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PIF Amex C/O when will it fall off reports


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The last post in this topic was posted 2727 days ago. 

 

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A friend just recently paid off their C/O Amex account and got the Optima Card last month. Ive read that once you pay off Amex in full and get a Optima Card, the negative tradlines "fall off" your reports. Has anyone had recent experience with this?

 

 

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I honestly do not see how that could be true. However, I've never had a c/o with Amex and I don't have an Optima card.

 

I would think that a c/o is going to stay reporting regardless of paying it off, unless you did a PFD or the 7 year mark has passed.

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I honestly do not see how that could be true. However, I've never had a c/o with Amex and I don't have an Optima card.

 

I would think that a c/o is going to stay reporting regardless of paying it off, unless you did a PFD or the 7 year mark has passed.

 

Its been reported on this board that once its PIF the tradline eventually falls off much sooner then the 7 year mark. Im hoping its still the case and that they have not changed like with the D*

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I honestly do not see how that could be true. However, I've never had a c/o with Amex and I don't have an Optima card.

 

I would think that a c/o is going to stay reporting regardless of paying it off, unless you did a PFD or the 7 year mark has passed.

 

Its been reported on this board that once its PIF the tradline eventually falls off much sooner then the 7 year mark. Im hoping its still the case and that they have not changed like with the D*

 

Reported specific to Amex?

 

Many people have PIF their c/os, yet they continue to report for the full 7 years.

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I honestly do not see how that could be true. However, I've never had a c/o with Amex and I don't have an Optima card.

 

I would think that a c/o is going to stay reporting regardless of paying it off, unless you did a PFD or the 7 year mark has passed.

 

Its been reported on this board that once its PIF the tradline eventually falls off much sooner then the 7 year mark. Im hoping its still the case and that they have not changed like with the D*

 

Reported specific to Amex?

 

Many people have PIF their c/os, yet they continue to report for the full 7 years.

 

 

This is Amex specific. I read and was convinced that when you PIF Amex they tradlines will eventually disappear, but since they changed their D* policy, Im wondering if they changed the deletion policy as well.

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AMEX has changed that program around a lot over the years and I think in the older Oasis threads from say before 2009 or so there were posters who had an AMEX C/O drop off or they were able to have the derogatory account deleted off after paying and getting a new Optima card. I don't recall reading any reports of it lately though.

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In approximately 2011 I had this happen to me. I had a AMEX Premier Gold Rewards card that I could not pay. First, they dropped my unlimited credit line due to my credit score dropping, then they closed the account soon after. They sent me a letter stating that if I paid the full balance owed (within a certain time frame) they would offer me their Optima card. So I figured this would be a good way to stay in with them so I paid it off (about $1500 to $1800.00) in a couple payments over a short period of time. They sent me a letter stating that they would not report negatively on my credit report since I paid in full and offered me the Optima card with a $500.00 limit. I accepted the offer. Today that gold card is still on my report with a zero balance reporting as a paid closed account. I have never received a credit limit increase on the Optima card and it's my understanding that they never will. Hope this helps!

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AMEX has changed that program around a lot over the years and I think in the older Oasis threads from say before 2009 or so there were posters who had an AMEX C/O drop off or they were able to have the derogatory account deleted off after paying and getting a new Optima card. I don't recall reading any reports of it lately though.

I read that Amex would eventually remove the trade lines. You could not request it and they would not acknowledge they delete it before the regular SOL. Since they made changes to D* Im wondering if they made changes to this as well.

 

 

 

 

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In approximately 2011 I had this happen to me. I had a AMEX Premier Gold Rewards card that I could not pay. First, they dropped my unlimited credit line due to my credit score dropping, then they closed the account soon after. They sent me a letter stating that if I paid the full balance owed (within a certain time frame) they would offer me their Optima card. So I figured this would be a good way to stay in with them so I paid it off (about $1500 to $1800.00) in a couple payments over a short period of time. They sent me a letter stating that they would not report negatively on my credit report since I paid in full and offered me the Optima card with a $500.00 limit. I accepted the offer. Today that gold card is still on my report with a zero balance reporting as a paid closed account. I have never received a credit limit increase on the Optima card and it's my understanding that they never will. Hope this helps!

If you had the Optima Card for over 12 months you can apply for a CLI. You can even do it online. You are also eligible to apply for another card product without having to close your Optima account.

 

 

 

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