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Amex Optima route or not?

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Established Member

Amex Optima route or not?

I have a delinquent AMEX acct that has abt $7600 still on it from 2014. Amex just sent me an email abt the Optima card if I paid in full my remaining balance. Should I do it or just wait for the 7yrs to roll arnd and drop it off at this point? I still have abt 2 yrs left before it rolls off my acct.

Thoughts?
Message 1 of 11
10 REPLIES 10
Senior Contributor

Re: Amex Optima route or not?

This is the one way AMEX lets delinquent people back in - I would take it if you ever think you want another account with them.

Nov 2019


Garden goal: keep on keepin' on
Usually a faithful practitioner of AZE5or6or7; working on AZE1or2 and grumbling about it.
Message 2 of 11
Senior Contributor

Re: Amex Optima route or not?

Two choices. Not everyone gets an invitation to the Optima program. If you PIF. Your still in like a second chance. If no payment and falls off with no courts invovled to collect. Ten plus yrs to get back in and then some maybe. Choice is yours. Welcome to the forums!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 11
Established Member

Re: Amex Optima route or not?

Thanks for the feedback guys! I’m looking to purchase a home with my wife in the next 2-3 yrs and sell the current one that we are in. I can either pay this Amex off in 3 or 6 payments or use that cash to add to the house fund. If I’m not pressed to get another Amex card, I should just let this fall off then, right? There is really no other benefit to paying if off now, correct?
Message 4 of 11
Senior Contributor

Re: Amex Optima route or not?

Unless it’s updating regularly, which will continue to suppress your scores, no there would be no real downside to letting it fall off. Remember though that if you’re still within the SOL of your state, they could sue you for that balance.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 5 of 11
Established Member

Re: Amex Optima route or not?

Yeah. They are already out of the SOL. They were sure to add that comment in the email that they sent me.

I do get tired of it coming up every month on my credit report tho. But it doesn’t really hurt my scores. I haven’t cap 1 card that I use and that’s helping my score. I’m currently at a 684 EXP score. I can’t seem to break that 700 tho. Smh
Message 6 of 11
Senior Contributor

Re: Amex Optima route or not?

Once it falls off. Then you may join the 700 club. The util is counted against you open or closed. So there might be the reason its holding you back.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 7 of 11
Established Member

Re: Amex Optima route or not?

Ahhhh. I see. Didn’t know that. Guess I’ll just wait till it drops off then. I don’t have the 7k to pay that off without taking that from the new house fund.

Thanks for the insight tho! Much appreciated!
Message 8 of 11
Established Member

Re: Amex Optima route or not?

I got a settlement letter from Amex this wk. If I'm not concerned about getting another card with them, and I take the offer...would that give me some kind of jump in my credit score?

Message 9 of 11
Senior Contributor

Re: Amex Optima route or not?

You may not jump, but if it's been reporting regularly, then over time you'll recover points since after the update to 0 balance owed, it will no longer update and begin to age, which stops it from suppressing your score and allows your score to recover over time.



Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 10 of 11
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