Misc Credit Card Questions

[Emkay]

Okay; I still consider myself a n00b in alot of areas, so I have Q for the pros here . your advice and help would be extremely appreciated.
Q: A family member of mine about 17 years ago failed to pay his amex bill of about $4k. The account was closed by amex and hasn't had amex ever since (didn't even try to apply again). The Q is; if he applies again now for a few cards, do you think that he's either black listed or that even if he is approved that they'll come after him for the old debt? (I'm not so nervous about the bonus bc it seems to have been voted that "lifetime" is 7 yrs.) ..what do you guys think?
TIA for your input !

If its been that long I assume Amex already sold the debt and they won't be collecting it anymore. Has he received 3rd party collection notices?

I have more pulls then a sweater in a thrift shop

[emjee]

If its been that long I assume Amex already sold the debt and they won't be collecting it anymore. Has he received 3rd party collection notices?

I have more pulls then a sweater in a thrift shop

No 3rd party collection notices. He told me that when this all went down he dealt with amex about it directly. He told me the rep he spike to even then told him that for the company it's a write off.

In terms of your pulls; lol. I could've guessed that myself about you.
Thanks emkay .

[Mendelssohn]

Hi - wanted to update: that I got approved for the SPG Business after requesting underwriting/reconsideration. Never thought that would happen after the amount of reason I was denied originally. Thank you David Smith and e/o else that helped

Some random questions:
1) Does Amex raise the credit limit on its own after a few months of good payments? Have a relative who has 1k limit since for Amex card 6 months ago...
2) Are business cards counted toward Chase's 5/24 rule?
3) Should I be keeping all the paperwork that comes w my new card (i.e., cardmember agreement)?
Thanks in advance!

1.  Although Amex sometimes gives auto CLIs, you typically need to request  a CLI yourself.  Some people are able to do this at activation.  Otherwise, you can request a CLI within the first 2 months, when the have softed you in the second month.  If you don't want to track this, just do it after 61 days.  You are allowed 1 CLI total on your Amex cards every 6 months. 

2.  I doubt they are pulling business credit for a personal card, but I'm sure they count it towards business cards.

3.  I keep all my card paperwork, but I'm sure many throw it away.  I can't remember ever needing it.

[Mendelssohn]

Okay; I still consider myself a n00b in alot of areas, so I have Q for the pros here . your advice and help would be extremely appreciated.
Q: A family member of mine about 17 years ago failed to pay his amex bill of about $4k. The account was closed by amex and hasn't had amex ever since (didn't even try to apply again). The Q is; if he applies again now for a few cards, do you think that he's either black listed or that even if he is approved that they'll come after him for the old debt? (I'm not so nervous about the bonus bc it seems to have been voted that "lifetime" is 7 yrs.) ..what do you guys think?
TIA for your input !

They can't come after him for the old debt.  Sometimes Amex will BL with unpaid debts though.  The way to tell is to apply for a card and if denied, see if they pulled credit.  If you are on the BL, they won't even pull credit.

[LoLo]

Re the chase 24 month rule, if the new card be approved within 24 months but the spending is finished after 24, will i get the bonus?

[TimT]

Re the chase 24 month rule, if the new card be approved within 24 months but the spending is finished after 24, will i get the bonus?

If you get approved for the CSP/Freedom you would get the bonus.

[LoLo]

If you get approved for the CSP/Freedom you would get the bonus.

Asking about co-branded

[emjee]

They can't come after him for the old debt.  Sometimes Amex will BL with unpaid debts though.  The way to tell is to apply for a card and if denied, see if they pulled credit.  If you are on the BL, they won't even pull credit.

Thanks mendel!

[Zalc]

What banks have Biz cards that don't show on your CR, and give very high limits?

I'm looking for ~$50k on each account if possible...

Tia

[mord1]

Any reason to keep my first spg card opened?
I have older cads on my credit report. Anything special about amex and you first card?

[Der Deutsche Jude]

Any reason to keep my first spg card opened?
I have older cads on my credit report. Anything special about amex and you first card?

Note that AMEX always reports every card you open as being opened in the year that you first got an AMEX card.  So if an AMEX was your first card then don’t sweat it!  Whenever you open a new AMEX card it will be as if that account was open from the date you opened your first ever AMEX card.

[chinagel]

iirc ir was reported they stopped doing that

[David Smith]

iirc ir was reported they stopped doing that

Yup, years ago.

[Der Deutsche Jude]

Yup, years ago.

Post is only a year old

[yochiek93]

IR?

It

[David Smith]

Post is only a year old

You're right. Amex stopped backdating AUs a while ago. They only stopped backdating new accounts about a year ago, though (3/21/15).

[Wizard]

1.  Although Amex sometimes gives auto CLIs, you typically need to request  a CLI yourself.  Some people are able to do this at activation.  Otherwise, you can request a CLI within the first 2 months, when the have softed you in the second month.  If you don't want to track this, just do it after 61 days.  You are allowed 1 CLI total on your Amex cards every 6 months. 

2.  I doubt they are pulling business credit for a personal card, but I'm sure they count it towards business cards.

3.  I keep all my card paperwork, but I'm sure many throw it away.  I can't remember ever needing it.

Really appreciate the detailed response. Just not clear what you mean in #1 - I should've done this in the second month? Now its 6 months already, what should I do? I don't know what you mean "track this"... Also - is a soft pull for CLI bad for my credit?
Lastly, re #2 - you're saying a new business card would only count toward Chase 5/24 rule if I was applying for a Chase business card but not if I was applying for a Chase personal card?
Thanks again!

[tzifanya54]

You're right. Amex stopped backdating AUs a while ago. They only stopped backdating new accounts about a year ago, though (3/21/15).

It's YMMV. Some still get accounts backdated.

[Mendelssohn]

It's YMMV. Some still get accounts backdated.

No they don't.

It ended for everybody.

It doesn't matter what your card says, but what your credit report says.

All cards already reporting as backdated remained the same.

[Wizard]

Awesome ! Congrats !

Thank you!