Does anyone have AMEX Optima (Oasis Program) Rebuilder?

[Repairman]

I made a post about this a few months back, but didn't really get much response from people with actual experience. Is there anyone here who currently has AMEX's Optima rebuilder or who has had it in the past? I'm just trying to find out what I can expect from it/AMEX over the next few months, as I am approaching a full year with the card.

[Anonymous]

Hey Repairman! Question for you since you have an Optima and maybe you know. When you went to pay off your original AMEX account did you just pay it all at once or did you do it in payment? Im not 100% sure I want/need an optima I just want to be off that horrid blacklist and get back in their good graces.

I currently have a 2.2k CO with them that is due to fall off my report by November that I know I want to pay off but I just dont have $2.2k sitting around to throw at that at once. Any insight you may have would be amazing

[Lightdog555]

I charged off around $400 back in 2001 I have had my card going on 3 years now. I am able to apply for other cards and apply for a credit increase. My profile isn't strong enough for a real Amex yet and my score is 644 (walmart and Barclay fico) once I get my ulitize down I am sure it will jump up and I'll try for a real Amex. Amex has been nothing but great even while having a rebuilder card.

[brumijb]

Mine has been great for rebuilding.  I opened last year and it backdated to 2006; however, it appears this benefit may be gone now.  I paid all at once...was not given the option to pay over time although I didn't ask.  I am coming up on one year and plan to apply for another.  The service has been excellent.

[Repairman]

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@Anonymous wrote:

Hey Repairman! Question for you since you have an Optima and maybe you know. When you went to pay off your original AMEX account did you just pay it all at once or did you do it in payment? Im not 100% sure I want/need an optima I just want to be off that horrid blacklist and get back in their good graces.

I currently have a 2.2k CO with them that is due to fall off my report by November that I know I want to pay off but I just dont have $2.2k sitting around to throw at that at once. Any insight you may have would be amazing

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Hey!

I actually, paid it off in one lump sum. I had actually been making substantial  weekly payments until I could finally pay it all off. I then sent GW to the EO asking them for deletions. They declined, but were very nice and offered me the Optima. I applied and accepted.

[Repairman]

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@Lightdog555 wrote:
I charged off around $400 back in 2001 I have had my card going on 3 years now. I am able to apply for other cards and apply for a credit increase.

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Are you speaking in reference to AMEX? Have they given you a credit increase on your Optima? If so, how much, and when? And how do you know you are elgible to apply for other AMEX cards? Did you inquire with them?

[Repairman]

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@brumijb wrote:

Mine has been great for rebuilding.  I opened last year and it backdated to 2006; however, it appears this benefit may be gone now.  I paid all at once...was not given the option to pay over time although I didn't ask.  I am coming up on one year and plan to apply for another.  The service has been excellent.

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That's great to hear. When do you make a year? Please keep us posted on what happens!

[surferchris]

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@Repairman wrote:

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@Lightdog555 wrote:
I charged off around $400 back in 2001 I have had my card going on 3 years now. I am able to apply for other cards and apply for a credit increase.

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Are you speaking in reference to AMEX? Have they given you a credit increase on your Optima? If so, how much, and when? And how do you know you are elgible to apply for other AMEX cards? Did you inquire with them?

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I believe that after one year, you may apply for other AMEX products (however, they may make you cancel the current Optima card first, so there is chance that you cancel one card and then do not get approved for another).  You may try phoning them to ask if you are eligible (I have read that some people have had success this way - without cancelling the current Optima card).  AFAIK: Optima cards can not have CLI's, they cannot have AU's and you cannot have another AMEX product while you have the Optima.

And congrats on your progress.

[Repairman]

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@brumijb wrote:

I opened last year and it backdated to 2006; however, it appears this benefit may be gone now.  

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Mine was backdated to 2006 too! I'm very interested in finding out if it is actually true that AMEX won't back date anymore, and whether they backdate any product change or new card for you.

[gdale6]

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@Repairman wrote:

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@brumijb wrote:

I opened last year and it backdated to 2006; however, it appears this benefit may be gone now.  

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Mine was backdated to 2006 too! I'm very interested in finding out if it is actually true that AMEX won't back date anymore, and whether they backdate any product change or new card for you.

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It is true effective 3/22/15   http://ficoforums.myfico.com/t5/Credit-Cards/Amex-No-Longer-Backdating-to-Credit-Bureau-s/td-p/39076...