I opened an AMEX account way back in 1989. I closed the card after going through a bad divorce, and had a charge off in 1997. Suddenly I have four soft pulls from AMEX and the reason given was for an account review. They still report that old account opened in 1989, but say it was paid, never late. What's their game?
Amex Works it Options Forever Amex historically hasn't sold its defaulted accounts to junk debt buyers (that may change now that it's a bank). What it has done is attempted to collect on them forever by means of watching for the debtor's financial recovery and in the appropriate case offering entry into its OASIS program (with an Optima card as a carrot) for debtors who it thinks can and will pay off the old chargeoff.
I know it's a great help to have that reporting the way it does, but I just didn't know why they did a soft inquiry 4 times in two days unless they plan on trying to collect on that old CO from 97. It's way past SOL, but it's just annoying to see them checking my credit so often.
