Prior AmEx charge off, will I get a second chance?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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jeff
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Prior AmEx charge off, will I get a second chance?

Postby jeff » Thu Jul 07, 2011 10:53 am

Hi...my first post, so please take it easy on me.

I had a green card about 8 years ago. About 5 years ago I fell on tough times and wasn't able to pay my balance off. My account was eventually canceled by AmEx; and I paid off the remaining balance a few months later.

Fast forward to today, my financial situation is much improved as well as my FICO scores. I would like to get an AmEx again...but am wondering if its even worth it for me to apply considering my past with them. Thoughts?


Money card
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Postby Money card » Fri Jul 08, 2011 9:12 pm

I absoutley think it's worth applying again, the bad economy is not your fault, I'm sure there are some people who have charged important items and are having problems paying back. I would certainly apply for the green card again. explain to them what happened and tell them about your improved fico scores. what's the worst that could happen, they may say you don't qualify or they may give you a card you never know. they may also say you don't qualify for the premium cards but you qualify for the smaller cards like Blue cash, Blue
or the clear card would you then be intrested?

prosper81
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Postby prosper81 » Fri Jul 08, 2011 9:19 pm

I would definitely give it a shot. But you might want to consider applying for the basic gold card. Two of my friends applied for the entry level gold amex and they were accepted and their FICO scores were only slightly above average.

craigm1
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Postby craigm1 » Sat Jul 09, 2011 4:21 pm

I filed bankruptcy in 94 and had a gold and optima card about 12k was charged off. in 2008 I was given a pre-approved blue sky card with a $3100 limit. I converted it to cash card and now have a $15,000 limit there is hope. What I think is weird is everyone says the credit cards are harder to get then the credit.

Craig
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jeff
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Postby jeff » Mon Jul 11, 2011 7:31 pm

Thanks for the help, guys. The card I really wanted was the Delta Gold Sky Miles...but I chickened out and applied for the Zync card...which I was approved for.

I am assuming I have to wait 12 months before upgrading to a Delta card. Does that sound right?

craigm1
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Postby craigm1 » Tue Jul 12, 2011 9:02 am

pound every dime you can afford to pay every month on the card and you will be rewarded with better credit line and ability to upgrade cards!!!!!!!!!!!!

craigm
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
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Great_Credit_Now
 
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Will I be able to get another American Express?

Postby Great_Credit_Now » Fri Oct 14, 2011 4:57 pm

10 years ago I had a business failure and defaulted on a Platinum card as well as an Amex Delta Sky Miles Card, owing more than $50,000 in total. Amex never sued me, they simply turned me over to a collections agency who only wrote me letters for a few years.

I never declared bankruptcy, rather I chose to just ride out the impaired credit for seven years and rebuild my life.

Now, I've re-established myself financially and my credit scores are in the 770 range. I've re-established credit with other vendors.

Will I ever be able to get another Amex card? If I apply, will they try to collect the old debts?

ooxs
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Postby ooxs » Sun Oct 16, 2011 12:25 am

There is a possibility that they will try to collect, in my opinion i recommend you stay away. Why wake a sleeping lion? While I understand why you will like to have an Amex Card, why not settle for Chase Ink if it is for business or Sapphire Preferred

CC Deville
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Postby CC Deville » Sun Oct 16, 2011 7:01 am

Great_Credit_Now wrote:10 years ago I had a business failure and defaulted on a Platinum card as well as an Amex Delta Sky Miles Card, owing more than $50,000 in total. Amex never sued me, they simply turned me over to a collections agency who only wrote me letters for a few years.

I never declared bankruptcy, rather I chose to just ride out the impaired credit for seven years and rebuild my life.

Now, I've re-established myself financially and my credit scores are in the 770 range. I've re-established credit with other vendors.

Will I ever be able to get another Amex card? If I apply, will they try to collect the old debts?


They cannot attempt to collect on the debt as the statute of limitations has run out. But they will not give you another card after you stuck them for $50,000.

I mean, I don't want to sound rude or judgemental, but this would be the same thing like if you allowed your neighbor to borrow your $50,000 car and he wrecked it, would you really let him borrow your new replacement car? You actually got off lucky, Amex usually doesn't play like that (simply sending to collections) and they usually go after people who screw them over with a judgement.

if you really want an Amex-branded card you may have to look into Citibank, BofA, Macys/Bloomingdales or GEMB-Dillard's Amex. Basically, a bank-issued Amex.

ooxs
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Postby ooxs » Sun Oct 16, 2011 11:36 am

The only problem here CC D is depending on the state GREAT reside, the statute of limitation can be completely different from your state. Various states allow anywhere from 2 to 15 years to collect delinquent debt , some even more, with the amount involved, my only recommendation is to stay away and let the lion sleep. As you indicated they have/had the option to go above and beyond to collect what is legally owed to them but they choose not to. I don’t think any card American Express offer is worth the headache.
Even if nothing, the denial rate is 98.99%



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