Credit Tips: American Express Credit Card Approval After Derogatories on Credit Report

Posted On: July 11, 2006

Author: dascxs
Posted: Tue Jul 11, 2006 7:41 am
Post subject: How did I get an Amex?

When I was going to school in the mid to late 90’s I wasn’t making beans and overextended myself. At that time I had a DMB MC ($2100), FNANB Visa ($500), Circuit City ($500), Wards ($500), CompUSA ($2600), Sears ($1200), AAFES ($1500), Best Buy ($1500) and Amex Green. I also had a $3000 installment loan at $138/mo.

By 1999 I had late payments on most. I was over limit on DMB, which eventually went into collection then default, along with Best Buy and Amex. By 2001 I still owed on most of these cards, which were C/O. The installment account was PIF as agreed. I had a Capital One Visa ($3000) which I paid on time, and a car note which I paid on time. No derogatories since late 1999. In 2003 I was buying a house and reached agreements to pay off all debt. I was making quite a bit more money and could wipe it all out at once. Oh, I also had a $60 collection on my report from some dentist who never sent a bill.

In 2004 I applied for Amex Gold Rewards Plus and was approved. I am only estimating, but my fico at that point must have been 625ish with some derogatories still there. I’ve been charging around $2000/month. Fico is now 770 with a clean report, no balances, a mortgage and car note. I now have Amex Platinum (the real one) and Citi Platinum Select Dividend, as well as that old Cap1 card. I’m pretty fanatical about my credit now and I am pushing for an 800+ score.

How did I get that Amex in ‘04? I heard that was a tough ticket, and I had just settled with them a year before.

Author: QikPass
Posted: Tue Jul 11, 2006 9:00 am
Post subject:

You have AMEX Charge cards..(which you pay a fee to use) I doubt they would mind extending you that instead of a “Credt” card.

But in any case.. good luck with your new found credit freedom.

Author: hdporter
Posted: Tue Jul 11, 2006 10:33 am
Post subject: American Express Credit Card Approval After Derogatories on Credit Report

I find the story interesting. I had heard stories that Amex blacklisted old collections, even after paid.

I had an Amex Green for about 4 years in the mid-80’s. I got carried away on vacation and racked up charges I ultimately couldn’t payoff at the next statement, and in fact, I went 90 days late with part of the balance (payments were due upon statement receipt at that time).

The account was closed and I immediately paid up the outstanding balance, before it went 120 days del. I’ll note that in the preceding 3 years to that I went 30 day. del a handful of times (i.e., missed my first statement due date).

I’ve never heard from them again. I can’t say whether I’ve received solicitations via the MBNA affiliated card, but I’ve never received an invitation for a standard Amex card. My scores run about 725 at the present time. Because I don’t apply for cards without a mailed invitation, I’ve never tried to get a card. I’m not particularly keen on a card at this time, but it sounds like my application could be approved. (Still, I take the no mailed applic. to be a negative signed.)

author: dascxs
Posted: Tue Jul 11, 2006 11:22 am
Post subject:

I didn’t have an invite. I just applied on the site.

Still, I don’t think I will be asking them to change my “member since” number from 04 to 96 based upon my checkered past with them.

I think you would be ok.