AMEX Optima second chance

Anonymous · ‎02-16-2020

So ,

long story short I was given a chance to pay in full I debt I had with Amex and they offered a new card after I paid off and said that I would be approved under certain conditions , one of them being that they will decide if I am able to make payments on the new card based on my credit profile , OBSVIOULY. I don't have a goos profile now because I'm paying back my debt , I have paid about $15k in debt and that sums up 4 cards , I still have to pay more cards but my scores are bad, should I even submit the MINI application they sent me in the mail ?
has anyone been offered this card and got it with low scores ?

Brian_Earl_Spilner · ‎02-16-2020

The card will be issued as long as you pay back what you agreed to. The limit will be about 33% of one of your outstanding cards. Your ability to pay will be based on your income, DTI, and the limit they issue. With multiple cards, I'm not sure how they would go about picking which to base a limit on. You would have to ask them.

Anonymous · ‎02-16-2020

I've had an Amex gold , no limit , I didn't owe them anything of that card but once my credit started to get bad they closed that card. The other card was the blue cash I have $5000 on it , the optima card is for $600 so I'm not sure , just afraid they'll say my credit score is too low for that card .

Anonymous · ‎02-16-2020

From what I understand from another recent Optima post, if they offer it as part of the deal, you'll get it. Later on, after a year, you could be eligible for new Amex cards if your profile supports approval at that time. With the Optima, I'd put Netflix or XM on it, pay it in full when the statement cuts, and be very mindful of it and your other accounts to ensure you stay in good standing with Amex.

Anonymous · ‎02-16-2020

I have 30 days to send the app in.

what I will do is wait until like 7 days before and submit because I have 2 other collections I paid need to hit my profiles just in case .

Red1Blue · ‎02-16-2020

@Anonymous wrote:
I've had an Amex gold , no limit , I didn't owe them anything of that card but once my credit started to get bad they closed that card. The other card was the blue cash I have $5000 on it , the optima card is for $600 so I'm not sure , just afraid they'll say my credit score is too low for that card .

I am not sure if I understand what you are saying. If you still have Amex Blue Cash then you'll not be eligbile for Optima Card. Also Optima card is issued when you owed the money to Amex and pay it full then they will give you Optima card. From what you are saying you did not owe any money on your Gold Card. I am not sure what is the status of your Blue Cash. I think you need to find more details before you think about Optima card.

Anonymous · ‎02-16-2020

Sorry, I didn't express myself correctly . Gold card was closed by Amex I owed nothing , I owed $2000 on blue cash that CO 2 years ago. They sent me the offer I paid the blue cash in full and application for optima came in today.

Red1Blue · ‎02-16-2020

@Anonymous wrote:
Sorry, I didn't express myself correctly . Gold card was closed by Amex I owed nothing , I owed $2000 on blue cash that CO 2 years ago. They sent me the offer I paid the blue cash in full and application for optima came in today.

Congrats. Good Luck with your new Optima Card.