Amex MembershipB@nkng...

Discussion in 'Credit Talk' started by river, Nov 26, 2000.

  1. river

    river Well-Known Member

    Got a letter Saturday afternooon from MembershipB@nking saying that they closed checking acc't due to my 2 charge-offs(the 2 combined = $1,100.00) on my credit report. I still have my BofA checking acc't. I called and inquired about the $$ that I have been putting in acc't every week and they said that it would be refunded. Think I'll stick with my local bank here and take refund from amex acc't and apply it toward applying for anoter card. I wasn't really shocked when I got letter after reading Micheal's post a couple of weeks ago.I have the FCNB visa,Chevron,andOptima(which doesn't report) and not sure which one to go with now. Any suggestions will be nice.Regardless, things are looking better. I've only been on the road to rcovery for 2 months as of the 17th of this month. Disputed credit reports and got one back yesterday also. Equifax-had 3 deletes from that one. Still waiting for Experian and Transunion to arrive.Bad news and good news in the same day!!!!!
  2. John Debto

    John Debto Guest

    I know this may come as a shock, but, why don't you PAY the charge-offs ? Is that possible, I don't know the details.
  3. Killer

    Killer Guest

    OK River...I am through passing information along to others! I know you and maybe even others applied for Amex checking because of my posted conversation with AMEX. I am so sorry. If I had known that they ran a credit check, then I would not have posted. Most people who read this board probably have some damaged credit. Therefore, I would have never posted the suggestion! Sounds like now you have some money temporarily tied up now. Once again am I so so sorry.
  4. Michael

    Michael Guest

    Don't be sorry Killer that's one of the ways we all learn through trial and error.

    In this case a few of us got caught by AMEX'S hard assed policy. Beter that than a majority of us doing so.
  5. Saar

    Saar Banned

    You've got nothing to be sorry about. If people refrained from posting just because they weren't 100% sure of what they say, we wouldn't know half the things we know today.

    You don't owe anyone an apology, all they have to do is thank you for sharing your experience. Sharing is what this board is all about. If someone see a tip they like, they are welcome to use it, AT THEIR OWN RISK.

    This is much like a rerun of the roni story. I don't agree with everything she posts here. But to blame her for a citibank credit denial (as someone did) is an act of an imbecile.

  6. Dario

    Dario Guest

    Hello everyone, Okay my credit isnt the best and i opened an AMEX account (checking, money market, and savings). The whole process took maybe 3-5 days, and they didnt run a credit report. If all you want is to have a checking account with the AMEX logo on it apply for the AMEX membership banking account, just dont apply for overdraft. Then they won't run a credit report. Once you have had your account open for a little while you can always call and request that they put it on.
  7. river

    river Well-Known Member

    It isn't your fault . I happened to be on the Amex site before your post and applied... It's a waste of money on their part,as far as,having checks printed and ATM cards produced to send the customer a letter stating acc't closed due to credit report. They shold take a few days and then approve you. But we're tslking about Amex,one of the leading lending companies in the world. What bothered me was I just spoke with a rep Friday and was reassured that the acc't was set up and in place and there wasn't anything to worry about. Again, keep your posts coming in and don't take my lost personally,it's the part of the credit establishing game."Rome wasn't built in a day"--My motto with this credit re-building assignment.
  8. river

    river Well-Known Member

    john, I would pay the charge-offs if they were younger,but seeing that in 5 months they will drop off reports because of the 7 year SOL. Even if I paid the charge-offs it would still be on reports as charge-offs-PAID. Doesn't really change the negative status. Just like judgements,you pay them and they still remain,but reports satisfied. Alot of denial letters I recieve report reason for denial-judgement. What appauls me is employers using a credit report to judge a person for their character. Not all people abuse thecredit industry.Sometimes some are unfortuate enough to have ligit and good reason to get messed-up. Example: illness,tragedy,divorce and death of a spouse.Which one of these I have experienced. There are alot of unhappy marriages out there because they know if they go thru a divorce,their credit will be ruined and they will lose everything they have because they really, if the truth be known, survive on credit cards and the cash advances to pay other creditors and alot of partners can't make it on one income alone,when they have a family. Not to say,there are people that work hard at their credit and deserve a pat on the back,but they're a minority and the rest is the majority. Sorry for the long post.
  9. river

    river Well-Known Member

    The.... it isn't your fault.... post was in reponse to Killer. This post is in reponse to Dario... I didn't apply for overdraft, just a interest bearing checking acc't....but,no sweat,I would e upset if I didn't own a checking acc't period,but I do own a checking acc't with BofA.So,no big loss.
  10. Michael

    Michael Guest

    WRONG Dario WRONG!...

    Dario, I hate to be the bearer of bad news to you, especially when you think your right.

    Let me tell you that in about 3-5 days you will try to log into membership banking (on the phone), and your Social Security Number will come back as invalid.

    That's when you know your account also has been closed.

    These guys are running credit checks on everyone, and closing those with any blemishes on their report, as well as anyone with NO Credit.
  11. John Debto

    John Debto Guest

    There is no question that you should NOT pay these charge-offs, I didn't know what the time frame is. I had a charge-off from 1992 deleted in '99 and last week I received a letter from a company called 'ColdDATA' that bought it. I'm sure for the rest of my existence someone is going to seek payment on this periodically.

    They just better not lie about the dates and have it put on my reports again.
  12. river

    river Well-Known Member

    They should not be able to re-in- state it after 7 years. All connections to that debt should be decease and shouldn't even be around for someone to buy. I would thnk that is illegal after 7 years,could be wrong!!!!!!!!!
  13. Momof3

    Momof3 Well-Known Member


    From what I have read through various sites these collections agencies buy debts from years and years ago, even though the SOL have ran out and the 7 year clock for reporting. these agencies just hope and pray that they contact somebody that doesn't know the laws and they get lucky and make some money. they have been doing this for years. But thank goodness we have access to all types that deal with these very issues and we can find out what our rights are. Of course prior to 1997 and the new FCRA guidelines these slimes got away with more back then.

  14. Michael

    Michael Guest

    RE: River

    Also don't forget if you pay off this debt you then have the clock re-set for the drop off from your report.

    7 more years of this reporting "Paid Late"!
  15. Momof3

    Momof3 Well-Known Member

    they do try but it can't resta

    This is from Kristi's site:
    Good credit stays for 10 years and then it is aged off but can stay longer.

    Bankruptcies that, from the date of adjudication, (means decision) antedate (means predate) the report by more than 10 years.

    Collection accounts and charge offs remain for 7 years from first serious delinquency or charge off date NOT the last date of activity.

    Paying an old debt does NOT reset the clock for another 7 years.

    Suits and judgments that, from the date of entry or renewal, antedate (predate) the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period. It is important to know that some states report a paid judgment for xx years from time paid vs. time filed. This can mean a lot if you pay your judgment so be sure to read your states statute to find out.

    Paid tax liens that, from the date of payment, antedate the report by more than seven years. Paid tax liens are reported for 7 years from date paid not filed! So pay them quickly!
  16. Dario

    Dario Guest

    RE: WRONG Dario WRONG!...

    That's strange, because I have been writing checks using the atm and phone service and I have had no problems. As a matter of fact I just placed an order for more checks. So I really don't think they are doing credit reports for everyone just people that request overdraft protection. I mean I could be wrong, and I just slipped through the cracks but i doubt it.
  17. Mike

    Mike Well-Known Member

    RE: WRONG Dario WRONG!...

  18. Michael

    Michael Guest

    RE: WRONG Dario WRONG!...

    six people I know were denied accounts without asking for Overdraft.

    If you got through, your lucky.

Share This Page