Amex Platinum Approved with Amex Charge Off

[Anonymous]

I wanted to share this story for anyone who is in a similar situation to me.  I have 9 charged off credit card accounts from 2015, including an Amex Platinum account that was charged off and settled for less than the full balance.  I paid and settled all my charged off accounts in October 2016, and I have been rebuilding my credit since.

On May 15, 2017, I applied for the Amex Platinum personal card over the phone, and I was instantly approved!  I was completely shocked that Amex would approve me for the same card that was charged off in 2015.  

Stats at the time of approval on 5/15/17:

EX FICO 642

AAoA almost 3 years

Utilization 0% of $1,500

9 charged off accounts from 2015 (all of them paid in October 2016)

7 Inquiries

I hope this story helps other people who are on the road to rebuilding and considering this charge card! 

[AverageJoesCredit]

Congrats thats pretty amazing. It probably helped that you did actually settle it with some kind of payment. Im also guessing since you have to pay 550 bucks for the card, that maybe helped their decision.

Great job

[sjt]

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@Anonymous wrote:

I wanted to share this story for anyone who is in a similar situation to me.  I have 9 charged off credit card accounts from 2015, including an Amex Platinum account that was charged off and settled for less than the full balance.  I paid and settled all my charged off accounts in October 2016, and I have been rebuilding my credit since.

On May 15, 2017, I applied for the Amex Platinum personal card over the phone, and I was instantly approved!  I was completely shocked that Amex would approve me for the same card that was charged off in 2015.  

Stats at the time of approval on 5/15/17:

EX FICO 642

AAoA almost 3 years

Utilization 0% of $1,500

9 charged off accounts from 2015 (all of them paid in October 2016)

7 Inquiries

I hope this story helps other people who are on the road to rebuilding and considering this charge card! 

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Congrats.

FYI- Amex considers your overall hisotry with them. The fact you paid/settled with them is a positive thing with Amex. Also, Amexx uses their own internal scoring system and looks for credit improvements trends. 

[Anonymous]

That definitely makes sense.  I figured the annual fee, along with my Amex history, factored into their decision.  

I'm just glad that Amex understands the overall picture and doesn't hard line blacklist applicants based off of a previous negative account with them.