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Is Amex Optima a Charge Card or Credit Card ?

CO_NATIVE
Valued Contributor

Re: Is Amex Optima a Charge Card or Credit Card ?


@Save-n-Invest wrote:

@CO_NATIVE wrote:

Optima is a revolving, credit card and is not a charge card.

 

Optima was introduced in 1987 as American Express's first credit card. American Express stopped offering Optima around 2008-2009 for new, credit worthy applicants only to be revived years later as a reward for consumers that repaid charged-off debt. 


That's interesting. In 2003 I was at a VZW store. I purchased a mobile phone and signed a two year contract. I gave the manager American Express Blue. The transaction was declined with instructions for the store to call Optima. The place was busy so I just used a diferent card. 

 

At home I phoned Amex to learn why the sale was declined. The rep said it was flagged as a fradulent transaction. Reason provided was that I purchased a mobile phone six weeks prior. 

 

Was Optima in any way ever related to the company's fraud department? 

 

Thanks


After introducting Optima in 1987, American Express eventually added other credit cards, such as the Delta Airlines SkyMiles cards. Even these were called Optima. Essentially, back in the day, Optima was the credit card "division" of American Express (similar to the small business cards at one time being referred to as the Open cards-as in open for business). Blue was introduced in 1999 and eventually American Express began phasing out the Optima name, but I would assume that the VZW merchant account labled Amex credit cards as Optima from back in the day and had not updated it. 

 

Therefore, Optima was not the Amex fraud team, it was just the legacy general term for Amex credit (not charge) cards.


Message 11 of 38
Rebuild2022
Super Contributor

Amex Optima Card - CLI

I received Optima card last month. I am not sure about the limitations. I think we have to wait for 12 months before we apply for another Amex Card. Do we have to close Optima card at that time before applying for new card ? If we decide to keep Optima Card can we request CLI after having the card for 12 months ? Those of you who have this card please give me your suggestions.

Gardening since 08/2020
Message 12 of 38
joltdude
Community Leader
Senior Contributor

Re: Amex Optima Card - CLI

Going by memory.. You need to have Optima for at least 12 months.... before you can apply for anything else... You do not necessarily need to close it... In the past.. there was a time where you needed to close it before apping for the other.. You just got the card.. whats the rush... 

Credit is a marathon, not a sprint......

 

-J

 

Message 13 of 38
wasCB14
Super Contributor

Re: Amex Optima Card - CLI

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-Optima-sucks/m-p/6041334#M1725535

 

No CLIs on the rebuilder Optima (not to be confused with the old non-rebuilder card Optima Platinum).

 

That's according to a former Amex employee two months ago.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 14 of 38
Rebuild2022
Super Contributor

Re: Amex Optima Card - CLI


@wasCB14 wrote:

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-Optima-sucks/m-p/6041334#M1725535

No CLIs on the rebuilder Optima (not to be confused with the old non-rebuilder card Optima Platinum).

That's according to a former Amex employee two months ago.


Thanks. I was just curious after 12 months it might be eligbile for CLI. If not that is okay too. I have no desire to get into debt.  I know it is a rebuilder card with strings attached.

Gardening since 08/2020
Message 15 of 38
dacv01
Contributor

Re: Amex Optima Card - CLI

Per experience having it and my application- you cannot CLI during the 12 month probation period. You can keep Optima card open after, but from what I have seen CLI is unlikely or very minimal. The goal is to graduate to a big boy Amex after 12 months 



FICO: 620 Exp, 5 Inquiries, AAoC 4 years, AoOA 6 years, 11 months as of August 2020
Message 16 of 38
sjt
Senior Contributor

Re: Amex Optima Card - CLI


@Rebuild2022 wrote:

I received Optima card last month. I am not sure about the limitations. I think we have to wait for 12 months before we apply for another Amex Card. Do we have to close Optima card at that time before applying for new card ? If we decide to keep Optima Card can we request CLI after having the card for 12 months ? Those of you who have this card please give me your suggestions.


You have to wait 12 months for a CLI as well. You do not have to close your Optima account to get another Amex card. I have been able to get a few CLI on my Optima account. 

Keep in mind that the rules for the Optima account have changed and will probably continue to change. I'm still holding out for the ability to product change the account.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum, Business Cash
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 17 of 38
sjt
Senior Contributor

Re: Amex Optima Card - CLI


@wasCB14 wrote:

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-Optima-sucks/m-p/6041334#M1725535

 

No CLIs on the rebuilder Optima (not to be confused with the old non-rebuilder card Optima Platinum).

 

That's according to a former Amex employee two months ago.


That is incorrect. You can request and receive a CLI after 12 months. It is not upgradable at this time.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum, Business Cash
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 18 of 38
wasCB14
Super Contributor

Re: Amex Optima Card - CLI


@sjt wrote:

@wasCB14 wrote:

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-Optima-sucks/m-p/6041334#M1725535

 

No CLIs on the rebuilder Optima (not to be confused with the old non-rebuilder card Optima Platinum).

 

That's according to a former Amex employee two months ago.


That is incorrect. You can request and receive a CLI after 12 months. It is not upgradable at this time.


Could be. Most people move on to greener pastures once eligible.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 19 of 38
Rebuild2022
Super Contributor

Can PC Amex Optima after 12 months

I know Amex does not like any thing done for 12 months when we get Amex Optima Card. Does any one know after 12 months, if we can do Product Change from Amex Optima  to a different Amex Product. Also if we can get a CLI on the Amex Optima Card after 12 months ?

Gardening since 08/2020
Message 20 of 38
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