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BentleyBear

How can I get AMEX to approve me after defaulting 22 years ago?

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On 2/25/2019 at 2:35 AM, XScottX said:

It's not to impress your friends, but an Amex has more prestige than credit one, right? Most people dont care, we're (those here) a lot more focused on credit than the average citizen. 

As far as cards are concerned there is basically subprime and prime.

 

Among the prime cards the rewards and benefits are either inferior or superior.

 

As far as cardholders go, there are tools and not tools.  Be one of the latter.

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1 hour ago, cbseeker said:

For me: The $550 annual is really high but it will will be $350 almost immediately as I travel most of the time and will use the $200 airline credit. I also, whether good or bad, play the points game. I signed with a 100,000K MR point bonus with $5K spend in 3 months. I do about $8K -$9K a month, I will knock that out pretty quick. I will use the AMEX/&friends airport lounges maybe a couple times a month, that to me, is worth something. There are also other offset benefits that I may use like the $200 in Uber per year.  As far as "prestige" I could care less, again, to me, I see no value in that. I use Apple Pay as much as I can.  Were I not a "road warrior" this would be a completely different discussion.

Lounge really is sweet. I cant count the number of times i'd be held up someplace for 3 or 4 hrs and sitting at the gate waiting.. Uggh I dont miss traveling as much any more. 

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Here is the scenario, had AMEX when I was in college in the mid 90's

Filed BK in 1998, AMEX included for $1600, fast forward to April 2019 applied for a new card, said I was declined because previous account history etc...

 

I was told that I could pay the amount, but there was no guarantee I would approved etc... 

 

Anyone have insight or input?

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18 minutes ago, earl5831 said:

Here is the scenario, had AMEX when I was in college in the mid 90's

Filed BK in 1998, AMEX included for $1600, fast forward to April 2019 applied for a new card, said I was declined because previous account history etc...

 

I was told that I could pay the amount, but there was no guarantee I would approved etc... 

 

Anyone have insight or input?

I never paid my IIB amex and got back in. I wouldn't pay them just for the opportunity to maybe be approved.

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I think Amex is over rated.  I have cards that give better rewards with no annual fee.  The one reason I liked amex in the past was that your available credit is immediate upon online payment.  Other cards used to take a day or two after payment.  Today, it's a day max on most cards and Citi is immediate as well.  When I read about the surprise freezes until you provide proof of income (months after the card was approved and payments have been current) it really makes me wonder why Amex is so sought after. I don't see any redeeming factors and as far as "prestige".  As long as my scores remain in the 800's I couldn't care less about prestige.

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36 minutes ago, direct said:

I think Amex is over rated.  I have cards that give better rewards with no annual fee.  The one reason I liked amex in the past was that your available credit is immediate upon online payment.  Other cards used to take a day or two after payment.  Today, it's a day max on most cards and Citi is immediate as well.  When I read about the surprise freezes until you provide proof of income (months after the card was approved and payments have been current) it really makes me wonder why Amex is so sought after. I don't see any redeeming factors and as far as "prestige".  As long as my scores remain in the 800's I couldn't care less about prestige.

who mentioned prestige? plenty of humans are happy with a discovery card too.

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11 hours ago, direct said:

I think Amex is over rated.  I have cards that give better rewards with no annual fee.  The one reason I liked amex in the past was that your available credit is immediate upon online payment.  Other cards used to take a day or two after payment.  Today, it's a day max on most cards and Citi is immediate as well.  When I read about the surprise freezes until you provide proof of income (months after the card was approved and payments have been current) it really makes me wonder why Amex is so sought after. I don't see any redeeming factors and as far as "prestige".  As long as my scores remain in the 800's I couldn't care less about prestige.

As has been noted time and again, AXP is not for everybody.  There are a lot of benefits to a card BEYOND a basic rewards structure.  But as with ANY card that has a fee, if you are not extracting at least the amount of the fee back from the card, then it isn't the correct card for the consumer. 

 

I didn't get my Platinum card for the MR points structure.  It is the OTHER benefits that come with it that I extract maximum value from. Time will tell whether I keep the Bonvoy card since I preferred SPG over Marriott.  I don't have to make that decision until renewal time rolls around. 

 

The 4506T shutdowns are not a common occurrence.  And the mere fact a card was approved does NOT mean the income had actually been confirmed.  There are plenty of people who lie about their income and assets, not just on an AXP application but on many other applications.  The issue is so infrequent as to be a non-issue for the vast majority of their cardholders. 

 

Bottom line is that for MOST cardholders, the AXP products are not obtained for 'prestige.' It is because the card offering serves a need NOT fulfilled by other products on the market.

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14 hours ago, direct said:

I think Amex is over rated.  I have cards that give better rewards with no annual fee.

American Express offers ~20 different consumer credit and charge cards (cash back, MRs, Marriott points, Delta miles, and on and on).  Several have no AF.  

 

Which of your no-AF cards offer better rewards than every card Amex issues? 

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On 12/14/2018 at 6:49 PM, BentleyBear said:

I admit, in 1996 I was 18 in college, got an Amex, charged it up, and didn't pay it.  Fast forward 22 years later, I applied for an Amex and was denied. My current credit score is 786 with my DTI at 6%. I'm sure I was auto denied because of what happened back in 1996. Is there a way I can contact them and ask them to remove the block from my profile so I can get an AMEX?

In your defense, granting a credit line to an 18 year old college student, who probably has very little income, is a bonehead move for American Express to have made. They knew what fire they were playing with. They got burned, and now they are taking their ball home with them. There are better lenders out there with better rewards programs. F' AMEX.

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2 hours ago, policebox said:

In your defense, granting a credit line to an 18 year old college student, who probably has very little income, is a bonehead move for American Express to have made. They knew what fire they were playing with. They got burned, and now they are taking their ball home with them. There are better lenders out there with better rewards programs. F' AMEX.

Which lender do you have that kicks back $100 for a $500 spend at Waldorf Astoria or Mandarin Oriental (offer available at BOTH)?  Or for that matter $45 back for a $225 spend at DoubleTree?  There are some other Hilton-brand offers, to include $200 on a Hawaiian property spend of $1000.  These are in addition to the regular rewards structure on the card..

 

Or, for that matter, the $25 cashback for a modest $45 spend at Sams Club? 

 

In a points category, I am also getting 6K MR points for a $300 spend at MGM, which is better than $60 when parlayed against some other offers given that not all MR redemptions are a 1:1 rate...

 

There are plenty of good offers even for the non-traveling card holder.  And, the monthly array of offers are typically the same across the entire product line, meaning one need not be in the $550/yr Plat category to get them.  Even the no-fee CashRewards card has them listed...

 

Of course, to top everything off, I like being able to get US-based reps who have gone above and beyond on more than one occasion. 

 

AXP works for MANY people.  MANY people know how to work AXP.  I'll take their rewards and benefits over anyone else out there for my daily use.

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On 4/12/2019 at 1:26 PM, centex said:

Which lender do you have that kicks back $100 for a $500 spend at Waldorf Astoria or Mandarin Oriental (offer available at BOTH)?  Or for that matter $45 back for a $225 spend at DoubleTree?  There are some other Hilton-brand offers, to include $200 on a Hawaiian property spend of $1000.  These are in addition to the regular rewards structure on the card..

 

Or, for that matter, the $25 cashback for a modest $45 spend at Sams Club? 

 

In a points category, I am also getting 6K MR points for a $300 spend at MGM, which is better than $60 when parlayed against some other offers given that not all MR redemptions are a 1:1 rate...

 

There are plenty of good offers even for the non-traveling card holder.  And, the monthly array of offers are typically the same across the entire product line, meaning one need not be in the $550/yr Plat category to get them.  Even the no-fee CashRewards card has them listed...

 

Of course, to top everything off, I like being able to get US-based reps who have gone above and beyond on more than one occasion. 

 

AXP works for MANY people.  MANY people know how to work AXP.  I'll take their rewards and benefits over anyone else out there for my daily use.

Pardon me, was I talking to you?

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On 4/13/2019 at 7:03 PM, policebox said:

Pardon me, was I talking to you?

Open forum...I'd explain the concept, but I'm not sure you would comprehend the concept.

 

And, I am sure there are actually SOME that DO understand the concept AND like money AND know how (or were previously unaware of how) to maximize the benefits offered by AXP.

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