Amex Green Card question

[Nan425]

Has anyone kept an Amex Green card open while going thru issues with your other creditors while keeping your Amex PIF each month? Like 30 day lates, collections, charge offs, etc? I am not able to make my prosper loan payments because household income will be reduced by 50% and I think Prosper will report it 30 days late then charge it off, not sure how Prosper handles collections. It will go delinquent but I plan to settle it when spouse gets a job. I am worried Amex will close it if lates and collections pop up on my credit report.

[NRB525]

Sorry to hear about the job loss. Always challenging.

It is very difficult to predict how a bank will respond to new negatives on other parts of your report. How much are you spending on the green, and how long have you had it? Always a consistent usage pattern?

What are the payments amount on the Prosper loan?

[Nan425]

NRB525, thnks for your response. We run about $2500 per month on it and never been late. I have my fiancee as a authorized user on it. I have had it since 2013, they approved me with 628'ish score and one 30 day late from 2012.

The prosper payments are $550 per month. I wonder how prosper will handle this delinquency.

[Anonymous]

Banks do account reviews every so often. Once the charge off shows up on one of their reviews, although the AMEX Green Card doesn't have a spend limit and always PIF, they can put a max limit on it or even freeze it for financial review. Do you have any back up cards you can use once AMEX puts a hard limit on the Green card or freeze it for Financial Review? Have you talked to Prosper if you can make some sort of repayment plan to avoid it going into collections?

[Anonymous]

I think Prosper has a hardship program there might be a way to underwrite it for longer time

[Nan425]

Thank you for the responses. I will give prosper a call.

[Anonymous]

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@Nan425 wrote:
Thank you for the responses. I will give prosper a call.

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Yeah. See if they can work something out. It's a lot of work trying to get things cleaned up on your credit history if something negative shows up. Best of luck !!!

[NRB525]

Yes, best of luck. Anything you can do to keep up with even minimum payments makes your life a little easier later on.