AMEX called...

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AMEXAT19
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AMEX called...

Postby AMEXAT19 » Wed Apr 15, 2015 6:43 am

On yesterday I received a call from an AMEX rep in the collections department about my card that was involved in BK. the representative made me an offer: if I pay the account balance then they would send me an app for the Optima card with a $700 limit. Thank God I didn't settle with FSA, but anyways my question is her wording was contradicting as she said the app would be approve as long as I didn't have a BK, I asked her to confirm with her manger if I pay it will be approved she said it would be noted on the account because that's the offer that's tagged to the account. What are your alls opinion on the approval?


Battery111
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Postby Battery111 » Wed Apr 15, 2015 7:41 am

This is somewhat well documented as a way for Amex to get their money, and for you to get back in their good(ish) graces. Everything I've read suggest the card won't grow with you, or really provide anything in the way of benefits. But it is a credit card, and depending on how long ago you filed the BK and what your credit situation is now, that's fairly valuable in and of itself. Personally if it were me and I had the ability to repay them, I would do it.

Another thing I've read about this is that it will be an old fashioned paper application that you will need to mail in. It will take some time, so don't start making plans for that shiny new optima card just yet.
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MemberSince99
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Postby MemberSince99 » Wed Apr 15, 2015 8:54 am

Many years ago, and it's not a coincidence that the charge off was about to be past the statute of limitations, I got a letter from Amex telling me they would allow me to pay a certain percentage of the charge off, and that if I did, it would "improve your standing with us" or something to that effect.


I thought well I'm already a slimeball who screwed you and got the debt charged off so how could that really help. I didn't take it seriously that it would help my standing with them. I mean let's face it when you burn them you burn them.


But then they did not offer me an Optima either. I would say take it, if you want to do business with them again. You might get back in without doing it, but even if you do, there is no telling when you'll be off the blacklist, and if you do you may go through what I did and be "on probation" in effect for a year with no CLIs and watched extra close for a while. If you can build back that bridge, and it's only 700 dollars that you can comfortably afford, I'd say go for it.

JamesMS
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Postby JamesMS » Wed Apr 15, 2015 9:09 am

I completely agree with Battery111 on this. If you have the ability to do, then go ahead and do it. Get back in their good graces, and in time, you will have the ability to get another one of their cards, one with benefits.
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SteveT
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Postby SteveT » Mon Apr 20, 2015 8:18 pm

AMEXAT19 wrote:On yesterday I received a call from an AMEX rep in the collections department about my card that was involved in BK. the representative made me an offer: if I pay the account balance then they would send me an app for the Optima card with a $700 limit. Thank God I didn't settle with FSA, but anyways my question is her wording was contradicting as she said the app would be approve as long as I didn't have a BK, I asked her to confirm with her manger if I pay it will be approved she said it would be noted on the account because that's the offer that's tagged to the account. What are your alls opinion on the approval?


I would take the offer, but you need to confirm that they realize you have a BK, which Im not sure they realize that you have a BK as its illegal to try and collect on a BK'd account.

amex007
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Re: AMEX called...

Postby amex007 » Thu Apr 23, 2015 10:23 am

Yes OP, you should confirm whether they know you have a BK or not.
But if they know or it has fallen off after 10 yrs, I would definitely take the Optima offer. They discontinued it in 2009 and it has limited benefits but there is no AF and you have access to the MR program. It is generally only offered to ppl who have had a bad history with amex in the past and will be carefully monitored but then they'll prob phase it out into a new current card if standing is good.
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AMEXAT19
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Re: AMEX called...

Postby AMEXAT19 » Sat Apr 25, 2015 11:06 pm

Thanks guys for the response, I will call them back just to confirm. Cause it's very odd I filed BK13 in October 2014 case was dismissed in December. So I know they know my BK hasn't been that long ago. I could only guess they are offering this due past business with them.



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