Amex Optima/oasis Program
Amex is pretty easy to work with and they will not cancel an account over one late payment. You might be able to do so with their Optima Oasis program. American Express Optima Card-Is. An American Express Blue card from. Will probably tie it to their oasis repayment program so that when the past debts.
I am in California. The outstanding debt was for $3700 and some change. I attempted to call and ask for a settlement but they would only offer $2900, no bargaining.
Just getting her to review and sign GW letters is a chore. Getting her to call customer service to get the CCs reissued (so we can slide in a little util from time to time)?
Old construction company each month. This card as you may know, had no spending limit as well, provided it was paid in full each month. It also had a convenient deferred payment option, incase money was tight that month, which was very nice. Now due to financial restraints in my business this year, I will say for most of this year I used the deferred option almost every month. On average I would spend around 50K each month, leaving a “pay in full” balance respectively between 60k-100k. Last month, out of the blue, Amex decided to set a 50k limit on the card, and since the card at that time had approx. 85k as a balance, the card spending was automatically suspended until/if a payment was made to bring the balance under 50k.
NAtionwide Credit harrassmed me first calling me after I told them not to. A company called First Source Advantage, acting on AMEX behalf called me 10/29/13 after I told me not to call me at work.
Any settlement will entail credit damage, but it will show as settled assuming the creditor reports it correctly. Basically, you start by calling the law firm, explaining your situation, and making an offer. Beyond that, I really can’t provide detailed negotiation instructions via the blog.
I am making arrangement to settle with the IRS and would love to clear up the judgement against me with AMEX. What would you think are my odds of offering a lump sum settlement and have the judgements released? I owe approximately 40,000. ( January 18, 2013 ) Rick, it is possible to settle judgments after the fact, but unfortunately, you have very little leverage once they obtain a court judgment and have a clear path to recovery via levy, lien, or garnishment. So judgment settlements in general tend to be on the high side. If you cannot reach agreement on a lump-sum settlement figure that is workable for you, it may still be possible to negotiate a stipulated payment arrangement over several years, and that would at least help you avoid surprises like a wage garnishment.
My account is seriously delinquent. All my other accounts from other cards got sold and I assumed AMEX did the same thing. Is it really Amex or an Indian rip off artist? They offered $2,500 up front with 17 monthly payments of @ $800. At the end of payment they said they would give me an Optima card.
If there is no forgiven balance involved, there will be no 1099-C issued. Or, it could be they are waiving some fees and interest, in which case a 1099-C would have to be issued where $600 or more is forgiven. Yes, the payments will be transferred to Amex, but the law firm is responsible for monitoring the ongoing payments and forwarding to Amex. ( April 24, 2015 ) Charles, thank you kindly for your prompt response!
Credit Cards for People with Fair Credit Depending on your credit history, you may want to apply for a card for people with fair credit. A number of such cards exist, including: • Capital One No Hassle Cash Rewards • Capital One Classic Platinum If you are a student, you can apply for, which typically has more lenient requirements than American Express. Store credit cards, such as the Gap card, are also a choice for people with fair credit or no credit history.
MyFICO: TU 815, EQ 809 EX 801 Discover TU FICO 803. Rebuilt from 500's.gardening until mortgage time. My father added me as an additional cardholder to his Amex card back in 1993. I currently have my own Amex card which states on the card 'Member Since: 93' and it shows up as opened 12/1993.
I have just gone thru brain tumor cancer treatment, and my wife had double mastectomy at same time. I currently owe around 30k on the plat card, am just past 30 days. I have a large settlement with my old company coming in Mar, over $1M. But cannot pay amex for first time, really bothers me. I cannot afford to do the 12 month hardship deal, would be 3k per month, just cannot do it.
For context, I make 75k a year and probably will just use Optima for recurring smaller expenses. I think it'll be a great way to rebuild credit (I can also backdate to Gold card start date, which will be extremely useful for me given it was my only card)!
MyFICO: TU 815, EQ 809 EX 801 Discover TU FICO 803. Rebuilt from 500's.gardening until mortgage time. Pulled the trigger and pulled fresh reports and scores for all 3.last time was 6-24-13 6-24-13 TU - 639 Exp - 648 Equ - 669 8-1-13 TU - 679 Exp - 660 Equ - 672 AND.this isnt reporting my 3 credit cards being paid down from 89% across boardutil to 0%, 0%, 30% OR my AMEX optima opened last month which will backdate to 1999. Now I have to wait for my 2007 foreclosure to fall off and start some GW with some paid COs. *Does The Robot* Thanks for everyones help! AMEX Green charge NPSL NFCU Cashrewards Visa Sig $25,000 NFCU Navcheck $15,000 AMEX Everyday $15,000 Discover IT $15,000 Amex BCP $18,000 Cap1 Quicksilver $5000 Amex Oasis Optima (recovery card) $500 (closed July 2014)10% util on NFCU, 25% util on Discover, zero on rest, 6% overall.
Amex Optima/oasis Program
My brother got an auto CLI on his BCE account in March. In May he requested a CLI on the same account and it was approved. I know because I pay his bill, lol. Good luck to you! Current cards: CSP - Freedom - Discover It - Amex BCP - BoA BBR - Capital One QS and QS1 - Citi TY.
See cards below in profile. Provided I get an increase on my BCP tomorrow (3x 61 day).is having one lower limit card hurting anything? Its a Cap1 that I never use, no annual fee.
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Obviously my credit is horrible so that is not one of my concerns – just wanting to get rid of this monthly payment. ( June 25, 2013 ) Milton, a settlement of $2,500 on $30k would be 8.3%. I’m very skeptical, as this is extremely low, far below what Amex would normally accept. As with all settlements, you MUST have an agreement in writing before paying. So that is where the “rubber meets the road.” If they won’t document the settlement, then it’s not a legitimate offer, period. As to tax consequences, any forgiven amount will result in a 1099-C for treatment as ordinary income. There is an exemption if you are insolvent (i.e., negative net worth) at the time of settlement.
They have been calling me and trying to get some money but I no longer have a job and my only asset is my house. They say they won’t discuss debt-reduction. Can they put a lien on my house and, if so, is that only after they go after the company and receive a judgment?
[Note: This article originally appeared as a on Steve Rhode’s blog at GetOutofDebt.org. Thanks to Steve for permission to repost here on The ZipDebt Blog.] If you’re facing a legitimate financial hardship and can’t make the minimum payments on your American Express credit card one potential solution is to negotiate a lump-sum settlement for less the balance owed. If you’re unfamiliar with debt settlement, you’re probably wondering how someone who can’t make their monthly payments would have the funds needed for a settlement at, say, 50% of the total balance. But there is a huge difference between income and assets, and many consumers who can’t sustain regular monthly payments due to lack of income or other financial hardship are able to use some of their dwindling savings for the purpose of settlements.
Hey guys,I just paid off an old AMEX account. It was my oldest account, went into collection in 1999, dropped off of my credit a while back. However, since I actually owed this account, I called the Oasis number and made the payment for the full amount.Questions I have as follows:1) Since account has been paid, will it show up on my credit? If so, will it show up as my oldest account like nothing ever happened?2) I declined the Oasis Optima Card offer.
But, is it worth it to wake the AMEX beast? And how would I even go about trying for one? Any info or advice would be appreciated. Hi, I have been reading the threads on here for a long time, thanks in advance as it has helped my tremendously with my credit.
I'm in a better position now and not messing around with Amex again. I understand that I will also get my member since date which span more than 2 daccades. Anyway will it be one HP if I apply for a revolver card? Congrats on your approval Old user name newportguy*** Current Score: myFico EQ - 828 () Discover TU Fico - 826 () EX Fico - 821 ( ) ******* Amex - BCP 10 K * Discover - IT 12 K * U.S. Bank Cash + Visa Signature 8.8 K * PenFed - Cash Rewards 5 K * Amex - GDSM 5 K ******FICO 800 Club Member ******* EQ 828 *** TU 826 *** EX 821 ********* Last HP New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 830's Scores ******. Depending on what's going on with your reports, re-establishing that length of history can be very helpful. Also, for those who are troubled by knowing that they owe money to the creditor, it's a way of clearing that out.But of course, there's no telling what they might do with the actual account.
They have since given the collection to an outside company who said that since the initial offer was declined, Amex will no longer settle again. They said they have no authority to settle and that if I do not begin monthly payments, the loan will never go away. Is that accurate?
My real EQ EX scores are up to 640 650 now and I have a few really ugly baddies that will drop off of my CR in the next year. The ugliest one is a collection on a $10K installment loan that currently shows up on my CR with my other installment accounts, has a $11K+ balance, and will drop off in January 2014. I currently have an Amex Optima/Oasis rebuilder card and am itching to get a regular card with an increasible CL. I've read a few of the threads on the oasis cards and I know I probably will have to cancel the card before I can apply for another Amex card. Like I said, 2 of my 3 real scores have crept up to the 640-650 range. I know that's not very good yet but It's high enough where I am playing with the idea of applying for a new card. Even if I wait a few months and my scores move up to the upper 600's, I am still concerned about the uglies on my CR.
Amex PR Gold NPSL Amex BCP 16.5k Amex Delta Gold Skymiles 14.9k Amex BSP 5k Discover 12.5k Citi Diamond Preferred 11.9k Chase Freedom 12k Chase Sapphire Preferred 12k US Bank Cash + Visa 13k BankAmericard Cash Rewards Signature Visa 9.5k M and T Bank Visa 10.9k FICO TU 784 EQ 768 EX 784. Hey guys,I just paid off an old AMEX account. It was my oldest account, went into collection in 1999, dropped off of my credit a while back. However, since I actually owed this account, I called the Oasis number and made the payment for the full amount.Questions I have as follows:1) Since account has been paid, will it show up on my credit? If so, will it show up as my oldest account like nothing ever happened?2) I declined the Oasis Optima Card offer. However, I was told I can apply any AMEX card 30 days after my payment has been posted on the account. Any truth to that?
Ex-husband beat me up, broke my legs, ribs, etc and due to the injuries became delinquent on all my credit cards. Ex tried to open more accounts in my name so I locked all my information at Experian, Transunion and the other major credit places. Now I can’t access any credit information because I don’t remember the passwords I created to block the accounts and now need to verify any of my credit charges. At the same time I was told I had probable lung cancer. While not working and thinking I might die soon (my three children were young) so I sold everything I could to care for them and pay medical bills.
I travel overseas at least twice a year (leave for asia this Friday)--Amex does carry alot of weight internationally.expecially the platinum card.but I am at least 2 years away Chilton-I've done some reading on the other board.it appears that sometimes last year, AMEX went through reaged some Oasis accts.now I think it is mostly from graduated accts.one u graduate from the program, all the new cards from amex get your orig app date.
Regarding the 20-minute consultation, the link is above right near the top of this web page, or just. I should clarify that I only offer the 20-minute consultation for those who wish to settle and have questions about the process. I don’t offer free consults for the purpose of negotiating full-balance payment arrangements, as this is outside the scope of my program itself. ( May 16, 2013 ) Thank you Charles for your quick response. I will send the certified letter to NCI as I just got their letter in the mail a few days ago. I have heard they are difficult to deal with, their person calls with the kids or tv in the background from a cell phone (I have not spoken to them).
I have a lot of credit cards. Too many to fit in my signature. But I love them all.TU 692, EQ 650 EX 660 as of 05/2014Walmart FICO 683 CreditKarma 652 CreditSesame 671 Capital One free credit score 652. I recently paid off an old Amex green card and was offered an Optima under their Oasis program.Questions for those who've gone this route.- How long will it take Amex to report this debt as paid to the CRAs?- Will they add a new TL, or restore the one created for my old Amex green?- Will my new Optima show original Amex 'member since' date?- After one year, did Amex offer you another card automatically, or did you have to initiate an upgrade on your own?Thanks in advance!MJMessage Edited by mjgray on 08:09 PM. I am new to the forum. I've been slowly rebuilding my credit over the past few years but have only gotten serious about it in the past few months.
My husband is totally against accepting this optima card. If Am.EX want to keep customers then accept our request for the Blue Card instead. Requesting Comments!!!
Logged on after 3 days and approved! Got the platinum card in the mail the day after Christmas. So Gold will get sock drawered until I know that the Platinum card justifies the $450 af.I never would have thought that AMEX and I would be friends again, but the OASIS program rocks. From now on, I will pay AMEX before I pay my mortgage.
American Express Oasis Program
AFAIK this program is mainly a carrot for people who PIF old delinquent balances. Maybe there are other ways in, though. I personally decided not to apply for the Oasis (which is good because I never got the application they said they were sending when I paid).
Thank you to the others for the information! AMEX Green charge NPSL NFCU Cashrewards Visa Sig $25,000 NFCU Navcheck $15,000 AMEX Everyday $15,000 Discover IT $15,000 Amex BCP $18,000 Cap1 Quicksilver $5000 Amex Oasis Optima (recovery card) $500 (closed July 2014)10% util on NFCU, 25% util on Discover, zero on rest, 6% overall. MyFICO: TU 815, EQ 809 EX 801 Discover TU FICO 803. Rebuilt from 500's.gardening until mortgage time. Hi All, I've posted this before but thought I would ask again: I had a Amex CO TL which after paying, was updated appropriately to 'Paid'.
I called to pay a CO in full from 2006 for $2850 and the told me (once my funds were verified) I was pre-approved for the Optima card with a $800 limit as long as I don't have a BK, or currently hold a Amex, I will be approved. The said I should have the app in 20 days (I assuming this is to let the $0 balance report). The Optima card is NOT ELIGIBLE FOR BACKDATING, and any cards you app for from Amex will be an instant denial (wont even pull).
As to tax consequences, any forgiven amount will result in a 1099-C for treatment as ordinary income. There is an exemption if you are insolvent (i.e., negative net worth) at the time of settlement. 4681 for details on how to calculate insolvency. ( June 19, 2013 ) Kari, you won’t be able to settle an account that is paid current, only one that is in serious default and headed for charge-off.
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