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The only way you would get back with Amex at 5 post BK and not even guaranteed is to repay them the debt that you burnt them for, but that doesn't guarantee they will approve you. I can tell you most certainly if you don't repay Amex it will be alot longer than 5 years though to get back with them. BK does get you out of paying back said creditors in the BK, but those creditors certainly never have to lend you money again either. I never had a BK and alot of this board have had them and everyones circumstance is different. I did have alot of CO's, CA's etc and I had to pay 20k+ back in one year of those accounts it stunk let me tell you, but bk wasn't an option to me years ago simply as I made to much money. The way I see it if someone borrowed money from you and never paid you back would you lend them money again? You can guess my answer to that question. Obviously there are two sides to how people feel about this and whether they should or shouldn't pay a debt back and especially a BK. Best of luck on whatever you choose but if you choose to pay them back you gotta be 5 years past BK before amex will even consider letting you back in and it doesn't sound like you are at that point yet.
CC, I believe Medicgirl and one other have reported getting back with Amex in under 5 years even though they burned them in bk. I have never figured out how. I sold a biz that had Amex cards for the employees. The new owner burned them and they had his pg. They still took it out on me by random card declines. I got so tired of it I gave up my card. I finally decided to retest the water after DW got her BCP. I got a BC and have had no issues yet. My card has the new date but my login has a 20 year old date as a member.
@Anonymous . As far as I know the only people that have got back in with AMEX with a BK under 5 years are the ones that some how got the BK off their Experian reports. Might be a few others that have magically got back with it reporting on their Experian report although not the normal, but I suspect it could happen as anyting in life is possible, but probably a mistake on Amex part if they did get in early and it got past their computers
@Anonymous wrote:I'm a bit confused here. Once a bankruptcy is discharged, then the debt is forgiven. You no longer owes that debt. I understand AMEX can keep a grudge and will not let you back in but my question is unless you seriously need something from Amex, I do not see the reason why you would want to contact them and offer to pay back a discharged debt. I'm sure there are lots of other banks out there that would love to do business with you now. Besides, are you telling me that if you want to get back into Discover or another big bank, and they happened to be included in your bankruptcy, you would pay them off now just to get back in. I understand that it's your money and you can do anything with it but the logic seems to be flawed IMHO.
Even though the debt has been discharged you can still pay back the debt if you want too.
What's the process of getting a "repayment + guaranteed Optima Oasis" agreement?
Is it something former members seek out, or something Amex reaches out to them with?
How long after BK/write off does it become an option?
@wasCB14 wrote:What's the process of getting a "repayment + guaranteed Optima Oasis" agreement?
Is it something former members seek out, or something Amex reaches out to them with?
How long after BK/write off does it become an option?
Its not available to BK accounts. The reason is that the Oasis program is a form of collection and there are strict laws regarding collection and BK.
Even if it was available, I would recommend applying for a regular account as your scores are good and you are just a year away from the 5 year mark.