american express secured card

Discussion in 'Credit Talk' started by LKH, Feb 23, 2001.

  1. LKH

    LKH Well-Known Member


    Hey everyone just received word today that amex is discontinuing the secured optima card for good. No reason was given. But I have it on good word that amex does not want to be known for easy to get credit cards. Instead they are starting a card called American Express 1 card. The card will have lower credit and income requirments. There will be a 99.00 processing fee and 5.00 monthly fee. The annual fee is at 55.00. The credit lines will begin at 200.00 just enough to pay for the fee's. Sounds just like a capital one card???
  2. sam

    sam Well-Known Member

    RE: umm.

    Whats the point of a subprime amex charge?

    It dilutes their image and quality.

    My little bro (20) got a amex gold after 9 months of credit (2 retail and 1 citi).

    If they are so easy to get, then the image status with them dilutes.

    They will become another capitalone.

    which is good, i spose. but image is alot with amex.
  3. Killer

    Killer Guest

    RE: american express secured c

    If this is true, I am very disappointed. This new card will be easily identiable as sub-prime. I don't want and need that. I need a prestigous card. I take clients to dinner and need to flash! However, I am in the middle of credit repair. I was depending AMEX to bring back the secured Optima. Oh well, I will continue to work on my credit and maybe get a CitiBank. This is very disappointing news.
  4. mother2

    mother2 Well-Known Member

    Well, where can I get one?

    Why is everyone so gloomy about this. Once you've met the "requirements", wouldn't they upgrade you to a regular AMEX? Or am I wrong about this.

    I've been trying to get an AMEX card for YEARS! Even when my credit was good, I was denied. So if I have to go through their secured program, then that's what I'll have to do.
  5. Elizabeth

    Elizabeth Guest

    What if you have the old Optim

    I wonder what they will do with the customers who have the old Optima secured? Allow us to keep it or make us switch to this new version?
  6. niecy25

    niecy25 Well-Known Member

    RE: american express secured c

    I talked to a vice president's asst yesterday and she said that the card has been pushed back and will not roll out until June. "Secured Optima" This is coming from the office that is supposedly working on getting this card rolled out
  7. sam

    sam Well-Known Member

    RE: why so gloomy?

    Because the qualifications for a non-secured amex card are the same, even if you've had the secured product for several years :)

    you get:
    1. Annual fee
    2. No guarantees of increases with more $$
    3. No credit bureaus reporting.
    4. Nada towards getting the green card.
  8. JR

    JR Guest

    RE: american express secured c

    They gave me a American express card no limit my score was only 825.

  9. Shantel

    Shantel Well-Known Member

    RE: american express secured c

    JR...r u kidding? Guys, is JR kidding? Only 825? Umph, I know a few folks who would like to "only" have an 825. Anyone else know of someone who'd like the LOWLY score of 825? This is a joke right?
  10. Cadillac408

    Cadillac408 Well-Known Member

    It's Bobby!

    Check out the IP address....

    I wish this fool would quit playing games!
  11. dogman

    dogman Well-Known Member

    RE: It's Bobby!

    good work - yup - and the grammar is so distinctive as well!
  12. Doris K.

    Doris K. Well-Known Member

    RE: Well, where can I get one?

    I wouldn't trust this to be the case. American Express promised to upgrade well-maintained secured Optima accounts after a certain length of time, and they went back on their word with all their customers. When other companies pull such a nonsense stunt, don't we refer to it as a scam?

    American Express scammed its secured Optima customers. The whole thing turned out to be one big rip-off. The only thing that distinguishes it from most is that their customer service representatives are nice. The bottom line is that thievery is a hard habit to break. If American Express ripped off thousands of its customers once, they'll damned sure do it again. Be wary of this one!
  13. miles

    miles Well-Known Member

    RE: It's Bimpy!

    Playing the same old silly games.
  14. Doris K.

    Doris K. Well-Known Member

    RE: It's Bimpy!

    Bobby, sweetie, you're still not to big for that trip to the woodshed we talked about last year! That's what needs to happen to naughty young men who constantly live in 420 land! ;-)
  15. LKH

    LKH Well-Known Member

    RE: It's Bimpy!

    He claims to be 6'3" and weigh 280 lbs. However, I'm sure that you could handle him Doris. Why would such a big, tough guy stoop to such a little,little level?
  16. LKH

    LKH Well-Known Member

    RE: It's Bobby!

    If he would give us an address, I would gladly send him hooked on phonics. Or, in his case, huked on fonix.
  17. Doris K.

    Doris K. Well-Known Member

    RE: It's Bimpy!

    My three sons range in height from 6'4" to 6'6". They towered over me from the time they were adolescents. Still, I doled out plenty of good, old-fashioned asswhoopins when they were needed! I figured that if I couldn't bring them down with a Hot Wheel track or a switch, I could always sneak up behind them and take them out with a frying pan! Fortunately, the occasions were rare, and they all grew up to be big ol' sweeties. If only I had thought to bounce an iron skillet off the heads of my three daughters several times a day, life would probably be so much simpler today! ;-)

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