mdawg wrote:If it's a business decision for AMEX, they made a lot off me in fees during the years I was a cardholder. Given that AMEX makes, say, 2% of whatever is floated through there they may not have made that whole $200K I never paid them, but close.
So if they let me back in today, they'll keep making money with me. And I'm a little older now so I wouldn't allow my credit to go downhill again.
Of course I'm being facetitious and what I did did not leave me with any criminal record, but still - there's a reason why bad credit drops off after seven years. This country was BUILT on second chances.
given that the money was paid from merchants and not you, the only thing they made off of you is annual fees and APR you may have had to pay
that first line is a bit far fetched no?
you also can't promise something and expect a company to believe you'll go through, that's why the credit system is used so heavily, you can be the nicest person on the earth but when sh*t goes down you may not pay it all off again, what if the circumstances that lead you to stiff those creditors arise again? or something similar. no one can predict the future but how you've handled things in the past speaks volume about character and that's what they base it on, I mean speaks volume on ur credit
that said, ten years ago is a long time. people mess up, but it would be to your advantage if you present it a bit more..better, perception is a big deal in how people deal with you, and it would also be nice if you made attempts to settle now that your income is so great but pigs can't fly now can they
this country's 7 year forgiveness is actually more biblical then anything, if you read the bible you will see, same reason why there is in God we trust on the coins and dollars..this country started out very religious.