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American Express - Declined

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Super Contributor

Re: American Express - Declined


@CreditCuriousity wrote:

Why not pay them back if you want back in with them?  Only $1200 as that is a drop in the bucket on a 200k salary.  Otherwise wait it out for 15-20 years and they might let you back in.  Whether it was a BK or not, sometimes certain lenders simply want their money back as would I if I lent someone money and was never paid back.  They can't demand you to pay them back if you included them in a BK for even $50 dollars, but they certainly have the right not to offer you credit.

 

 


I can see a 20plus year black list coming after reading all that. Smiley Very Happy

Message 61 of 74
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Regular Contributor

Re: American Express - Declined

Working for a major bank all I can say is SMH.

Message 62 of 74
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Established Contributor

Re: American Express - Declined


@UncleB wrote:


From what I have read on the Amex community site, participation in the Oasis program is generally by invitation.  I also know that lenders have to follow strict rules when it comes to accounts included in a bankruptcy, or else they risk running afoul of Federal law, which can be costly for them.

 

I can say, though, that with enough time American Express does let people back in after a bankruptcy; I'm one of them

 

It took quite a while, though... 15 years.  And, for what it's worth, they still use that as a reason to summarily deny my CLI requests.  You can't rush this process; since just like you I 'burned' them in a bankruptcy I must expand my relationship with them at their pace, not my own, regardless of how much I may want to.  They are also under no requirement to match what other lenders have done for me, nor do I expect them to.

 

I know this isn't what you want to hear, but it's my not just my opinion, it's what has actually happened to me.  Since your attempts at reestablishing your relationship with Amex are already off to a rough start, I would suggest perhaps giving it a bit more time, and take a look at other worthwhile lenders in the interim.  When the time is right, Amex will still be around.


UncleB and CAPTOOL, thanks for sharing your journey back into AMEX. +1 for both of you Smiley Happy 

 

UncleB, did you participate in Oasis or pay the debt back prior to gaining membership back into AMEX?

 

CAPTOOL, did you apply for an AMEX the same year you receive the Optima Oasis offer? If not, how long after did you want to apply? Also, was there any particular reason you chose not go through the Oasis program?

 

 

 

 

 

 

MMXX intentions: Do the work
My Garden Goal: Double NW

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Message 63 of 74
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Moderator

Re: American Express - Declined


@taxdoc wrote:

UncleB and CAPTOOL, thanks for sharing your journey back into AMEX. +1 for both of you Smiley Happy 

 

UncleB, did you participate in Oasis or pay the debt back prior to gaining membership back into AMEX?

 

CAPTOOL, did you apply for an AMEX the same year you receive the Optima Oasis offer? If not, how long after did you want to apply? Also, was there any particular reason you chose not go through the Oasis program?

 


I did not participate in Oasis; actually I didn't even know there was a such thing until after I was already back "in" with American Express.

 

It was almost an accident that I got back in to begin with; I applied for the Green card expecting a prompt denial, and when after a few seconds the screen said, "Approved" it caught me quite off-guard.  I was still new on this site, but I knew enough to understand how the Green approval might indicate I could get a BCP (which is what I actually wanted).  I then applied for the BCP and was approved as well. 

 

It was just over 15 years from my bankruptcy to the approvals for the new accounts.  Smiley Wink

Message 64 of 74
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Established Contributor

Re: American Express - Declined

It sounds like patience AND evidence of a solid rebuild is the golden ticket back into membership (but I know YMMV always Smiley Happy). Thanks for your insight.
MMXX intentions: Do the work
My Garden Goal: Double NW

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Message 65 of 74
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New Contributor

Re: American Express - Declined

Obviously this is not his salary or he would be embarrassed to apply for a card with Amex without paying the small amount owed off first.
Message 66 of 74
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New Contributor

Re: American Express - Declined

My account was closed in January, owed 70k, reinstated by April. I just paid it off. There was not much more to it, well a little more but I wouldn't even think of requesting it without paying the 70k- this is 1200 and he claims he makes 200k, no way.
Message 67 of 74
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Frequent Contributor

Re: American Express - Declined

Hi Maria, 

If you don't have anything productive to add to a conversation you should really keep your comments and opinions to your self. If you read through anything on this board you would know the $1200 was IIB back while in college. I would never have gone through a BK had a family member who I co-signed for didn't die leaving me as a college student with hundreds of thousands of dollars in debt that while I was working I did not have anywhere near the income coming in as I have today. 

 

Infact you are correct, I did not make $200k last year, my tax returns reflect $198k and change. Going back to reading the posts before you add your own two sense as I am getting a bit tired of people who arnt familiar with the situation posting things that add zero value the 1 and only reason I did not and have not paid the $1200 was at the advice of my attorney. The is some sort of law that says if I pay one back that it opens myself back up to liability on other debt that was discharged should the other creditors ever find out. 

Citi TY MC (AU) $30,000 |Hilton Amex (AU) $30,000|USAA CR Amex $28,000 |Chase United $22,000|Nordstrom VS $25,000
PenFed Rwz VS $30,000 |Quick Silver $13,000 |BAC Cash Rwz $25,000|BBY Visa $10,000|PenFed LOC $25,000 | Lowes $30,000 | Care Credit $15,000 Discover It $6,600 |Costco Visa $5,000 |Consumer CCU VS $10,000
NFCU Flagship $19,800 |State Farm Visa $4,000 | Marvel MC $10,000| NFCU LOC $15,000| Wells Fargo 360 Amex $9,500| Citi AA $9,000| Huntington $6,500| BCU loc $25,000| Cap1 savor $10,000| PenFed Amex $7,500

Total Credit line $421,000 | FICO as of 8/3/2019 TU 730 |EQ 699 |EX 697| UTI 2%
Message 68 of 74
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Super Contributor

Re: American Express - Declined

Well get rid of the attorney. Paying off that debt dies not open you up to all your creditors. Basically and is saying. We can't go after you legally. But. If you ever want another relationship. You shoukd voluntarily pay the debt and we will consider it. Nothing guaranteed. They gave specific program just for people in your situation. As life does happen to everyone. I'm not about paying old debt either. But if j wanted a relationship with a financial institution again. I may consider it.
Message 69 of 74
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Valued Contributor

Re: American Express - Declined


@Maria26 wrote:
My account was closed in January, owed 70k, reinstated by April. I just paid it off. There was not much more to it, well a little more but I wouldn't even think of requesting it without paying the 70k- this is 1200 and he claims he makes 200k, no way.

Thanks for your input, Maria26. Was it a CO, or did you have a BK issue with Amex too?

Message 70 of 74
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