American Express has a called ‘American Express Optima‘ (not to be confused with the rumored American Express Optio card). This card was American Express’ first credit card offered (previous cards were charge cards) that originally launched in 1987. Recently I’ve been seeing more and more mentions of this card on credit rebuilding sites such as myFICO.
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What Is The Optima Card?
The American Express Optima card is a ‘second chance’ card with a $49 annual fee.
Who Can Apply For This Card?
It’s not possible to apply for this card directly, you need to be invited to apply. Unlike premium cards such as the American Express Black card this isn’t a card you want to be invited to apply for. Generally American Express offers this to cardholders who had a relationship with American Express and then defaulted/became delinquent on payments. American Express then offers this card as an option once these balances have been settled. American Express doesn’t offer a secured credit card, so this is an alternative to that. Sometimes these are referred to as second chance credit cards.
What Benefits/Earning Rates Does This Card?
Like most cards aimed at those with poor credit this card doesn’t come with any real benefits for the $49 annual fee. It’s also not a rewards earning card.
