Several years ago I had several credit cards i quit paying when I went to alcohol rehab. I never paid them.?
But, recently, I applied for the American Express Gold and was approved. How is this possible. One of the cards i did not pay previously was American Express!
The Answer : Bad debts can not be reported on your credit history after 7 years. So all of those bad marks are gone. Chances are AMEX wiped your records clean years ago when they charged of the account.Relax...get on with your life and this time pay your bills on time. If you continue with good credit practices your scores will continue to improve.
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