- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
I'm absolutely no expert on these things, but I think your paying late is what tipped things; then they pulled your report and added any negative details they could find to rationalize what they wanted to do in the first place: close your account.
I wouldn't worry about it; get another account with someone else.
However, you should be working at paying off your debt as fast as you can. I don't know your circumstances, but do the best you can. When you don't owe anyone anything then you are in a position of real power in dealing with cc companies, banks, etc.
About 10 years ago I had more than 35k in cc debt. I thought I would always be in debt; it just seemed like such a fantastic amount that I would never pay it back. Then I snapped out of the denial and buckled down and paid it all off, in full, always on time, always at least min. payment over about 2 years. It never occurred to me to do seek charge-off, etc. I've always had stellar credit because of this and now when I read about people having accounts pulled, etc., I realize that I could be in that situation if I had let that debt roll.
When you get yourself in an unassailable position with regard to your credit you will enjoy getting on the phone with those dirtbags at amex and making them squirm. Good luck
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.