1. There is serious delinquency and derogatory public record or collection agency record on your report.

2. There is no recent information about installment loans on your report.

3. There are too few accounts currently paid as agreed.

4. The number of accounts that have or had a delinquency.

I've had a clean profile since my bankruptcy, but many lates prior to that. So I don't understand the ding for #3. Everything is always paid on time.

The major change that happened in between me doing to original prequal and when I actually applied is #2. My student loans (which are my only installments) were transferred/sold to another servicer. I pulled a 3B report this weekend. The new loans show on every bureau EXCEPT Experian.

[rosco75]

Does AMEX only pull EX? I thought they were a 2 CB pull. Now I have to dig again lol

[CWESTL]

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@Mgilbert8605 wrote:

These were the reasons provided:

1. There is serious delinquency and derogatory public record or collection agency record on your report.

2. There is no recent information about installment loans on your report.

3. There are too few accounts currently paid as agreed.

4. The number of accounts that have or had a delinquency.

I've had a clean profile since my bankruptcy, but many lates prior to that. So I don't understand the ding for #3. Everything is always paid on time.

The major change that happened in between me doing to original prequal and when I actually applied is #2. My student loans (which are my only installments) were transferred/sold to another servicer. I pulled a 3B report this weekend. The new loans show on every bureau EXCEPT Experian.

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Thanks for sharing your experience. More information on your credit profile may denote approval odds in comparison to others that have applied. I've posted about my AMEX approvals despite having included and discharged approximately $10K in AMEX CC debt in my Chapter 7 BK. My credit file at the time of applying was void of any old discharged accounts and only included the Chapter 7 BK as a derogatory mark. Additionally, my file had a healthy mix of several revolving and installment accounts (inclusive of CC, mortgage, auto and student loan accounts), low utilization, greater than $200K in available credit, two or fewer inquiries, etc. I'm certainly not aware of AMEX's approval formula, but as clean and robust of a file will likely increase your odds of approval.