Excellent credit today - but multiple charge offs from many credit cards 12 years ago

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mdawg
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby mdawg » Tue Nov 10, 2015 5:11 pm

I haven't tried to apply for AMEX lately, but between newer credit cards and increased lines on older ones I am at right around $300,000. unsecured credit available on credit cards now - not even including credit lines, just cards! I pay all balances in full each month!

My FICO is above 800 now most of the time, with some fluctuations. I have noticed that if I say make a large charge on a card that near maxes it out, my FICO score drops a number of points that month, until the next month when it shows all paid off again and it goes back up.

YES it is possible to rebuild your credit to where it once was! (I'm not quite back to where I was, but I am steadily working on it.)


mowglidude
 
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby mowglidude » Sun Nov 29, 2015 2:59 pm

I had three AMEX accounts back in 2005, that were removed from my bureaus long ago. Since then, I’ve always wanted to get another card with them, but knowing I defaulted for quite a bit of money. When I started my job last January, part of my employment was to have an AMEX Corp Card for travel and expenses. I was freaking out back then thinking this credit denial, would keep me from a job.

I had to apply for the card through AMEX, using my companies code or something. To my amazement, I was approved, through AMEX. I have heard of a blacklist they keep. Also, the corporate card is in my name, no mention of the company on the card. On the statement mailed to my house, the bill is in my name with company name on second line, before address.

Also, I just recently noticed, there was a hard credit pull/inquiry on Experian around that time back then. So my question is, the fact that all the above happened and the AMEX derogs are not on my bureau, could I possibly be eligible for another card, when my score increases, or now, based on my being approved for the corp card with a hard credit pull?

Also, I've noticed AMEX soft pulls almost every month the last two years. Sometimes there is a two or three month gap and other times its twice a month or every month. Does that mean it's promotional? and if so, could that mean I'm not on blacklist?

mowglidude
 
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby mowglidude » Sun Nov 29, 2015 3:01 pm

Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago
by mdawg » Tue Nov 10, 2015 5:11 pm

I haven't tried to apply for AMEX lately, but between newer credit cards and increased lines on older ones I am at right around $300,000. unsecured credit available on credit cards now - not even including credit lines, just cards! I pay all balances in full each month!

My FICO is above 800 now most of the time, with some fluctuations. I have noticed that if I say make a large charge on a card that near maxes it out, my FICO score drops a number of points that month, until the next month when it shows all paid off again and it goes back up.

YES it is possible to rebuild your credit to where it once was! (I'm not quite back to where I was, but I am steadily working on it.)


How did you do this?

mdawg
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby mdawg » Thu Feb 04, 2016 1:35 pm

mowglidude wrote:

How did you do this?


Seven years after date of last payment (which I paid nothing anyway), bad credit drops off your credit profile. I had a couple of judgments against me but they disappeared too, and most all of my creditors did not bother to sue me and the few that did as I mentioned only a couple took it all the way to judgment. No one collected a dime from me - all my assets and income are protected in trusts. Because I had nothing to worry about as far as anyone collecting from me, bankruptcy was unnecessary.

After my credit was clear again it was just a matter of high income and steady work applying for one card or credit line after another, raising the limits through regular requests, and paying off all balances in full on time. Current result, over $300K in unsecured credit now available in credit cards alone, plus a lot more in credit lines.

Nixon
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby Nixon » Thu Feb 04, 2016 3:28 pm

mdawg wrote:
mowglidude wrote:

How did you do this?


Seven years after date of last payment (which I paid nothing anyway), bad credit drops off your credit profile. I had a couple of judgments against me but they disappeared too, and most all of my creditors did not bother to sue me and the few that did as I mentioned only a couple took it all the way to judgment. No one collected a dime from me - all my assets and income are protected in trusts. Because I had nothing to worry about as far as anyone collecting from me, bankruptcy was unnecessary.

After my credit was clear again it was just a matter of high income and steady work applying for one card or credit line after another, raising the limits through regular requests, and paying off all balances in full on time. Current result, over $300K in unsecured credit now available in credit cards alone, plus a lot more in credit lines.


You sir, Are a model for others. :)
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thom02099
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby thom02099 » Fri Feb 05, 2016 12:14 am

Martin? Martin Shkreli? Is that you????
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

mdawg
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby mdawg » Mon Jun 13, 2016 11:21 pm

Even though I have an 824 score now
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and my combined unsecured credit card lines now top $325,000., not even including unsecured credit lines, I'm still apparently on AMEX's black list even some 14 years after the events in question.

I got a call from AMEX inviting me to get a business charge card with them. At one time I had a special corporate business card with them with NO personal guarantor that had a just under seven hundred fifty thousand dollar line, with ability to charge even more with approval, and I never abused that corporate card at all, was always paid off on time. But, as noted above, my personal cards ended up leaving AMEX owed a couple hundred fifty K, and then when that happened they cancelled my corporate card too.

Anyway, I listened through the entire phone spiel and went through the application, took about half an hour, until finally at the end, DENIED. I clicked on the letter and saw the standard "in as much as your prior AMEX accounts were cancelled" spiel, so I doubt my credit was even run, just denied out of hand. Just for the H. of it I will appeal, especially asking them why they called ME just to waste my time, and see what happens. But every creditor I can think of out there has extended me credit now except AMEX. They apparently have a long memory.
Last edited by mdawg on Mon Jul 25, 2016 10:37 am, edited 3 times in total.

Nixon
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby Nixon » Tue Jun 14, 2016 5:18 am

AMEX aren't to be trifled with.
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mdawg
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby mdawg » Mon Jul 25, 2016 1:11 am

Received a letter from them after I asked for clarification, that said basically, "we did not attempt to collect and forgave the quarter mill, but in exchange, you're not getting another AMEX card. Sorry that we called you to offer one; was a mistake."

MemberSince99
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Re: Excellent credit today - but multiple charge offs from many credit cards 12 years ago

Postby MemberSince99 » Thu Aug 11, 2016 9:51 am

mdawg wrote:Received a letter from them after I asked for clarification, that said basically, "we did not attempt to collect and forgave the quarter mill, but in exchange, you're not getting another AMEX card. Sorry that we called you to offer one; was a mistake."


You have to admit that's a he'll of a debt to forgive. Sounds like your only option would be to pay them back the quarter million if you want back in on that.



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