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Just got offered an AMEX Optima rebuilder today Apr. 17th 2014

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onepointatatime
Contributor

Just got offered an AMEX Optima rebuilder today Apr. 17th 2014

Hello everyone.  I've been wanting to re-establish a relationship with AMEX and someone had suggested to look into the AMEX Optima/Oasis card, which I had never heard of.  To my surprise, I got a letter today in the mail from American Express offering me an AMEX Optima - if I pay off my old balance in full.  They say I will be approved as soon as payment is received (unless I've gone bankrupt, and certain other exceptions).  So for one, this answers the question that some people have on this forum as to whether or not the Optima card still exists.  It does!

 

I am going to try and see if I can get them to also either PFD, or change the old bad payment info to positive and backdate my old account.. I'm not even sure if they can do such a thing, but it probably doesn't hurt to try.

 

I'll post back on this thread to update everyone as to what happens!



Sep 2013: mid 500s | Sep 2014: myfico: EX 539 | EQ 594 | TU 694 || My Rebuilding Journey
myfico, 12/3/2015: EX 666 | EQ 677 | TU 689 | AAoA : 3y | INQs (12/24) EX 11/13 | EQ 5/9 | TU 4/7
Cards: Chase Sapphire Pref. $6K | BoA Travel Rewards $1.6K | Cap1 QS Rewards $7.5K | Priceline $0.5K | Credit Union $2K | Total (5) Revolving CLs: $17.6K
Goal Score 2015: FICO08 800+
Message 1 of 22
21 REPLIES 21
myjourney
Super Contributor

Re: I just got an invitation for an AMEX Optima today


@onepointatatime wrote:

Hello everyone.  I've been wanting to re-establish a relationship with AMEX and someone had suggested to look into the AMEX Optima/Oasis card, which I had never heard of.  To my surprise, I got a letter today in the mail from American Express offering me an AMEX Optima - if I pay off my old balance in full.  They say I will be approved as soon as payment is received (unless I've gone bankrupt, and certain other exceptions).  So for one, this answers the question that some people have on this forum as to whether or not the Optima card still exists.  It does!

 

I am going to try and see if I can get them to also either PFD, or change the old bad payment info to positive and backdate my old account.. I'm not even sure if they can do such a thing, but it probably doesn't hurt to try.

 

I'll post back on this thread to update everyone as to what happens!


Not many people get this rare Amex offer ....Jump on it now

Amex is forgiving of anyone in this program and then will backdate to your orginal member since date once approved ...

Most wait 2-3 months after payoff to apply tho YMMV 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 22
onepointatatime
Contributor

Re: I just got an invitation for an AMEX Optima today

Hi, thanks for the response.. so to your knowledge they do backdate?  Also, do you know if they would consider changing the old bad payment info to positive?  My DoFD was in the summer of '09, it's 5 years old at this point.  Of course, if they don't but they do backdate - then in 2 years it would be like starting fresh + having a backdated (to 2007) AMEX, since the bad stuff will fall off in 2016 anyway...



Sep 2013: mid 500s | Sep 2014: myfico: EX 539 | EQ 594 | TU 694 || My Rebuilding Journey
myfico, 12/3/2015: EX 666 | EQ 677 | TU 689 | AAoA : 3y | INQs (12/24) EX 11/13 | EQ 5/9 | TU 4/7
Cards: Chase Sapphire Pref. $6K | BoA Travel Rewards $1.6K | Cap1 QS Rewards $7.5K | Priceline $0.5K | Credit Union $2K | Total (5) Revolving CLs: $17.6K
Goal Score 2015: FICO08 800+
Message 3 of 22
myjourney
Super Contributor

Re: I just got an invitation for an AMEX Optima today


@onepointatatime wrote:

Hi, thanks for the response.. so to your knowledge they do backdate? Fact they will backdate upon approval of next card 

Also, do you know if they would consider changing the old bad payment info to positive? No it will not turn positive but they will let you back in and showing Amex will open more doors

 

My DoFD was in the summer of '09, it's 5 years old at this point.  Of course, if they don't but they do backdate - then in 2 years it would be like starting fresh + having a backdated (to 2007) AMEX, since the bad stuff will fall off in 2016 anyway...Yep you got it.


 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 22
tomfromrictmame
Frequent Contributor

Re: I just got an invitation for an AMEX Optima today


@myjourney wrote:

@onepointatatime wrote:

Hi, thanks for the response.. so to your knowledge they do backdate? Fact they will backdate upon approval of next card 

Also, do you know if they would consider changing the old bad payment info to positive? No it will not turn positive but they will let you back in and showing Amex will open more doors

 

My DoFD was in the summer of '09, it's 5 years old at this point.  Of course, if they don't but they do backdate - then in 2 years it would be like starting fresh + having a backdated (to 2007) AMEX, since the bad stuff will fall off in 2016 anyway...Yep you got it.


 


+1  I am about 20 points away from canceling and then applying for the BCE.  I also GW'd them and they deleted the rerog info.  I assume your CL was approximately 1/2 of your previous CL.  My card was backdated to 1981.




AMEX Platinum NPSL | BofA Cash Rewards Visa $50K | NFCU Sig Visa $27K | Chase Marriott Rewards Visa $25K | AMEX Delta Skymiles $25K | BofA Sig Visa $25K | First Tech Odyssey MC $25K | AMEX HHonors Surpass $23K | Chase United Club Unlimited Visa $20K | Barclays AAdvantage WMC $17K | NFCU LOC $15K | NASA Platinum Visa $15K| NFCU Sig Visa $14K
Message 5 of 22
pip3man
Valued Contributor

Re: I just got an invitation for an AMEX Optima today

I also got this Optima offer for a while now but I'm yet to pay them. Not sure if I really want it due to certain restrictions that comes with the card. So my thing is, since my credit is almost clean (should be negative free by next month) I'll pay off that balance and wait for a couple months and apply for their regular card. Hopefully I should be in good shape to qualify on my own... Take up that offer tho and let us know how long it took them to send the application after full payment..

Message 6 of 22
alvon123
Super Contributor

Re: I just got an invitation for an AMEX Optima today

congrats on the offer Smiley LOL


Message 7 of 22
onepointatatime
Contributor

Re: I just got an invitation for an AMEX Optima today

Ok, here's an update.  I called the Oasis number listed in the backdoor thread, but the office was closed (btw the recorded message there said something about West Managment? Is it even AMEX?).  I called another number in the backdoor thread and talked to someone after providing my SSN, DOB etc.

 

She said the following : my offer letter was *not* sent by AMEX, it was sent by an outside collection agency - in my case, VELDOS LLC.  She informed me that the outside collection agencies send those Optima offer letters to entice people to get back into AMEX.. sounds reasonable.  She insisted that I call them directly (she provided the same number that's listed in the offer letter) for any questions.  She would not answer any questions about the Optima card as the offer doesn't come from them.  Actually, she went further and claimed that AMEX does NOT send Optima offer letters, period... which I found interesting.  She said it's *always* the case that it's an outside collection agency's offer, and not AMEX directly.

 

I then asked her - what if I were to pay off my balance in full (directly with the collection agency at this point), and *not* apply for the Optima.. but instead apply for a card I actually want, like a PRG, or a Platinum.. and she said - "at that point, if you've paid off your balance in full - you would be assessed for a new card by your credit report just like any other customer - no better, no worse".

 

The card/debt I burned them on falls off my report in exactly 2 years, April 2016.

 

Before I proceed, I would like to ask this great community for advice - what do you think I should do?  In any case I decided to pay it off at some point, simply because I want an AMEX again - even though my debt is pretty steep, it was 8k I walked away from during the financial crisis in '09, and the balance is now over 9k.  She said there was no way on earth I would get any type of AMEX card in the future unless I paid off my balance.  Of course, some on this forum have fallen through the cracks and were able to get one even after burning them and never settling up - but these were people who originally burned them in the '90s mostly.. so I think the record keeping might be different now.

 

 



Sep 2013: mid 500s | Sep 2014: myfico: EX 539 | EQ 594 | TU 694 || My Rebuilding Journey
myfico, 12/3/2015: EX 666 | EQ 677 | TU 689 | AAoA : 3y | INQs (12/24) EX 11/13 | EQ 5/9 | TU 4/7
Cards: Chase Sapphire Pref. $6K | BoA Travel Rewards $1.6K | Cap1 QS Rewards $7.5K | Priceline $0.5K | Credit Union $2K | Total (5) Revolving CLs: $17.6K
Goal Score 2015: FICO08 800+
Message 8 of 22
onepointatatime
Contributor

Re: I just got an invitation for an AMEX Optima today

In addition to what I said in my update, I also want to say that AMEX has confirmed that this VELDOS LLC company is now the owner of this debt... so I guess AMEX did sell it off.

 

Question - does anyone out there know if there is any advantage in me talking AMEX into buying the debt back, so I then PIF AMEX directly?  Or does it make absolutely no difference?  I'd like the old derogatory info removed, and have my new card backdated.  From what I read from others in this forum, getting backdated is automatic many times, and if not a simple request via phone can fix that.  However I'm unsure about asking them to remove the years of baddies (5 years' worth).. does a collection agency even have the power to remove baddies, or does only the OC have that power?  Any insight is greatly appreciated!

 



Sep 2013: mid 500s | Sep 2014: myfico: EX 539 | EQ 594 | TU 694 || My Rebuilding Journey
myfico, 12/3/2015: EX 666 | EQ 677 | TU 689 | AAoA : 3y | INQs (12/24) EX 11/13 | EQ 5/9 | TU 4/7
Cards: Chase Sapphire Pref. $6K | BoA Travel Rewards $1.6K | Cap1 QS Rewards $7.5K | Priceline $0.5K | Credit Union $2K | Total (5) Revolving CLs: $17.6K
Goal Score 2015: FICO08 800+
Message 9 of 22

Re: I just got an invitation for an AMEX Optima today

I included an Amex in my bankruptcy (it was long since charged off) to the tune of about $1500. I'm not even sure I'd pay THAT to get an Amex card again, much less $8-9k.

 

Is it really that important to have a credit card that you'll pay that much for it? It is just a credit card at the end of the day. I understand the good feeling of having a credit card from a well-respected bank, but at the end of the day we have to be accountable for our actions and accept that because of them we may lose opportunities that others get to have and have nobody to blame but ourselves.

 

Personally I am hoping to have a Citi or Disover card again, but Amex is a no go. 

Discover IT $2000 CL | Amex BCE $500 CL
Wishlist: Citi Double Cash, Chase Sapphire Preferred, BOA BankAmericard Travel Rewards, Wells Fargo Platinum
Message 10 of 22
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