We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
American Express - black file reset
Comments
-
Which provision of the DPA says you have to, at any time, forget that someone you have done business with failed to comply with their Ts&Cs and never paid back all the money they borrowed from you?I don't agree that a blacklist exists for any bank or lender which is probably against the provisions of the data protection act.
Well you might say that, but the DPA doesn't.I would say it's as long as they keep records which may be a minimum of 5 years. Any record they hold about you may be renewed or extended due to a new application.Optimists see a glass half full
Pessimists see a glass half empty
Engineers just see a glass twice the size it needed to be
0 -
Being an additional cardholder on your GF's AmEx account will not create a financial association. Any debt you run up on it will be entirely her responsibility.Good info, thanks. My gf has an Amex. I've avoided adding myself as a 2nd cardholder because I didn't want to create a financial association until the past mess was behind me. Thankfully the default has now expired.
Financial Associations relate only to joint current accounts and other joint liabilities, like mortgages. Even a joint savings account shouldn't create a financial association.Optimists see a glass half full
Pessimists see a glass half empty
Engineers just see a glass twice the size it needed to be0 -
Being an additional cardholder on your GF's AmEx account will not create a financial association. Any debt you run up on it will be entirely her responsibility.
Financial Associations relate only to joint current accounts and other joint liabilities, like mortgages. Even a joint savings account shouldn't create a financial association.
Are you sure?
I've had ex-gfs come up on credit reports just because they were a named cardholder. Never had a joint bank account in my life.0 -
Which provision of the DPA says you have to, at any time, forget that someone you have done business with failed to comply with their Ts&Cs and never paid back all the money they borrowed from you?
Well you might say that, but the DPA doesn't.
Keeping a secret list except in the case of a crime is unlawful. If you ask about it they have to tell you about it.
https://www.gov.uk/data-protection/find-out-what-data-an-organisation-has-about-youThe organisation is legally required to give you a copy of the information they hold about you if you request it.
https://www.gov.uk/data-protection/find-out-what-data-an-organisation-has-about-you
Now it's your turn to prove your statement.0 -
Keeping a secret list except in the case of a crime is unlawful. If you ask about it they have to tell you about it.
https://www.gov.uk/data-protection/find-out-what-data-an-organisation-has-about-you
https://www.gov.uk/data-protection/find-out-what-data-an-organisation-has-about-you
Now it's your turn to prove your statement.
Repeating the same link over and over doesn't make your argument any better.
Amex told the OP why they don't want to do business - it's not a "secret". I'd imagine if the OP did a SAR it would say the same thing - you owed us money, we don't want to do business with you.
No court is going to force a company to give a person credit, especially a person who didn't pay their previous debts, regardless of how long ago it was.
If someone owed you thousands would you forget it after 6 years and lend them some money again?0 -
camelot1971 wrote: »Repeating the same link over and over doesn't make your argument any better.
Amex told the OP why they don't want to do business - it's not a "secret". I'd imagine if the OP did a SAR it would say the same thing - you owed us money, we don't want to do business with you.
No court is going to force a company to give a person credit, especially a person who didn't pay their previous debts, regardless of how long ago it was.
If someone owed you thousands would you forget it after 6 years and lend them some money again?
Hijacking this point...
I don't think Amex should be 'forced' into accepting a customer that hasn't performed as well as they would have liked. But comparing it to a mate owing you money is bad analogy.
Before selling the debt on, Amex made thousands more in interest payments. The fact that it ended badly is my fault - but Amex's net balance is definitely up, overall.
I did a bit of digging online, and it seems some customers in the US were rejected going right back to a debt they incurred in the 1970s. Some others had bankruptcies (more severe than the voluntarily debt management plans I entered into), and were re-accepted after a couple of years. I'm just trying to get a definitive answer on their policy. I wrote a letter (twice) to Amex's head office, and didn't get a reply.
Other card companies handle this very differently. My debt was higher with Barclaycard, but a year later I got the Initial card (with a penalising rate of interest, as to be expected) and endured that for a couple more years, until I got a Platinum. Both now have limits comparable with my pre-debt days.
I was just curious whether this will ever be the case with Amex, since they offer a useful chargecard product for businesses with a relatively generous reward scheme that I would use quite extensive. Would rather put my biz spend through that if poss. If I'm on the naughty list forever, it would be useful to know so I'm not re-applying every year and getting turned down.
As for the policy itself - obviously I can understand the extra risk that a previously bad customer carries, but this does seem a bit heavy handed in the fictitious game of money. Banks print money out of thin air and financial companies repackage and sell on debts with all manner of instruments and disguised ratings. The whole thing is a game of winners and losers. Amex definitely won in the long-run. I imagine many thousands of people found themselves in a similar situation during the 2007-09 period I racked up the debt... seems odd to punish someone for life for what was known to be shared downturn.
Anyway, just wanted to know one way or another. Amex's policy is their own. Plenty of other cards available... just liked the look of those cashback rewards on business spends.0 -
camelot1971 wrote: »Repeating the same link over and over doesn't make your argument any better.
Amex told the OP why they don't want to do business - it's not a "secret". I'd imagine if the OP did a SAR it would say the same thing - you owed us money, we don't want to do business with you.
No court is going to force a company to give a person credit, especially a person who didn't pay their previous debts, regardless of how long ago it was.
If someone owed you thousands would you forget it after 6 years and lend them some money again?
We are discussing a blacklist, not the willingness or unwillingness to do business.
In short, if they didn't tell the OP about it then either they are breaking the law or it doesn't exist.0 -
We are discussing a blacklist, not the willingness or unwillingness to do business.
In short, if they didn't tell the OP about it then either they are breaking the law or it doesn't exist.
I'm not sure why you are struggling with the concept of this.
A blacklist would mean the company wouldn't tell you why they don't want to deal with you or they would lie. Amex aren't lying - they are completely transparent that it is because you owed money you didn't repay.
A company keeping a list of people who didn't pay their debts is not illegal.0 -
Hijacking this point...
I don't think Amex should be 'forced' into accepting a customer that hasn't performed as well as they would have liked. But comparing it to a mate owing you money is bad analogy.
Before selling the debt on, Amex made thousands more in interest payments. The fact that it ended badly is my fault - but Amex's net balance is definitely up, overall.
I doubt that the interest charged and paid was more than the capital borrowed in the first place that hasn't been paid back but it's not about profit, it's about the principle.
You are saying that Amex or any other credit company should "forgive" you but why should they?0 -
There is a way around it.
1. Default on AMEX card, go bankrupt, etc
2. Finish your bankruptcy and become discharged
3. Move house
4. Wait at least 8 years for the address link to vanish, verify this by looking at your credit report with all CRAs. Do not apply for an Amex card until there is no link or you must return to step 3 and wait another 8 years.
5. Apply for Amex card, they will not know you are the same person as the person that defaulted.
This involves 8+ years of waiting, possibly up to 11+ years, as every application you make for a non-amex card in the first 3 years or so of residence of your new address may form an additional link that will stay for 8 years.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards