Has anyone settled with AMEX or Chase, and been approved for a CC after?

[Taevibe]

Has anyone settled a CO with AMEX or Chase, and been approved for a CC with them after?

How long did you wait after settlement?

Did you have to use the recon line? If so, what did you explain?

Which card(s)? How much was the limit? Has it since increased?

Background: I have charge-offs with Chase and AMEX from 2017. I'm prepared to pay in full, but I'm reading here they still blacklist if you pay in full. I'm wondering if I should just take my chances with settling for a lesser amount.

I'm new to this so any insight would be greatly appreciated!

[Remedios]

Depends.

Amex may consider approving you, but if you settle, probably not any time soon. 

Chase, pay in full or settle, you will be in the naughty chair and no one can tell you for how long. They aren't forgetting or forgiving kind.

Neither is Amex, but they might be willing to give you a toy limit in exchange for the loss they incurred. 

Without a payment, decade(s) for both. 

[jcooks]

I had a CO with Chase about 10 years ago, settled for less with CA.  Since then, I've cleaned up.  I just got approved for the Chase Freedom Flex after getting instantly denied and also making 2 seperate recon calls.  Make sure you have no more derogs and relatively clean.  My worst derogs were a few lates from about 5 years ago.  Clean profile since then.  When I spoke to the first recon rep, she said she couldn't do anything.  I tried again the next day and explained that I wanted to start building a relationship with Chase again.  They approved me with a very low limit, but I'm working my way up on this.  My first statement cut just this morning so I don't have other DP's to offer.  I would recommend just rebuilding and keeping a clean profile.  Once all COs stop reporting, then you can retry but will most likely be an auto denial.  

[Taevibe]

Thanks! 

Are "toy cards" cards with low limits?

[Taevibe]

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@jcooks wrote:

I had a CO with Chase about 10 years ago, settled for less with CA.  Since then, I've cleaned up.  I just got approved for the Chase Freedom Flex after getting instantly denied and also making 2 seperate recon calls.  Make sure you have no more derogs and relatively clean.  My worst derogs were a few lates from about 5 years ago.  Clean profile since then.  When I spoke to the first recon rep, she said she couldn't do anything.  I tried again the next day and explained that I wanted to start building a relationship with Chase again.  They approved me with a very low limit, but I'm working my way up on this.  My first statement cut just this morning so I don't have other DP's to offer.  I would recommend just rebuilding and keeping a clean profile.  Once all COs stop reporting, then you can retry but will most likely be an auto denial.  

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Congrats!! Had you tried to apply before this?

[FinStar]

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@Taevibe wrote:

Thanks! 

Are "toy cards" cards with low limits?

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"Toy limits" is in reference to accounts with fairly low limits.

[Horseshoez]

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@FinStar wrote:

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@Taevibe wrote:

Thanks! 

Are "toy cards" cards with low limits?

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"Toy limits" is in reference to accounts with fairly low limits.

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My brain immediately pictured an AMEX Platinum with a $300 limit. 

[FinStar]

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@Horseshoez wrote:

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@FinStar wrote:

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@Taevibe wrote:

Thanks! 

Are "toy cards" cards with low limits?

---

"Toy limits" is in reference to accounts with fairly low limits.

---

My brain immediately pictured an AMEX Platinum with a $300 limit. 

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I think I've seen Gold Cards 'imposed' or restricted spending limits at $500 and Platinum at $1K in the past.  When the ZYNC charge card was around years ago (still have mine), it was not unusual to see spending limits either assigned (or reduced) to $500 😬...depending on profile.

[pizza1]

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@FinStar wrote:

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@Horseshoez wrote:

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@FinStar wrote:

---

@Taevibe wrote:

Thanks! 

Are "toy cards" cards with low limits?

---

"Toy limits" is in reference to accounts with fairly low limits.

---

My brain immediately pictured an AMEX Platinum with a $300 limit. 

---

I think I've seen Gold Cards 'imposed' or restricted spending limits at $500 and Platinum at $1K in the past.  When the ZYNC charge card was around years ago (still have mine), it was not unusual to see spending limits either assigned (or reduced) to $500 😬...depending on profile.

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@FinStar , yep...I was one of them with imposed limits (sighs)  Im jealous at your ZYNC card! I wish they'd bring it back! Its so pretty too

[FinStar]

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@pizza1 wrote:

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@FinStar wrote:

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@Horseshoez wrote:

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@FinStar wrote:

---

@Taevibe wrote:

Thanks! 

Are "toy cards" cards with low limits?

---

"Toy limits" is in reference to accounts with fairly low limits.

---

My brain immediately pictured an AMEX Platinum with a $300 limit. 

---

I think I've seen Gold Cards 'imposed' or restricted spending limits at $500 and Platinum at $1K in the past.  When the ZYNC charge card was around years ago (still have mine), it was not unusual to see spending limits either assigned (or reduced) to $500 😬...depending on profile.

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@FinStar , yep...I was one of them with imposed limits (sighs)  Im jealous at your ZYNC card! I wish they'd bring it back! Its so pretty too

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Yes, not to sidetrack or go off topic, but AmEx will have to pry that one out of my cold dead hands ☠️   It's one of those 🌈 🦄  that are rarely seen these days.  And, regardless of the upgrade offers they throw at me (Gold/Platinum mainly) - nope. I believe @Revelate still has theirs too.