Jump to content

ANNOUNCEMENT

 


cv91915 has set up a Go Fund Me page to take donations that will be used for flowers for breeze's memorial, and excess will be donated to a cancer charity in breeze's name.  If you'd like to participate, please go here:  https://www.gofundme.com/breeze-memorial .  If you have any questions about donating or the GFM, please reach out to cv91915.  
 
 
photo-thumb-3.jpg
Sunday, unexpectedly, we lost one of our own.  After a sudden diagnosis of liver cancer just two days before, our very own mama Breeze lost her battle with this disease and passed away on Sunday afternoon.   She passed peacefully surrounded by her family.
 
We know that many of you will be as devastated as we are to learn of this, and we know that you will share in our grief.  We will be in the Feedback forum with you, sharing our memories and our tears.  We encourage you to join us there.
 
We started on this journey fifteen years ago - breeze, Pam, LKH, and radi8.  Through everything that has transpired over the past fifteen years, we have always remained family - and Mama breeze was an integral part of that family.  We will be posting additional information here, as much as we can while still respecting her desire for privacy and anonymity.  For now, while we process our grief, we will close this notice with Godspeed, Mama.  We miss you so much already.

 

- Pam, LKH, radi8, Marv

- the mods and forum leads


shadekitty

Score tanked - Thanks Amex... (Oasis program / CO account)

Recommended Posts

So I had an Amex card a few years back that I let go with about 1,000 due. I just recently signed up for an Oasis card/payback plan.

 

Out of nowhere, my scores tanked today - according to Experian, Amex just reported my card as a charge off.  I'm over 2 years past SOL, it has never been listed as a CO before.

 

I know initially it was probably a CO account, but I'm in agreement to pay it back right now - is this typical for others in the Oasis program?

Edited by shadekitty

Share this post


Link to post
Share on other sites

Give it time to sift through the process.  Get the PAPER report from Experian. 

 

I've had people I know who I got into the OASIS program but none ever described the reporting.  I could, however, easily buy into the likely argument from AXP that the account retains its charge-off status UNTIL the prior balance has been paid in full in accordance with the terms of the program, at which point in time, it re-ages in a manner not unlike an account re-aged under Rule 5000. 

 

It would be worth calling them to ask.  Don't be rude or accusatory with them.  Early AM is probably the best time to call...they will have had fewer people get on their nerves at that juncture.  Late afternoon is rarely a good time to deal with customer service personnel in ANY company.  I don't know if the OASIS phone banks are offshorians or if they are East Coast personnel...

Share this post


Link to post
Share on other sites

As a side note, the permissible reporting period for negative credit information and SOL are completely different concepts.

Share this post


Link to post
Share on other sites
1 hour ago, shadekitty said:

I guess I'm now wondering if I'm paying a completely new account off (that my debt was transferred to). 

Is the number on the new card the same as your old account number? 

Share this post


Link to post
Share on other sites

Normally, Amex will issue an Optima card only after you have paid the previously defaulted balance but with a smaller CL. Then, if you manage it well after a year or so you can get other cards and decent CLs. 

Share this post


Link to post
Share on other sites

Whenever you make a payment on an old CO account it updates the date which drops your score. With this program I would guess they would clear out the CO at the end but I don't really know. They may not. The program isn't about credit repair, it's about getting back in with Amex and them getting their money. 

Share this post


Link to post
Share on other sites
10 hours ago, shifter said:

Whenever you make a payment on an old CO account it updates the date which drops your score. With this program I would guess they would clear out the CO at the end but I don't really know. They may not. The program isn't about credit repair, it's about getting back in with Amex and them getting their money. 

Amex reports monthly on their CO accounts, so if the OP paid it off it would zero out the account and stop reporting. she should have gotten a bump in score.

Share this post


Link to post
Share on other sites
21 hours ago, dvd said:

Amex reports monthly on their CO accounts, so if the OP paid it off it would zero out the account and stop reporting. she should have gotten a bump in score.

Sure they do... Sometimes. But in this case the OP said they were not. 

Share this post


Link to post
Share on other sites

I'll wait it out and see. I'm not applying for anything and my current CL's aren't high enough I'm worried about a CLD yet. This sucks though :( 

Share this post


Link to post
Share on other sites
2 hours ago, shadekitty said:

I'll wait it out and see. I'm not applying for anything and my current CL's aren't high enough I'm worried about a CLD yet. This sucks though :( 

Have you called them to inquire? 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Today's Birthdays

  • Member Statistics

    • Total Members
      174,659
    • Most Online
      1,528

    Newest Member
    questneverythng1
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines