Good news for anyone wondering about the Amex Optima Card. IT STILL EXIST. I called to pay a CO in full from 2006 for $2850 and the told me (once my funds were verified) I was pre-approved for the Optima card with a $800 limit as long as I don't have a BK, or currently hold a Amex, I will be approved. The said I should have the app in 20 days (I assuming this is to let the $0 balance report).
The Optima card is NOT ELIGIBLE FOR BACKDATING, and any cards you app for from Amex will be an instant denial (wont even pull). Im not complaining, I burned Amex in college and now that I have paid my debt the are letting me back in the door to primeville. I plan on keeping everyone posted as to if the actually keep there end of the deal. None of this would have been possible without the help of the MyFICO community. Edit: the did backdate my account to 2005. FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. And its affiliated companies.
Many factors affect your FICO Scores and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide 'credit repair' services or advice or assistance regarding 'rebuilding' or 'improving' your credit record, credit history or credit rating.
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc.
And its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide 'credit repair' services or advice or assistance regarding 'rebuilding' or 'improving' your credit record, credit history or credit rating.
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I see ads for the new SkyMiles Blue card all over the web (especially here), and it looks to me like an 'entry level' credit product. Boy would I love to be a cardmember again! I was a long time holder of a SPG Amex, and a Platinum business card. 2008-09 crushed me, and along with everything else, I lost my AMEX cards (which were discharged). Since this was more than 7 years ago, they no longer appear on my credit report (although a whole bunch of other garbage is on there, bringing down my score). I'm curious now: what is the easiest AMEX to qualify for?
Obviously I'm not getting a platinum card any time soon, but they offer so many products, some of them are bound to have different qualification thresholds. They have fallen off your credit reports, but they will never fall off Amex's internal records.
Amex may forgive, but they do not forget. I'm not sure what the odds are of Amex giving you another chance. Time helps, and the odds are better if you defaulted on 3 or 4 figures of debt. 5 or 6 figures and the odds fall. Some people default on a really spectacular scale and don't get credit from Amex ever again. You really have nothing to lose by applying; if you are blacklisted, Amex will deny your app without even pulling your credit.
The easiest cards, anecdotally, seem to be charge cards.then Delta Gold or Blue. I see ads for the new SkyMiles Blue card all over the web (especially here), and it looks to me like an 'entry level' credit product.
Boy would I love to be a cardmember again! I was a long time holder of a SPG Amex, and a Platinum business card. 2008-09 crushed me, and along with everything else, I lost my AMEX cards (which were discharged). Since this was more than 7 years ago, they no longer appear on my credit report (although a whole bunch of other garbage is on there, bringing down my score). I'm curious now: what is the easiest AMEX to qualify for? Obviously I'm not getting a platinum card any time soon, but they offer so many products, some of them are bound to have different qualification thresholds. Any ideas?My best guess is a no annual fee card (such as Everyday) on which they can give you a very low credit limit if they wish, and still leave the card somewhat usable.
Everyday gives bonus points on groceries, so it's usable to small grocery purchases at least even if you have a tiny credit limit. But it's not a simple question because of your history with Amex. I always thought charge cards were easier to get approved for. AMEX doesn't set a hard limit for credit and could deny any charge they wish. Additionally, they are collecting an AF. Is the general consensus that charge cards are harder to get?I posted about my experience here not long ago, with the Amex Green card being one of my very first cards, way back 31 years ago fresh out of college and just after starting my real job.
Though, back then, there were no AX credit cards, right? I think the Optima came out a year or two after I got the green card (which was in 1986).
I always thought charge cards were easier to get approved for. AMEX doesn't set a hard limit for credit and could deny any charge they wish. Additionally, they are collecting an AF. Is the general consensus that charge cards are harder to get?Pretty sure this is definitely true. When I first applied when my credit wasn’t necessarily great but I was approved for a Amex gold and a blue cash card. On the blue cash card my credit limit was only $500 while on the charge card I was able to charge around $2500 in the first month before Amex called and suggested that I send in a payment. The months thereafter my spend had been at roughly $11,000 per month without any problems but my credit limit remained at $500 on my blue cash card.
In my understanding American Express will not allow you to open another account, or even to hold a supplementary card on someone else's account, unless you repay the amount they wrote off. There hasn't been any recent discussion, policies do change, and exceptions may happen, but that has been their practice.The myFICO forums would probably have a lot more information that would be relevant to OP's situation.
From what I remember, though, AmEx (used to?) have a special card for those who had bad debt with them as sort of a 'second chance' thing; after having that card for a while with good history you'd be allowed to apply for regular AmEx cards. In my understanding American Express will not allow you to open another account, or even to hold a supplementary card on someone else's account, unless you repay the amount they wrote off. There hasn't been any recent discussion, policies do change, and exceptions may happen, but that has been their practice.There seem to be a few different methods of them seeking repayment, but it does seem common. I've heard they tell some former customers that if the customer pays some portion of the former balance, Amex will guarantee approval for a low-CL Optima Oasis. I've also heard them approve applicants for normal cards and then, within a few days, 'invite' the applicant to pay off the former balance. From what I've heard, there is some implication that the new account will be closed if the old balance is not repaid. I'm not sure if the people who report getting these 'invitations' are exaggerating Amex's aggression or not.
Amex Oasis Program Credit Card
You also need to understand what this means: In my understanding American Express will not allow you to open another account, or even to hold a supplementary card on someone else's account, unless you repay the amount they wrote off. There hasn't been any recent discussion, policies do change, and exceptions may happen, but that has been their practice.Last year and this year, I saw some people qualify for Amex Platinum cards after they had defaulted and left unsettled debts on an Amex card at some point in the late 1990s.
So it does still happen. The special card is/was called Optima Oasis. I'm not sure if it still exists, or exactly how to get Amex to offer it. There seem to be a few different methods of them seeking repayment, but it does seem common. I've heard they tell some former customers that if the customer pays some portion of the former balance, Amex will guarantee approval for a low-CL Optima Oasis. I've also heard them approve applicants for normal cards and then, within a few days, 'invite' the applicant to pay off the former balance.
From what I've heard, there is some implication that the new account will be closed if the old balance is not repaid. I'm not sure if the people who report getting these 'invitations' are exaggerating Amex's aggression or not.It.is. the Optima Oasis, and in general if you pay debt in full, you get a card with roughly 1/3 of what you paid as CL.
If you can manage that for 12 months, they then take you out of black list. In theory, assuming you handled the card well, have good numbers, etc, you'll be eligible for any of their other cards like 'normal' applicant. Applying for a card (even business) within the 12 months is an auto-reject from AMEX. Not sure about being an AU for someone else though.
Hello everyone, a friend of mine was telling me about a program that American Express called 'Amex Oasis' it is for those that have defaulted on a Amex card in the past. They said that what Amex does is ask you to pay off the past due balance in 90 days but here is the kicker they give you an Optima card with a limit that equals half of the defaulted balance. It is actually what they call a 'recovery' product I was told. When the balance is paid in full they start the counter from when you first opened your account (for example if you opened an account in 1988). Has anyone here ever heard of this program?. See the online bank credit card application for details about terms and conditions of offers. When you click on the 'Apply Now' or 'Learn More' button, Finance Globe is connecting you to the offer or 3rd party website.
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