amex has secured/optima

Hi there-

FYI. The secured optima card does not report to the three credit reporting agencies. I don't know for certain, but perhaps obtaining the card will assist in building a relationship with amex that will eventually result in the issuance of a green card.

Good luck.

nebo

 

Whats the number??

 

I really don't get why so many people are enthusiastic about AmEx's green card. Psst...it is a check card with an annual fee (and some extra perks that most people could care less about). You can't revolve on it, so therefore you have to have the money to pay it off within the month. You could get yourself into a lot of trouble with that card. And yes, there is a preset spending limit. Period.
Now the Optima I can understand, and a secured Optima could open a few doors for the unsecured in the future. Anyway, if you are proud of the AmEx green, to each his own I guess. No offense intended.

MikeB

 

I agree with you regarding Amex Green. In regards to the optima secured it is a waste of time
it doesn't open any doors, the account doesn't report and you have to reapply if you want another Amex product or Optima unsecured.

 

Ah, thanks for the info. That sucks. I guess there is no point then. I have an AmEx 401K through my job. I wonder if that could help when I decide to apply for the unsecured Optima? I bet not

MikeB

 

Yes, the AMEX personal card is a check card with a fee, but it will save you tons more money and is much more secure than using a check card. It offers tons more features, security and services that most check cards do not offer, plus rewards you for your spending. The fact that you pay it off each month actually keep you out of trouble unlike an Optima card can do--people with charge cards have higher credit and practice better money management skills--AMEX has much LESS risk with its charge card base than its credit card base. That is why it is harder to get a credit card than a charge card.

 

LoFico

What number did they give you??

 

If AMEX is "THE CARD" of prestige, then why are there soooo many commercials which states "......but we don't take American Express."

I must admit, I do want one. I know if I get pre-approved for one, then I've reached my credit goals.

 

There really are ore not lots of comercials--just one theme from Visa. That is interesting because MC is accepted at over 2 million more locations than Visa, so how can they claim to be everywhere you want to? Also, I cannot use my Visa card at Costco or to pay income taxes. AMEX's prestige is not based on the fact that it is accepted everywhere, but that it offers premuim cards that are unmatched by other companies and has stricter standards to acquire credit with them.