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AMEX Optima

Bathmate99
Member

AMEX Optima

Hello,

 

I currently have a charged off AMEX account from 5 years ago with a balance of $3,200. I didn't know much about credit cards at the time, and now I want to rebuild my reputation with AMEX. I recently got an email from them with an option to "Get your card membership back" through their Optima program. I've done some research and it seems pretty straight forward; pay the balance in full, keep the Optima card for 12 months, then reapply for my original card. I'm about to go this route but I had a few questions:

 

1. Is this a pay for delete? Meaning, will they remove the negative record from my credit report? I've read some people saying they will, but to make sure to get it in writing that they will, while other have said they won't.

 

2. Can I skip the Optima program altogether? I was reading about how one guy paid his balance in full, then checked AMEX's prequalify page and noticed he was prequalified for his original card. He instantly got accepted, so there was never a need to get the Optima card for the 12 months. How common is this? I'd much rather just pay the balance in full, then get my original card back.

 

Any other advice, experiences negative or good with the Optima? I've read just about every thread on here pertaining to it.

 

Thank you.

Message 1 of 6
5 REPLIES 5
FireMedic1
Super Contributor

Re: AMEX Optima


@Bathmate99 wrote:

Hello,

 

I currently have a charged off AMEX account from 5 years ago with a balance of $3,200. I didn't know much about credit cards at the time, and now I want to rebuild my reputation with AMEX. I recently got an email from them with an option to "Get your card membership back" through their Optima program. I've done some research and it seems pretty straight forward; pay the balance in full, keep the Optima card for 12 months, then reapply for my original card. I'm about to go this route but I had a few questions:

 

1. Is this a pay for delete? Meaning, will they remove the negative record from my credit report? I've read some people saying they will, but to make sure to get it in writing that they will, while other have said they won't.

 

2. Can I skip the Optima program altogether? I was reading about how one guy paid his balance in full, then checked AMEX's prequalify page and noticed he was prequalified for his original card. He instantly got accepted, so there was never a need to get the Optima card for the 12 months. How common is this? I'd much rather just pay the balance in full, then get my original card back.

 

Any other advice, experiences negative or good with the Optima? I've read just about every thread on here pertaining to it.

 

Thank you.


AMEX wont delete the past from your reports. Its great you got an offer. Now skipping Optima. Maybe some one else knows. But I cant recall seeing that happen.






Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 2 of 6
sjt
Senior Contributor

Re: AMEX Optima

With regards to getting a regular Amex after you pay the outstanding balance, it all depends on your credit profile. 

I would take the Optima Card offer. Another option is to call them to see if they will reactivate your old account.


 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum, Business Cash
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Rewards Visa
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) EX: 806 / EQ: 824 / TU: 812
Message 3 of 6
Credit_Sleuth
Established Member

Re: AMEX Optima

I was able to get a Delta Skymiles Gold Amex a year after a charge off that was settled less than full. Sometimes co-branded cards have lower requirements. Granted I only got approved for 1k and have not been able to get a CLI.

Message 4 of 6
josie
Regular Contributor

Re: AMEX Optima

Last year I took the Optima when it was offered. After it made a year I applied but denied several times so 4 months later closed the card because it had no rewards or points. In August 3 months later was booking a flight on Delta Gold (was previously charged off cl $5,000) so I was oh well lets see, approved for $15,000 but my phone got stuck so didn't get the card number. Needed to purchase the ticket that day called them to see if they can send me the link to get the card number was told they'll try but wasn't happening. So a friend was like try and apply for the blue and close it after a year. Well I applied for the platinum was approved for $2,000 just enough to purchase the tickets and almost to get the promo.

 

Take the Optima I think it helped me in the long run.

Started over because life happens.
I did it again even better this time. My highest score last time was 680

Starting Score: 513 Ex 520 Eq 534 Tu
Current Score: 690 Ex 690 Eq 698 Tu
Goal Score: 740


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Message 5 of 6
DaisyDoo
Established Member

Re: AMEX Optima

I took the Optima offer about 15 months ago. CL was only $600. last month, I applied for AMEX Blue and was approved for $10,000 CL.

Message 6 of 6
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