AMEX Optima card

[Saver2000]

I was fr'd a few months ago and was forced to close my amex account. I just got an offer from AMEX for a pre-approved optima card.
Has anyone heard of this card?
Does it show up on the credit report as a "secure card"?
Is there any downside to applying/having this card?
Does it require a hard pull? -(It stated in the letter that i'm pre-approved for $1600, thats my basis for thinking no hard pull).

Thanx

[Avid Reader]

Optima was the first AMEX credit card type of card (vs charge card). It's not secured.

According to  this http://en.wikipedia.org/wiki/American_Express#Recent_history AMEX no longer offers the Optima card. Are you sure the offer is really from AMEX?

[Saver2000]

Optima was the first AMEX credit card type of card (vs charge card). It's not secured.

According to  this http://en.wikipedia.org/wiki/American_Express#Recent_history AMEX no longer offers the Optima card. Are you sure the offer is really from AMEX?

Yes i'm sure its from amex. They offer this card to help build credit with them.
I just saw - in another thread on ddf - that if I have an active optima card, they wouldnt approve me me for any other card. I guess that would be a downside. 

[Spiffster]

the optima is what amex calls a "recovery account".  it's what they give you when they want to keep you "in the family".  the usually offer it to you right away.

it's an unsecured credit (not charge) card.  if they're offering it to you, it's the only amex you'll qualify for.  taking it is your quickest way back to a regular amex.  depending on your situation, it should be around 9 months to a year before you can apply for a real amex card.  you will need to cancel the optima before you can apply for another amex card.

don't know if you'll get a hard pull, i would guess not since amex already knows your finances - they soft pull the heck out of you as a member and they have your tax info too (if you complied with that)...

[AsherO]

According to  this http://en.wikipedia.org/wiki/American_Express#Recent_history AMEX no longer offers the Optima card. Are you sure the offer is really from AMEX?

That's about the Optima True Grace card. The Optima card is alive and well AFAIK.

[Saver2000]

the optima is what amex calls a "recovery account".  it's what they give you when they want to keep you "in the family".  the usually offer it to you right away.

it's an unsecured credit (not charge) card.  if they're offering it to you, it's the only amex you'll qualify for.  taking it is your quickest way back to a regular amex.  depending on your situation, it should be around 9 months to a year before you can apply for a real amex card.  you will need to cancel the optima before you can apply for another amex card.

don't know if you'll get a hard pull, i would guess not since amex already knows your finances - they soft pull the heck out of you as a member and they have your tax info too (if you complied with that)...

Thanx for the info.