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Would it be dumb to pay Amex?

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SouthJamaica
Mega Contributor

Re: Would it be dumb to pay Amex?


@Eric958 wrote:
I burned Amex in 2011 thru BK13 - DC 2016, I would like to get back in with them but don't want to stir up a hornets nest! owe small amount. Not sure if paying will get me back in but might be worth a shot.

IMHO no it would not be dumb to pay Amex, whichever way it turns out.


Total revolving limits 569520 (505320 reporting) FICO 8: EQ 696 TU 689 EX 676




Message 11 of 12
longtimelurker
Epic Contributor

Re: Would it be dumb to pay Amex?


@SouthJamaica wrote:

@Eric958 wrote:
I burned Amex in 2011 thru BK13 - DC 2016, I would like to get back in with them but don't want to stir up a hornets nest! owe small amount. Not sure if paying will get me back in but might be worth a shot.

IMHO no it would not be dumb to pay Amex, whichever way it turns out.


In my far from humble opinion, sometimes it might be!   I've seen people willing to pay off $5-10K amounts, and to me, the major question is: "Do the returns you expect to get justify the cost?"    And $1K is real money, so assuming that it does allow you to get back in, will you, in some form or another, get that $1k back?

 

Of course, it's a different situation for those who feel morally obliged to pay off old debts, but I am assuming such people would be asking the OPs question.  But on a purely financial side, I think there is a point where an Amex relationship isn't worth the cost, that varies for each person.

Message 12 of 12
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