Amex settlement oasis question

[Lightdog555]

Perhaps they have changed their policies on limit increases. I was under the impression that Amex doesn't do them for oasis. I have has my account for over a year and I finally hit the 605 mark and for me that's huge as I was at 502 for a while. I suggest you apply. I have not gotten any checks.

[mleun481]

According to the press release from the Consumer Finance Protection Bureau, its says 'consumers who will be receiving payment will receive the payout by no later than March 15, 2013.' - which is today. 

I also thought the Optima application was also pre-approved, but nowhere did it say that and the letter that came with it says something about subject to their approval.  But, I guess I'll apply and see what happens. 

[Lightdog555]

You have nothing to lose. When I applied I got my card and called and I had it back dated to 2000 so it really helped my age of accounts. Good luck and enjoy your Amex!

[sjt]

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@mleun481 wrote:

According to the press release from the Consumer Finance Protection Bureau, its says 'consumers who will be receiving payment will receive the payout by no later than March 15, 2013.' - which is today. 

I also thought the Optima application was also pre-approved, but nowhere did it say that and the letter that came with it says something about subject to their approval.  But, I guess I'll apply and see what happens. 

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All Amex applications state that applications are subject to approval, including the Oasis Card. Generally you are approved for the Oasis product as long is there is no BK.

I think you should go for it.

Keep us posted.

[mleun481]

Quick update - I submitted the application for the Optima 2 weeks ago (and forgot about it) and then got an email today saying I've been Approved.  Not sure what the limit will be, but I guess its a start.  

[Creditcurious74]

I received my Optima application last month and was approved for $500.00 I asked to backdated to my original member date(2006) which they did and send me replacement cards, I checked my credit report yesterday and it actially says open date March/2006 but it don't show payment history. My concern about this card when I received it I read the entire agreenment and it DOES NOT sayI can't ask for CLI. I'm going to wait when the 61 days hit and ask for an increase.

[mleun481]

So if I get it backdated to my original member date (1993), will that have any effect on my credit score even if theres no payment history?  My ultimate goal is to get a regular Amex card again.

[Pastryprincessnails]

I had a card and paid them off in 2006 I got a settlement check back from them earlier this year but never and invite to get either card what can I do would love to have another chance with them

[sjt]

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@Pastryprincessnails wrote:
I had a card and paid them off in 2006 I got a settlement check back from them earlier this year but never and invite to get either card what can I do would love to have another chance with them

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I would contact them about an invitation. If you dont get anywhere with the, contact the CFPB.

[sjt]

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@mleun481 wrote:

So if I get it backdated to my original member date (1993), will that have any effect on my credit score even if theres no payment history?  My ultimate goal is to get a regular Amex card again.

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Depending on the age of your other accounts you could get a huge bump by adding a 20 year history which will increase your AAOA.