I would like to have an Amex account again...

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denela
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I would like to have an Amex account again...

Postby denela » Sun Sep 09, 2012 12:48 am

Hello! I'm brand new to this forum though I have been reading quite a lot. Apologies in advance if this is too wordy! :)

I had a green Amex in college....don't remember applying for it, though I'm sure I did. It was either opened in 1989 or 1990. I always handled it well, was proud to have it (surprised I got it! It was my first ever card.)...I graduated in 1991 and got married later that year, and made the bad decision to put my husband on the account too. He was always into electronics and would buy something each month, a printer or a monitor, eventually laptops....and then would take them back in 30 to 45 days. Odds and ends would be purchased too, and meals, anyway, we should have been paying more back in payments each month (actually paying the account off - it had to be paid off each month), but the whole thing snowballed and ultimately, Amex didn't like the activity and cancelled the account...I vaguely remember a collection agency acting for Amex, and then a demand of payment in full immediately, which we didn't have. This was 1993 or 1994 or so. We got a loan through...Transamerica? I think we got that completely settled and paid off in about two years...I think it was about $3K. I don't believe it was a charge off, and the entire amount was paid back by 1995, I do recall that much. (And we were divorced by 1999.)

Looking back and thinking about it, I really don't understand what he was doing or how it was supposed to have worked out, but I was disappointed in myself for not having more backbone with him about finances (there were other episodes), and for for allowing my credit to get so messed up. Fast forward to now. I have been delightfully, happily remarried for nearly 12 years to an awesome and responsible man, successfully self-employed for the last ten years, generally doing alright despite a bump or two along the way.

I would like to have an Amex card again. Am I likely to be cursed forever in Amex's eyes? I would either like the Delta SkyMiles card (longtime fan of Delta, though not as frequent a traveler as I would like) or the Blue Sky card....should I just forget it? I don't want the hard inquiry if it'll be a bust. I admit I'm curious about the backdating of the account, though I'm also scared to bring it up if by chance it's long enough to be 'off the radar' (if that ever happens!).....please, let me know your opinions on this?

Thanks in advance for your help. Best to you!


CC Deville
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Postby CC Deville » Mon Sep 10, 2012 4:43 pm

So, if I understand this correctly, you paid the entire balance in full in 1995? As long as it was paid in full, you shouldn't have any trouble obtaining a new Amex card now in 2012 provided you have a solid credit score, a verifiable income and no recent lates. There are people on these forums that screwed Amex over within the last 10-15 years and were able to open new accounts-even though the past accounts still had an unpaid balance.

As far as the Member Since year: sometimes they automatically find the old account and will automatically backdate the new account. You'll know right away when you receive the card in the mail and set up the account online. In the perfect scenario the card would say Member Since 89 and if so, then when you log in online it will say Welcome Denela North Carolinian, Member Since 1989. Some people have reported that their card says Member Since 12 but when they go online it says Welcome Denela North Carolinian, Member Since 1989. If so, a quick call to Amex alerting them that your Member Since date is 89 and they will send a new card.

On the other hand....they may no longer have record of your old account, and therefore, no backdating. If you have that old account number, or the account number they used to report it to the bureaus, you may be able to get them to find record of the old account. When you call, you do not need to alert them of the previous paid charge off, just let them know that your Member Since year should be 1989 or 1990. A good rep will know what you mean (do not refer to it as backdating...always refer to it as your original Member Since year). They have a department known as an archive department that can often times find the old account and then they will backdate the new one. This is a Your Milage May Vary (YMMV) situation.

Crashem
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Postby Crashem » Mon Sep 10, 2012 5:08 pm

Not enough details or too many details to see if you are blacklisted. In any case, just apply for a charge card. They are easier to get and zync being the easiest. If blacklisted, it will just reject you with no effect on credit. Call them in that case. Otherwise, it won't make a difference and see if you can get approved.
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

denela
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Postby denela » Mon Sep 10, 2012 5:50 pm

Thanks, CC! When one is self-employed, how do they typically verify income?

Also, Experian or Equifax? I have been reading through much of the forum and it sounds like it could be either one.

fantasy86dj
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Postby fantasy86dj » Tue Sep 11, 2012 4:13 am

Welcome to the forum!! As an Australian I dont know that much about how stuff works but here is a bump to get the thread to the top of the list for you

jeffysdad
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Postby jeffysdad » Tue Sep 11, 2012 7:26 am

Denela, after you decide which Amex card you want, you might see if a current cardholder can give you a referral, generating a bonus for that person and possibly helping your case with Amex. If you opt for a Blue Cash Preferred, I could give you a referral, as could many others on this forum.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

CC Deville
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Postby CC Deville » Tue Sep 11, 2012 3:26 pm

denela wrote:Thanks, CC! When one is self-employed, how do they typically verify income?

Also, Experian or Equifax? I have been reading through much of the forum and it sounds like it could be either one.


Well, for the most part they will take your word on your employment. But I believe being self employed puts you at a greater risk of a Financial Review. A Financial Review is nothing to worry about. Just be truthful on your application and no sweat. I would use the number for income before your standard deduction. So to answer your question, the way that Amex, or any other creditor for that matter, can verify income is to request your tax records directly from the IRS. They would send you an IRS form 4506T to fill out. Once you return it to them, they would request the records from the IRS. Now, I am not trying to scare you away and like I said, they are likely just going to take your word for your income. And just keep in mind that if they want the 4056T form filled out, no big deal. I have heard of people who applied with Citibank being told that they need to do the 4056T form before they can be approved, so it is not unheard of.

Again, please do not let what I wrote scare you away from Amex. Let us know how the application goes!

hematino
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Postby hematino » Wed Sep 12, 2012 1:31 am

denela wrote:Also, Experian or Equifax? I have been reading through much of the forum and it sounds like it could be either one.


For American Express cards that are actually issued by American Express (i.e.- NOT the Citi AAdvantage Amex, Fidelity Investment Rewards Amex, etc-- only cards listed on the American Express website), they are known to almost always pull Experian. An exception would be if you have your EX score frozen.
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denela
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Postby denela » Wed Sep 12, 2012 7:42 pm

CC Deville wrote:Again, please do not let what I wrote scare you away from Amex. Let us know how the application goes!


Ah well. I applied for the Delta card and was declined. There was a laundry list of problems which I was not aware of (I check my credit *frequently* through USAA's CreditCheck Monitoring). I knew my utilization might be too high, and that was one of the issues...other things were - to be honest, the young Indian woman sounded very capable, but it was hard to understand all she said. I pulled my 3 credit reports about a month ago, and aside from high-ish utilization, some of the issues (I think) she said I am unaware or unsure of. I won't say until I have the letter in my hand, so I can see how to best correct it. I will be asking for advice. Again.

I have been trying to see the online status, but it just sits and spins, and eventually I get an "Internal server error". This is going to https://www262.americanexpress.com/blah/blah/blah, which looked a little weird. I can check my credit report again in the morning to see that I for certain have a hard inquiry on it.

One thing I know of is that it was said that I had too many lates (!!!). I had one late on my Chase/Pier1 account which happened back in June 2007, when the account converted from Pier1 to Chase/Pier1. I knew it was going to convert, but when I got the new statement (different color, different print, different size envelope), I thought it was junk mail and threw it out. Totally blitzed on it. When I realized something was amiss, I was at the 30-day late point. They reversed the late fee as a courtesy, but didn't change how it was reported. Payment status reads as "Paid, was past due 30 days"(only on Experian, not the other two, they show paid/pays as agreed).

Probably stupidly, I closed the account before it was going to convert (again) this time to WFNNB. I have one store card (my oldest CL at nearly 21 years!) that is now with WFNNB and I don't care for them, and rarely use the card, but I keep it because of the age. Before I closed it, I asked if they would as a courtesy change that, but they wouldn't. I didn't really think they would, but I was hopeful. In any case, that was one of myriad reasons that I'll be hurt by until enough time passes for that to fall off......will that payment status change once that month showing the late has dropped off, or will that payment status be there forever (the next seven years, as the account was closed 03/2012)?

denela
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Postby denela » Thu Sep 13, 2012 2:33 am

I was just able to refresh my report through CreditCheck Monitoring, and Amex pulled reports from all three CRAs. (!!!) Would you think that's because of my past (gone but maybe not forgotten) with them?

I wish I had waited one more day...there was a medical collection I had paid off, and was waiting to drop off (from TU only). It was still there yesterday, but is now gone. My TU FAKO shot way up (as I expected). I should have waited, though it ultimately likely wouldn't have mattered right now anyway.

*sigh*



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