- Centurion Member
- Posts: 4913
- Joined: Sun May 20, 2012 4:35 pm
- Location: WI
At first glance Amex appears kind of unfathomable. But in watching them I believe there is a method to the madness and it's not random weirdness, it's a business strategy.
They know they have no legal way to compel you to pay anymore - statute is LONG up on the debt. However, by letting you back in, they are still getting your business, and at the appropriate time and place they can drop it in front of you that paying your charge off would serve your interest to maintain the relationship with them. I am guessing they do a cost/benefit analysis and decide who they want to let back in (some don't after 25 years from what I've read) and then at what point do they remind you of the charge off with gentle hints that paying it would make things easier for you. If you pay it, great, it's money they wrote off long ago recouped, and if not, they are still making money off you in the meantime, and still have some leverage to try to persuade you to pay up.
That's what I'm seeing.
So I don't think you have to worry about your current card, they aren't going to close it on you if you don't pay. They just won't give you SPG right now, and who knows what in the future. You have to decide if it's worth it to you to pay them off or not. I guess do the same cost/benefit analysis they did when considering you.