topic Re: Optima Oasis limits? in Rebuilding Your Credit

Optima Oasis limits?

Anonymous — Tue, 19 Jan 2021 23:16:17 GMT

Hey guys?

I'm sorry I'm making a new thread on such a popular topic, but I can't find a straight answer.

How does Amex determine the limit on your new Optima Oasis Card? Is it based on your income? Do they look at other limits, like Discover does? Or is it a flat amount?

Thank you!

Re: Optima Oasis limits?

Anonymous — Tue, 19 Jan 2021 23:24:19 GMT

@Anonymous wrote:
Hey guys?

I'm sorry I'm making a new thread on such a popular topic, but I can't find a straight answer.
How does Amex determine the limit on your new Optima Oasis Card? Is it based on your income? Do they look at other limits, like Discover does? Or is it a flat amount?

Thank you!

I believe I have heard some say half of what you paid/owed is the CL? I could be way off tho, lol there are posts floating around describing how the CL was determined.

Re: Optima Oasis limits?

Brian_Earl_Spilner — Tue, 19 Jan 2021 23:53:01 GMT

It used to be a third of your charged off limit, but lately we've seen 40 and even 50%.

Re: Optima Oasis limits?

bicboiOD — Wed, 20 Jan 2021 03:25:55 GMT

@Anonymous wrote:
Hey guys?

I'm sorry I'm making a new thread on such a popular topic, but I can't find a straight answer.
How does Amex determine the limit on your new Optima Oasis Card? Is it based on your income? Do they look at other limits, like Discover does? Or is it a flat amount?

Thank you!

I'm still waiting for my Optima card, I mailed the application on 01/12/21 and still waiting to hear back, but the amount I had to pay that was originally CO'd was $3536.00 (original CL was $2500) they offered me the Optima with a CL of $1,000 so idk where they decided to go with that.

Re: Optima Oasis limits?

Anonymous — Wed, 20 Jan 2021 14:11:58 GMT

@bicboiOD wrote:
@Anonymous wrote:
Hey guys?

I'm sorry I'm making a new thread on such a popular topic, but I can't find a straight answer.
How does Amex determine the limit on your new Optima Oasis Card? Is it based on your income? Do they look at other limits, like Discover does? Or is it a flat amount?

Thank you!
I'm still waiting for my Optima card, I mailed the application on 01/12/21 and still waiting to hear back, but the amount I had to pay that was originally CO'd was $3536.00 (original CL was $2500) they offered me the Optima with a CL of $1,000 so idk where they decided to go with that.

Hmmm mine was a similar amount. Is it really worth getting for such a low limit?

Re: Optima Oasis limits?

angelofmusic86 — Wed, 20 Jan 2021 17:28:57 GMT

@Anonymous wrote:

@bicboiOD wrote:
@Anonymous wrote:
Hey guys?

I'm sorry I'm making a new thread on such a popular topic, but I can't find a straight answer.
How does Amex determine the limit on your new Optima Oasis Card? Is it based on your income? Do they look at other limits, like Discover does? Or is it a flat amount?

Thank you!
I'm still waiting for my Optima card, I mailed the application on 01/12/21 and still waiting to hear back, but the amount I had to pay that was originally CO'd was $3536.00 (original CL was $2500) they offered me the Optima with a CL of $1,000 so idk where they decided to go with that.
Hmmm mine was a similar I amount. Is it really worth getting for such a low limit?

I mean, it gets you back with AMEX, so if that's an end goal, it can be worth it long term.

Re: Optima Oasis limits?

bicboiOD — Wed, 20 Jan 2021 18:52:57 GMT

@angelofmusic86 wrote:
@Anonymous wrote:

@bicboiOD wrote:
@Anonymous wrote:
Hey guys?

I'm sorry I'm making a new thread on such a popular topic, but I can't find a straight answer.
How does Amex determine the limit on your new Optima Oasis Card? Is it based on your income? Do they look at other limits, like Discover does? Or is it a flat amount?

Thank you!
I'm still waiting for my Optima card, I mailed the application on 01/12/21 and still waiting to hear back, but the amount I had to pay that was originally CO'd was $3536.00 (original CL was $2500) they offered me the Optima with a CL of $1,000 so idk where they decided to go with that.
Hmmm mine was a similar I amount. Is it really worth getting for such a low limit?
I mean, it gets you back with AMEX, so if that's an end goal, it can be worth it long term.

^ pretty much that exact reason for me, I'm pretty much going to making my Discover It my main card to get the maxmium return on the 1st year CB match, but definitely want to back in a big boy AMEX so I'll try to use it very conservatively and always PIF

Re: Optima Oasis limits?

dacv01 — Wed, 20 Jan 2021 23:52:23 GMT

It is typically 50% of the original CL of the card that was charged off- ex 10K CL - 5K CL on Optima.

Re: Optima Oasis limits?

dacv01 — Wed, 20 Jan 2021 23:54:53 GMT

Depends who you ask.... those that value a relationship with Amex usually will jump at the offer to get back in. Granted, the card is no thrills or frills, but 12 months will fly by. Read some posts by others that have been in Amex Jail for years- all depends on long term goals and wants in cards IMO

Re: Optima Oasis limits?

Red1Blue — Thu, 21 Jan 2021 19:15:31 GMT

I beleive I paid $3400 and they gave me $900 credit limit. I did care and took the card with $900 limit. After 12 months I would be able to apply for their regular card. It gave me a chance to pay off the charge off amount and also get back in with Amex.

Re: Optima Oasis limits?

Anonymous — Sun, 23 Jan 2022 02:54:49 GMT

My original Amex blue cash was for $2000 the I didn't pay and eventually got into the oasis program and my limit was $600. I heard it's 1/4 of your limit but thats not my case so I don't know really ....