What does AMERICAN EXPRESS mean on my credit report?

Is AMERICAN EXPRESS making an impact on your credit score?

Updated January 1, 2023

What is AMERICAN EXPRESS?

AMERICAN EXPRESS is shorthand for American Express, with the company name being American Express

AMERICAN EXPRESS is a Creditor provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with American Express.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $1400.

  • ⚫ The average high credit balance is $4700.

  • ⚫ The average credit limit is $3300.

How do I contact them?

Here is the current contact details for American Express:

Address:

  • World Financial Center, 200 Vesey St, New York, NY 10285, United States

Website:

Email:

Phone:

Payments

you can make payments with your American Express Card using a variety of methods including one-time payments, automatic payments, online payments, and mobile app payments. You can also make payments with a prepaid debit card, wire transfer, or check. There may be penalties for late or missed payments.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? Yes
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

American Express offers loan forgiveness and consolidation to its cardholders. To qualify for loan forgiveness, customers can make one-time payments or set up automatic payments. There may be costs associated with using your Card to pay bills. You can earn rewards for bills paid with your Card.

Question Answer
Do they offer loan forgiveness? Yes
Do they offer loan consolidation? Yes

How to Apply

You can apply for a loan online, over the phone, or in person. You can also use a mobile app or have a cosigner. American Express offers rewards, convenience, control, and security when you pay bills with it.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

AMERICAN EXPRESS IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

How do I remove AMERICAN EXPRESS from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.