AMEX

[Anonymous]

I contacted AMEX today and spoke with someone in there credit bureau department.  My account is closed, in collections and that is reflected on my credit reports.  I asked them if there was anyway that they could show that my account was now current and not show that it was in collection as I had been paying 50.00 each month on it.  They stated that they would simply delete the entire AMEX account and that it would never show on my credit reports again.  IS this normal?  Does AMEX simply delete the entire account?  How does this impact my FICO score?  I originally opened the card in July 2007.  I still have an outstanding balance of $4500.00.  

Thanks

[Anonymous]

I recently had something similar happen with Amex.  I had a corporate Amex charge off in 2005 (that I disputed unsuccessfuly for a couple of years.)  Since I just paid the balance in 2009 to try to make it go away, I wasn't sure if I'd re-set my 7 year reporting term, so I called a couple of weeks ago to ask about when it was scheduled to drop off - in 2012, or 2016.  I was put through to the credit bureau and after asking some basic verification questions, the CSR stated that he was deleting the account entirely - and sure enough, it dropped off all 3 credit reports to the tune of a 27 point socre increase.  (this was my very last baddie that I've been waiting to see expire.)  Despite my rabid curiosity, I decided it wasn't worth probing further for an explanation as to why exactly he was deleting it, lest he realize he was making an error of some sort - so I cheerfully and thankfully dropped off the line.

My question now is - with a score now approaching 800 and the Amex issue deleted from my CR - will I get approved for a personal Amex, or will this fall under the blacklist umbrella?

[pizzadude]

AMEX is one of the better CCs in terms of goodwill ~ they will almost always delete negative TLs once you have paid them. Same goes for re~applying for new cards, if you have PIF the you shouldn't be blacklisted. They may deny you for other reasons, but generally they only seem to blacklist when you owe them $$$$.

[Anonymous]

good info - thanks!

[Anonymous]

Interesting discussion - I also had a problem with AMEX in 2000 where they charged off $50K. The TL has dropped off at this point but, I think they have not forgotten. Does anyone know if they will take something <$50K to get me off the blacklist?

[pizzadude]

I would say that it is doubtful that they would take less than the full amount. If you are past the SOL for the debt, you could always give them a call and ask. Or even apply for a new card. I don't think they would even pull your credit if you are blacklisted and denied. They may have a repayment plan or something similar ~ I think they used to have the Oasis ?? Program....

[Anonymous]

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@Anonymous wrote:

Interesting discussion - I also had a problem with AMEX in 2000 where they charged off $50K. The TL has dropped off at this point but, I think they have not forgotten. Does anyone know if they will take something <$50K to get me off the blacklist?

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It only costs an inquiry. Actually, I think if you're blacklisted they won't even do a CRA pull.

[Repo-ed]

This is VERY hopefull.

I have 2 baddies on my CRs and one is a paid collections after closed by granitor from Amex.

My problem is, it is reporting as my oldest account with no lates.  I want to send them a GW letter to remove neg TL, but that would then also affect my AAoA. 

MY END goal would then to re-app Amex and be approved and have acct date retro to 2006.

Thoughts?

[pizzadude]

Have you applied to AMEX recently ?  You might be close enough to qualify for a ZYNC charge card.  

Also I suspect that you would have no trouble getting a new card backdated to 2006 since your older card is still reporting.

[Repo-ed]

I have 2 baddies, 1 being a repo that's a CO from 07, and my amex paid collection.  I can't get approved for any prime-secured cards.  I've tried.  In fact, I've tried 13 times over the last 2 years, according to EQ.