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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.
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.
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.
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
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.
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.
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
Never had a discover card. Visa or MasterCard have been the others in my wallet
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