Help!!!!!! I'm just hearing about Amex Optima secured----I guess I've been under a rock!!!!! Anyway, I understand the basics...is this reported to your credit report? Conversion to Amex greencard/Optima unsecured......is this common.....let me know!!!! thanks....I'm new to this board and let me tell you OWOWOWOWOWOWOWOWOW---what a wealth of information!!!! Thanks
I don't have one, but here's what I've read previously. The card doesn't report to CRAs. And it can't be converted to any other Amex card, however, it will allow you to "build" a good payment history within the Amex records - so after about a year you might be able to close it and get a different card, depending on your history.
I wont go for optima if ur credit is bad , I rather have fcnb secured , I have optima since 15 months never late my fico score is 575 , all collections are paid off and they declined me I called acct manager after declined and he told me sorry we are unable to approved at this time because previous credit history.......
Are you serious? Serious? They pulled a CR on me and I think? they pulled Equifax and I was approved. But on Experian and Transunion I have a $1200 judgement! Plus all my collections and stuff on Equifax weren't paid when I applied and got approved for the card. This is interesting....I've never filed BK either. So your stuff was paid and the declined you? Wow...I feel lucky to have this card I guess. I'm still considering closing though...
RE: Are you serious? He was declined for a unsecured reg card. He has had a secured optima for 15 months.
RE: Welcome Welcome to a great board. Ask anything you want I am rebuilding from a Chap 13 in 1996. I now have improved cards again. You'll find some amusing sarcasm at times as well. EN- the thing that makes the board work is that we all openly discuss embarrassing credit problems. Those conversations normally do not take place among our regular friends or workers. Join us - you'll find out what to do, who's good, etc. CYA Dogman
Dogman Opinion Steve- you tried for the regular optima. You WILL get the AMEX secured for a $200 deposit up to $10K. They pay about 3% interest. YUP - you build credit to AMEX - then apply for a different card after a yr. Also, I have not seen people point out that AMEX Secured Optima could get you a card with 200-300% of your deposit - again I'm sure that depends on the credit report. You have to manually write them and ask your 12 month credit history be reported to all credit agencies. They do not report automatically. But, this does get one yr of AMEX added- 12 months from now to your reports. YES - they will approve a past BK, if AMEX was not included. They pull reports, but you send APP w/$ to the attached link. It bypasses AMEX normal credit stds, issues you a savings acct at Centurion Bank, then you get the card. Cashier's Check or MO? You'll have the card in 3 weeks. Good deal? You decide if you want to pay for dinner w/ friends with AMEX or Cap One? I'd do it. AMEX has treated me very well after a Chap 13. Here is the link: http://home1.americanexpress.com/apply/optima/deposit/docs/page1b0.asp?Entry=20 Dogman
