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  • Approved for AMEX Blue with a stipulation....

    Back in the early 90's, I hit some bad financial times due to a number of
    circumstances (divorce, unemployment, nine months on disability). As a
    result, my once spotless credit went to pot. I had a balance of ~$3,000 (I
    think) that was written off by AMEX. Since then, I have built up my credit
    from scratch and I have a FICO score of just over 800. I have had the same
    job for over 12 years, owned my home for 7 years, and I have a good amount
    of money saved in the bank. I have worked very hard to put myself in a
    position where it's very unlikely my financial situation will take a severe
    down turn again. I have very low debt now and pay off all my credit cards
    every month.

    About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought
    that they may have forgiven me. When I sent in the app, it was denied due
    to the prior written off account. I checked my credit reports later to
    see if I got dinged and nothing happened. Still spotless. Last week I
    received a "pre-approved" AMEX Blue offer. I went ahead and applied since
    I figured they may have forgiven me. I was denied again, but I can get the
    card if I pay the old outstanding balance in full. The actual amount was
    not disclosed in the letter. The offer is good for 45 days. This balance
    is from around 1991 or 1992.

    I would like to make things good again with them, but I am looking for
    possible 'gotchas'.

    1) If I call and inquire about the balance, will that start the clock again
    on my credit report?

    2) Will the balance include interest accrued from when the balance was
    written off?

    3) Will they attempt to negotiate a possible lower amount to settle the
    debt if I balk at the whole amount?

    4) If I pay the balance, will this appear on my credit report that I
    settled with them?

    The account was sent to collections many years ago, but all I ever got were
    nasty letters that stopped coming eventually. I would be interested in
    hearing if anyone else has dealt with AMEX in a similar situation.

    Thanks.



  • #2
    Approved for AMEX Blue with a stipulation....

    On 14 Mar 2006 03:42:39 -0000, [email protected] (Anderson) wrote:
    1) If I call and inquire about the balance, will that start the clock againon my credit report?
    No.
    2) Will the balance include interest accrued from when the balance waswritten off?
    Yes
    3) Will they attempt to negotiate a possible lower amount to settle thedebt if I balk at the whole amount?
    No
    4) If I pay the balance, will this appear on my credit report that Isettled with them?
    Yes

    Comment


    • #3
      Approved for AMEX Blue with a stipulation....

      On 14 Mar 2006 03:42:39 -0000, [email protected] (Anderson) wrote:
      1) If I call and inquire about the balance, will that start the clock againon my credit report?
      No.
      2) Will the balance include interest accrued from when the balance waswritten off?
      Yes
      3) Will they attempt to negotiate a possible lower amount to settle thedebt if I balk at the whole amount?
      No
      4) If I pay the balance, will this appear on my credit report that Isettled with them?
      Yes

      Comment


      • #4
        Approved for AMEX Blue with a stipulation....


        "Anderson" <[email protected]> wrote in message
        news:[email protected]
        Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks.
        so why get an amex card?


        Comment


        • #5
          Approved for AMEX Blue with a stipulation....


          "Anderson" <[email protected]> wrote in message
          news:[email protected]
          Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks.
          so why get an amex card?


          Comment


          • #6
            Approved for AMEX Blue with a stipulation....


            On 14-Mar-2006, "AllEmailDeletedImmediately" <[email protected]> wrote:
            Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks. so why get an amex card?
            Good answer!!! There are s-o-o-o-o many other cards out there. Why
            mess with someone you defaulted? I don't get it either.

            Comment


            • #7
              Approved for AMEX Blue with a stipulation....


              On 14-Mar-2006, "AllEmailDeletedImmediately" <[email protected]> wrote:
              Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks. so why get an amex card?
              Good answer!!! There are s-o-o-o-o many other cards out there. Why
              mess with someone you defaulted? I don't get it either.

              Comment


              • #8
                Approved for AMEX Blue with a stipulation....

                On Tue, 14 Mar 2006, "AllEmailDeletedImmediately" <[email protected]>
                wrote:
                "Anderson" <[email protected]> wrote in messagenews:[email protected] ter...
                Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks.
                so why get an amex card?
                Fair question. I am a Costco member and it's the only credit card they
                accept. It would be convenient for me to have an AMEX card.















































                Comment


                • #9
                  Approved for AMEX Blue with a stipulation....

                  On Tue, 14 Mar 2006, "AllEmailDeletedImmediately" <[email protected]>
                  wrote:
                  "Anderson" <[email protected]> wrote in messagenews:[email protected] ter...
                  Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks.
                  so why get an amex card?
                  Fair question. I am a Costco member and it's the only credit card they
                  accept. It would be convenient for me to have an AMEX card.















































                  Comment


                  • #10
                    Approved for AMEX Blue with a stipulation....

                    Anderson wrote:
                    Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks.
                    You might want to read this article before contacting AMEX.

                    http://moneycentral.msn.com/content/...ng/P130255.asp

                    Comment


                    • #11
                      Approved for AMEX Blue with a stipulation....

                      Anderson wrote:
                      Back in the early 90's, I hit some bad financial times due to a number of circumstances (divorce, unemployment, nine months on disability). As a result, my once spotless credit went to pot. I had a balance of ~$3,000 (I think) that was written off by AMEX. Since then, I have built up my credit from scratch and I have a FICO score of just over 800. I have had the same job for over 12 years, owned my home for 7 years, and I have a good amount of money saved in the bank. I have worked very hard to put myself in a position where it's very unlikely my financial situation will take a severe down turn again. I have very low debt now and pay off all my credit cards every month. About 3 years ago, I received a "pre-approved" Gold AMEX offer. I thought that they may have forgiven me. When I sent in the app, it was denied due to the prior written off account. I checked my credit reports later to see if I got dinged and nothing happened. Still spotless. Last week I received a "pre-approved" AMEX Blue offer. I went ahead and applied since I figured they may have forgiven me. I was denied again, but I can get the card if I pay the old outstanding balance in full. The actual amount was not disclosed in the letter. The offer is good for 45 days. This balance is from around 1991 or 1992. I would like to make things good again with them, but I am looking for possible 'gotchas'. 1) If I call and inquire about the balance, will that start the clock again on my credit report? 2) Will the balance include interest accrued from when the balance was written off? 3) Will they attempt to negotiate a possible lower amount to settle the debt if I balk at the whole amount? 4) If I pay the balance, will this appear on my credit report that I settled with them? The account was sent to collections many years ago, but all I ever got were nasty letters that stopped coming eventually. I would be interested in hearing if anyone else has dealt with AMEX in a similar situation. Thanks.
                      You might want to read this article before contacting AMEX.

                      http://moneycentral.msn.com/content/...ng/P130255.asp

                      Comment


                      • #12
                        Approved for AMEX Blue with a stipulation....

                        It's off the screen in your credit file but Amex will remember the
                        debt forever. If you EVER want to do business with them you'll
                        probably have to pay it off. If you can afford to do it now, it
                        might be a good idea (and it's always honorable to pay legitimate
                        debts even if nobody is threatening to break a kneecap to make you
                        do it).


                        Anderson wrote:
                        so why get an amex card? Fair question. I am a Costco member and it's the only credit card they accept. It would be convenient for me to have an AMEX card.

                        Comment


                        • #13
                          Approved for AMEX Blue with a stipulation....

                          It's off the screen in your credit file but Amex will remember the
                          debt forever. If you EVER want to do business with them you'll
                          probably have to pay it off. If you can afford to do it now, it
                          might be a good idea (and it's always honorable to pay legitimate
                          debts even if nobody is threatening to break a kneecap to make you
                          do it).


                          Anderson wrote:
                          so why get an amex card? Fair question. I am a Costco member and it's the only credit card they accept. It would be convenient for me to have an AMEX card.

                          Comment


                          • #14
                            Approved for AMEX Blue with a stipulation....

                            On Wed, 15 Mar 2006, Mike Berger <[email protected]> wrote:
                            It's off the screen in your credit file but Amex will remember thedebt forever. If you EVER want to do business with them you'llprobably have to pay it off. If you can afford to do it now, itmight be a good idea (and it's always honorable to pay legitimatedebts even if nobody is threatening to break a kneecap to make youdo it).
                            I wholeheartedly agree, which is why I was asking about the 'gotchas' that
                            might be involved in this situation. It was never my intention to default
                            on the original balance. I had a perfect storm of financial setbacks which
                            caused my problems at the time. I would have no problem weathering the
                            same or worse now.


                            Comment


                            • #15
                              Approved for AMEX Blue with a stipulation....

                              On Wed, 15 Mar 2006, Mike Berger <[email protected]> wrote:
                              It's off the screen in your credit file but Amex will remember thedebt forever. If you EVER want to do business with them you'llprobably have to pay it off. If you can afford to do it now, itmight be a good idea (and it's always honorable to pay legitimatedebts even if nobody is threatening to break a kneecap to make youdo it).
                              I wholeheartedly agree, which is why I was asking about the 'gotchas' that
                              might be involved in this situation. It was never my intention to default
                              on the original balance. I had a perfect storm of financial setbacks which
                              caused my problems at the time. I would have no problem weathering the
                              same or worse now.


                              Comment

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