Can They Do This? AMEX

[LittleB72]

AMEX 1 card: charged off in December (hadn't paid since August 09 I think)

AMEX 2 card: pay minimum due every month, not late, etc. Card was cancelled by AMEX when AMEX 1 card was charged off.

Got an alert today on TransUnion that AMEX 2 card has been 'charged-off'.

WTH?!! I can no longer access my AMEX 2 account online because I messed up logging in a few months ago and I can't reset anything because I don't have the physical card anymore ('security reasons will not allow you to Mrs. LittleB72')

What will they do with the $50.00 payment I just sent? GRRRR

I am in the process of filing Ch. 7 (just received confirmation that we pass the means test) but had hoped to keep the charge-offs to a minimum before we filed.

[ForumReader]

AMEX 1 card: charged off in December (hadn't paid since August 09 I think)

AMEX 2 card: pay minimum due every month, not late, etc. Card was cancelled by AMEX when AMEX 1 card was charged off.

Got an alert today on TransUnion that AMEX 2 card has been 'charged-off'.

WTH?!! I can no longer access my AMEX 2 account online because I messed up logging in a few months ago and I can't reset anything because I don't have the physical card anymore ('security reasons will not allow you to Mrs. LittleB72')

What will they do with the $50.00 payment I just sent? GRRRR

I am in the process of filing Ch. 7 (just received confirmation that we pass the means test) but had hoped to keep the charge-offs to a minimum before we filed.

IMO, credit card companies will do things like that even if you have a current card while having any other defaulted cards with the same creditor. Perhaps read the card agreements when you signed up for the cards and see what the agreements stated in regard to defaulted cards. Wishing you good luck with your filing BK!

[LittleB72]

Well, that makes sense. I'll check into it. Thanks.

My FAKO TU score went up 5 points. WEIRD.

[BigJohn]

I had a few american Express cards and defaulted on all of them. Surprising, American Express issued me a new card with a good balance. Catch: probably not usable till activated and to activate must contact them - gotcha.

[catleg]

Look at the bright side, you won't be paying account #2 anymore.

It's safe to assume that all your accounts with the same creditor will get the same treatment, it doesn't work to play the one-good, one-bad game.

Hopefully you were able to stop payment on the $50.

[myid4u2c]

Amex is not very bright. I had a business card that went bad and they canceled my wife’s amex card. The business offered monthly payments of 500.00 to pay off the debt, they refused. I filed C7 and they got nothing.

They disserve to loose money.

[forgotten]

Amex is not very bright. I had a business card that went bad and they canceled my wife’s amex card. The business offered monthly payments of 500.00 to pay off the debt, they refused. I filed C7 and they got nothing.

They disserve to loose money.

Credit card companies have the "all or nothing" mentallity. They want all of it, right now, or nothing. Doesn't really matter to them, you just need to pick one (pay on their terms or file BK).

IMO, they don't want word to get out that you can set your own terms if you can't pay. They want you to think that you have to do everything in your power to play by the rules and pay what they want when they want it. If they give you a deal, everyone will want a deal. They don't want people who are current to think they can work out "deals".