How long til' creditors clear their databases of bad debts?

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How long til' creditors clear their databases of bad debts?

Postby centerville » Sat Oct 19, 2013 1:35 pm


Usually bad debts/credit gets cleared in the credit file after about seven years. Will credit card issuers (like banks, American Express, dept. stores, etc..) clear their databases from bad debts? After how long?


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Postby mafiaS » Sun Oct 20, 2013 1:52 am

i also want to know.

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Postby otter » Sun Oct 20, 2013 7:41 am

Depends on the bank/creditor. American Express has a reputation for "holding a grudge" for a long time and personal experience tells me there is an Amex Blacklist. (My baddy with them was in the early 90's and I was denied "because of a poor credit score" 10 yrs ago with a score over 700, no derogs and a 5 year AAoA. Other creditors probably are more forgiving, especially those who have been bought and sold several times.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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Postby DoingHomework » Sun Oct 20, 2013 3:37 pm

The thing is that even if the original creditor "cleared their databases" they may have sold your debt to another company.

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Postby takeshi » Mon Oct 21, 2013 7:49 am

If you've burned bridges and expect to rely on those creditors in the future then you may be in for some bridge rebuilding. There's no generalization that will apply to all creditors and you can't just rely on debts falling off.

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Postby centerville » Mon Oct 21, 2013 10:49 pm

Thank you all for your answers.

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Postby MemberSince99 » Mon Oct 28, 2013 9:33 am

Amex for sure does have a blacklist - I was on it as early as last year. If you are declined by Amex and they do not pull your credit and the reason they give for the decline is something to the effect of "your past account(s) were closed by American Express" that means you are on their blacklist.

Even if they let you back in, don't think they forgot. I have 3 of their cards and my 61 day CLIs were denied because of "past delinquencies". Yep, they still remember me.

Chase likewise is known to blacklist. They also let me back and denied a CLI because of past charge offs. Again they may decide they want to do business with you, but they didn't forget and they will protect themselves. Hard to blame them, but that's how it goes.

BofA is also known to remember, and I've read accounts of Citi remembering charge offs from the 80s. Discover will blacklist you and tell you that you can "never" have another Discover account but 20 years seems to be enough time for them to open the door again (maybe less that's just how long it was for me).

Bottom line here: even if they let you back in, you probably won't ever get really high limits with them again once you burn them, you might get over the bridge if you walk but don't expect to drive in, it may never be fully repaired. Or may, it's always always always YMMV, but don't count on it. Realistically you are better off to go with lenders you haven't burned before. That's my experience on it.

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