American Express Optima Card-Is it worth enough to get one?

I HAVE THIS CARD!!!

About 4 years ago, I had the American Express Gold card and went through a job setback and was unable to pay my balance. They closed out my card and I was contacted by AMEX's collection dept. I made arrangements to pay off what I owed them and they told me that once it was paid off they could offer me the Optima card as a way of keeping my relationship with them, as well as them helping to rebuild my credit after letting the previous card get delinquint.

Like I said, that was about 4 years ago...I paid off the Gold card and received the Optima card. There are NO hidden fees, NO gimmicks, just a prefect example of why I choose them in the first place. They are a GREAT credit card company and truly value their cardholders. The card I received had a pre-set limit on it, but I was able to use it in a responsible way to mend my credit report over the years and have since applied for and got approved for the AMEX Blue card.

The Optima card and the program they implement is truly amazing and have helped me-even after I went months and months without paying them back for my previous mistake.

If you have the same opportunity to get this card....TAKE IT!

THANKS AMEX!!!

After a big mistake on amex's part with my platinum card (messed up autobilling while I was abroad, don't travel abroad with just a passport and an amex plat), they issued me this card (optima). And gave me back all my points (55k in points). It's actually a decent program. If they hadn't have done this, I wouldn't have come back to amex. I was told after 2-3 months they would move me back to a higher end card.

i also went upside down on 2 amex acounts,gold and blue. After paying off the 2nd one, i received the optima offer. It took 2 calls to them to receive the applications, but did receive it. The next week i received the card in 5 days with a preset spending limit with no rewards, but thats okay. Its all good!

JUST RECEIVED THE OPTIMA CARD YESTERDAY. READ THE FINE PRINT. WORKS LIKE ANY OTHER CARD. HAPPY TO BE BACK IN THE CREDIT ZONE TO IMPROVE MY SCORES.

I'm in the same boat. Got my plat account down to a couple thousand and they said as soon as it's taken care of I'll have an optima card. I've had them send me at least 3 letters confirming this. Well see what happens when it's time to put up though. I've never had a credit card though. If I pay the balance every month in full do I still have to pay interest?

i dont understand why Amex would offer someone who had too much debt, more credit to get into MORE debt. i dont not think this "card" is from Amex-- this is a program run by a collection agency that work primarily for amex. we got the letter today at the bottom it reads: this is an attempt to collect a debt-- which by law collectors have to state.
would not recommend ppl doing... if you want to clear your debt, call Amex cust svc, not the number given on the letter.

I just got the same call from FirstSource collection agencies. I accepted I hope it is not a scam. I really want to pay back my debt and rebuild my credit after the year I have had. They told me I will be receiving a welcome packet in the mail as well as a $100.00 gas gift card....

I was in the same boat wit Amex had a clear n gold car with a lot of rewars. All my accounts with Amex went to collection in 2008 I finish payin them off n applied for the optima. I got wit a preset spending limit of 500. My credit is shot n Amex is the only CC company that gave me a card. Take advantage of it and just use it carefully. I Love amex n all of their offers. No scams no jokes guys this is real. You will just get the card wit a pre set spendin limit. Its like starting all over again. I'm sure that as long as they see you can handle this card they will offer other card they think you might qualify for. Good luck wit ur Optima....looks really nice too....if u hav any questions post somethinm

Wow, I originally posted this thread a long time ago! Probably one of my first posts after I came to this site.

Well, back then I had paid off my charged-off Amex account for the full balance owed (no settlement). They never sent me the application for the Optima card, and I never pursued it either. Which is probably better anyway, because nowadays I'm seeing lots of stores with signs posted that they no longer accept Amex "because of the high/unfair merchant fees they charge."

Also, aside, Amex is the only chargeoff I haven't been able to get off my credit report. I settled with 2 other Chase accounts, and got those removed shortly thereafter. But Amex keeps verifying it whenever I dispute. You'd think after 3+ years being paid off, they'd have better things to do. Guess I should have negotiated a little better back then and demanded a pay-for-delete.

Just received the letter in the mail, hoping to get back on the Amex family. They really were great, best CC I ever dealt with.....I will see what happens, Since they don't check your credit, how do they determine your pre-set limit of the new opti card?

I had the AMEX platnum, gold business, gold personal. I got in trouble with my business and got behind with Amex. I paid off my accounts after six months, and was offered the optima "to get back on track". My premium cards were cancelled, now I have the Optima card. 29.99% + $49 per year. I need all the credit I can get, so it will help. I've paid on time for the last 15 months, so it will be interesting to see If I can get a good card again.

I had the optima card for years and they gave it to collection when it went delinquent. The company representated itself as Amex, telling me I could repair my card problem and set up a payment plan. Amex, could care less. I wasn't notified before they did it and I was scammed by the collection agency.

I too was offered the Optima card when my account went deliquent 30 days. I was sent to a collection agency but I had already paid Amex the same day. The card IS in fact offered by Amex. If you read the fine print it says clearly, "The Optima Card is issued by American Express Centurion Bank" - Nowhere on my letter does it say it is an attempt to collect a debt. The reason they offer it is because if you are someone whose paid off your account then you are someone who will ultimately pay period. Even if you get in a bind for a short time. And they value that more than people who never pay them and they have to charge it off. There is nothing to be afraid of. It is just a credit card - Not a charge card through Amex to show you can be responsible again. Simple

I also had a previous collection situation with Amex Blue Card - after I paid the debt I was offered an Amex Optima, I wanted to rebuild my credit so I accepted the card. Im just paying my bill on time at the end of the month, like I did with the Amex Gold card, hopefully if I continue to pay on time, I will be able to regain my Amex Blue card again. Time will tell.

I was just recently offered this card, and I am going to accept it, since I really want an Amex as it is a good card and it sucks I lost my job and screwed up my first one, I know they come with limits what is the avg. credit limit they come with?

I paid off my Amex account and was told that I would recieve the Amex Optima card. That was over a month ago. I don't know why I haven't recieved it and amm beginning to think this whole thing is a scam!