Amex Offer: Optima to Blue Cash Everyday

[EW800]

Hi Everyone,

I have recevied an e-mail offer from Amex, advising that I have been selected to apply for upgrading my Amex Optima Card to the Blue Cash Everyday Card.  I am hoping to get your opinion if I should consider applying or not, under my circumstances.  

-- I currently have an Amex Optima card.  I've had it since 1997, so about 17 years.  CL is $9,500.  APR is 15.24%, but I carry no balance.  

-- I have been going throuhg a major credit rebuild over the past 2+ years after a foreclosure.  I have been able to get my scores up to what you see below - 715 range.  

-- I PIF with Amex every month and my total Until is less than 1%.  I PIF before the statement cuts every card except one or two, every month.  Maybe this is why I got the offer?

Here are my questions:

-- If I am a current cardholder with Amex and they send me this offer to apply for another product, are odds pretty good that I would be approved?

-- If approved, is it likely  that they would give me the same or higher CL?  I currenly have $9.5K with Amex.  I would hate to change cards and end up with $2K or similar.  

-- Would my AoA likely remain the same?  I would hate to lose the 17 year history of the current card.  

-- Would this likely be a HP?  As part of my rebuild I have been trying to avoid HP's.  I curerntly have no HP's on Exp and TU, and one on EQ that is about five months old.  Adding one HP would not be the end of the world, but something I have been trying to avoid as part of my rebuild.    

Thank you!!

[Anonymous]

After all your questions, I can't think of any reason not to do it.  It's all good for you.

[coldnmn]

If you apply for a new card don't respond to the Email in case it's not legitimate. If denied a SP approved HP. Your member since date on the new card will be backdated to MSD 09/97 if you wait until January MSD would be 01/97. I don't know what the CL would be sorry.

[longtimelurker]

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@EW800 wrote:

Hi Everyone,

I have recevied an e-mail offer from Amex, advising that I have been selected to apply for upgrading my Amex Optima Card to the Blue Cash Everyday Card.  I am hoping to get your opinion if I should consider applying or not, under my circumstances.  

-- I currently have an Amex Optima card.  I've had it since 1997, so about 17 years.  CL is $9,500.  APR is 15.24%, but I carry no balance.  

-- I have been going throuhg a major credit rebuild over the past 2+ years after a foreclosure.  I have been able to get my scores up to what you see below - 715 range.  

-- I PIF with Amex every month and my total Until is less than 1%.  I PIF before the statement cuts every card except one or two, every month.  Maybe this is why I got the offer?

Here are my questions:

-- If I am a current cardholder with Amex and they send me this offer to apply for another product, are odds pretty good that I would be approved?

-- If approved, is it likely  that they would give me the same or higher CL?  I currenly have $9.5K with Amex.  I would hate to change cards and end up with $2K or similar.  

-- Would my AoA likely remain the same?  I would hate to lose the 17 year history of the current card.  

-- Would this likely be a HP?  As part of my rebuild I have been trying to avoid HP's.  I curerntly have no HP's on Exp and TU, and one on EQ that is about five months old.  Adding one HP would not be the end of the world, but something I have been trying to avoid as part of my rebuild.    

Thank you!!

---

It's hard to know without knowing what "upgrade" means!   If this is a straight product change (which it probably is) you should be fine.  Basically, all history, CL, APR etc are transferred from the old card to the new, there is no HP, or impact to the age of the account as the old card is replaced by the new.

Now, if they actually want you to apply fresh for the new card it is different (but I don't see why they would refer to this as an upgrade).   There the APR and CL could be anything.  There still shouldn't be a HP, and the card would backdate, so you would gain a new account that was 17 years old.

But I am guessing that it is a product change, and then I agree, absolutely go for it.

[jamesdwi]

upgrade tends to mean PC, no HP. If it was me I would go ahead and pull the trigger and AP for a new BCE or BCP as your spending supports. A new TL that shows up as 17 years old, would do wonders for your AAoA. Thanks to backdating you could even close the Optima card in a couple months and it will continue to report for the next 10 years. 

[Anonymous]

Why don't you just call them and see what they had in mind?

[SunriseEarth]

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@EW800 wrote:

Hi Everyone,

I have recevied an e-mail offer from Amex, advising that I have been selected to apply for upgrading my Amex Optima Card to the Blue Cash Everyday Card.  I am hoping to get your opinion if I should consider applying or not, under my circumstances.  

-- I currently have an Amex Optima card.  I've had it since 1997, so about 17 years.  CL is $9,500.  APR is 15.24%, but I carry no balance.  

-- I have been going throuhg a major credit rebuild over the past 2+ years after a foreclosure.  I have been able to get my scores up to what you see below - 715 range.  

-- I PIF with Amex every month and my total Until is less than 1%.  I PIF before the statement cuts every card except one or two, every month.  Maybe this is why I got the offer?

Here are my questions:

-- If I am a current cardholder with Amex and they send me this offer to apply for another product, are odds pretty good that I would be approved?

-- If approved, is it likely  that they would give me the same or higher CL?  I currenly have $9.5K with Amex.  I would hate to change cards and end up with $2K or similar.  

-- Would my AoA likely remain the same?  I would hate to lose the 17 year history of the current card.  

-- Would this likely be a HP?  As part of my rebuild I have been trying to avoid HP's.  I curerntly have no HP's on Exp and TU, and one on EQ that is about five months old.  Adding one HP would not be the end of the world, but something I have been trying to avoid as part of my rebuild.    

Thank you!!

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Why is this even a question?   Yes, 100% yes