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Does AmEx let you back in after settlement offer?

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Brucemac
Established Member

Does AmEx let you back in after settlement offer?

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 

Message 1 of 12
11 REPLIES 11
Horseshoez
Senior Contributor

Re: Does AmEx let you back in after settlement offer?


@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


There are numerous reports around here of folks settling with AMEX and eventually getting back in.  There are other folks who've made AMEX whole and have not gotten back in; so long story short, it is a crap shoot.

 

If you take their offers, keep us posted on what happens if/when you reapply.

I categorically refuse to do AZEO!
Message 2 of 12
shalimarcat
Regular Contributor

Re: Does AmEx let you back in after settlement offer?


@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


          Hello, I was in a debt settlement program for two years. Amex was the one I owed the most to. My lawyer made settlements with all my creditors for less that full. Amex was one of the few that sent me official letters that my accounts were settled. This was late 2021. Amex was gracious enough to let me back in with a Hilton Honors card in June 2022, and then a Green in October of 2022. The only negative is that my  Hilton Honors is still at its starting limit of $1,000. They have been good on everything else, though.

Message 3 of 12
CorpCrMgr1
Established Contributor

Re: Does AmEx let you back in after settlement offer?

I'd take the deal. You have a chance to save your credit. Certainly, AmEx will look at the entire picture with any future relationship. Good luck!

Message 4 of 12
pizzadude
Credit Mentor

Re: Does AmEx let you back in after settlement offer?


@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


Your odds of getting back in are going to be higher by accepting the settlement offer and paying them off.   Not guaranteed though.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 5 of 12
Lurker22
Frequent Contributor

Re: Does AmEx let you back in after settlement offer?


@Horseshoez wrote:

@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


There are numerous reports around here of folks settling with AMEX and eventually getting back in.  There are other folks who've made AMEX whole and have not gotten back in; so long story short, it is a crap shoot.

 

If you take their offers, keep us posted on what happens if/when you reapply.


I just want to add - yes I agree, take their offer BUT weigh it carefully, if the offer is pay them $10K (or some such silly number) does that really make sense?  Look at what you'd be repaying them versus the benefits you'd receive from the card and be sure it makes sense 

Message 6 of 12
Horseshoez
Senior Contributor

Re: Does AmEx let you back in after settlement offer?


@Lurker22 wrote:

@Horseshoez wrote:

@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


There are numerous reports around here of folks settling with AMEX and eventually getting back in.  There are other folks who've made AMEX whole and have not gotten back in; so long story short, it is a crap shoot.

 

If you take their offers, keep us posted on what happens if/when you reapply.


I just want to add - yes I agree, take their offer BUT weigh it carefully, if the offer is pay them $10K (or some such silly number) does that really make sense?  Look at what you'd be repaying them versus the benefits you'd receive from the card and be sure it makes sense 


That calculation for me was easy, I burned them for somewhere between twenty-five and thirty grand in my 2015 Chapter 13, so I won't even consider any type of a repayment, ever.  If that means I ain't gettin' back in with AMEX, then I ain't gettin' back in; I'm good with that.  Smiley Tongue

I categorically refuse to do AZEO!
Message 7 of 12
shalimarcat
Regular Contributor

Re: Does AmEx let you back in after settlement offer?


@Lurker22 wrote:

@Horseshoez wrote:

@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


There are numerous reports around here of folks settling with AMEX and eventually getting back in.  There are other folks who've made AMEX whole and have not gotten back in; so long story short, it is a crap shoot.

 

If you take their offers, keep us posted on what happens if/when you reapply.


I just want to add - yes I agree, take their offer BUT weigh it carefully, if the offer is pay them $10K (or some such silly number) does that really make sense?  Look at what you'd be repaying them versus the benefits you'd receive from the card and be sure it makes sense 


       I just wanted to add that, with my settlement offers, It was lump sum payment only.  There was no dividing it up into monthly installments.

Message 8 of 12
CorpCrMgr1
Established Contributor

Re: Does AmEx let you back in after settlement offer?

@shalimarcat  I'd go higher up and find the one that will allow a payment plan. 

Message 9 of 12
Lurker22
Frequent Contributor

Re: Does AmEx let you back in after settlement offer?


@Horseshoez wrote:

@Lurker22 wrote:

@Horseshoez wrote:

@Brucemac wrote:

Amex has sent me settlement offers for two cards charged off in 2018. I'm seriously considering accepting the offers since they won't she off my credit reports until Nov 2025. At least it will show as paid. Does anyone know if this gets you off their black list and they let you back in at some point? My spouse has the BCE card and I would like to at least be an AU. 


There are numerous reports around here of folks settling with AMEX and eventually getting back in.  There are other folks who've made AMEX whole and have not gotten back in; so long story short, it is a crap shoot.

 

If you take their offers, keep us posted on what happens if/when you reapply.


I just want to add - yes I agree, take their offer BUT weigh it carefully, if the offer is pay them $10K (or some such silly number) does that really make sense?  Look at what you'd be repaying them versus the benefits you'd receive from the card and be sure it makes sense 


That calculation for me was easy, I burned them for somewhere between twenty-five and thirty grand in my 2015 Chapter 13, so I won't even consider any type of a repayment, ever.  If that means I ain't gettin' back in with AMEX, then I ain't gettin' back in; I'm good with that.  Smiley Tongue


Same boat for me...won't ever make sense for me to pay them back anything, if I get back in great - if not oh well there's other cards that fit my needs just as well 

Message 10 of 12
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