topic Re: AMEX Optima Oasis in Rebuilding Your Credit

AMEX Optima Oasis

Anonymous — Fri, 09 Feb 2018 02:00:15 GMT

Hey Guys,

This is my first time posting in the forum, though I have been reading multiple threads for a little while now. I thought I would jump in and offer my experience with the American Express Optima card and maybe answer some questions for someone since (as everyone here knows) there is VERY little information on the Optima Card online and even within American Express.

So, as has been the case for everyone else here I had an AMEX card and it eventually went to collections. Over the course of a few years I (of course) heard from American Express to pay the balance of the card. I never responded, until last month (January, 2018). Somehow or other I heard about the Optima Oasis card (I think it was this forum), but anyway when I did finally decide to call in and make the payment I mentioned the Optima Card and the Collection Agency (Global Collections) informed me that by paying the balance in full I would be eligible for an Optima Card. I got the standard commentary, once the payment is made and processed I would be mailed a paper application that would need to be completed and mailed back in within 30 days and at that time I would get an Optima card.

So, the timeline:

1/2/18 - Called Global Collections to make the payment

1/3/18 - Payment was debited from my account

1/11/18 - Received confirmation letter stating once payment was made I would receive an application in the mail for an American Express Optima Card (note: the letter was dated 1/3/18, so it took about a week to receive the letter)

1/30/18 - Received Optima Form (hardly an application lol)

1/31/18 - Mailed Optima Application in to American Express

2/7/18 - Got an Equifax notification that American Express initiated a hard inquiry

2/7/18 - Checked the American Express application status site to check on the status of my account: APPROVED.

So, I should receive the card within a week or so. All in all, the process went as it should have gone. I know it can be a little nerve racking waiting for this paper application and then not being able to find ANY information on the card online or even from AMEX as no one really seems to know about the program.

Re: AMEX Optima Oasis

Geordi — Fri, 09 Feb 2018 04:19:36 GMT

wrote:
Hey Guys,
This is my first time posting in the forum, though I have been reading multiple threads for a little while now. I thought I would jump in and offer my experience with the American Express Optima card and maybe answer some questions for someone since (as everyone here knows) there is VERY little information on the Optima Card online and even within American Express.

So, as has been the case for everyone else here I had an AMEX card and it eventually went to collections. Over the course of a few years I (of course) heard from American Express to pay the balance of the card. I never responded, until last month (January, 2018). Somehow or other I heard about the Optima Oasis card (I think it was this forum), but anyway when I did finally decide to call in and make the payment I mentioned the Optima Card and the Collection Agency (Global Collections) informed me that by paying the balance in full I would be eligible for an Optima Card. I got the standard commentary, once the payment is made and processed I would be mailed a paper application that would need to be completed and mailed back in within 30 days and at that time I would get an Optima card.

So, the timeline:

1/2/18 - Called Global Collections to make the payment
1/3/18 - Payment was debited from my account
1/11/18 - Received confirmation letter stating once payment was made I would receive an application in the mail for an American Express Optima Card (note: the letter was dated 1/3/18, so it took about a week to receive the letter)
1/30/18 - Received Optima Form (hardly an application lol)
1/31/18 - Mailed Optima Application in to American Express
2/7/18 - Got an Equifax notification that American Express initiated a hard inquiry
2/7/18 - Checked the American Express application status site to check on the status of my account: APPROVED.

So, I should receive the card within a week or so. All in all, the process went as it should have gone. I know it can be a little nerve racking waiting for this paper application and then not being able to find ANY information on the card online or even from AMEX as no one really seems to know about the program.

Congrats.

I got my Optima card in 2013 with a $500 limit.

Although, I spent between $1700 and $2400 monthly by making multiple payments and never allowing a balance it still sits at $500.

I applied for CLI’s and other AMEX cards over the years. NO DICE!

That is until two months ago. Pre-Approved for PRG, Platinum, and two revolvers. Each revolver has a $1000 SL.

I’ve gotten Discover, Wells Fargo, and a number other cards over the past couple years so I’m happy with my recovery. Only two baddies left to fall off by June of this year.

My FICO scores are between 644 to 697.

Think I will wait for the last two baddies to fall off before I go for any CLIs from AMEX.

Use your Optima Card and pay in full every month. Soon AMEX will bring you back in from the Dark Side.

Re: AMEX Optima Oasis

UncleB — Fri, 09 Feb 2018 02:03:55 GMT

Hi @Anonymous, and welcome to myFICO!

The thread you replied to was quite old, so I've moved your post to a new thread to give the topic more exposure.

Again, welcome!

--UncleB

myFICO Moderator

Re: AMEX Optima Oasis

Anonymous — Fri, 09 Feb 2018 06:21:38 GMT

Thanks for sharing your experience!! It's interesting that despite never carrying a balance and applying for other cards you continued to be denied until 2 months ago and all of a sudden you were PRE-APPROVED for 4 AMEX cards...either way, glad to hear your progress!

Re: AMEX Optima Oasis

Anonymous — Tue, 13 Feb 2018 19:01:28 GMT

Awesome and congrats! I loved my Amex but unfortuantely was unable to keep up with payments and the account was closed. I enrolled in a debt management plan from MMI to pay off Amex and noticed my account on their sight (MMI) says Optima but when I log in to Amex it still has my old green card. I didn't go to collections ever. I assume once I PIF I'll be getting an offer for the Optima card which will be amazing because I really miss Amex

Does anyone know if there is somewhere to call to ask about getting the card in case they don't offer one to me?

Re: AMEX Optima Oasis

Anonymous — Tue, 13 Feb 2018 19:07:33 GMT

I would call MMI and ask about the Optima program. When I began the process to reconcile my account with American Express I called Global Collections (who was responsible for my AMEX account) and literally said, "When I called in before to determine the amount of my balance to AMEX I was told if I paid in full I would be eligible for the Optima program from American Express." The representative cut me off and said, "Yes, if you pay in full I do show you're eligible for the Optima Card." He then went on to explain the program to me.

Re: AMEX Optima Oasis

Anonymous — Tue, 13 Feb 2018 19:14:33 GMT

Excuse the ignorance, but can someone explain to me what the Optima Oasis card is all about? As OP said there is very limited info on it online, however I have gathered that it is most likely a rebuild card for when you have baddies with AMEX and can't start off with their other cards? Is that true?

I kind of want one after seeing this awesome card design

Re: AMEX Optima Oasis

Anonymous — Tue, 13 Feb 2018 19:31:37 GMT

You're right about it being a rebuilder card with AMEX. Basically, AMEX identifies certain accounts that are eligible for the program and once their accounts are paid in full an application is mailed for the Optima card. The Optima card has guaranteed approval as long as certain requirements are met (cannot have declared bankruptcy, must have income, must not have a current AMEX card/ account, cannot have more than 1 Optima card).

If you're interested, you would need to contact whoever holds your debt with AMEX and see if you are eligible.

Re: AMEX Optima Oasis

Anonymous — Tue, 13 Feb 2018 19:43:55 GMT

Ahh dang, I already have some AMEX cards. I literally was inquiring because I think the card looks cool and reminds me of old school CCs

Thanks though for the info thats really cool and nice that AMEX offers such a program instead of just jumping to a grudge right away since I heard their black lists can be jaw-dropping.

Re: AMEX Optima Oasis

Anonymous — Tue, 13 Feb 2018 22:49:30 GMT

Congrats for your card and thanks opening this thread!

My mom have one right now, She got the form in January 2017 with a CL of $2300. (wasn't able to pay Plat and Gold charge card during 2 months) and paid in full right after (CR indicate 30 late only).

She want to apply for a Platinum again so bad, and was just wondering, where do you see pre approval? When she is logged in, if she click on any card, she just have to add her income and that's it. Not sure how it works.

Amex said that after one year of good use of the card she should be eligible for other cards.

Re: AMEX Optima Oasis

whocares — Fri, 30 Mar 2018 05:33:55 GMT

Once you paid AMEX Global Collections, did it show up as a paid collection on your credit report?

Re: AMEX Optima Oasis

Anonymous — Fri, 30 Mar 2018 17:43:06 GMT

Yes, it did show as paid. It took a few weeks, but it did say "Paid" and showed a $0 balance.

Re: AMEX Optima Oasis

2IMPROVE — Fri, 06 Apr 2018 22:15:44 GMT

I just received the same offer! Was told part of the criteria is to not have an open Amex card. I have a Amex Corporate card through my job that is not on my credit report. Do you the corporate card will count as an open card and hurt my chances?

Re: AMEX Optima Oasis

Anonymous — Sat, 21 Jul 2018 03:25:40 GMT

I feel like this question has come up before and *IF* I remember correctly, a corporate AMEX card that is not on your personal credit history/ credit report has no bearing on your eligibility for the Optima card. So, you should be good to go with applying for and getting your Optima card!

Re: AMEX Optima Oasis

2IMPROVE1 — Sat, 21 Jul 2018 18:15:45 GMT

Correct!

Re: AMEX Optima Oasis

Anonymous — Wed, 25 Jul 2018 15:01:13 GMT

hmmmm can people who never had amex apply for this?

Re: AMEX Optima Oasis

Anonymous — Thu, 26 Jul 2018 04:58:35 GMT

Unfortunately, no. This is an invitation only offer from American Express which is designed to entice previous card members to pay their debt and regain membership with American Express.

Re: AMEX Optima Oasis

Anonymous — Mon, 06 Aug 2018 00:22:49 GMT

What does your new tradeline look like? Is it backdated, or does it show up as a new account (opened 2018)? I’m midway through this program - old card shows paid, but new card hasn’t been delivered yet.

My credit score tanked 55 points when they updated the old trade line to “paid charge off”. (710 - 655) 😬. So, I’m really hoping that the new tradeline will give me a 10 year account history to make up for this. Otherwise, paying them off has done more damage than good.

Re: AMEX Optima Oasis

Anonymous — Tue, 07 Aug 2018 04:45:04 GMT

For me they did not backdate. Other people did have their accounts/ tradelines backdated. I believe American Express's policy changed at some point and they stopped backdating.

Re: AMEX Optima Oasis

FinStar — Tue, 07 Aug 2018 19:15:56 GMT

Correct. AMEX stopped backdating on CRs as of March 21, 2015.