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Paying Amex even though it was discharged bk7?

bbeaver2013
New Contributor

Paying Amex even though it was discharged bk7?

I have been trying to get a new account with Amex but have been unsuccessful due to my last Amex account was included in my Bk7 that was discharged in July 2020. I have rebuilt my credit since then and my fico scores are between 660 to 680 depending on which bureau. I read on here if I paid the balance off which is 1540 I could possibly get back in with them. Any input is greatly appreciated. I will be purchasing a home in July or August of this year so I will wait till after I close on my home. 

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Message 1 of 7
6 REPLIES 6
dragontears
Valued Contributor

Re: Paying Amex even though it was discharged bk7?


@bbeaver2013 wrote:

I have been trying to get a new account with Amex but have been unsuccessful due to my last Amex account was included in my Bk7 that was discharged in July 2020. I have rebuilt my credit since then and my fico scores are between 660 to 680 depending on which bureau. I read on here if I paid the balance off which is 1540 I could possibly get back in with them. Any input is greatly appreciated. I will be purchasing a home in July or August of this year so I will wait till after I close on my home. 


You have plenty of time for this, even when not included in BK, Amex will not approve you until your BK is 5+ years old (I think it is 5 years 1 month but not 100% sure).

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Message 2 of 7
1GaDawg85
Valued Contributor

Re: Paying Amex even though it was discharged bk7?


@bbeaver2013 wrote:

I have been trying to get a new account with Amex but have been unsuccessful due to my last Amex account was included in my Bk7 that was discharged in July 2020. I have rebuilt my credit since then and my fico scores are between 660 to 680 depending on which bureau. I read on here if I paid the balance off which is 1540 I could possibly get back in with them. Any input is greatly appreciated. I will be purchasing a home in July or August of this year so I will wait till after I close on my home. 


I doubt paying them will encourage them to change their mind as 1500 was written off in BK. I would give it 5 years a couple of months before trying. You are already down 2 years. Patience is key with them and other lenders you have burned in the past. 



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Message 3 of 7
mark3038
Established Contributor

Re: Paying Amex even though it was discharged bk7?

For now why not get the Macy's AX card? It has a lot of features and CLI's are pretty decent. They do accept BK's after discharge without the long wait

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 4 of 7
bigseegar
New Contributor

Re: Paying Amex even though it was discharged bk7?


@bbeaver2013 wrote:

I have been trying to get a new account with Amex but have been unsuccessful due to my last Amex account was included in my Bk7 that was discharged in July 2020. I have rebuilt my credit since then and my fico scores are between 660 to 680 depending on which bureau. I read on here if I paid the balance off which is 1540 I could possibly get back in with them. Any input is greatly appreciated. I will be purchasing a home in July or August of this year so I will wait till after I close on my home. 


WAY back I had a business that was very profitable and then Black Monday hit with the Stock Market and took my business with it. I was forced to file both personal and business BK. I had 2 AmEx cards at the time (Green and Gold) but they were paid in full and never included in either BK. So I owed them nothing and they lost nothing but of course they canceled my cards when I filed. It took me exactly 19 years after rebuilding my credit and salary and trying and trying  before they let me back in. Good news is though my Member Since Date is still "1984" on all my current 6 AX cards lol. But also the fact that they do have my orginal Member date also shows you AX never forgets and that's why it took me so long I guess. 

Message 5 of 7
AverageJoesCredit
Mega Contributor

Re: Paying Amex even though it was discharged bk7?

At least 5 years plus a couple months after bk to even be considered, paging @pizza1  who can clarify that, if not including Amex . Having actually burned Amex can be  more  time depending how they view your account and how much was burned. I got back in with Amex after 10 years and i never paid back what i owed fyi. 

Message 6 of 7
sjt
Senior Contributor

Re: Paying Amex even though it was discharged bk7?

Its 5 years and 1 month, if Amex was not IIB.

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