topic Re: American Express Optima Saga in Credit Card Approvals

American Express Optima Saga

bytechma — Tue, 26 Mar 2024 14:23:07 GMT

I have read on this forum several success stories of folks getting approved and sharing their experiences for the Optima card. Just wanted to say thanks to all, as it helped and lessen my stress during my process. Excited to share that I received my approval this morning!

When I woke up this morning I saw several notifications from Experian, Credit Karma and WalletHub stating my credit was pulled by Amex. It looks like Amex did a double pull from my Experian and TransUnion report. Nothing from Equifax at the moment, but I will update if it was pulled as well.

When I sent my application via USPS, I still had one charge-off from Amex that I did not pay off yet but settled the balance two days later.

Timeline:

2/23/2024

PIF my Amex balance using the Amex link provided. This Optima offer was from Amex directly. But I also received an Optima offer on my other Amex charge off from First Advantage, who was the 3rd party handling that Amex account

2/24/2024

Received an email from Amex stating I was enrolled in the Optima program and that I will be receiving the application in the mail. I called Amex a few times to ask how long it would take for the application to arrive, some agents said two weeks and some said no more than 35 days.

3/18/2024

I received the application in the mail and mailed it out the same day at a USPS location right next to the airport. I thought about mailing it express but it was going to cost $30 to get there in 2 days max and I needed to put the provided envelope by Amex in another USPS envelope. Given the price and having in a different envelope than the one provided by Amex I decided not to ship it express. For some reason I thought it might process faster if was in the same envelop that Amex provided and no mix up on which department it should go to. So the envelope provided has a first class stamp and the USPS agent said it would arrive by Friday (3/22/2024).

3/21/2024

I paid off in a settlement my last remaining charge-off with Amex, through First Advantage. The reps were pushing me to take regain Amex membership through the Optima offer and PIF. But I told them I already submitted an Optima application.

3/26/2024

Around 3:30am CST, I recevied notifications from Experian, Credit Karma and Wallet Hub that American Express did a hard pulll on my credit reports. So I can check the application status link (which I found in this forum, Thanks!) Status Check Authentication (americanexpress.com), and it said I was approved on March 25, 2024.

Pre-Amex Optima Hard Pull Scores

Experian Account: EX: 654 TU: 625 EQ: 628

Credit Karma: TU: 642 EQ: 626

WalletHub: TU: 640

My Scores were a bit higher in Feb 2024 but I had a lot of activity in February and March.

Approvals

Capital One Savor One: 2/2024 (via pre-approval)

Discover IT Secured: 2/2024

Avant Personal Loan: 3/2024, I used it to payoff charge-off accounts Truist, Bank of America, Barclays, and one Amex

Denials

Bilt MasterCard: 2/2024

PayPal Credit Card: 2/2024 (no hard pull)

BOA Business Unlimited: (unsecured & secured, only 1 hard pull for both applications): 3/2024: I plan on calling the reconsideration line

Apple Card: 3/2024 (no hard pull)

Pending

U.S. Bank Cash+ Secured: 3/2024, I deposited $1,000 for my credit limit

Post-Amex Optima Hard Pull Scores

- Only my Credit Karma TransUnion score decreased after Amex pull my credit report (-2 points)

Current Cards

Capital One QuickSilver One Unsecured with $39 annual fee: $500 limit

Capital One Savor One Mastercard Elite: $2,000 limit

Discover IT Secured: $200 limit

American Express Optima: $500 limit

If I get approved for the U.S. Bank Cash+ card, I might try for the Alttiude GO as I have seen data points on this forum of people getting two secured cards from U.S. Bank within a short time frame. Then after that I will move into gardening mode!

Now I can apply for the Amex Business Checking account without fear of having it screw up my Optima application!

Thanks again everyone for all the advice and support!

Re: American Express Optima Saga

Linnaea — Tue, 26 Mar 2024 15:24:52 GMT

Sweet 😋 congratulations

It's marinating time.

Re: American Express Optima Saga

bytechma — Tue, 26 Mar 2024 15:57:25 GMT

@Linnaea thanks! Can't wait for it! 🙌🏼🙌🏼

Re: American Express Optima Saga

CorpCrMgr1 — Tue, 26 Mar 2024 16:12:52 GMT

Congratulations on your approval!

Re: American Express Optima Saga

bytechma — Tue, 26 Mar 2024 16:36:31 GMT

@CorpCrMgr1 Thanks 🙏🏼!!!

Re: American Express Optima Saga

Traveler101 — Wed, 27 Mar 2024 00:09:00 GMT

Congratulations 🎊

Re: American Express Optima Saga

bytechma — Wed, 27 Mar 2024 00:25:58 GMT

@Traveler101 thank you so much! 🙌🏼

Re: American Express Optima Saga

keekers — Wed, 27 Mar 2024 01:18:25 GMT

Congrats!

Re: American Express Optima Saga

bytechma — Wed, 27 Mar 2024 01:58:02 GMT

@keekers Thanks! 🙏🏼

Re: American Express Optima Saga

911gt34life — Wed, 27 Mar 2024 16:46:57 GMT

Any idea how long did it take them to update the credit report after payment was made ..

Congrats on everything..

Re: American Express Optima Saga

NoMoreE46 — Wed, 27 Mar 2024 16:59:41 GMT

@bytechma wrote:
I have read on this forum several success stories of folks getting approved and sharing their experiences for the Optima card. Just wanted to say thanks to all, as it helped and lessen my stress during my process. Excited to share that I received my approval this morning!

When I woke up this morning I saw several notifications from Experian, Credit Karma and WalletHub stating my credit was pulled by Amex. It looks like Amex did a double pull from my Experian and TransUnion report. Nothing from Equifax at the moment, but I will update if it was pulled as well.

When I sent my application via USPS, I still had one charge-off from Amex that I did not pay off yet but settled the balance two days later.

Timeline:
2/23/2024
PIF my Amex balance using the Amex link provided. This Optima offer was from Amex directly. But I also received an Optima offer on my other Amex charge off from First Advantage, who was the 3rd party handling that Amex account

2/24/2024
Received an email from Amex stating I was enrolled in the Optima program and that I will be receiving the application in the mail. I called Amex a few times to ask how long it would take for the application to arrive, some agents said two weeks and some said no more than 35 days.

3/18/2024
I received the application in the mail and mailed it out the same day at a USPS location right next to the airport. I thought about mailing it express but it was going to cost $30 to get there in 2 days max and I needed to put the provided envelope by Amex in another USPS envelope. Given the price and having in a different envelope than the one provided by Amex I decided not to ship it express. For some reason I thought it might process faster if was in the same envelop that Amex provided and no mix up on which department it should go to. So the envelope provided has a first class stamp and the USPS agent said it would arrive by Friday (3/22/2024).

3/21/2024
I paid off in a settlement my last remaining charge-off with Amex, through First Advantage. The reps were pushing me to take regain Amex membership through the Optima offer and PIF. But I told them I already submitted an Optima application.

3/26/2024
Around 3:30am CST, I recevied notifications from Experian, Credit Karma and Wallet Hub that American Express did a hard pulll on my credit reports. So I can check the application status link (which I found in this forum, Thanks!) Status Check Authentication (americanexpress.com), and it said I was approved on March 25, 2024.

Pre-Amex Optima Hard Pull Scores
Experian Account: EX: 654 TU: 625 EQ: 628
Credit Karma: TU: 642 EQ: 626
WalletHub: TU: 640

My Scores were a bit higher in Feb 2024 but I had a lot of activity in February and March.
Approvals
Capital One Savor One: 2/2024 (via pre-approval)
Discover IT Secured: 2/2024
Avant Personal Loan: 3/2024, I used it to payoff charge-off accounts Truist, Bank of America, Barclays, and one Amex
Denials
Bilt MasterCard: 2/2024
PayPal Credit Card: 2/2024 (no hard pull)
BOA Business Unlimited: (unsecured & secured, only 1 hard pull for both applications): 3/2024: I plan on calling the reconsideration line
Apple Card: 3/2024 (no hard pull)
Pending
U.S. Bank Cash+ Secured: 3/2024, I deposited $1,000 for my credit limit

Post-Amex Optima Hard Pull Scores
- Only my Credit Karma TransUnion score decreased after Amex pull my credit report (-2 points)

Current Cards
Capital One QuickSilver One Unsecured with $39 annual fee: $500 limit
Capital One Savor One Mastercard Elite: $2,000 limit
Discover IT Secured: $200 limit
American Express Optima: $500 limit

If I get approved for the U.S. Bank Cash+ card, I might try for the Alttiude GO as I have seen data points on this forum of people getting two secured cards from U.S. Bank within a short time frame. Then after that I will move into gardening mode!

Now I can apply for the Amex Business Checking account without fear of having it screw up my Optima application!

Thanks again everyone for all the advice and support!

Congrats on the Optima

and welcome to myFICO @bytechma .

Re: American Express Optima Saga

gorgon — Wed, 27 Mar 2024 18:38:50 GMT

Congrats on your approval

Re: American Express Optima Saga

bytechma — Wed, 27 Mar 2024 18:58:32 GMT

@911gt34life wrote:
Any idea how long did it take them to update the credit report after payment was made ..

Congrats on everything..

Thanks! Here is what I have seen so far

1st Amex Payment (2/23):

- Transunion updated 2 days ago but my score did not improve

- Experian has not updated yet

- Equifax: updated 2 days ago but my score did not improve

2nd Amex Payment (3/21):

- has not updated on any credit report yet

Hope this is what you were looking for?

Re: American Express Optima Saga

bytechma — Wed, 27 Mar 2024 18:59:16 GMT

@NoMoreE46 thank you!

Re: American Express Optima Saga

bytechma — Wed, 27 Mar 2024 18:59:44 GMT

thank you!

Re: American Express Optima Saga

NoMoreDebt — Sat, 30 Mar 2024 14:25:09 GMT

Congratulations on your approval

Re: American Express Optima Saga

bytechma — Sat, 30 Mar 2024 21:46:13 GMT

@NoMoreDebt Thank you!

Re: American Express Optima Saga

bytechma — Sun, 31 Mar 2024 01:59:34 GMT

@NoMoreDebt @Thank you!

Re: American Express Optima Saga

Legally_Speaking2512 — Sun, 31 Mar 2024 03:36:55 GMT

Congrats on the approval. That's awesome to hear.

Re: American Express Optima Saga

bytechma — Mon, 01 Apr 2024 18:43:57 GMT

@Legally_Speaking2512 @Thanks! 🙏🏼. I just received my card in the mail today and activated it. Feels amazing to be able to use the Amex app again.