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Old 12-06-2016, 04:29 PM
 
Location: Arizona
6,129 posts, read 7,962,576 times
Reputation: 8272

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Quote:
Originally Posted by GMarcan920 View Post
Here's the situation (a friend, not me):


13 years ago, a small company declared bankruptcy. American Express was invited to the filing to work out some kind of a deal, they chose not to attend, instead closed account which had a balance of $10K.


13 years later, person's credit is nearing 800, has own business, has a $400K house with a small mortgage, has managed to make himself successful, very successful.


AE sends applications which are all denied because of the bankruptcy, 13 years ago. He's called, spoken with supervisors, but they are quite closed to allowing him any kind of credit card they offer (he flies Delta for up to 150,000 miles per year and wants to use the AE as they are partnered with Delta).


Anyone have any ideas on how he can approach AE to at least have them allow him a card, perhaps with a smaller credit limit. BTW, he has other credit cards and there's no problem.
I believe they call that "Prior American Express experience has been unsatisfactory." From what I've read they won't give a new card to someone who was cancelled for nonpayment. Ever.
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Old 12-06-2016, 04:43 PM
 
31,735 posts, read 26,686,195 times
Reputation: 24603
Quote:
Originally Posted by johnp292 View Post
I believe they call that "Prior American Express experience has been unsatisfactory." From what I've read they won't give a new card to someone who was cancelled for nonpayment. Ever.


Wouldn't say "never". Had a college dorm-mate who got into trouble with AMEX a few years after graduation. He applied for a gold card and got it with a pretty decent spending level. However over thirty years had passed between the *unfavorable* event and his credit score by then was in the high 700's.


AMEX monitors accounts all the time; a few to many missed or late payments and you can find your limit cut and if things continue account will be closed to new purchases.


Largest problem many have with AMEX is understanding that it is *NOT* a credit but charge card. If you need a credit card they do offer that now, but otherwise bills are expected to be paid in full each month. AMEX does now offer on certain charge accounts various ways to "pay later", but shouldn't wonder how they view an account resorting to moving large sums each month over to "credit" for a prolonged period.
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Old 12-06-2016, 04:49 PM
 
Location: Saint John, IN
11,583 posts, read 6,699,896 times
Reputation: 14786
Bottom line, your friend filed bankruptcy which is a serious matter. He was relieved from paying the debt he owed to AmEx. which in turn was stuck not getting their funds they lent back. AMEX might have a policy that once one files bankruptcy against them, they will never offer them credit again. If your friend has other cards, what's the problem anyway? Honestly. I think it's kinda ballsy for your friend to even ask them for credit. Who's to say they just won't screw AMEX over again? I think you're allowed to file bankruptcy again after 7 years of filing. AMEX is not willing to take the risk.
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Old 12-06-2016, 06:28 PM
 
26,181 posts, read 21,472,844 times
Reputation: 22766
Quote:
Originally Posted by BugsyPal View Post
Wouldn't say "never". Had a college dorm-mate who got into trouble with AMEX a few years after graduation. He applied for a gold card and got it with a pretty decent spending level. However over thirty years had passed between the *unfavorable* event and his credit score by then was in the high 700's.


AMEX monitors accounts all the time; a few to many missed or late payments and you can find your limit cut and if things continue account will be closed to new purchases.


Largest problem many have with AMEX is understanding that it is *NOT* a credit but charge card. If you need a credit card they do offer that now, but otherwise bills are expected to be paid in full each month. AMEX does now offer on certain charge accounts various ways to "pay later", but shouldn't wonder how they view an account resorting to moving large sums each month over to "credit" for a prolonged period.
Most of their offerings are now credit cards 15 vs 4 charge cards offered on their website
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Old 12-06-2016, 08:50 PM
 
Location: Raleigh NC
25,119 posts, read 16,141,009 times
Reputation: 14408
Quote:
Originally Posted by CGab View Post
Bottom line, your friend filed bankruptcy which is a serious matter. He was relieved from paying the debt he owed to AmEx. which in turn was stuck not getting their funds they lent back. AMEX might have a policy that once one files bankruptcy against them, they will never offer them credit again. If your friend has other cards, what's the problem anyway? Honestly. I think it's kinda ballsy for your friend to even ask them for credit. Who's to say they just won't screw AMEX over again? I think you're allowed to file bankruptcy again after 7 years of filing. AMEX is not willing to take the risk.
based upon the friend's actions, and the OP's reaction suggesting that 13 years of time should be enough for someone to forgive 10K, I'm not surprised.
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Old 12-06-2016, 09:08 PM
 
7,898 posts, read 7,091,772 times
Reputation: 18587
Quote:
Originally Posted by GMarcan920 View Post
So no 2nd chances with Amex even after 13 years! Gees! Even murderers get a 2nd chance.


Thanks for the suggestions Aredhel, I'll pass them along.
Sure there is a second chance. He could pay his debt.


If someone owed me money, I would not forget, ever.
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Old 12-07-2016, 03:59 AM
 
Location: Pennsylvania
31,341 posts, read 14,169,098 times
Reputation: 27858
Quote:
Originally Posted by Lowexpectations View Post
I wouldn't say Amex blackballed this dude. They got stiffed and as of now have decided to no longer do business with him
BINGO!
Tell your friend to pay back the $10K he owes, I"m sure AE would allow a payment plan.
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Old 12-07-2016, 11:53 AM
 
5,462 posts, read 3,019,394 times
Reputation: 3271
Quote:
Originally Posted by GMarcan920 View Post
Here's the situation (a friend, not me):


13 years ago, a small company declared bankruptcy. American Express was invited to the filing to work out some kind of a deal, they chose not to attend, instead closed account which had a balance of $10K.


13 years later, person's credit is nearing 800, has own business, has a $400K house with a small mortgage, has managed to make himself successful, very successful.


AE sends applications which are all denied because of the bankruptcy, 13 years ago. He's called, spoken with supervisors, but they are quite closed to allowing him any kind of credit card they offer (he flies Delta for up to 150,000 miles per year and wants to use the AE as they are partnered with Delta).


Anyone have any ideas on how he can approach AE to at least have them allow him a card, perhaps with a smaller credit limit. BTW, he has other credit cards and there's no problem.
Why not offer to pay 10k???

Amex gave me the best customer service of all credit cards. I used 2 cards in 2 countries, but service was the same - exceptional.
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Old 12-07-2016, 05:06 PM
 
Location: C.R. K-T
6,202 posts, read 11,414,209 times
Reputation: 3809
Quote:
Originally Posted by Lowexpectations View Post
That's a terrible overreaction IMO. They are one of the best at customer service from what I've found and I typcially carry more than one payment method to prevent being stranded just as a general practice
Like a Discover Card overseas? haha
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Old 12-07-2016, 08:33 PM
 
26,181 posts, read 21,472,844 times
Reputation: 22766
Quote:
Originally Posted by KerrTown View Post
Like a Discover Card overseas? haha
Never had a discover card. Visa or MasterCard have been the others in my wallet
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