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.