A few days ago my "Oasis" Optima card hit its one year birthday. Today I called Amex and they offered me three product change options: Blue, Blue Sky, and Clear. For whatever reason, they couldn't offer membership rewards with Clear, so I chose Blue.
I'm glad Amex followed through on what they promised, and I'm happy I wasn't axed at the 366 day mark.
But ya know, if it still happens, I definitely won't be surprised. A little bummed perhaps, but not surprised.
I asked why the Clear didn't come with Membership Rewards and was told that during some product changes, you might not get the all of the same promos as new accounts. I'm ok with that.. Blue doesn't have an annual fee, and while Clear's "no fees ever" is appealing in print, I've learned my lesson when it comes to going over limit and/or slipping up with lates.
Did not ask for CLI. Was told it would remain the same as the Optima, and would be subject to increases after 90 days.
The interest rate is prime + 6.99.
I never do cash advances, so didn't bother to ask about that.
Blue is more than I would've hoped for 13 months ago. I'll enjoy it and hope it lasts.
So how did the Oasis work for you both, did you apply for an AMEX and they said... you still owe us some coin from way back?
They periodically send out letters to people who've defaulted on cards, offering to restore membership if you pay off the old debt in full. They then issue a basic blue Optima card (high APR, no rewards) with a CLI of 1/2 of your old debt. After one year with no screwups, you can then either apply for a new account or request a product change.
For me it was a good deal. Regained a lot of account history (they restore and report your original membership date).
I'm pretty sure they're still offering this to folks.
Ah ok.. thanks HTSU. After seeing that Clear's APR was a bit higher, I didn't dig any deeper re: the rewards.
On a goofy, superficial level, the appearance of the Blue card is more appealing to me. I've heard Clear described as "bug on a windshield".
Was that you?
HTSU -- how long have you had your Blue? I remember you saying that you were planning on applying for one, but can't recall when that actually happened.