Cancelled Credit Cards

[Anonymous]

Back in December, I moved from Illinois to Michigan for a new job opportunity and to relocate my family.  Initially we lived with my wife's parents until we purchased our permenant home.  In that time, I had forgotten to report my address change to American Express.   I hadn't been receiving my statements, thus I wasn't making payments to my cards.  The mail has finally caught up to me and I realized that AmEx had cancelled both of my cards.  How badly will that reflext on my FICO score?  What is the best way to move forward from here?  Thanks

[myjourney]

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@Anonymous wrote:

Back in December, I moved from Illinois to Michigan for a new job opportunity and to relocate my family.  Initially we lived with my wife's parents until we purchased our permenant home.  In that time, I had forgotten to report my address change to American Express.   I hadn't been receiving my statements, thus I wasn't making payments to my cards.  The mail has finally caught up to me and I realized that AmEx had cancelled both of my cards.  How badly will that reflext on my FICO score?  What is the best way to move forward from here?  Thanks

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Welcome to the forum

1) pay them ASAP

2) always signup fpr electronic statements 

3) the ding from lates can hurt for 2 years and depending on the size of CR's (thick or thin) could be crippling to scores 

[Anonymous]

First thing I'd do is pull a report and see what the current status is.

You may be dealing with issues like 90-day lates, which are serious derogatories.

You could try writing goodwill letters and so on, but it's not clear whether this would be successful.