How does Amex feel about...

[Anonymous]

So I am presently working on fixing all my baddies on my credit, negotiated PFD for all my collections, but I have 5 lates on my credit, 2 90 days on student loans, one was in 2015, the other 2018.  Then I have 3 30 day lates on cards from Sept of 2019 (1) and Jan 2020 (2).  How does Amex feel about these lates... I am presently sitting at EX 645, but that should be jumping significantly with the PFD's on the collecitons (3) and a payoff on a cc that reported 92% utl last month.  I currently have a Delta Gold with a starter 1k limit, probably because they let me in with the collections and lates.  I have always PIF the card monthly and put about 1300 through it a month, mostly dining and cell phone bill.  

Will Amex begin  somewhat forgiving with these lates, or am I doomed until the late disappear in addition to the collections I have dropping off in the next 45 days...

Anyways thanks in advance MyFico fam!

[coldfusion]

Doomed before the lates drop off no, but it's going to be a while before they start showing you a lot of love. 

[Anonymous]

So how long is a long time, 7 years?

[K-in-Boston]

As long as the collections are there, nothing is likely to change.  As to how long the lates will affect you with Amex, that's a YMMV situation.  You just need positives to strongly outweigh those negatives.  It doesn't have to be 7 years, but those most recent 3 are still quite recent.  Once your scores recover from the damage and you're around 720 or so on Experian 8, you should be in better shape in Amex's eyes as long as the collections are gone.

[coldfusion]

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@Anonymous wrote:

So how long is a long time, 7 years?

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No,  would guess more like 3 years.

There's a good chance you'd be able to get 1 or more additional cards out of them but not with high limits and meaningful CLIs will be tough.

[Remedios]

I'm going with doomed. 

If you're putting the spend on that card just to show them you can pay it off, it won't change anything.

Plenty of people cycle multiple times through $1000.00 and end result is same if you spent $0.00. 

Those are recent lates, I wouldn't even bother trying for increase. 

If other cards make more sense for purchases, use those cards. There is no buying Amex's love. 

If Delta makes sense for you to use, continue doing so (but with no strings attached). 

[Anonymous]

@K-in-Boston the collections are in process of PFD, payments have actually been made, just waiting for them to update to the CRAs.  My understanding is they update to  a 0 balance then they delete off after that....  The recent lates I may try to GW off, but I've read that Cap 1 is not nessecarily receptive to this.  @coldfusion 3 years isnt terrible, plus as I mentioned above I may attempt the GW activity for the recent lates.  Also, if I were to obtain other card(s) from Amex in the interim and got the 1k limit(s), would those limits likely grow as the lates age/ delete off?  

For reference I am wanting to get the Hilton Surpass card as I am Hilton loyal but not travelling enough to justify the Aspire (same reason I went with the Delta Gold vs Plat/Reserve), and I wouldn't mind Green/Gold charge cards for their MR categories and perks like uber eats etc, as we do a TON of delivery food and have eats passes we pay for.

Anyways as always thanks for the information and imparting your wise knowledge!

[Anonymous]

@Remedios No, I am using the card for it intended purpose, to rack up on Delta points... I am putting spend on it that otherwise would be made with debit card and earn absolutely nada benefits.  I prefer to travel Delta and the free bags are a plus with a family.  And most of our family lives about an hour and a half from ATL, so Delta makes sense. I will certainly temper my expectations with regard to the CLI process until I can (hopefully) get the lates GW off.  

Thank you for your input!

[Remedios]

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@Anonymous wrote:

@Remedios No, I am using the card for it intended purpose, to rack up on Delta points... I am putting spend on it that otherwise would be made with debit card and earn absolutely nada benefits.  I prefer to travel Delta and the free bags are a plus with a family.  And most of our family lives about an hour and a half from ATL, so Delta makes sense. I will certainly temper my expectations with regard to the CLI process until I can (hopefully) get the lates GW off.  

Thank you for your input!

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In that case, beat it into the ground lol

[coldfusion]

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@Remedios wrote:

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@Anonymous wrote:

@Remedios No, I am using the card for it intended purpose, to rack up on Delta points... I am putting spend on it that otherwise would be made with debit card and earn absolutely nada benefits.  I prefer to travel Delta and the free bags are a plus with a family.  And most of our family lives about an hour and a half from ATL, so Delta makes sense. I will certainly temper my expectations with regard to the CLI process until I can (hopefully) get the lates GW off.  

Thank you for your input!

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In that case, beat it into the ground lol

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Break out the whip!