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Amex Green Card question

Nan425
New Contributor

Amex Green Card question

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.

Message 1 of 8
7 REPLIES 7
NRB525
Super Contributor

Re: Amex Green Card question

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?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 2 of 8
Nan425
New Contributor

Re: Amex Green Card question

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.
Message 3 of 8
GTC471
Frequent Contributor

Re: Amex Green Card question

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?

Message 4 of 8
fordguy89
Valued Contributor

Re: Amex Green Card question

I think Prosper has a hardship program there might be a way to underwrite it for longer time
Open one, close three. Open one, close three.
Message 5 of 8
Nan425
New Contributor

Re: Amex Green Card question

Thank you for the responses. I will give prosper a call.
Message 6 of 8
GTC471
Frequent Contributor

Re: Amex Green Card question


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

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 !!!

Message 7 of 8
NRB525
Super Contributor

Re: Amex Green Card question

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

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 8 of 8
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