Hi,

It's been a long time since I've posted but I had a quick question...

I owe AMEX about $1700 and every say 6 months or so, they send me an offer to pay my debt and in return they will issue me an Optima card. I haven't received that offer in a while but I just wanted to know if there was anyone out there that went ahead and paid their AMEX debt and ended up getting an Optima card as promised? I've been on their web site and I don't even see that card offered.

Also...what are the chances of regaining card membership if you pay them? I'm sure your credit has to be stellar (aside from that debt).

Just curious...

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M P $ 4 0 | Bobbin & weavin...tryin to make a dollar outta 2 pennies!
"Just because I say I'm a Thug doesn't mean I wanna rob you! I'm a Business Man and you know I'm a Business Man because you always seem to find me at my places of business!"
-Tupac Shakur (press interview)

BUELLER??? BUELLER???

Wow...I remember back in the day this board was the place to be. Seems dead now. :-(

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M P $ 4 0 | Bobbin & weavin...tryin to make a dollar outta 2 pennies!
"Just because I say I'm a Thug doesn't mean I wanna rob you! I'm a Business Man and you know I'm a Business Man because you always seem to find me at my places of business!"
-Tupac Shakur (press interview)

Welcome back! It's always nice to see a Senior Member return from time to time. We hope to see you around more often.

And yes, Fridays can be kind of slow on the board. I guess less people are at work slacking off :-).

I don't believe AmEx isn't currently offering the Optima Card to new customers. And these types of deals when you agree to pay off old debt in return for a new card generally don't mean you will automatically get the new card anyway. I've heard of people getting both approved and rejected.

Cap One was just sued by the WV AG for something similar to this. They were essentially offering $1 of new credit to customers that moved all their old charged-off debt to a new card and started making payments. The AG is accusing them of disguising new credit card offers as a solicitation to enter into a debt repayment plan. Very sneaky.

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There isn't anything new in that however. OSI/Sherman Acquisitions and Cap1 have been doing that for years. Its more than high time they got their comeuppance over that little trick. Nasty indeed and I'm sure lots of folks have fallen for it over the years.

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I received this offer 2 years ago. Once I paid the balance they shipped me a new card. It is an AMEX but it is not. You do not get the same members benefits, such as rewards points...etc and you will have a limit imposed on the account but you do get the card.