AMEX Optima or wait?

[sjt]

---

@AKO17 wrote:

Hello all - I just recieved an Amex Optima offer in the mail following the pay off of a business Amex I held with an old job. The old account went to collection when I was laid off but never hit my credit report, and I PIF as soon as I received the collection notice. I recently applied for an Amex card and was declined due to low scores (current scores in sig). By April of next year I'm anticipating higher scores when the last baddie falls off my reports. Should I go with the Optima now or wait to app for a better card when my scores climb? Is this the only wait to get back in with Amex? Thank you.

---

I would take the offer and get your foot in the door. Its another tradeline and your building your relationship with Amex.

Note that Amex revised thier policies regarding the Optima Card for the better! After 12 months of having the Optima Card you will be eligible to apply for another card product and/or CLI on the Optima Card. You do NOT have to close your Optima Card to apply for another card product after 12 months.

[Anonymous]

I had an Optima offered to me after I paid off a charge off some years ago. I accepted the offer and they provided the card dated back to the original dated card. They don't do that anymore, I believe. It's a $900 limit and has not budged. 

3 or 4 years later, I applied for the ED and was approved. I did not have to close the Optima to get the ED and the ED had a starting limit of $12000 (It's $34000 now). I also got the AMEX Platinum a month ago. 

I've asked AMEX several times to increase the Optima CL but they won't. No budging on the APR either. I keep it because the AMEX offers on it always seem to be better than the ones I'm offered on the ED or Plat. I pay it off immediately after use so I haven't had a balance on it in years. I also keep it because the original TL date helps my AAoA.

I do believe my performance with the Optima helped me obtain the other AMEX lines. (That and the fact my credit has improved considerably since I first got the Optima). Other than the fact that it will never grow and has a sucky APR, I use it frequently for the offers then PIF.