Will AmEx give second chance after collections/chargeoff?

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tlp123
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Will AmEx give second chance after collections/chargeoff?

Postby tlp123 » Thu Aug 16, 2012 4:56 pm

Is this really happening?

Recently been reading posts across forums of new AMEX accts being granted to those with unpaid AMEX charge-offs. I'd always known AMEX to be very tough in issuing credit, not selling debt, and never forgetting their debtors, even past individual states collections statute of limitations.

What's changed?

Sorry if all this has been asked before. Seems to be lots of knowledge in this forum.

Appreciate some clear info on this.....

Many thanks
[font=Verdana][/font]“The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools.” — Thucydides[font=Book Antiqua][/font]


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tlp123
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Postby tlp123 » Sun Aug 19, 2012 8:14 am

Anyone????
[font=Verdana][/font]“The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools.” — Thucydides[font=Book Antiqua][/font]

darobin77
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Postby darobin77 » Thu Aug 23, 2012 5:53 pm

This will fall into the YMMV category.

yes they extended people credit, me being one of them but there is no rule or reason on how and when they do it.

i BKd them on 2 cards. paid one, waited a month applied for a card and got it. i still owe them.

no i have 3 personal and 2 business cards with AMEX... but YMMV :D

CC Deville
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Postby CC Deville » Thu Aug 23, 2012 7:58 pm

Some people have been offered what is called Amex Oasis where they will open a new Optima card for people with past, indiscretions. Others have been offered a chance to put up $10K in an AMEX savings account and would be issued a new card (though I am unclear if it is a charge or credit card and not sure if the limit would be $10K as it is not really a secured program).

There was someone else here, I think Membersince99 who was able to get two new Amex's after previously charging one off but then when he applied for a third he ran into some issues.

This is for sure a Your Milage May Vary (YMMV) situation. I guess because so many Americans have scandalous credit, even AMEX has had to loosen their standards.

Crashem
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Postby Crashem » Thu Aug 23, 2012 10:56 pm

Oasis requires you to make good on your old debt. People have been getting into Amex after blowing them out of the water. However this is the exception not the rule. In some cases, it seems old chargeoffs have fallen out of the system and not easily accessible to Amex approval engine, and may come back to haunt you if/when they tie old accounts to new accounts. In others, it seems like they may be aware of old debts but don't care, but the amounts were typically pretty low.
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Postby Crashem » Thu Aug 23, 2012 10:58 pm

BTW, can't hurt to apply when your scores are good enough. If you are on the blacklist, you won't even get an inquiry as blacklist is checked first. So no harm.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

7Figures
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Postby 7Figures » Fri Aug 24, 2012 2:52 am

daronin77 I Pm'ed you with questions.

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tlp123
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Postby tlp123 » Fri Aug 24, 2012 7:05 am

Hmmm....sounds bizarre.

Thanks for all the replies.

Lots of knowledge in this forum.

Ciao
[font=Verdana][/font]“The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools.” — Thucydides[font=Book Antiqua][/font]

craigm1
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Postby craigm1 » Fri Aug 24, 2012 9:08 am

I had an amex gold and optima in 94 and must have had about 15k charged off total, in 2008 they sent me a pre approved offer for a blue sky with a 3k limit and 3.99% transfer offer. I switched the card to a blue cash a year later and now the limit is 30k after putting between 3-4k a month on the card. my card even says the original member date 1989. They solicited me so not sure how it would work if you tried to get a card via unsolicited app. I think to try and get a lower tier card like a zync or green card to get your foot in the door would be the way to go as long as they see use and regular payment they will reward.

Good Luck,
Craigm
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7Figures
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Postby 7Figures » Sun Aug 26, 2012 12:04 am

My question is for anyone that can answer that cards back how long after the CO/BK etc was the new card issued? Also did they back date? What was your credit like? I charged off back in on AMEX for $18k. I BK'ed in 08/08 and now I'm interested in how I can get back in the AMEX fam. Its not priority but if it could happen it would be nice I have a few other high limit cards now after rebuilding and I'd just want an AMEX charge card again.



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