How long until I can get Amex?

[Generalsource1]

I hope not that long if I pay them all off and get some collections removed through PFD and authorized user on my dads Amex do you think I can possibly be above 650 within a year or two ? I appreciate your advice 

[Generalsource1]

Thanks @Jeffster1  I really hope that one day I can too , I was too financially irresponsible when I was younger and it just hit me , I've made a mess and I take responsibility and will fix it as soon as possible, thanks for your motivating words   

[Jeffster1]

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@Generalsource1 wrote:

Thanks @Jeffster1  I really hope that one day I can too , I was too financially irresponsible when I was younger and it just hit me , I've made a mess and I take responsibility and will fix it as soon as possible, thanks for your motivating words   

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@Generalsource1  It sounds like you are in the right mindset, and that is great. 

To at least give you something positive to go on...your path to Amex (despite taking a lot of work and patience) will not be nearly as lengthy as it is for those who have burned Amex in some way. Burning Amex can lengthen the wait from a few years to decades.

My own experience is different from yours but I'm hoping there is some take-away. I ended up in high credit card debt, but managed for years to fool myself into believing all was well. I was treading water, just barely keeping ahead of my bills. No savings other than a large 401K, untouchable as I was too young, Admittedly, I stayed just ahead and avoided lates; chargeoffs and collections. But I had no quality of life as I kept "robbing Peter to pay Paul." One of my many cards was a high-balance card with a large credit union. I had set up a monthly bill pay from my bank. I paid absolutely no attention (clearly my fault) to what was going on. I iwould go to a shared branch ro make supplemental payments. I then got lazy and my payments were not keeping up with the minimum  I was now really scraping by and even though everything else was on time, I ignored what was going on with that account.

Affer a while, instead of sending me to collections, they sued me. Huge wake up call. I realized then and there I had no future if I kept doing what I was doing. A few days later, I filed Chapter 13. I ended up paying back 100 percent of my claims and emerged after 3.5 years.

i included Amex in my bankruptcy. I guess the point of my story is that while I was paying back my debts, and for about a year after my discharge, I accepted that I would probably never have an Amex again. Amex was the last thing on my mind. I patiently rebuilt my credit. 61 months after filing BK, I was approved for an Amex. 

What helped me the most was that I remained focused on the journey and not the "goal." As they say around here, "It's a marathon. Not a sprint."

[Bmom]

What is it that you find so appealing about Amex? Any goal is a good goal if it fixes your situation, just be careful. 

[Bmom]

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@Generalsource1 wrote:

A repo that was from a credit union: How much?

 1st cash central  loan $984

2nd grain technology $1,036

3rd merrick bank balance left $157 : pay in full

4th Petal card and the balance $1,309: settlement might not be a bad idea

5th is "possible" finance unsecured account with $900 balance that's in collections

6th knight ADJ bureau with balance of $948 that's in collections from RC Wiley

7th is from Midland credit management its collections and the balance is $832: do they pay or settle for delete, or are they the difficult one?

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[Generalsource1]

@Jeffster1 Wow sorry that you had to file for bk , but also congratulations on staying focused and committed to fixing your situation and not giving up , that definitely gives me hope! I'm happy you got back on track with with your finances and with Amex!, I've never really cared for credit when I was younger and I was reckless, because I always thought "cash is king" I own a business and thankfully I am good and have a good income, but CREDIT is super important, I've realized from my father and many other successful friends, they all say they wouldn't be where they're at without the banks money, I would've been able to scale my business a lot faster and bigger if I had banks money, everything I have is paid cash , but then again I'm only 23 years old ( 24 soon  ) so maybe this all happened for a reason , maybe if I would have had all the banks money I would've blown it and been in a deeper hole if I didn't have the experience I have now, so from now on I'm going to be more financially responsible and I'm going to be thoroughly committed to keeping my credit in line. , again I really appreciate your input and advice , I feel like without this forum I wouldn't have started this journey, ( I've been a lurker for a while) thanks again my friend 

[Jeffster1]

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@Generalsource1 wrote:

@Jeffster1 Wow sorry that you had to file for bk , but also congratulations on staying focused and committed to fixing your situation and not giving up , that definitely gives me hope! I'm happy you got back on track with with your finances and with Amex!, I've never really cared for credit when I was younger and I was reckless, because I always thought "cash is king" I own a business and thankfully I am good and have a good income, but CREDIT is super important, I've realized from my father and many other successful friends, they all say they wouldn't be where they're at without the banks money, I would've been able to scale my business a lot faster and bigger if I had banks money, everything I have is paid cash , but then again I'm only 23 years old ( 24 soon  ) so maybe this all happened for a reason , maybe if I would have had all the banks money I would've blown it and been in a deeper hole if I didn't have the experience I have now, so from now on I'm going to be more financially responsible and I'm going to be thoroughly committed to keeping my credit in line. , again I really appreciate your input and advice , I feel like without this forum I wouldn't have started this journey, ( I've been a lurker for a while) thanks again my friend 

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@Generalsource1  I can tell that you have what it takes. You can do it, and you will. You got this.

[Generalsource1]

@Bmom Hello thanks for your reply! The repo is around $6,000 from a credit union the branch manager said they will also get me on their credit rebuilder program with a secured card after that's paid , they're actually a really good branch and all of my family members have accounts with them , i will definitely pay them in full because I do want to get back in with them. 

[Generalsource1]

Thank you for your time! and motivation I will keep this thread updated on my progress. 

[Bmom]

I saw your other post. You're in a position to pay, settle and ask for pay for deletes,  with your savings which is fantastic. Getting those paid, closed, and to stop reporting monthly will help a lot. As will time and distance from the bad trade lines. Hopefully you can get the others to delete! I'd definitely pay off that petal to get it from going 90 days past due. Good luck!