Reapplying with amex

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Random_buyer
 
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Joined: Tue Jul 26, 2016 2:15 am

Reapplying with amex

Postby Random_buyer » Tue Jul 26, 2016 2:19 am

Hello all,

I'm new, so excuse me if this question has already been answered..

I was an amex green card user in 2013, and my balance was sent to collections and I paid it all off (same year).

Does anyone know if I'm blacklisted, as I've tried doing a pre qualify with no offers. Maybe my scores are too low. 630s currently.


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PhillyPhoto
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Joined: Wed May 13, 2015 3:32 pm
Location: New England

Re: Reapplying with amex

Postby PhillyPhoto » Tue Jul 26, 2016 8:30 am

There have been a few data points to show that if you never repaid Amex, you'll be blacklisted for a very long time (if not for life). If you've paid what was owed, you should be OK and getting approved, as long as you meet whatever criteria they have for the card otherwise. A 630 score might be a little low, but the charge cards tend to be a little looser in criteria because you are required to pay it in full each month (or so I've read). There's no pre-set limit, but they will stop you from going past a certain point, which is known only to them. Charge cards all have the same underwriting, so you don't have to start with the green if you really like the PRG or even platinum, but keep the AF in mind.

What are the other reasons why your score is so low (current cards, payment history, limits, etc)? That may give some insight in to what you can do in the short-term to boost your score some.
Main Cards:
Amex: Mercedes-Benz Plat, HHonors
Chase: Amazon.com Rewards, Freedom
Citi: ThankYou

Sock drawer Cards:
Amex: Ameriprise Gold
Citi: Macy's Amex, Simplicity
Citizens Bank: Cash Back Plus World
Discover: it
Elan: Bank Rewards
Synchrony: PayPal Extras

718 Eq|734 TU (8/16)|733 Ex (9/16)

Random_buyer
 
Posts: 2
Joined: Tue Jul 26, 2016 2:15 am

Re: Reapplying with amex

Postby Random_buyer » Tue Jul 26, 2016 10:35 am

PhillyPhoto wrote:There have been a few data points to show that if you never repaid Amex, you'll be blacklisted for a very long time (if not for life). If you've paid what was owed, you should be OK and getting approved, as long as you meet whatever criteria they have for the card otherwise. A 630 score might be a little low, but the charge cards tend to be a little looser in criteria because you are required to pay it in full each month (or so I've read). There's no pre-set limit, but they will stop you from going past a certain point, which is known only to them. Charge cards all have the same underwriting, so you don't have to start with the green if you really like the PRG or even platinum, but keep the AF in mind.

What are the other reasons why your score is so low (current cards, payment history, limits, etc)? That may give some insight in to what you can do in the short-term to boost your score some.



Thanks for the reply!
My score is low mainly because of my utilization. (49% on CK, and 79% on creditscorecard). However, a couple of days ago, I got a CLI approval of 1k, and applied a payment where now my uti should be 10-15%. So once cap 1 reports it to the bureaus, my score should jump a bit.
The other reason is late payment, 3 months ago with my Wally store card, I forgot to update my payment info, and hence got a 30 late day tag.

Stupid move by me, but it will never happen again. I do want to go on a mini application spree. As I onyl have two cards (Walmart store of 150, and Cap1 with 1750 now). Looking for a travel rewards.

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PhillyPhoto
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Joined: Wed May 13, 2015 3:32 pm
Location: New England

Re: Reapplying with amex

Postby PhillyPhoto » Tue Jul 26, 2016 8:33 pm

Late payments happen, you just have to wait the 2 years or so for them to fall off. Thankfully they become less relevant over time.

Not sure which card you have now, but I think Capital One has some travel cards. If you're thinking about Chase, you may want to try them as one of the first because of their 5/24 rule (The Points Guy breaks it down pretty well). He also has a good breakdown of travel cards in general, so be sure to browse around his site. Some of it is for heavy spenders, so make sure it works for both you and your budget.
Main Cards:
Amex: Mercedes-Benz Plat, HHonors
Chase: Amazon.com Rewards, Freedom
Citi: ThankYou

Sock drawer Cards:
Amex: Ameriprise Gold
Citi: Macy's Amex, Simplicity
Citizens Bank: Cash Back Plus World
Discover: it
Elan: Bank Rewards
Synchrony: PayPal Extras

718 Eq|734 TU (8/16)|733 Ex (9/16)

takeshi
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Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Reapplying with amex

Postby takeshi » Wed Jul 27, 2016 4:29 pm

Don't rely on prequals.

If you paid them you're probably not blacklisted.

Random_buyer wrote:My score is low mainly because of my utilization. (49% on CK, and 79% on creditscorecard). However, a couple of days ago, I got a CLI approval of 1k, and applied a payment where now my uti should be 10-15%. So once cap 1 reports it to the bureaus, my score should jump a bit.
The other reason is late payment, 3 months ago with my Wally store card, I forgot to update my payment info, and hence got a 30 late day tag.

Lower Revolving Utilization will help a bit but your big problems are the late and the collection. Derogs -- especially recent -- tend to have a significant impact. You should really see if you can do anything to get them removed.

PhillyPhoto wrote:Late payments happen, you just have to wait the 2 years or so for them to fall off.

It's a lot more than just 2 years. 2 years is for inquiries. 7 years for most negatives.

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PhillyPhoto
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Posts: 104
Joined: Wed May 13, 2015 3:32 pm
Location: New England

Re: Reapplying with amex

Postby PhillyPhoto » Wed Jul 27, 2016 5:25 pm

takeshi wrote:
PhillyPhoto wrote:Late payments happen, you just have to wait the 2 years or so for them to fall off.

It's a lot more than just 2 years. 2 years is for inquiries. 7 years for most negatives.

Thanks for the clarification!
Main Cards:
Amex: Mercedes-Benz Plat, HHonors
Chase: Amazon.com Rewards, Freedom
Citi: ThankYou

Sock drawer Cards:
Amex: Ameriprise Gold
Citi: Macy's Amex, Simplicity
Citizens Bank: Cash Back Plus World
Discover: it
Elan: Bank Rewards
Synchrony: PayPal Extras

718 Eq|734 TU (8/16)|733 Ex (9/16)

NYC_Dweller
Centurion Member
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Posts: 192
Joined: Wed May 18, 2011 1:16 pm
Location: NYC

Re: Reapplying with amex

Postby NYC_Dweller » Sat Jul 30, 2016 8:39 am

Random_buyer wrote:Hello all,

I'm new, so excuse me if this question has already been answered..

I was an amex green card user in 2013, and my balance was sent to collections and I paid it all off (same year).

Does anyone know if I'm blacklisted, as I've tried doing a pre qualify with no offers. Maybe my scores are too low. 630s currently.


Hello & welcome,

It'll take a bit more time since Amex started the collection process in 2013. Are you carrying other balances?

MemberSince99
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Re: Reapplying with amex

Postby MemberSince99 » Thu Aug 11, 2016 9:46 am

Only one way to know if you are blacklisted and that's apply.

If you don't get an experian hard pull and are declined due to.previous delinquency then you are on their list.



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