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Accept Optima or wait?

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lol83083
New Member

Re: Accept Optima or wait?

I’m glad you decided to wait. I just paid off a bunch of debt including my Amex that was charged off. I still have three non-AMEX cards that I’m paying off. I was offered the Optima card—assuming I will get the application soon. My question is do you know whether AMEX will approve the Optima card without perfect credit? Also, congrats on the scores, how long ago was your score 496?
Message 11 of 36
Chocolategoldieloxx
Established Member

Re: Accept Optima or wait?

I just sent in my Optima application right away after working like crazy to PIF the two COs I had from my Blue Cash Everyday and Gold card. I even attached my income info so that they can see I make great money in my career. From what I gathered in working with my case managers to pay these cards off is that the Optima card is not offered to everyone AND is pretty much guaranteed even if you're still working on your credit and have no bankruptcies on your CRs. Right now I'm sitting on 560/580/540 scores and still working to dig myself out of this hell by making arrangements and PIF the cards I want back in with and Amex was one of them because that BCE card was all that! Quite a bit of positive activity has been going on with paying my COs so hopefully when they do their manual review, it's an easy approval. going to update if I actually get the Optima on this post and then off to gardening to get back my BCE in the future.
Transunion - 758
Experian - 742
Equifax - 650
Message 12 of 36
OmarGB9
Community Leader
Super Contributor

Re: Accept Optima or wait?

Congrats to OP for going with Optima. You'll have a regular card again in no time (so to speak). Smiley Happy

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 13 of 36
calebwshn
Valued Member

Re: Accept Optima or wait?

According to them, all Optima applications are approved by default barring an applicants bankruptcy level financial standing. I paid off both of my deliquent accounts and applied before my reports updated and was approved. 4 days later I got a HP by Amex and checked the application status site and saw I was approved on 11/8. 6 days later my card arrived.  

 

I havent updated my score but before the pay off I was at 598 - 612(vantage) across my 3 reports. The amex and discover baddies updated and my vantage scores are now up to 665 TU, 660 EX and still waiting for my EQ to update. I did the Credit Journey simulator on Chase and after my new amex posts then I expect it to increase another 40 points. 

Current Personal Cards:
Amex Gold - NPSL, Chase Freedom - 3300, Amex Optima - 1100

Current Business Cards
Amex Amazon Business Prime - 3000, Chase Ink Unlimited - 6000

FICO8:
Ex - 702, TU - 727, EQ - 705

INQ:
EX - 7, TU - 3, EQ - 1
Message 14 of 36
OmarGB9
Community Leader
Super Contributor

Re: Accept Optima or wait?

Grats on the score increase and here's to further ones!

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 15 of 36
sjt
Senior Contributor

Re: Accept Optima or wait?

My vote is you go for the Optima Card. There is no guarantee that you would get a regular Amex Card regardless if your reports are updated.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
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: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 16 of 36
Chocolategoldieloxx
Established Member

Re: Accept Optima or wait?

Just wanted to update everyone that I was approved for the Optima card as of today! I found out because I was getting notified that my credit reports were pulled by Amex yesterday. I checked the credit card status online and it says I was approved for the Optima and that my card will be arriving in 7-10 days. This is a big step for me to make amends with Amex so I'm very happy.
Transunion - 758
Experian - 742
Equifax - 650
Message 17 of 36
lol83083
New Member

Re: Accept Optima or wait?

That’s so awesome! So to be clear, you wrote that you received your Optima application via email? Did I understand you correctly? I just paid off my CO with Amex last week, on 11/20/19, and I’ve been on the lookout for the Optima application (as promised by Amex) in the USPS mail.
Message 18 of 36
Chocolategoldieloxx
Established Member

Re: Accept Optima or wait?

No, I received the offer in the mail like promised by the representative. I sent it in the same day I received it.
Transunion - 758
Experian - 742
Equifax - 650
Message 19 of 36
lol83083
New Member

Re: Accept Optima or wait?

That’s so awesome! So to be clear, you wrote that you received your Optima application via email? Did I understand you correctly? I just paid off my CO with Amex last week, on 11/20/19, and I’ve been on the lookout for the Optima application (as promised by Amex) in the USPS mail.


Message 20 of 36
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