Can I Get an AmEx After Bankruptcy

Getting an Amex card after bankruptcy can be challenging. American Express generally has strict policies:

• They typically close accounts when you enter bankruptcy.
• They won’t issue new credit or charge cards if Chapter 7 is on your credit report.
• Bankruptcy remains on your credit report for up to 10 years.

You will likely have to wait:

• 8-10 years for Chapter 7 bankruptcy.
• At least 7 years for Chapter 13 bankruptcy.

Even after this waiting period, approval is not guaranteed. You may need to:

• Negotiate for special terms.
• Accept a higher interest rate.
• Show significant credit improvement.

While rebuilding your credit, consider these alternatives:

• Secured credit cards, which are easier to qualify for.
• Cards designed for poor credit.
• Amex Serve, a prepaid account with some Amex benefits.

Focus on responsible credit use and improving your overall financial situation. Overall, with time and effort, you can work towards qualifying for premium cards again.

After a bankruptcy, American Express typically requires a waiting period of 5+ years after a Chapter 7 discharge before you can apply for an available Amex card. Even then, approval isn't guaranteed, especially if you included Amex debt in your bankruptcy.

To improve your chances:

• Repay any discharged Amex balances if possible, although this does not ensure approval.
• Focus on rebuilding your credit with secured or starter cards from other issuers.
• Make consistent, on-time payments.
• Keep your credit utilization low.
• Consider becoming an authorized user on someone else's card.

In the meantime, you can benefit from American Express features through their prepaid Serve card, which doesn't require a credit check. This card helps you stay connected with Amex while you work on qualifying for their credit products again.

As a final point, be patient and diligent as you improve your finances and credit. With responsible credit use, you may eventually become eligible for an Amex card again, but be prepared for the possibility of being declined even years later.

American Express doesn't publicly disclose specific bankruptcy policies. However, there are general trends you should be aware of:

• Bankruptcy is a significant red flag for Amex when you apply for credit.
• You might face a waiting period after bankruptcy, ranging from 1-10 years based on the type of bankruptcy.
• Your credit score will be crucial, so focus on rebuilding it with responsible financial habits.
• Amex might require higher income or assets for your approval compared to applicants without a bankruptcy history.
• Starting with a secured or lower-tier Amex card could improve your chances after bankruptcy.
• Different bankruptcy types (Chapter 7 vs. Chapter 13) can affect Amex's decision-making process differently.
• Be prepared to explain your bankruptcy circumstances and demonstrate financial stability since then.

To put it simply, you need to rebuild your credit and financial stability post-bankruptcy while understanding that Amex might have stricter requirements for you.

Your pre-bankruptcy Amex history will likely affect your approval for new Amex cards after bankruptcy. Amex typically closes accounts immediately upon learning about a bankruptcy filing and may blacklist you if you discharged Amex debt.

Amex generally won't issue new credit or charge cards to individuals with a Chapter 7 bankruptcy on their credit report, which remains visible for up to 10 years. This means you may face an extended waiting period before becoming eligible for Amex products again.

However, you can take steps to improve your chances:

• Rebuild your credit with secured or entry-level cards from other issuers.
• Demonstrate responsible credit use over time.
• Improve your overall financial situation.

In short, while approval isn't guaranteed, focusing on consistently paying your bills on time and keeping credit utilization low can increase your chances of Amex reconsideration in the future.

You need a credit score of at least 700 before American Express will consider your application post-bankruptcy. Amex is known for its strict credit standards, especially after bankruptcy. You usually need to wait 5 years post-bankruptcy filing to be eligible.

Even with a high credit score, your prior history with Amex might affect approval. You should manage your current credit responsibly. Aim for a credit score in the good to excellent range (700-800+) to improve your chances.

To finish, focus on managing your credit well and wait the necessary time to enhance your eligibility for an Amex card.

You may be able to get a secured American Express card after bankruptcy, but it's not guaranteed. Amex typically has strict policies regarding bankruptcies:

• They often close existing accounts upon filing.
• New applications are usually denied for up to 10 years after Chapter 7 discharge.
• Some report success around 5 years post-bankruptcy if you didn't default on a previous Amex account.

To improve your chances:

• Focus on rebuilding credit with other secured cards first.
• Maintain on-time payments and reduce overall debt.
• Consider applying for an Amex card after the 5-year mark.
• Explore co-branded Amex cards issued by other banks, which may have different approval criteria.

In essence, you should focus on rebuilding your credit and then consider applying for an Amex card after sufficient time has passed.

To improve your chances of Amex approval after bankruptcy, you need to focus on rebuilding your financial profile and demonstrating responsible credit behavior.

First, wait at least 1-2 years post-bankruptcy discharge before applying. Amex is conservative, so this waiting period is crucial. In the meantime, you can rebuild your credit by obtaining a secured card or one specifically designed for poor credit. Always make payments on time and keep your balances low, ideally under 30% of your credit limits.

You should also work on improving your overall financial profile. Lower your debt-to-income ratio and, if possible, increase your income. Becoming an authorized user on a responsible person’s account can also help improve your credit score.

Research Amex’s entry-level cards and understand their specific requirements. Be prepared to explain your bankruptcy circumstances if asked during the application process.

To wrap up, be patient and focus on consistently demonstrating good credit habits. Over time, your diligent efforts will gradually improve your odds of getting approved by Amex.

You should wait before applying for an American Express card after bankruptcy. AmEx often requires 5-10 years post-bankruptcy before considering approval. Focus on rebuilding your credit first.

• Apply for secured or starter cards from other issuers.
• Use these responsibly, paying balances in full each month.
• Keep credit utilization low (under 30%).

As your credit improves, gradually apply for better cards. Consider Capital One, Discover, or store cards (like Target or Walmart) as they tend to be more lenient with post-bankruptcy applicants. Build a solid payment history with these before attempting AmEx. Remember, each application results in a hard inquiry, so space them out.

While waiting, explore AmEx's prepaid options like Serve. This lets you benefit from their services without a credit check.

On the whole, be patient and strategic. Focus on responsible credit use and steady improvement. With time and consistent effort, you'll increase your chances of AmEx approval.

After Amex denies your post-bankruptcy application, you have several options:

• Wait it out: Typically, Amex requires 61+ months post-bankruptcy before considering approvals. Focus on rebuilding your credit during this time.

• Try secured cards: Apply for cards designed for credit rebuilding from other issuers. These help improve your score over time.

• Explore alternative issuers: Some banks are more lenient towards post-bankruptcy applicants. Research and apply strategically.

• Consider co-branded Amex cards: Cards issued by partner banks may be easier to get approved for initially.

• Build a strong profile: Pay all bills on time, keep credit utilization low, and avoid new negative marks on your credit report.

• Reapply strategically: Once you've significantly improved your credit, try for Amex again after the 61-month mark.

Bottom line: Patience and diligent credit management are key to regaining access to premium cards post-bankruptcy. Focus on steady improvement rather than quick fixes.

Can an employer-sponsored Amex bypass bankruptcy issues? No, filing for bankruptcy usually results in the cancellation of corporate credit cards, even those sponsored by your employer.

Your employer can't require you to get a personal credit card for work expenses after bankruptcy. Instead, they should provide a company card, with the company responsible for payments.

Here's what we advise you to do:

• Explain your situation to HR and the travel department.
• Request a corporate card with the company as the primary account holder.
• Ask to be added as an authorized user on this new card.
• Suggest alternatives like company-issued prepaid cards or direct billing for travel expenses.

If your employer is small, they might need an executive to obtain the card and add you as an authorized user. This bypasses personal credit checks and allows you to make business purchases.

Remember, rebuilding credit takes time. Focus on using company-provided solutions for now. In a nutshell, communicate openly with your employer, and they can help accommodate your needs post-bankruptcy.

Chapter 7 and Chapter 13 bankruptcies impact your Amex eligibility differently:

• Chapter 7 stays on your credit report for 10 years. This makes Amex approval very challenging during this period. It involves liquidating assets to pay creditors.

• Chapter 13 remains on your credit report for 7 years. This may slightly improve your Amex approval odds compared to Chapter 7. It involves a debt repayment plan over 3-5 years.

Both types severely damage your credit score, a crucial factor for Amex eligibility. Right after bankruptcy, you are unlikely to qualify for Amex cards. You should focus on secured or credit-building cards initially. Over time, responsible credit use improves your chances for Amex approval.

Amex considers individual circumstances, so exact waiting periods vary. You will need to rebuild your credit significantly before becoming eligible. Start with basic cards, make on-time payments, and gradually improve your credit profile.

Remember, bankruptcy affects all credit applications, not just Amex. All in all, be patient, strategic, and focus on rebuilding your financial standing.