<prompt> Human: I am in collections with American express right now. The account is probably 3 years old or so. I am in a position to start rebuilding my credit. Amex has given me a couple of options. I can settle for half the amount owed 500, pay the full amount 1000, or pay the full amount and also open an American Express Optima Oasis card, credit limit 500. I dont have any open credit cards now. What should I do?  <response>: I can only tell you what I would do: option three. I generally feel like if I can afford to pay my debts, I should do so, so settling for half on such a small amount would not be the way to go. Leaving the last two choices, I would choose to get the card if I really wanted to build credit. Kill two birds with one stone, so to speak. Of course this assumes no significant fees on the card, or fees comparable to other cards for your credit status. 