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New Contributor
Posts: 68
Registered: ‎02-29-2012
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Amex denial b/c Optima

I applied for the green card last week, and was  denied (not instantly). The denial letter states that I am in a credit counseling services progrm. Yes, this was listed on my experian report. A few years back I did use the services but that has ended. I have since cleaned up my report removing his statement/notation from the bureaus. I aslo just received an Optima Card through the regain membership program (actually applied before receiving the card itself). I received this card after a 10K CO (now PIF) on a Blue Sky card. I tried to recon with the executive office, even sending in a clean report showing the removalof the credit counseling notation, but the nice lady called me back and told me that I would have to close the Optima in order to reapply (with no guarantee). Got "cold feet" and told her I'll wait a couple of month then try again. 

 

Amex did not provide my score, so I have been wondering what my experian FICO score really was, since tAmex did not say any other negative about the score of the other baddies( three 90 days late 2+ years ago) on my report. In my quest to find the trust, I finally called the number on the denial letter and the guy with the "indian accent" said "I cannot tell you your score, but, lets say it's over 700". I then asked is it near 70, he said no! I couldn't believe him, so I called again and got a different rep and she immediately told me it ws 718.  This is so not cool that the bureau numbers are so far apart from each other, at least in my case.

 

My questions to all:

 

1. How can that be true (score over 700)?  My EQ is only 665 and my TU is 655, per this site (MYFICO). My Optima have a membeship date of 1988, so that must have helped me with Amex internal scoring system. I understand that you can log in to Amex site (cardmember only) and get EQ Fico score. I also saw a thread foating around that said it's a real EQ Fico score too.

 

2. I guess I could keep my Optima card and try for a GOLD card in two months. What are my chances?

 

3. For those of you that wnet the Optima route, approximatley how long after getting your Optima card, were you able to close it and then apply and get approved for another Amex product. What was your EQ Fico score when you got the PC.

 

Thank you!

Super Contributor
Posts: 6,737
Registered: ‎05-23-2009
0

Re: Amex denial b/c Optima

You need to get rid of that Optima to apply for any Amex card. You make sure your score are above 680 or higher.

 

 

Ron.

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Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Amex denial b/c Optima

You have to wait for 12 months and apply for the regular card. I had my optima for 12 months and then applied for platinium and it is approved for me. I did not close my optima account,

New Contributor
Posts: 68
Registered: ‎02-29-2012
0

Re: Amex denial b/c Optima


Ron1 wrote:

You need to get rid of that Optima to apply for any Amex card. You make sure your score are above 680 or higher.

 

 

Ron.

I was told that my socre is above 700, so that's not bad at all. I think I will wait a few months instead and get the TU and EQ above the 700 marks too.

 

Senior Contributor
Posts: 3,322
Registered: ‎05-05-2011
0

Re: Amex denial b/c Optima

I believe I have read here that you cannot get any other Amex card while you are in the Optima program (or have that card). That is probably why the rep told  you that you would need to cancel the Optima and re-apply for the Amex Gold.

 

You'll need to make a choice, but as long as you have the Optima card, you won't be able to get any other Amex cards (with the possible exception of the co-branded ones that aren't administered by Amex --- like Barclay's Amex and Dillard's Amex from GE, etc.).

 

In terms of your score, I believe that Amex has an internal scoring model that they use after your initial app. Since you're in the Optima program, it's likely that they used that instead of a FICO score. Their internal scoring model range goes higher than FICO, which would explain why your score is over 700 according to them, but less on your FICOs.

 

 

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

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