Re: Getting Back In Good Grace with Amex???
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Posted by THE INSIDER (64.12.96.78) on November 23, 2003 at 22:00:20:
In Reply to: Getting Back In Good Grace with Amex??? posted by Fred on November 23, 2003 at 17:55:25:
Fred....AMEX is a tough cookie to crumble but, the first thing that you should find out is exactly when was the last date of your payment to AMEX was on the "less than full balance" account? Meaning, when did you settle the account? Second, calculate 7 years from that date...simply because according to the Fair Credit Reporting Act, a creditor may report your rating for 7 years. After which it would automatically drop out of your Credit Report. FYI...AMEX won't accept payments on a "charged-off" account, or settled account. The loss has already been recorded and reported for their IRS purposes. If the 7 years is close...you should just be patient and wait. After it drops off..you can just apply for another account. If it's that you just need a credit card...why is AMEX so important to have? AMEX isn't accepted in as many places as MasterCard or Visa! In addition you could always open a "Secured Credit Card Account" anywhere and at your own Credit Limit (funds applied). I hope I helped at least a little. THE INSIDER
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