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American Express optima discontinued?

prologue
Member

American Express optima discontinued?

Gave them a call today because I paid up my balance last year and wanted to try and get a new application. Two reps told me it got discontinued? 

Message 1 of 9
8 REPLIES 8
PNWRambler
Frequent Contributor

Re: American Express optima discontinued?

It was discontinued years ago. There's rumors that it's still around by invite, but it's not publicly available and hasn't been for some time.

Message 2 of 9
SweetCreditObsession
Valued Contributor

Re: American Express optima discontinued?

This is news to me. I will crawl this and the Credit Card Applications board to try to discern what year it was phased out.

 

Thanks!



(+102) | (+106) | (+151)
| TU Fico 9: ? | Exp Fico 9: ? | EQ Fico 9: ?| EQ Fico 8 Bankcard: 807

Initial Goal: Min. 740 w/all CRAs - Met
Next Goal: Amex BCE
Current Goal(s): Min. 780 w/all CRAs
Gardening Until: ??/??/202?| Last App: 7/21/2021





Message 3 of 9
SweetCreditObsession
Valued Contributor

Re: American Express optima discontinued?

@prologue  - it looks like the card may have been discontinued last year. 

 

This person applied as recently as last April: Just sent in my Amex Optima App. Suggested usage ? 

 

You might find even more DPs by checking the Credit Card Applications board.

 

Best wishes on your rebuild. 



(+102) | (+106) | (+151)
| TU Fico 9: ? | Exp Fico 9: ? | EQ Fico 9: ?| EQ Fico 8 Bankcard: 807

Initial Goal: Min. 740 w/all CRAs - Met
Next Goal: Amex BCE
Current Goal(s): Min. 780 w/all CRAs
Gardening Until: ??/??/202?| Last App: 7/21/2021





Message 4 of 9
Jeffysdad
Valued Member

Re: American Express optima discontinued?


@prologue wrote:

Gave them a call today because I paid up my balance last year and wanted to try and get a new application. Two reps told me it got discontinued? 


I believe Optima was turned into a card for people with poor credit. I believe it's still available for that purpose.

Message 5 of 9
K-in-Boston
Credit Mentor

Re: American Express optima discontinued?

Optima is a confusing product.  The Optima cards were discontinued years ago as an actual product one could apply for.  The branding was reintroduced as a "second chance" card a few years later, and has always been invite-only (which is the case for the link pasted above).  

 

If you have paid off balances previously owed, most likely you would just need to have a profile today that supports an application for a current Amex product offering.  Most (if not all) Optima mentions I have seen for the "second chance" version of the card are for those whose previous balances were not paid.

Message 6 of 9
K-in-Boston
Credit Mentor

Re: American Express optima discontinued?


@Jeffysdad wrote:

@prologue wrote:

Gave them a call today because I paid up my balance last year and wanted to try and get a new application. Two reps told me it got discontinued? 


I believe Optima was turned into a card for people with poor credit. I believe it's still available for that purpose.


Posted while I was typing.  This is mostly correct, but I would exchange "poor credit" with "poor previous Amex relationships who have demonstrated recent improvement in their credit management."

Message 7 of 9
prologue
Member

Re: American Express optima discontinued?


@K-in-Boston wrote:

Optima is a confusing product.  The Optima cards were discontinued years ago as an actual product one could apply for.  The branding was reintroduced as a "second chance" card a few years later, and has always been invite-only (which is the case for the link pasted above).  

 

If you have paid off balances previously owed, most likely you would just need to have a profile today that supports an application for a current Amex product offering.  Most (if not all) Optima mentions I have seen for the "second chance" version of the card are for those whose previous balances were not paid.


Hopefully the optima card was not the only way back in after balances are paid off. I'll try applying next month 

Message 8 of 9
oogy
Contributor

Re: American Express optima discontinued?


@K-in-Boston wrote:

@Jeffysdad wrote:

@prologue wrote:

Gave them a call today because I paid up my balance last year and wanted to try and get a new application. Two reps told me it got discontinued? 


I believe Optima was turned into a card for people with poor credit. I believe it's still available for that purpose.


Posted while I was typing.  This is mostly correct, but I would exchange "poor credit" with "poor previous Amex relationships who have demonstrated recent improvement in their credit management."



Yeah, it's definitely still around as a "second chance" to get back in with Amex...

My wife currently has an offer we're considering for an Optima card if she pays off the balance on her charged off Amex.  (We just started looking into whether an Optima card is any good or not...)

The offer, at least as she received it, is basically agree to pay it off the debt in full - either all at once or in installments - and they will reopen her account with them issuing an Optima card. 

If the debt is paid in installments though, I just noticed you don't get the card until the final payment clears... which makes it less appealing for us, though we do still like the idea of getting the old debt paid off (off our minds, off our credit reports, and no more questioning if they're going to do anything about it before the SoL) as well as the idea of getting back in Amex's good graces.  But money to pay that down would make things REALLY tight for us for us until it was done, and I can't help but wonder if there's a "better" use for the money at the moment and something else maybe we can boost our credit more in the meantime before we come back to the idea of getting in Amex's good graces again...

Anyway...  As far as it being for people with a "poor previous Amex relationships who have demonstrated recent improvement in their credit management":   She obviously does have that poor previous relationship with Amex.  But I would also say she's still got poor credit in general.  Perhaps her report shows "improvement" in her credit management simply in the fact some of the older things are starting to fall off, but she also doesn't have ANY open accounts to show positive use and still does have old collections and chargeoffs on there.  They've all aged a fair amount, so perhaps Amex doesn't mind them as much, but it's certainly not a good credit report (life's been weird for us for the past several years...).   

 

Obviously, I realize this is anecdotal and not necessarally representative of the entire collective, just figured it was worth sharing that in her particular case it is both poor credit and past relationship with Amex.


Starting over from scratch again February 28, 2023.
I have not used a single credit account since circumstances decimated my credit in '19&'20 and now have no open accounts on my report.
Message 9 of 9
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