Amex Issue - What is best to do?

[BobbyJ]

Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985.  That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting. 

Is it wise to let Amex know that my old closed account is being reported?  I dont want to rock the boat and not sure what is best.

Thanks

[LTomBerry]

Never poke a sleeping bear.

[pizzadude]

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@BobbyJ wrote:

Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985.  That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting. 

Is it wise to let Amex know that my old closed account is being reported?  I dont want to rock the boat and not sure what is best.

Thanks

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If it a positive account I don't know why you would want to do anything to it, unless you are saying that you might want to pay it off now.  

[Anonymous]

I wouldn't do anything. Believe me, they already know!

[-Cain-]

I don't see a reason to contact AmEx.

[Open123]

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@Anonymous wrote:
I wouldn't do anything. Believe me, they already know!

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Yes, they certainly do.

It's one of those things where they know, but really can't prove it (meaning documentation is incomplete).  It's after SOL, so they can't really pursue it, but the amount is likely small which isn't a big deal for them.

You have two options.  One, leave it alone, which is what I would do if it were a large amount.  Two, if it were a relatively small amount, I'd pay it and start fresh, since there is much to be said for paying our debts in life--assuming the debt is yours and you know the amount.

While the SOL is a viable defense in court, there is no time limit on when a creditor may collect on a debt.  It could be 100 years, and they can still request you pay, unless it was discharged in a BK.

[Anonymous]

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@BobbyJ wrote:

Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985.  That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting. 

Is it wise to let Amex know that my old closed account is being reported?  I dont want to rock the boat and not sure what is best.

Thanks

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Never tickle the tail of a sleeping dragon!

FWIW, I have a similar situation. I had an account with them from 1987 that went to a CO in 1991. That old account popped up on my EX report a couple of months before they sent me an offer to apply for a new card. The account is reporting positive, because it is long past the CRTP for derogatory information. I really don't know why they chose to report the old account, but since it's adding to my AAoA on EX, I'm certainly not going to argue. I advise the same for you -- enjoy the windfall!

And congrats on your approval!

[BobbyJ]

Thanks everyone for your responses.  I will just leave it alone.  It will be nice to have 3 accounts reporting a 27 year history each rather than just 2.  My AAOA already has increased from 3 years 8 months to 4 years 7 months with just this one reporting.  Cant wait for the other 2 backdated accounts to report.  This forum is great!!!!!

[pizzadude]

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@BobbyJ wrote:

Thanks everyone for your responses.  I will just leave it alone.  It will be nice to have 3 accounts reporting a 27 year history each rather than just 2.  My AAOA already has increased from 3 years 8 months to 4 years 7 months with just this one reporting.  Cant wait for the other 2 backdated accounts to report.  This forum is great!!!!!

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Good idea ~ and congrats on the backdating, having your other two AMEX cards reporting will most certainly help your AAoA !!

[Anonymous]

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@BobbyJ wrote:

Hello, I recently was approved for an Amex PR Gold and Zync and both were backdated to my previous card that I had opened in 1985.  That account was charged off in 1986 I believe when I was very young.

Fast forward, that old account is now reporting on my CRs in a positive factor even know my two new accounts are not yet reporting. 

Is it wise to let Amex know that my old closed account is being reported?  I dont want to rock the boat and not sure what is best.

Thanks

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How do you know that it's the old account that is reporting? Is it showing a balance? Could it be that it's just one of the new cards reporting already? The new accounts will repot as opened in 1985.