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I applied earlier for the Amex gold card but was denied instantly because of my old Amex account being included in my chapter 7 bk that was discharged July of 2020. I called them up and talked to the collections department about paying the old balance off. They said I could voluntarily pay the balance by mailing in a check however they still couldn't guarantee I'll be eligible to get a new account with them. Should I go ahead and pay or just wait a while? I am able to pay in full I just didn't want to pay then still be denied due to that old account. I have been rebuilding my credit since filing in March of 2020 and I just recently got my fico 09 score to 688.
@bbeaver2013 wrote:I applied earlier for the Amex gold card but was denied instantly because of my old Amex account being included in my chapter 7 bk that was discharged July of 2020. I called them up and talked to the collections department about paying the old balance off. They said I could voluntarily pay the balance by mailing in a check however they still couldn't guarantee I'll be eligible to get a new account with them. Should I go ahead and pay or just wait a while? I am able to pay in full I just didn't want to pay then still be denied due to that old account. I have been rebuilding my credit since filing in March of 2020 and I just recently got my fico 09 score to 688.
You will be denied until your BK is more than 5 years old if you pay them back, if you don't pay them it will be significantly longer time frame.
@bbeaver2013 wrote:I applied earlier for the Amex gold card but was denied instantly because of my old Amex account being included in my chapter 7 bk that was discharged July of 2020. I called them up and talked to the collections department about paying the old balance off. They said I could voluntarily pay the balance by mailing in a check however they still couldn't guarantee I'll be eligible to get a new account with them. Should I go ahead and pay or just wait a while? I am able to pay in full I just didn't want to pay then still be denied due to that old account. I have been rebuilding my credit since filing in March of 2020 and I just recently got my fico 09 score to 688.
You can ask and see if they approve you for Amex Optima Card when you pay off the balance. Normally Amex Optima card is away back into Amex family. Ask and see what they say. What do you got to loose.
If you have the money to pay the balance, go for it. If it qualified you for the Optima Card, you could rebuild and then get a Gold Card down the line. Good luck. Let us know how it works out.