Does Amex Optima Oasis report to CRA's

Red1Blue · ‎10-10-2007

Did any choose the Amex Optima Oasis program to regain the Amex Membership? Does Amex report the payment expeirence on these card to all 3 CRA's? I got an offer, I am debating if I should take it.

Takunda1 · ‎10-10-2007

yes they do. after about 2 months. when they start reporting , write them and ask them to remove the derogatory info from the previous account. they'll gladly do it. To top it off, your new Optima card will report on your CR with the opening date of your closed account.

Red1Blue · ‎10-10-2007

Thanks for the reply. How much time does it take to get the card from the day the old amount paid? What is the credit limit they would provide on the new card?

opsrex · ‎10-10-2007

@Takunda1 wrote:
yes they do. after about 2 months. when they start reporting , write them and ask them to remove the derogatory info from the previous account. they'll gladly do it. To top it off, your new Optima card will report on your CR with the opening date of your closed account.

I have heard that before, but that was not my experience with the Oasis program. They would not remove the baddie, but they did cut six months of the drop off date. Since it was due to drop off a couple of months after I asked I didn't worry about it. Also, the date on my cards (Clear and Gold Rewards) does not reflect my previous history, just back to the date when I received the Optima card. When the baddie fell off, I lost that history.

opsrex · ‎10-10-2007

About 30 days after the payment is made, they send you an application. I then takes about 2 weeks to get the card. Your cl will be half the past due balance. The card is not eligible for a cli.

Red1Blue · ‎10-10-2007

Once the old balance paid and got the new Optima, can we apply for a seperate card for a small business? I am not sure if Amex allows multiple cards or not? I am building a small business and it would be definitely helpful to get a seperate card for business. Does Amex grant multipe cards to users?

Anonymous · ‎10-10-2007

time for racacajun (hope i spelled that right), i think she has one of every card they issue! so i'm pretty sure they are ok w/multiple cards.

Red1Blue · ‎10-10-2007

One more thing. Does any one know what is the conditions creditor can start the clock on the debt again? I read it some where that they can start the clock again even if we make a $5 payment on the debt. Does talking to Amex verbally over the phone about the old debt start the clock again? I better check before I talk to Amex. Though Oasis might be a good deal, I just to make sure, I dont get into more trouble just talking to them about the letter they sent to me.

Takunda1 · ‎10-10-2007

concorduser wrote:
One more thing. Does any one know what is the conditions creditor can start the clock on the debt again? I read it some where that they can start the clock again even if we make a $5 payment on the debt. Does talking to Amex verbally over the phone about the old debt start the clock again? I better check before I talk to Amex. Though Oasis might be a good deal, I just to make sure, I dont get into more trouble just talking to them about the letter they sent to me.

Amex is good to its word. My experience was exactly as I mentioned above. If you pay in full as they are offering they will do everything they say. Two months after I got my Optima I applied for Amex Blue Cash, because Optima has no rewards or anything...and they approved me. Your Optima cards credit limit is going to be 50% of the card that was charged off.

Bottom line is you are going to have to pay that bill unless you file BK. If you have the money, pay it now and at least get something out of it.

Takunda1 · ‎10-10-2007

@opsrex wrote:
@Takunda1 wrote:
yes they do. after about 2 months. when they start reporting , write them and ask them to remove the derogatory info from the previous account. they'll gladly do it. To top it off, your new Optima card will report on your CR with the opening date of your closed account.
I have heard that before, but that was not my experience with the Oasis program. They would not remove the baddie, but they did cut six months of the drop off date. Since it was due to drop off a couple of months after I asked I didn't worry about it. Also, the date on my cards (Clear and Gold Rewards) does not reflect my previous history, just back to the date when I received the Optima card. When the baddie fell off, I lost that history.

They do not remove baddies. The just delete the whole trade line and put your Optima cards new TL in its place.