Amex Reconsideration

[Anonymous]

This will eventually be moved to business credit and it's unfortunate about the returned payment but every creditor is going to look unfavorably upon that and probably flag your account.

[darwin_wins]

As a last resort if nothing works, try EO and see if they can help you.

[Chickenpotpie]

OP, because the return was so recent, maybe the application for credit was too soon?  I don't claim to know how Amex operates, I'm just going off how stringent banks can be these days.

I believe they may not give you the credit because of this.

[sandman2435]

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@kdm31091 wrote:

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@Uncle_Money wrote:

Not my fault as in all the information I provided to the rep, including routing and acct # to make the payment was correct.

8 years and 1 return payment, which I immediately corrected so I doubt I'm on any "bad list."

We shall see what happens. I will report the results back.

UM

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Unfortunately, it really doesn't matter, because once a returned payment occurs, you are flagged in the system as having a returned payment. The computer doesn't really care who was at fault or how quickly it was fixed. There is, by and large, not a human sitting there writing this list on a notepad -- it's all a system. Returned payment = bad in the eyes of the creditor.

You are free to believe or not believe, and I'm not saying it will cause you issues forever, but in the short term, you are unlikely to have much luck with the creditor becuase of it.

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I once did the same thing that you did,And I'm a 30 year card member,I paid on an account that I closed as I selected the wrong account to pay from,From what Amex told me it stays in their system for 12 months that you had a returned payment even if it's an honest mistake it still stays on their records for 12 months,I've since made sure that all my bank account info is up to date,I had the returned payment 15 years ago ,They did not AA me,But I could not get a CLI or another new account for the 12 months

[Creditaddict]

I would wait out the recon... but the account that you had the returned payment on, you can call in and if you get a rep that knows what they are doing they can actually remove the flag from the account that shows you had a returned payment because no payment was actually late if you fixed the issue and paid again before then.

Amex holds those flags on accounts for 12 months and usually a review will fix it but you can ask for the flag to be removed if it didn't cause any lates or anything... this would also block you from getting CLI's currently.

it's kind of annoyance but something amex has always done.

[Creditplz]

When I asked them to recon I got a HP I've heard about others getting HP for recon too with Amex... Just check the status online and when it updates to approved or declined call them back??

[NichelleN]

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@Creditplz wrote:
When I asked them to recon I got a HP I've heard about others getting HP for recon too with Amex... Just check the status online and when it updates to approved or declined call them back??

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That happened to me as well.

 - Initial application: Denied, HP

 - Negative item deleted from credit report 2 days later, faxed in updated info (also put the SAME letter in the mail), requested recon: Denied, HP

 - Mailed letter arrived at fedex, received unexpected email: Approved, HP

The same recon request with the same information resulted in 2 additional HP's, a denial and then an approval

Ah well, it got me in the door with Amex and 7 months later, I opened a second card with them.

Good luck on your recon. I haven't had experience with a returned payment so I can't help there. But I hope it works out.

[Uncle_Money]

**UPDATE**

So they say no news is good news right?

As of today, which is approximately 7 days later, I checked the status online and it still says "In Progress." The new accounts department says a decision hasn't yet been made.

NOTE: You can no longer speak with an Amex credit analyst. I searched high and low and tried every phone number I could find and each one leads back to new accounts. Every rep I've spoken to says not even they can "call" the analysts. They have to email them. The new accounts phone number really isn't a "back door" number to speak to an analyst, at least not anymore. The reps there have zero power to overturn an application. All they can do is submit the reconsideration for you.

I'm determined to get approval and I will post the proof once I get this overturned. I didn't get to where I am today by accepting the word "no." I'm persistent. And I'll get this done, you wait and see naysayers on this thread!

Meanwhile, I was going to FedEx a recon letter along with a copy of my credit report and letter from my credit union, which states the reason why the payment was dishonored. It wasn't because I didn't have the funds to make the payment it was because I used a line of credit and apparently, PenFed (my credit union) doesn't allow electronic debits from a personal line of credit. I had no idea. The address on the denial letter is a PO Box and you can't FedEx overnight to a PO Box so the rep suggested I fax in any documents I have. So I did.

Now we continue to wait 7 days later. Anyone feel free to weigh in with any thoughts!

Uncle Money

[Uncle_Money]

BREAKING NEWS:

And there it is! Finally, after making all the calls, sending emails and faxes stating my case, I got the approval notification today!

The key is NEVER give up. Persistence is key and pays off. I absolutely refused to accept a decline on this application. I've been with Amex for 8 years now and this is my 5th credit card account. I have no idea whether it was the calls, emails or faxes that got this approval but something obviously worked!

Again, NEVER give up on what you want.

UM

[Creditplz]

Congrats my friend! Glad it all worked out !