amex acct default

[Jccflat]

so I have a family member who lives in my address same last name and his credit cards  are in default since he has a financial problem now,

my question is will this have any  bad impact of my accounts and my credit  relationship with amex or it Has nothing to do with me?

[SoCalGardener]

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@Jccflat wrote:

so I have a family member who lives in my address same last name and his credit cards  are in default since he has a financial problem now,

my question is will this have any  bad impact of my accounts and my credit  relationship with amex or it Has nothing to do with me?

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Unless this relative's SSN is the same as yours, I don't see why there should be any overlap. A misunderstanding could happen, like a creditor mistakenly thinking you're the debtor, but--legally--you'd have nothing to worry about.

You weren't on the account, were you? Either as the cardholder, co-cardholder (if they even do that any more), AU or anything else? That could potentially be a problem.

[coldfusion]

You should not have a problem with AMEX, but you will need to do your due diligence to make sure there are no future mixups.

Because you have the same name and address you could find that a lazy or incompetent data miner co-mingled some of their information in 1 or more of your consumer reports and that information could further percolate onto your credit reports.

IMO you should get a copy of your Lexis Nexis consumer report as well as get copies of your current credit reports from annualcreditreport.com and keep .pdf versions and hard copies saved in a safe place so you have a reference to fall back upon in case there is a future screwup.

[OmarGB9]

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@coldfusion wrote:

You should not have a problem with AMEX, but you will need to do your due diligence to make sure there are no future mixups.

Because you have the same name and address you could find that a lazy or incompetent data miner co-mingled some of their information in 1 or more of your consumer reports and that information could further percolate onto your credit reports.

IMO you should get a copy of your Lexis Nexis consumer report as well as get copies of your current credit reports from annualcreditreport.com and keep .pdf versions and hard copies saved in a safe place so you have a reference to fall back upon in case there is a future screwup.

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+100

[Savvyborrower]

How can I become a part of the 1mill club? Your credit score is high. What does your mix look like? Im am willing to network to meet people for better value relationships thats is the position I want to be in eventually. To learn and grow my financial literacy, and overall wealth.

[Anonymous]

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@Savvyborrower wrote:

How can I become a part of the 1mill club? Your credit score is high. What does your mix look like? Im am willing to network to meet people for better value relationships thats is the position I want to be in eventually. To learn and grow my financial literacy, and overall wealth.

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Here $1M club means having a total credit line in excess of $1M, which can be very different from having actual wealth.   As some have found, once you start serious charging against "excessive" credit lines, building up balances, issuers start closing or CLDing.

Of course, some with a huge credit line also do have real wealth.

But to join, you need:

a) Time.   Thick file, so issuers will give you credit and expand existing credit lines

b) Good credit record.   No baddies to create worry

c) Ideally good income, to support any nervous underwriters ("Hey, this person only makes $30K a year, how can we give a $100K credit line???")

d) Decide this is a goal, so you spend time searching out good opportunities and applying

[SoCalGardener]

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@Anonymous wrote:

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c) Ideally good income, to support any nervous underwriters ("Hey, this person only makes $30K a year, how can we give a $100K credit line???")

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I know, I know!! The person only has $30,000 *income* (like from SS), but they have *assets* worth millions! Like money in the bank, a multi-million dollar home they own outright (i.e., no housing payments), etc. Although I have not hit the $100K CL threshold (yet), I might one day--and I have a very low income (now). But the other stuff applies!

[Savvyborrower]

I was 20k shy of 100k last year. This year I'll gross significantly more than if not 100k. My scores all range between 677 to 691 fico and even higher vantage 3.0. Im doing the research as well I wanted to know if you may say. What cards do you recommend when you were at this level of credit and income? With about 9 accts adding 2-3 more by the end of the year amounting to 12 accts, revolving secured, unsecured, and installments. Avg. Age of accounts is 1 yr 2 mths. No home yet, or car which is making me sweat because I need to get that history ASAP.

[Savvyborrower]

Thanks a lot for your insight btw!!

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@Anonymous wrote:

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@Savvyborrower wrote:

How can I become a part of the 1mill

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@Anonymous wrote:

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@Savvyborrower wrote:

How can I become a part of the 1mill club? Your credit score is high. What does your mix look like? Im am willing to network to meet people for better value relationships thats is the position I want to be in eventually. To learn and grow my financial literacy, and overall wealth.

---

Here $1M club means having a total credit line in excess of $1M, which can be very different from having actual wealth.   As some have found, once you start serious charging against "excessive" credit lines, building up balances, issuers start closing or CLDing.

Of course, some with a huge credit line also do have real wealth.

But to join, you need:

a) Time.   Thick file, so issuers will give you credit and expand existing credit lines

b) Good credit record.   No baddies to create worry

c) Ideally good income, to support any nervous underwriters ("Hey, this person only makes $30K a year, how can we give a $100K credit line???")

d) Decide this is a goal, so you spend time searching out good opportunities and applying

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club? Your credit score is high. What does your mix look like? Im am willing to network to meet people for better value relationships thats is the position I want to be in eventually. To learn and grow my financial literacy, and overall wealth.

---

Here $1M club means having a total credit line in excess of $1M, which can be very different from having actual wealth.   As some have found, once you start serious charging against "excessive" credit lines, building up balances, issuers start closing or CLDing.

Of course, some with a huge credit line also do have real wealth.

But to join, you need:

a) Time.   Thick file, so issuers will give you credit and expand existing credit lines

b) Good credit record.   No baddies to create worry

c) Ideally good income, to support any nervous underwriters ("Hey, this person only makes $30K a year, how can we give a $100K credit line???")

d) Decide this is a goal, so you spend time searching out good opportunities and applying

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