I had a charge off from american express 20 years ago, would it still be in their the system. I have very good credit now but have not applied for an american express fearing that I will be rejected Thanks
2007-02-25 00:04:18 · 5 answers · asked by Paul S 1 in Business & Finance ➔ Credit
It can't hurt to try. But they probably have it on their records, and American Express is one of the more difficult accounts to get in general. Of all the available personal credit accounts, American Express has some of the highest fees. Business account is a different story.
2007-02-25 00:25:44 · answer #1 · answered by Mike M. 5 · 0⤊ 0⤋
If you do not have money to prevent the account from being charged off or if it has already been charged off by the lender, you can save yourself by taking the following steps:
Do not panic.
Accept you still have a chance to sort out the matter by negotiating with the actual lender or the collection agency responsible for your account.
Bargain for a lump-sum settlement with the creditor or collection agency. Aim to pay 50% or less, and ask the charge-off to be erased from your credit report as a pre-condition to the settlement. Many lenders will not accept it, but still make an attempt. If they accept, ensure they will update your credit report to tell your prospective creditors that the issue has been sorted out.
If you fail to cut a deal with the collection agency responsible for handling your account, wait till it is handed over to another agency. Ultimately it will be handed over or sold to an organization with whom you can deal to sort out the matter.
2007-02-25 23:08:20 · answer #2 · answered by queen i 1 · 0⤊ 0⤋
AMEX has one of the longest memories in the credit business.
The overwhelming probability is that it is still in the system.
You might be able to join their Oasis program and payback the chargeoff amount and then get a card.
But you definitely have to be in the Oasis program first.
American Express Oasis Program
888-232-3261
Good luck!
Mike
2007-02-25 01:42:15 · answer #3 · answered by bladerunner6 2 · 0⤊ 0⤋
why go stirring up old wounds.
you beat them out of their money and now you want them to just forget about it and give you more....
what if on page 93 in small print it says that 'if you previously owned a card with us, by accepting this card you agree to repay us all of the money that you previously didnt pay'?
My credit card had something in it that said if you are late on two payments then your interest rate will go up to 36%....I swear I dont recall reading anything like THAT! But there it was in enny teeny print on some obscure page in teeny print.
NOW they know where to find you and can screw up your credit (again)
LET SLEEPING DOGS LIE (lay?)!
2007-02-25 17:32:17 · answer #4 · answered by lisa s 6 · 0⤊ 0⤋
It is doubtful it is still in their system. Why do you fear it? The most they can do is say no to you. It is my personal opinion it would be no great loss anyway.
2007-02-25 00:09:13 · answer #5 · answered by Slimsmom 6 · 0⤊ 0⤋