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Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011
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Re: Amex Optima/Oasis program


Mumford1310 wrote:

"any cards you app for from Amex will be an instant denial (wont even pull). Im not complaining" <---According to the OP, this Optima AMEX card is the reason for my denial.  Is this correct?  I've had the card close to two years now with a $500 credit limit.  Should I close this account, wait 6 months then apply for a Zync?



I woundnt see why you would have to wait 6 months... the auto deny you for having a "ongoing recovery product" but its a gamble since once you close the Optima card it cannot be reopened. Good Luck

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Established Member
Posts: 34
Registered: ‎03-24-2012
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Re: Amex Optima/Oasis program

I just got off the phone with the Oasis program w/Amex. I was told the Optima card is a way back to rebuild your relationship with AMEX. I was told an automatic denial is not true when applying for a new AMEX product while currently having an open Optima account. OP, please refer me to the initial department that provided you with this information.
If this is true, I rather close my account because it has a measly $500 credit limit and I was already told a credit limit increase is unavailable on all Optima accounts.

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Established Contributor
Posts: 757
Registered: ‎05-05-2010
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Re: Amex Optima/Oasis program


Mumford1310 wrote:
I just got off the phone with the Oasis program w/Amex. I was told the Optima card is a way back to rebuild your relationship with AMEX. I was told an automatic denial is not true when applying for a new AMEX product while currently having an open Optima account. OP, please refer me to the initial department that provided you with this information.
If this is true, I rather close my account because it has a measly $500 credit limit and I was already told a credit limit increase is unavailable on all Optima accounts.

Thank you for checking and updating us all.

 

This is great news that you do not have to close your Oasis Card to apply for another Amex product.

 

 

New Contributor
Posts: 68
Registered: ‎02-29-2012
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Re: Amex Optima/Oasis program


sjt wrote:

Mumford1310 wrote:
I just got off the phone with the Oasis program w/Amex. I was told the Optima card is a way back to rebuild your relationship with AMEX. I was told an automatic denial is not true when applying for a new AMEX product while currently having an open Optima account. OP, please refer me to the initial department that provided you with this information.
If this is true, I rather close my account because it has a measly $500 credit limit and I was already told a credit limit increase is unavailable on all Optima accounts.

Thank you for checking and updating us all.

 

This is great news that you do not have to close your Oasis Card to apply for another Amex product.

 

 


I don't believe that this is correct! I am the holder of the Oasis card for three months now. My scores on EX and TU are in the low 700s. I apped within less than a months of obtaining the Optima and got the dreaded denial b/c of having  "active recovery card". I immediately call the CSR at Amex and was told it shouldn't be a factor in me obtaining a regular Amex card, so I believe that I now qualify for one of their charger product. I then called the executive office and was told that as long as I have the Optima, I cannot get a regular card nor can I product change. I would have to close the Optima card, then apply. Now the active recovery product was the only concerns that Amex stated fin the denial, even though I have 3 charge offs from 2.5 years ago). This is leading me to believe that I am now eligible to obtain a regular charge card from them (originally apped for a PRG), but I am not in any rush since I have a CL OF 5k on the Optima. My file is very thick though, with several PIF mortgages LOCs, multiple Amex charge and revolver cards which were close (by me) a few years ago with CL in excess of 20K  on their revolver card (at that time).

 

I am interested to hear from people who held the Optima at one time, and the score that they were approved with for a regular product with Amex (once they close out the Optima). How long they kept the Pptima Card before decided to close it then apped for a regular Amex card. Also how long after they close the Optima card, were they able to get regular charge/revolver card approval.

Regular Contributor
Posts: 195
Registered: ‎08-01-2008
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Re: Amex Optima/Oasis program

I have had my Optima Card for 4 years now. I recently applied for the Green Charge and was declined. I called the backdoor number and asked for the reason and she said its because I currently have a recovery product of theirs and that I need to close it and reapply. I apped a week ago.

;Starting Score: Low 500s FICO Aug 2008
Current Score: EQ 668 EX 723 TU 723 (All FICO)
Goal Score: 720s Across the Board! Almost there!

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Established Member
Posts: 34
Registered: ‎03-24-2012
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Re: Amex Optima/Oasis program

You know, I really dont neeed this credit card.  I think I'm going to close it.  My only question is how long should I wait after closing it to apply for another AMEX card?


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Regular Contributor
Posts: 195
Registered: ‎08-01-2008
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Re: Amex Optima/Oasis program

From my understanding, you can close it and just wait a day or two and then apply for another card.

;Starting Score: Low 500s FICO Aug 2008
Current Score: EQ 668 EX 723 TU 723 (All FICO)
Goal Score: 720s Across the Board! Almost there!

Cap1 NHR ($1250), GE Rooms2Go ($4k), WalMart Discover ($3250), Barclay's Rewards MC ($2k), Amex BCE ($5K), Kohl's ($1K), Chase Freedom ($3K), Discover More ($1K)
New Contributor
Posts: 68
Registered: ‎02-29-2012
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Re: Amex Optima/Oasis program

After you close the Optima card and apply for a different product, please come back and continue posting (you results) in this thread so other may be able to learn from your experience. It's people like us ( including you), through personal experiences, who come back and share valuable informations, help to educate others folks in the forum, who will ultimately "walk the same road" you walked before.

Established Contributor
Posts: 757
Registered: ‎05-05-2010
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Re: Amex Optima/Oasis program

Its so fustrating to get conflicting information from Amex.

 

I have heard many folks get other card products while having an active Oasis/Recovery Card Product.

 

Im wondering if there were actually other reasons for the decline and they just used the "having a Recovery Card product" as an excuse.

 

 

Established Member
Posts: 34
Registered: ‎03-24-2012
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Re: Amex Optima/Oasis program

**Official Update***

I called the backdoor executive office this morning, and flat out asked. "Does AMEX issue new products to current customer of the Optima card program?"  The representative replied from her understanding they do not.  She said she will call over to new accounts to verify and will provide me an update on 1. Confirmation on if current recovery product holders are ineligible for new AMEX accounts 2.  Customarily how long should a customer wait after closing their Optima card to re-apply?

 

The representative was able to view, I had two years of on-time payment history and I PIF at every statement.  I'll provide an update shortly.  I'm going to get to the bottom of this.  I at least deserve a $200 credit limit on a AMEX Zync!!


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Current Score: EQ 656 EXP696 TU 677
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