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Amex Optima Card Application (UPDATE: APPROVED)

bicboiOD
New Contributor

Amex Optima Card Application (UPDATE: APPROVED)

Hello everyone! I am in the process of trying to salvage and repair my credit! To summarize, I once had an AMEX Blue Cash Preferred and fell behind and the card ended up getting charged off with some late fees on top of that.

 

I dodged their calls, letters for a while because I was focusing on getting into optometry school and finishing up my undergraduate classes (while working full-time and trying to pay for a car loan that I clearly could not afford)

 

I received the letter and decided to set up the payment plan to eventually pay my outstanding balance in full and regain card membership. Here's my timeline so far!

 

12/07/20

Remaining balance needed to pay: $3,536.49

Paid a payment of $700.00 that same day and recieved an email regarding my "enrollment program to regain card membership"

 

12/09/20

I was able to allocate funds to pay the rest of the remaining balance in full and was then told I would recieve the application within 35 days by mail.

 

01/11/21

Finally recieved the letter in the mail and I got two of them because I kept calling about updates since it was nearly 30 days before getting any updates about the application. The letter was dated for 01/04/21 so it was probably just because of snail mail that it came in so late..

 

01/12/21

Went and mailed it out and used USPS tracking just to make sure that it never got lost lol.

 

01/14/21

Got an email from USPS saying my package was delivered to the specified PO Box. I then tried to call Amex customer services to let them know that my paper application was mailed and to see if they could confirm.. They told me that I would have to wait till Monday to see whether or not they recieved it (despite me having a tracking number to confirm it)

 

Does anyone have any experience with the AMEX Optima Card? Specifically when it comes to the application process and timeline, etc.

 

I appreciate any insights! 🙂  

 

UPDATE 02/02/21:

After a very long and rather difficult experience with dealing with multiple departments about updates for this card (see my other post here)

 

Received a HP from AMEX on Experian, checked on the online application and saw this:

Pasted Graphic.jpg

They seemed to have backdated when they "received" the application even though every rep from New Accounts could not confirm whether or not it was even received, and one person even suggested I send in another application (which I did via overnight shipping..)

 

Called in this morning and asked if I could have the card overnight shipped, which they said they could not do since the application was already processed.. Instead it would be coming in about 3-5 days via USPS First Class mail.

 

Also the rep mentioned that, after the 12 month period with the Optima, I would have to cancel the card in order to be considered for some of their other cards. But I've read on some other forums that you can still hold the Optima and be approved still? (Unless this has now changed recently or if anyone can provide some DPs, that would be helpful!)

 

Just a DP for anyone that's still waiting on either their application to be mailed in or waiting for their card, just know that they had a technical issue with updating their systems which reflect whether or not the application has been received or not.

 

Well I can atleast finally begin "gardening" for the next year and get back into a BIG BOY AMEX!

Current Stats:

  EXTUEQ
FICO8667(↑3)654 (↑20)636 (↑56)
INQ (24mo)875
INQ (12mo)775
AAoA4y2 mo4y2 mo4y2 mo
AoYA1 mo1 mo1 mo

Personal Revolvers:

 
 
Credit Limit:$300$2000$1000$1000?*
Age:4y 3mo1 mo1 moN/A
Utilization:0%2%N/AN/A
Message 1 of 10
9 REPLIES 9
cam3150
Frequent Contributor

Re: Amex Optima Card Application

Hi!

  Back in 2008, I went through the same thing as you as far as having a charge off with AMEX that I eventually repaid in full around 5 years ago.  I was able to get approved for the Optima card right after the PIF with the same paper application process you have described.  I don't remember exact timelines but I don't believe it took longer than a few days to a week for them to review and approve everything.  I was basically guaranteed approval for the Optima as long as I complted the PIF of my charge off account.

 

This was all 4-5 years ago but I think my Optima CL was $900.  I used it frequently for the first year or two, then it just went into the sock draw because I had moved on to bigger and better cards, including a new AMEX card.

 

I actually just closed the Optima account last year because I felt like it was preventing me from growing my relationship with AMEX further. I had always heard that if you have a recovery product with them, it limts your future growth.  That seemed true in my case. In other words, I have received no CLI's, preapprovals, or any other approvals from them at all and I've had the BCE (now BCP) for maybe 3 years now with generous usage and always PIF  My limit is stuck at $2,800 and I have never gotten a CLI, despite having zero negatives at all for over 5 years, other CL's as high as $25k and $30k, and scores in the 740+ range. I just requested a CLI again last week and was denied.

 

So, that is the only kind of bummer. While they do let you back in, it's not completely at first. You're basically on the doorstep and it may take them a while to fully warm up to you and let you completely back in the dooor with no restrictions on your relationship with them.  But, I was so happy to have the opportunity and it is a program that very few other lenders even offer so I appreciate AMEX for that.   

 

Good Luck with the AMEX and with the Optima card!! 

 

 

Current FICO Scores as of 01/2021 EQ 724 TU 738 EX 721

NFCU CR $30,000 | USAA Rewards Visa Signature $21,000 | USAA Preferred Cash Rewards Visa Sig $21,000 | NFCU Platinum $18,000 | CapOne WM MC $10,000 | Wells Fargo Cash Wise $9,000 | Costco Anywhere Visa $13,500 | Citi Double Cash $8,500 | PenFed Rewards Visa Signature $17,500 | PenFed Promise $12,500 | Amazon Rewards Visa $3,500 | AMEX BCP $2,800 | Capital One QS 3,750 | Chase Sapphire Preferred $5,500 | Discover IT $1,800 | Amazon $10,000 | J Crew $11,500 | PayPal Credit $10,000 |Belk Rewards $10,000 | US Bank Platinum $10,500 | Amazon Store Card $10,000
Message 2 of 10
CreditSweeper
Established Contributor

Re: Amex Optima Card Application

No experience with this specifically, but things take time. In fact, some things take even more time in the present COVID environment. 

I wouldn't expect them to have processed your application the day it landed in their mailbox. Have patience, you'll hear from them eventually. 

Personal Credit -
AMEX: Platinum, Gold, Green, Blue Cash Preferred
PNC: Cash Rewards, Points
BOA: Cash Rewards
NFCU: Flagship Rewards, Cash Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome, IT
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards, Platinum Rewards
Alliant: Visa Signature
Goldman Sachs: Apple Card
BBVA: Clear Points
FNBO: Rewards
Store Cards: Target, Macy’s



Business Credit-
AMEX: Delta Gold, Amazon Prime, Simply Cash Plus
PNC: Visa Business
Synchrony: Lowes
Message 3 of 10
dacv01
Contributor

Re: Amex Optima Card Application

From my experience earlier last year, there is a little nail biting period of time that the application is received, and you hear nothing back. You can check Amex application status but it typically takes a few weeks. Once they manually process it in the specific department, you get the approval email. I called a few times over 3 weeks and got the " we still have to receive/ proccess it." Just have patience, it will come I promise. 



FICO: 620 Exp, 5 Inquiries, AAoC 4 years, AoOA 6 years, 11 months as of August 2020
Message 4 of 10
FinStar
Moderator

Re: Amex Optima Card Application

OP, below are a couple of recent threads (by relevance) that provide some DPs associated with the Optima card and processing timeframe:

 

https://ficoforums.myfico.com/t5/Credit-Cards/Optima-Card-2020-Info/m-p/5974476

 

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Amex-Optima-application/m-p/6137132

Message 5 of 10
sjt
Senior Contributor

Re: Amex Optima Card Application

Here is a link to the Amex application status site for future reference.
https://online.americanexpress.com/eaol/statusCheckAction.do

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (3.04.21) EX: 838 / EQ: 850 / TU: 848
Message 6 of 10
ThetoriParadox
Frequent Contributor

Re: Amex Optima Card Application

Can you DM me the ph number you were calling for updates? I keep getting transferred to every department BUT the one I need. I paid my balance on 12/15 and have not seen my APP yet.

RE-BUILD 2.0
Starting Score: 508
Current Score: 630
Goal Score: 700


Take the myFICO Fitness Challenge
Cap1 QS- Amex Optima- Cap 1 Plat- Mission Lane- Amazon Credit Builder- Boscov- Williams Sonoma- Care Credit- Grain
Message 7 of 10
sjt
Senior Contributor

Re: Amex Optima Card Application


@ThetoriParadox wrote:

Can you DM me the ph number you were calling for updates? I keep getting transferred to every department BUT the one I need. I paid my balance on 12/15 and have not seen my APP yet.


Try these numbers:
AmEx: 800-700-7619 (Reserves - handles closed and charged-off accounts)
AmEx Collections Dept:  800-921-6490 (people on blacklist can call this number)
Its their collections department, just tell them you paid them off and you have not received the Optima application. You also might ask them if they will reinstate your account in lieu of the Optima application.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (3.04.21) EX: 838 / EQ: 850 / TU: 848
Message 8 of 10
bicboiOD
New Contributor

Re: Amex Optima Card Application (UPDATE: APPROVED)


@bicboiOD wrote:

Hello everyone! I am in the process of trying to salvage and repair my credit! To summarize, I once had an AMEX Blue Cash Preferred and fell behind and the card ended up getting charged off with some late fees on top of that.

 

I dodged their calls, letters for a while because I was focusing on getting into optometry school and finishing up my undergraduate classes (while working full-time and trying to pay for a car loan that I clearly could not afford)

 

I received the letter and decided to set up the payment plan to eventually pay my outstanding balance in full and regain card membership. Here's my timeline so far!

 

12/07/20

Remaining balance needed to pay: $3,536.49

Paid a payment of $700.00 that same day and recieved an email regarding my "enrollment program to regain card membership"

 

12/09/20

I was able to allocate funds to pay the rest of the remaining balance in full and was then told I would recieve the application within 35 days by mail.

 

01/11/21

Finally recieved the letter in the mail and I got two of them because I kept calling about updates since it was nearly 30 days before getting any updates about the application. The letter was dated for 01/04/21 so it was probably just because of snail mail that it came in so late..

 

01/12/21

Went and mailed it out and used USPS tracking just to make sure that it never got lost lol.

 

01/14/21

Got an email from USPS saying my package was delivered to the specified PO Box. I then tried to call Amex customer services to let them know that my paper application was mailed and to see if they could confirm.. They told me that I would have to wait till Monday to see whether or not they recieved it (despite me having a tracking number to confirm it)

 

Does anyone have any experience with the AMEX Optima Card? Specifically when it comes to the application process and timeline, etc.

 

I appreciate any insights! 🙂  

 

UPDATE 02/02/21:

After a very long and rather difficult experience with dealing with multiple departments about updates for this card (see my other post here)

 

Received a HP from AMEX on Experian, checked on the online application and saw this:

Pasted Graphic.jpg

They seemed to have backdated when they "received" the application even though every rep from New Accounts could not confirm whether or not it was even received, and one person even suggested I send in another application (which I did via overnight shipping..)

 

Called in this morning and asked if I could have the card overnight shipped, which they said they could not do since the application was already processed.. Instead it would be coming in about 3-5 days via USPS First Class mail.

 

Also the rep mentioned that, after the 12 month period with the Optima, I would have to cancel the card in order to be considered for some of their other cards. But I've read on some other forums that you can still hold the Optima and be approved still? (Unless this has now changed recently or if anyone can provide some DPs, that would be helpful!)

 

Just a DP for anyone that's still waiting on either their application to be mailed in or waiting for their card, just know that they had a technical issue with updating their systems which reflect whether or not the application has been received or not.

 

Well I can atleast finally begin "gardening" for the next year and get back into a BIG BOY AMEX!


02/02/21:

Update finally 🥲

Current Stats:

  EXTUEQ
FICO8667(↑3)654 (↑20)636 (↑56)
INQ (24mo)875
INQ (12mo)775
AAoA4y2 mo4y2 mo4y2 mo
AoYA1 mo1 mo1 mo

Personal Revolvers:

 
 
Credit Limit:$300$2000$1000$1000?*
Age:4y 3mo1 mo1 moN/A
Utilization:0%2%N/AN/A
Message 9 of 10
gdale6
Moderator

Re: Amex Optima Card Application (UPDATE: APPROVED)

As you have now been approved this thread is closed to further comment. You are free to create an approval thread in the proper forum if so desired.

Message 10 of 10
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