AMEX charge off

[DaisyDoo]

I had an AMEX years ago and about $2200 was charged off. It has since fallen off my credit report. I recently got married and he has perfect credit. He tried to add me to his amex account and they denied me. Since then, they have sent me offers to settle. If I settle, will the account show back up on my credit report? Will they take me off the "blacklist" if ask them to do it as a condition of settling? Thanks in advance for any help. My credit is almost cleaned up and I just don't want to have these things come up again. BUT it would be very convenient to have an amex account with my husband.

[kerplunk]

I understand what you’re asking, and I probably don’t have the answer you’re looking for—that answer probably involves negotiating with American Express and seeing what they can do—but generally, you borrowed money and you didn’t pay it back. I couldn’t live with myself if I did that. My advice is to pay back the money you owe.

[coldfusion]

There have been a number of reports here about people who managed to get back into AMEX' good graces by paying back the chargeoff in full.   Keep your eye on the thread as I'm sure someone with personal experience can chime in. 

They almost never forget, but if they're paid they will forgive. 

[pizza1]

Amex doesn't "settle". Its all or nothing. If you pay them back in full, you'll be off the black list, and more than likely be sent a letter offering you a chance to get back in their graces with their Optima/Oasis card program.

They have a very long memory, so unless you PIF, you won't even get to be an AU, sorry.

[PointsBonus]

If you decide to pay the debt in full, depending on the situation AMEX will most likely offer you the Optima/Oasis program. Make sure you are paying AMEX off in full not the 3rd party debt collection company.

[SouthJamaica]

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@DaisyDoo wrote:

I had an AMEX years ago and about $2200 was charged off. It has since fallen off my credit report. I recently got married and he has perfect credit. He tried to add me to his amex account and they denied me. Since then, they have sent me offers to settle. If I settle, will the account show back up on my credit report? Will they take me off the "blacklist" if ask them to do it as a condition of settling? Thanks in advance for any help. My credit is almost cleaned up and I just don't want to have these things come up again. BUT it would be very convenient to have an amex account with my husband.

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Pay it off, but don't count on Amex to do the right thing. They might, and they might not.

But as one person observed above, be wary of dealing with 3rd party collection agencies.

[CreditCuriosity]

As others echoed you have two choices pay it off(they dont settle) and most likely they will let you have your own card again assuming profile supports it and allow you to be an AU on someone elses card in this case your husbands.. Or you can wait it out depending on how long amex holds a grudge up to 20+ years depending

[longtimelurker]

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@kerplunk wrote:
I understand what you’re asking, and I probably don’t have the answer you’re looking for—that answer probably involves negotiating with American Express and seeing what they can do—but generally, you borrowed money and you didn’t pay it back. I couldn’t live with myself if I did that. My advice is to pay back the money you owe.

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Right, but this is a personal decision (there are MANY worse things than not paying Amex back!).  To me, the question is whether it is worth paying $2200 for a chance to get back with Amex.    Depending on how critical that money was, my vote would probably be No, especially as your husband has the card and so the household gets most of the benefits anyway.

[UncleB]

Hi @DaisyDoo, and welcome to myFICO!

Amex can be a stickler when a prospective AU has an outstanding balance on an old account, but some have circumvented the issue by adding the AU without providing the SS# and DOB up-front (you have the option to provide it later).

When the card arrives the AU SS# and DOB will have to be provided when it's activated, but this has been known to get around the AU problem you're describing.  It's not guaranteed, but it's worked for some on here.

Good luck whatever you decide. 

[sjt]

Once you pay them, you will NOT be on their blacklist. Also, if you pay them it will NOT re-appear on your credit report.