@BenConrad wrote:In 1991 (yes, 32 years ago) I walked away from an Optima card owing $23K and a Gold card owing $13K--if I remember correctly.
They charged it all off.... I called many times saying that I had gone back to college and asked for a deferral and was refused--(my other cards MC etc. granted me deferrals and long payment plans and all got paid.)
15 years ago I managed to get to the top as far as talking to someone at AMEX to reopen cards--I was told that to get off the "blacklist" I would have to pay in full--and if I did, they would report the payment on the CRA's and they could since that would constitute the latest activity which could essentially make the AMEX accounts that were long gone reapear as paid after collection on the CRA's which would lower my score and prohbit me from getting AMEX cards until they dropped off--I was in a 'no-win' situation he explained and said it was really a "catch22."
8 years ago I applied for and received an Amex green card with a $2K limit that was closed within 60 days--based on "a previously closed account" that was missed during the application process.
5 years ago a friend with a black Amex attempted to add me as an AU and a letter was received by the both of us saying that due to the 1991 CO's I was not elligible for a BLK Card as even an AU but I could have an AU Platinum card--which I accepted and have maintained for the past 5 years.
Last week I applied for my own Amex Platinum card and was pre-approved for an Amex Platinum. Upon applying I was denied with no hard pulls saying "because Amex cancelled previous accounts"
I called today and spoke with a supervisor confirmed that I was on a blacklist and no cards could be issued and advised me to not apply again saying that due to the length of time since the CO I would have no way of ever getting off the blacklist. I requested a call back from a 'higher-up" and await that call. I will keep you informed of the final result!
To recap: 31 years after Amex CO I am still blacklisted but have a AU Platinum card
Interesting story. Never heard of it going down like that. Hopefully they'll let you in eventually!
@StephenH wrote:
@BenConrad wrote:
To recap: 31 years after Amex CO I am still blacklisted but have a AU Platinum card
I was hoping for 10 yrs, but after reading this I'm not too sure about that anymore.
And to answer @winner88, if you pay them back it's more likely, but there are some mentions of members getting back w/ Amex after IIBK OR CO without paying them back.
If you really want to get back in with Amex and you can afford to pay them, then settle your balance. If it's not that important, put it out of your head for a while and check the prequals some time later.
No, don't settle, pay in full. Settling is almost as bad as not paying at all (to Amex).
I don't really think there is a hard and fast rule here, I burned them for just over $10k which was charged off on a business platinum card in 2013. And got back in with a personal card in 2020. I also filed a bk in 2014 but lawyer messed up and didn't include them so I still owe the entire amount.
AMEX let me back in after almost 9 years. The first 2 years my limits were $1K and would get denied for Platinum, Gold, Green cards. The 3rd year things changed now I have all 3 charge cards, my highest limit card is AMEX Blue cash $19K second highest is Business Blue $12.5K. There’s hope with AMEX
@practical1 wrote:Just adding my 1 1/4 cents to the mix....
I've reported the full story a few times already on the Forum... but to recap briefly:
I was a fintech entreprenur and an excellent AMEX customer for 7+ years, from 1980 onward. My annual spend exceeded 100K (in those days). Was issued one of the absolute first Platinum cards (when they were as rare as the Centurion cards were in the initial days of their issue). The Platinum cards also had a cash line of credit attached and a companion Platinum Optima card (for any charges one might choose to pay over time). All told, I had $175K in revolving credit with AMEX, plus nearly boundless monthly charging ability.
Then came Black Monday, 1987 -- the Market Crash, which wiped me out and necessitated a Chapter 7 filing. AMEX was unavoidably included and burned, to the tune of about $40K. With years of hard work, I eventually rehabilitated myself (although I couldn't borrow a dime for more than a decade). Over time, I restored my credit and ultimately became a "citizen" again -- to all creditors except AMEX.
Try though I may, AMEX consistently denied me access to any card products. Eventually, I took a position with a large firm which had an AMEX corporate card program and I was granted a company-sponsored Green Card -- the kind that the individual makes the monthly payments directly to AMEX and then seeks reimbursement from their employer. I was very careful to titrate my spend, increasing each month and making certain all payments were made online and well in-advance of due dates, hoping to establish a track record.
After a couple of years, my employer closed-up shop. I made the final payment on the card and it was shut-down once AMEX learned of the business being shuttered. Surely, I thought, I had finally re-established my bona-fides with them, right? No such luck.....
I could not persuade the underwriters at AMEX to even consider an application for an individual card in my name, despite numerous attempts. I felt cursed.
As luck would have it, several years later, I discovered the MyFICO forums. While browsing through the postings, I discovered a thread that mentioned that (at that time) the easiest AMEX card to get approved for seemed to be the Starwood AMEX card. As this was around the time that Marriot's acquistion of Starwood had already been announced (and I had a significant committment to Marriott's loyalty program anyhow), I thought, why not give it another try.... IT WORKED. So, after waiting 30 years, I was finally accepted back into the AMEX fold, in 2017, albeit with a measly $ 2K starting credit line.
From small acorns, large oak trees grow, as it is often said. Within 4 years, that $ 2K had grown to a total of $51 K in revolving credit limits spread across three personal AMEX cards, plus another $ 69 K in revolving credit on my three business AMEX cards.
Moral of the story: AMEX does have a long memory. (My cards are emblazoned with "Member since 1980.") Eventually, they will let you back in, provided you keep your finances healthy -- and are prepared to wait.... and wait....... and wait.
Best of luck!
Very neat story, thank you for sharing
