Amex closing accounts !

[Anonymous]

Hello All,

I have an active Fico reader and I do comment once a while if I have some information.

I have a unique situation... At least to me it is since I have been notified today that all (3) Amex accounts were shut down for no reason.

I paid them off last month and I was waiting for them to be reported to 0 and bang they close them.

I tried calling customer service and they explained that I have new public information which states I have collection against “WOOD LAW” for direct Tv.

Last week I did notify this was up on my report... I called DTV and they understood the issue and agreed to charge me about 100+ and knock off the complete collection.

And today Amex closed my accounts. I called the president’s office and a lady was kind enough to help me.

Do they usually re-instate the accounts?

I can’t and don’t want to lose my amex account it’s also the oldest account ...

[Anonymous]

Not in my case.    Let us know how it works out.

[Anonymous]

what was your story?

[DI]

My account is still open.  My credit reports are still pristine.  Did they only close your account due to the adverse account reporting? 

[DI]

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@Anonymous wrote:

Hello All,

I have an active Fico reader and I do comment once a while if I have some information.

I have a unique situation... At least to me it is since I have been notified today that all (3) Amex accounts were shut down for no reason.

I paid them off last month and I was waiting for them to be reported to 0 and bang they close them.

I tried calling customer service and they explained that I have new public information which states I have collection against “WOOD LAW” for direct Tv.

Last week I did notify this was up on my report... I called DTV and they understood the issue and agreed to charge me about 100+ and knock off the complete collection.

And today Amex closed my accounts. I called the president’s office and a lady was kind enough to help me.

Do they usually re-instate the accounts?

I can’t and don’t want to lose my amex account it’s also the oldest account ...

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Highlighted in red is the reason for your sudden accounts closure

[Anonymous]

I was up to date on Amex, but had several other late accounts on my report.  They said no on reconsideration. 

They are very agressive on dropping anyone who looks like a pending risk.

[steffiejoe]

From what I know they watch your credit reports to see how you are doing with all of your accounts. I have a friend whose account was closed because of a charge off with another account. He called and they told him it did not matter if he was current with them. 

Sorry this happened to you. 

[haulingthescoreup]

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@Anonymous wrote:

Hello All,

I have an active Fico reader and I do comment once a while if I have some information.

I have a unique situation... At least to me it is since I have been notified today that all (3) Amex accounts were shut down for no reason.

I paid them off last month and I was waiting for them to be reported to 0 and bang they close them.

I tried calling customer service and they explained that I have new public information which states I have collection against “WOOD LAW” for direct Tv.

Last week I did notify this was up on my report... I called DTV and they understood the issue and agreed to charge me about 100+ and knock off the complete collection.

And today Amex closed my accounts. I called the president’s office and a lady was kind enough to help me.

Do they usually re-instate the accounts?

I can’t and don’t want to lose my amex account it’s also the oldest account ...

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Get back with DirectTV and confirm (I think this is what you said, but I'm not sure) that they will cease reporting this on your reports, forever and ever. Get it in writing, on company letterhead if possible.

You do NOT want a collection on your reports. It will be there for 7 years, paid or not. You want a pay-for-delete: you pay them, and they cancel the reporting.

This is absolutely what triggered AmEx's AA.

[Anonymous]

Thats exactly my approach.. PAY for Delete... no matter what.. I will have that in writting and make sure I will keep calling till they do that.

Just that AMex is funny... because now they cancel my accounts i have 90 days... and I think it takes about 30 days to report back...

Can I force Experian and other reports to fast track reporting? 

Any help appreciated.

[smc733]

This comment isn't intended to anyone in this thread, but lets look at it through Amex's eyes (and if anyone has a reason to be bitter towards Amex, I'm one of them):

They have credit extended to you.  They soft you (as they are allowed), and see other accounts go south, should they wait and lose money on you too?  (Potentially, but very possible), or should they cut and run before they get hurt.  It makes full on sense for them to do this.  One or two lates is extreme, but a charge off certainly warrants AA in this case.

However, I've heard of people declaring bankruptcy, (not including Amex in the BK), and the account remains open, so YMMV.