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  1. #1
    Join Date
    Jun 2011
    Posts
    1

    Default Denied Amex Corporate Card Due to Bad Credit

    My question involves collection proceedings in the State of: NJ


    Hi, well basically I'll start with a little backstory, back in college I got a little stupid with credit cards and ended up overextending myself on a few cards including an Amex Blue Card. The card was about 8 years old and about 6 years ago I settled the debt on the card paying a nice chunk of the balance owed. Well, fast forward to now, my credit isn't great due to these accounts still showing on my credit report but it is much improved and I am now in a full time job making about $80k/year with my only debt being a car loan and a college loan. This new position I am in requires traveling to such places like China therefore my company offered to give me a corp. card. Well, I apply for the card and get denied due to this past account I had. I call them asking them to reconsider because of how old the debt is and due to the fact that this is a corp. card not even an individual account. Well after being trasnferred around to 3 or 4 different people I was finally told they can't do anything for me unless I pay the remaining balance on the card. My question is do I have any rights? What was the point of settling the account if I'm still dealing with these issues now? I know this may sound like whining but it seems ridiculous and quit unfair to still be paying the price for something I did 6 years ago. I mean it's not like I committed murder. I have been paying the price for years by paying high interest rates, etc... Can anything be done to get this balance finally whiped clean for good?

  2. #2
    Join Date
    Jun 2006
    Location
    Massachusetts
    Posts
    24,521

    Default Re: Amex Corporate Card

    You do not have the right to be issued a corporate card.

    It is up to the credit card company whether to issue you a card or not. They have no legal obligation to do so. They get to establish the terms on which you will be accepted for a corporate card or not; if they decide that your failue to pay off the entire balance previously means that they do not see you as a good credit risk now, I am not aware of any law that is going to force them to provide you with credit.

  3. #3
    Join Date
    Mar 2007
    Posts
    9,096

    Default Re: Amex Corporate Card

    Must of the volunteers here also volunteer at the other sites.

    You aren't going to find a different answer.

  4. #4

    Default Re: Amex Corporate Card

    Quote Quoting moo2
    View Post
    My question is do I have any rights?
    You have the right to check your credit report to ensure that the account is listed as "settled" or similarly noted. It won't change that you got into financial trouble and the account was closed for less than the amount owed. You're entitled, by law, to one free copy of your credit report each year from the 3 major credit bureaus. You can access all 3 freebie reports online at www.annualcreditreport.com. A company that has had a financial issue with you in the past is legally free to NEVER extend credit to you again.

    What was the point of settling the account if I'm still dealing with these issues now?
    Because had you NOT settled the account, the credit card company could have sued you, placed leins on your property, and come after you including legal fees to collect the entire amount owed.

    I know this may sound like whining but it seems ridiculous and quit unfair to still be paying the price for something I did 6 years ago.
    Most such items (other than bankruptcy) fall off your credit report after 7 years. But that still doesn't FORCE a company with a negative history with you to extend credit. Try another company.

    Can anything be done to get this balance finally whiped clean for good?
    You can declare bankruptcy - but then you'll have THAT on your credit report for 10 years.

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