AMEX - PFD or Optima

[Safe4Me2]

Interesting thread. I don't remember if I PIF'ed or the accounts were CO'ed. I better get a hard copy of my CR before calling them. Don't want to wake a sleeping giant, plus, I'm not ready to PIF yet if I do owe them something.

[Anonymous]

Side note:  I PIF'ed AMEX about 6 weeks ago just to clear myself from blacklisting.  About 3 weeks ago I received the Optima app in the mail.  I figured hey why not take advantage of it so I filled it out and returned.  Two days ago I received a response from AMEX that they were no longer offering that product but that I could apply for one of their other cards.  Has anyone else seen anything like this?

[Anonymous]

Was this Optima app as part of the Oasis program?  Or just a regular app?

I know that the Oasis program is only for accounts that still have money due on them.  So if you paid off an Amex CO, then you're not eligible for Oasis.  Oasis is just for them to recoup money that they're owed, and offer a nice carrot to the debtor to get them to pay.

In my quick look at the Amex website, it doesn't look like the Optima card is still offered to every day consumers.  Possible that your payment hadn't worked its way through the whole system, and the Optima offer was to try to get that balance from you.  So since you didn't owe money, there was no need for the Optima.

[Underh20]

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@Anonymous wrote:

Was this Optima app as part of the Oasis program?  Or just a regular app?

I know that the Oasis program is only for accounts that still have money due on them.  So if you paid off an Amex CO, then you're not eligible for Oasis.  Oasis is just for them to recoup money that they're owed, and offer a nice carrot to the debtor to get them to pay.

In my quick look at the Amex website, it doesn't look like the Optima card is still offered to every day consumers.  Possible that your payment hadn't worked its way through the whole system, and the Optima offer was to try to get that balance from you.  So since you didn't owe money, there was no need for the Optima.

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At least in the cases I have seen, Oasis is issued after you have paid off your balance.  AmEx collections offices in Omaha and Houston will send you a letter telling you that if you agree to pay-off your old account, they will issue you a new Optima card with a predetermined balance -- sometimes half of the original charged-off card's limit.  The Optima card is issued after you have paid the old account off in full. 

[Anonymous]

Yes, exactly. The Oasis offer is an Optima card in exchange for paying them off. If you pay them off, but not in response to the Oasis offer, then you are not eligible for the Optima. The only way to get the offer of the Optima is to still owe money.

[Underh20]

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@Anonymous wrote:
Yes, exactly. The Oasis offer is an Optima card in exchange for paying them off. If you pay them off, but not in response to the Oasis offer, then you are not eligible for the Optima. The only way to get the offer of the Optima is to still owe money.

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Exactly. 

At least as of 9/3/2009 AmEx was still offering the Oasis program.  For those interested (though personally I think it's crazy), you can contact one of the two main AmEx collections offices and ask them about it.  My understanding is that if it involves their being able to close out a collection account, they'll go for it.

1.  AmEx Houston:  (877) 832-8325

2.  AmEx Omaha:  (888) 586-9767

If your account is not in one of these two offices, they will direct you to another number where you can search your account location by SSN. 

[Anonymous]

Thread necro:

Amex called me yesterday and said there was "a technical issue when I responded to the offer which resulted in an invalid decline reason."  I was asked by the CSR if I was still interested in the card and after I confirmed a few pieces of personal information she resubmitted and told me I was approved and the card would be in the mail.  So this just all turned out to be as weird as I suspected.