Does any one have any Answer from Amex about the Active Recovery Product issue?

[Red1Blue]

Does any have any firm answer as to what is their policy on the "Active Recovery Product"

I am planning on writing a letter to Amex to day, asking them to explain what this means when they decline the applicaiton and what is ther procedure to deal with this card.

When I choose to get the card back in Nov, no one said any thing about having this card would prohibit getting another card. I want to have a clear statement from Amex as to what their policy is with this card.

[Anonymous]

After some Googling around-

It seems to be they will review your account at 6 months to be upgraded to a regular card (if you qualify)  and then again at 12 months. At 12 months they will either upgrade you or close the account.

Your story is the only one I found that got another card while having an  Active Recovery Product.

Be prepared for a F/R at the 6 month mark-

AMEX (beyond your application and other documents they sent you) has NOTHING about this product publicly available.

[Red1Blue]

Hi Timothy, I am more confused now. If you remember couple of weeks ago there was post about some apping for blue and not getting the card with the message "active recover card". That poster stated had the card for at least 14 months and the card is still active. Never cancelled or upgraded.

When I talk to Oasis Team when I apped they said the card is not eligible for CLI or Product Change.

I wish, Amex would have a clear guidelines. As far as I am concerned,  I am not going to use Oasis card as there is rewards attached to it. I am going to use my Platinum card to get the rewards.

Oasis would look nice on my CR with $5K CL. Other than that it is not going to serve any other purpose unless they convert it to Blue or Delta or some other card.

[Anonymous]

I am perfectly aware-

Alot of my searches were on "The Dark Side"

Seems AMEX is gonna check you out at the 6 month mark and based on what I know about your profile- upgade you to a non-Recovery Product

As I stated- I think there was some kind of great fluke for you to get your Plat-  

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concorduser wrote:

Hi Timothy, I am more confused now. If you remember couple of weeks ago there was post about some apping for blue and not getting the card with the message "active recover card". That poster stated had the card for at least 14 months and the card is still active. Never cancelled or upgraded.

When I talk to Oasis Team when I apped they said the card is not eligible for CLI or Product Change.

I wish, Amex would have a clear guidelines. As far as I am concerned,  I am not going to use Oasis card as there is rewards attached to it. I am going to use my Platinum card to get the rewards.

Oasis would look nice on my CR with $5K CL. Other than that it is not going to serve any other purpose unless they convert it to Blue or Delta or some other card.

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[Anonymous]

I called Amex this morning, just for the heck of it, to ask about this.

I was told that they would not under any circumstances give the Oasis Optima to someone with an existing Amex account regardless of that account's standing.

I was also told that at the one year anniversary of Optima's issuance, if a good payment history had been established, Amex would convert the Optima to a different card. He said that no other account could be opened as long as the Optima account remained open. The rep said that if the cardholder wanted a different card before the 1 year mark, they could apply for one, but the Optima would need to be closed first in order to get approved for anything else.

I asked if the Optima was at risk for cancellation due to any FR that Amex does. The rep said the only way it'd get yanked is if you fell behind on payments.

Personally, I don't believe this. I think that Amex can/will pull the plug on you for any reason they see fit. see: http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=17821

I agree with Timothy -- I think Concorduser got lucky. Perhaps when he was approved for his Platinum, his Optima had not yet registered somewhere in Amex's system? I hope they don't catch their mistake and yank his Platinum. In his shoes, I think I'd probably close the Optima before they caught it in FR.

[Red1Blue]

Right now my Optima has CL of $5K on it. I am not going to use it as it does not have any rewards associated with it. It is just going to sit on my CR and add age to my accounts. Let the card sit on my CR's and help the age of other accounts since it is listed as issued on 1995.

Unless Amex approve me for a better card it does not make sense for me to voluntarily cancel the Oasis card. As per Amex,  If they attempt FR or do any thing with any of my accounts, flash of a second I am going to kick those cards to curb. I have other cards with better limits and better benefits. It is only loss to Amex. Not to me.

As per the Platinum, I am using it to charge purhcases and making PIF what ever balance listed on the account  Friday through BOA Billpay. I am not sure why they should complain about some making payments ahead of the statment date.

[opsrex]

I agree with Timothy. If the op does in fact have a plat card, it was a ginormous disconnect on the part of someone at amex. The op has said here and on other posts that he "chose" to get an oasis. In point of fact, he was offered a recovery card due to a prior payment problem with amex. That is the only time the Oasis card comes into play. It is not entirely true that if you have a recovery card you cannot have any other card. While carrying an Oasis, I was approved for a both a green and clear card. But I also had over one year of perfect history with the Oasis card before applying.

I would like to know why the op keeps wanting to poke the tiger with a stick.

[Anonymous]

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opsrex wrote:
It is not entirely true that if you have a recovery card you cannot have any other card. While carrying an Oasis, I was approved for a both a green and clear card. But I also had over one year of perfect history with the Oasis card before applying.

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It seems to be a relatively new rule.  I never saw anyone denied with reason until a couple of months ago.

It probably was not the rule when you got your Green and Clear.