Dogman - paying Amex debt fro

Discussion in 'Credit Talk' started by Chet, Feb 8, 2001.

  1. Chet

    Chet Well-Known Member

    Hey Dog,

    I am paying a $480 Amex debt from my 1992 BK. This no longer appears anywhere on my credit reports, but I does still appear in American Express's data bank (it just appears as an unpaid debt).

    They said that after my balance is down to $0 that I should apply for another card!

    They said nothing about whether or not I had a chance of getting one!

    Do you think I should talk to a supervisor before applying? I don't want to apply just to be denied by their system because of the BK.


  2. Saar

    Saar Banned

    RE: Dogman - paying Amex debt

    chet wrote:
    "Do you think I should talk to a supervisor before applying?"

    Difficult to tell because you haven't said anything about your current credit situation. What are the negative items remaining? Do you have 2 tradelines open for more than 2 years?

  3. Chet

    Chet Well-Known Member

    RE: Dogman - paying Amex debt


    I have 11 - 15 good trade lines on all 3 reports some as old as 1988 (car loans, student loans & credit cards).

    The only negative I have on all 3 reports is a BK from 1992 (it's listed in the public records portion of my credit reports).

    The thing is this BK (which drops off in another year) causes me to be denied by almost all prime credit issuers. I think it is a default in their systems to "deny" any application that contains a bankrupcty! Just a guess!

  4. Saar

    Saar Banned

  5. Saar

    Saar Banned

  6. rick

    rick Well-Known Member

    Same Situation as Chet

    Hi Chet,
    I was in the same situation. I filed in April of 1991 (2 months to go, yeah!). I filed on Amex, and paid them off in November of last year (about $1000.). I currently have a Amex Banking money market ($5000 balance) but will wait until the BK falls off in two months to try for a new AMEX, thanks to a nice conversation I had with Dogman. I'm counting the days though!
  7. dogman

    dogman Well-Known Member

    RE: Dogman - paying Amex debt

    IM Proud of you buddy!
    NOW - call tomorrow - 1800334-0400 and talk to an ACCT MGR at Centurion Bank. Tell her you paid it -really want a NEW RELATIONSHIP
    with AMEX.

    Tell them you will open Membership Banking accounts, and will eventually use their AMEX Brokerage services.

    You would like a Personal Green Card to prove that financial situations change - and you want to build and prove an excellent
    new credit rating with AMEX.

    You would prefer the Green Card w/ Membership Rewards. It would help you reestablish credit very positively with
    AMEX. You have full control over your budget because you pay it off in full.

    You go for it. THEN, while the Acct Mgr waits - call 1800THECARD and apply on phone for instant approval or denial.
    If you qualify anyway, it'll come.
    If it bounces - like mine - the Acct Mgr watches the decline and overrides it.

    Chet, the computer snaps out the decline letter fast! I thought I wasn't going to get it - so called back to Melissa and she apologized for not telling me that I would get the decline letter first. The card was there the next day.

  8. dogman

    dogman Well-Known Member

    RE: Same Situation as Chet

    Hey nice seeing you here. Saar, Chet - you guys will dig this!

    When I was trying for the Gold (again), I told the Rep about my Chap 13 and said I was certain I was the only guy in the AMEX database with a past BK.

    The AMEX REP said, "you'd be surprised."
    I certainly have thought about that comment
    ever since.

    The most prestigious credit card firm on the planet considers their applicants with special needs on a one by one basis.

    I think you both will get the Card.

    Coming off a BK, AMEX O1 every month just issued is worth more than any $5-$10K limit card. It shows that AMEX checked you out and knew you had resources to get a Card.

    Other credit companies woll lower their rates instantly when you tell them you have AMEX.
    cya dogman
  9. Ender

    Ender Well-Known Member

    RE: Dogman - paying Amex debt

    Is AmEx willing to ever settle? My situation is that I had about a $14k debt with their Optima card about 4 yrs ago.. I haven't paid since and stopped hearing from them.

    I also now have a corporate credit card and use about $4k/mo and pay that off fully. What can I do to help rebuild my credit? I am working on everything else as well.. but this is specifically regaarding my amex Optima.. because I heard AmEx never settles? Any advice? Thanks in advance..
  10. dogman

    dogman Well-Known Member

    RE: Dogman - paying Amex debt

    I think the only way you'll ever be clear is to pay the full $14K. Amex keeps unpaid debt forever. They will clear you for $14K.
    cyA dogman
  11. lbrown59

    lbrown59 Well-Known Member

    RE: Dogman - paying Amex debt

    Dogman wrote:
    Amex keeps unpaid debt forever.
    To bad every one don't know this about them so they would not get any customers: lb

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