I guess my next credit goal is the unsecure the secured optima from AMEX that I currently have. I received this card in 5/00. So my card is read for it's 6 month birthday. I was hoping AMEX would unsecure the card after 12 months. I only deposited $200 in the account. What is your opinion on methods to unsecure the card. Add more $$$. Wait and ask after 12mos, 18mos, 24mos? I dont know. Since I have a Citi gold card, I dont really use the optima that much cause I only have $200 on it. Listening to you guys is the only reason that I am hyped about AMEX. I always heard to stay away from them cause when the chips are down, they will slap you silly. But I have it now and wanted a little advise. And How do I get them to report to the credit bureaus. Does having AMEX on your credit report help that much. Dogman? Can anyone help me? Roni.
RE: Unsecuring the Optima AMEX The only thing you can do is apply for the AMEX card that you want--there is no way to "unsecure" your card or convert it into another--you must apply for the one you want. Good luck
RE: Unsecuring the Optima AMEX I guess I'm curious too. I have been torn between keeping the card and getting rid of it (since I have the gold already reporting on my bureaus). I only have $200 on mine also. I read a suggestion by Dogman in a previous post that he suggests adding $100 every month or 2 to the account. It does go up to $10k. Maybe the strategy behind that is that you really mean business and that you are serious about getting an unsecured account. I know Jason posted they don't unsecure that account, you have to apply for the card that you want. This is cool and all but I really hope that this card *really* will mean something to Am/Ex when you go to apply for another card. People say it does, but I'm skeptical.... I'm curious how manually adding this trade to your profile works out? I haven't heard of anyone actually trying it yet. I know having Am/Ex on your bureau really does do something. My boyfriend gets offers GALORE in the mail. The only credit he has is Sears (first card, zero balance), Macy's (zero balance, never used), Citibank Visa (authorized user on my acct), Am/Ex Gold (highest charged is $3k), and Associates MC ($500 limit...don't ask me why he has this dumb card...I told him it clashes w/ the gold...he doesn't know too much info on different cards....I'm teaching him though!). I can't even begin to tell you the offers he gets. It's crazy. He had an offer from Citibank today and I just tossed it in the trash....didn't even open. He is fine w/ the cards that he has. I'm trying to get him to close Associates and get another Visa or MC w/ a really good rate w/ no fees but he really shouldn't make that move for 5 months (that'll be 1 year w/ Associates).
RE: Unsecuring the Optima AMEX WEll I had the Secured Card for 3 years and I think about a year Ago I applied For amex and still got Denied . Can't remember the specific reason. But my credit with them and on the other Reports has no dergs .. So I don't think It does much when Applying for Amex . WHo Cares Though I'm pritty Happy with my New Citi. Probably If you increase Your deposit To a Considrable Amount They will Take that into Consideration, I got a Mizely 200 Bucks with them . Give it a try.. Good luck
RE: Unsecuring the Optima AMEX Thanks Mp$40 and New2 and Jason. That info is very helpful. $200 isnot enough huh? Well, since AMEX still turns me down with everyone else, I dont think they will give me a card until 2006 when my loans officially are to come off. But at this point, I dont care anymore. The AMEX hype just gets to me sometimes. But, I dont really hang around the type of people who would get impressed with AMEXcards. Especially green. I just thought well hey, if it will enhance my credit profile, I'm in. So, my only option is to manually insert AMEX into my file. I was reading the FCRA lastnight, and it says we have that right. I also am happy with my Citibank cards. I use them for everything. I pull my Chase out sometimes. But I am paying the balances off my Capital One's and Providian and letting them ride at about $50 dollar balances for a while. Hey mom0f3, I decided to close the $200 capital one account I got in August. I was closing it immediately, but somehow, I didnot beat it too my credit report. I sent in a payment last week, making it 0 balance so I can close it pronto! That's one more down for me. I say again First Premier has to wait until 3/01 to close at it's annual renewal. Roni.
RE: Unsecuring the Optima AMEX Roni- in the big picture with AMEX - you actually do always get a better attitude when you show AMEX of any variety. It signifies financial responsibility, and people respect that; The card has a good borrow rate, they pay you 3-4%, why not add to it and make it as valuable as you want? CYA - Dogman
RE: Unsecuring the Optima AMEX How much did you have on your amex secured before the cross over? If you dont mind me asking. Dogman. Dogman wrote: ------------------------------- Roni- in the big picture with AMEX - you actually do always get a better attitude when you show AMEX of any variety. It signifies financial responsibility, and people respect that; The card has a good borrow rate, they pay you 3-4%, why not add to it and make it as valuable as you want? CYA - Dogman
RE: Unsecuring the Optima AMEX roni - I never had a secured optima. I got the Green Card right off the bat. When I explained the health situation to the Acct Mgr, she immediately told me she would go for the AMEX Personal Green Card. It reports, it really does have no limit - its been great for the credit report. BUT - het you got great cards with CITIbank. CYA Dogman
