topic Re: AMEX latest day to apply to get 2012 member date in Credit Cards

AMEX latest day to apply to get 2012 member date

pat0812 — Fri, 12 Oct 2012 16:41:37 GMT

Hello,

my Wells Fargo card reports every month around the 17 to the Credit bureaus

if I apply on 19th of December will I still make it as a 2012 member?

Re: AMEX latest day to apply to get 2012 member date

Duncanrr — Fri, 12 Oct 2012 17:00:03 GMT

I think you would be cutting it too close. Dec 24th is a Monday this year and the 19th is the Wednesday before. There are not many business days between the 19th and the end of the month when you factor in holidays. The 31st is also a Monday so that leaves you with only 5 business days (not counting the 19th).

Re: AMEX latest day to apply to get 2012 member date

pat0812 — Fri, 12 Oct 2012 17:33:50 GMT

How many business days do you need?

why doesn't the approval date counts as the year?

is it when I activate my card or when they print the card?

Re: AMEX latest day to apply to get 2012 member date

Duncanrr — Fri, 12 Oct 2012 17:38:21 GMT

I would say apply late on the 17th and u should be fine.

Re: AMEX latest day to apply to get 2012 member date

Revelate — Fri, 12 Oct 2012 18:08:13 GMT

pat0812 wrote:
How many business days do you need?
why doesn't the approval date counts as the year?
is it when I activate my card or when they print the card?

I couldn't tell you, but anecdotally it does not. If I had to guess it's probably when either the account is established, or the actual card is created which may be the deciding factor anyway; however, I'm pretty certain it's not when you activate (though that counts the CLI clock on a revolver). It's tough to know with a lender's systems in what order they do things explicitly; however, we had people last year wait until the last week or so of December and get '12 as their member date instead of '11. I don't recall the full details but I think there was mixed success for their getting that changed.

Also is that the date the bureaus update, or the date your statement closes? Could be another day or two swing in there. One thing I would suggest, is when I got my Zync I had the option of getting the number right then and there so I could use it online... all I can say is DO IT, and make any stupid online charge (a cookbook from Amazon directly or whatever) from an easily recognizable merchant ASAP. I think this can only help for trying to hit your '12 deadline if you need to cut it close.

Re: AMEX latest day to apply to get 2012 member date

djrez4 — Fri, 12 Oct 2012 18:27:15 GMT

Must agree with Duncan, here. Why do you need the WF card to report before you apply? High utilization on your last report?

Re: AMEX latest day to apply to get 2012 member date

Revelate — Fri, 12 Oct 2012 18:29:12 GMT

djrez4 wrote:
Must agree with Duncan, here. Why do you need the WF card to report before you apply? High utilization on your last report?

I think if I remember the OP's other posts, his history is either going to be 5 or six months reported by the time he applies for this; and if it's that second case, 6 is way better than 5, and I suspect 4 is worse than 5 too from an underwriting perspective.

Re: AMEX latest day to apply to get 2012 member date

TheConductor — Fri, 12 Oct 2012 18:37:35 GMT

When I applied for the Zync i had to call in for the address verification they often do. The rep was super-polite and accommodating in every way. I would highly recommend calling them whether you are instantly approved, get the 7-10days message, or whatever. And on the call, specifically say you were wondering if your member since date could reflect 2012. It'll be less of a crapshoot if you can get a human being on your side.

Otherwise, I do think you would be cutting it close. If I recall correctly, my card was postmarked about 7 days after my application to them, but around the holidays that timeframe would be likely to lengthen.

Still, it was kind of funny to me at the time because I got my original Zync card, called them and had them backdate me to my prior AmEx card, then requested a new card and received that, all after I had requested the Cash Rewards product change from BoA but before I received the new BoA card. Compared to AmEx, BoA is glacial.

Re: AMEX latest day to apply to get 2012 member date

pat0812 — Fri, 12 Oct 2012 19:28:02 GMT

I'm going to have 6 months in November 17, but I was wondering if increasing my limit

with Wells Fargo would get me more chances to get approved for a charge card with AMEX

should I apply in November or December ?

Re: AMEX latest day to apply to get 2012 member date

Koop10010 — Fri, 12 Oct 2012 19:58:06 GMT

If it's any indication, I remember I applied for my Gold card on April 30, 2010 and it reports as being opened in April, 2010 on my credit reports despite that I was approved on the last day of April. I'm not sure if that's relevant or not though.

Re: AMEX latest day to apply to get 2012 member date

Duncanrr — Fri, 12 Oct 2012 21:13:42 GMT

That works if instant approval. If there is any processing of app then OP may be in trouble of waits too late.

Re: AMEX latest day to apply to get 2012 member date

TheConductor — Fri, 12 Oct 2012 21:38:31 GMT

I'm going to have 6 months in November 17, but I was wondering if increasing my limit with Wells Fargo would get me more chances to get approved for a charge card with AMEX should I apply in November or December ?

Ok, I went and looked at your older thread. Here's what you have now:

1) Wells Fargo $300 secured card

2) Walmart $400 store card

3) Capital 1 $500 unsecured card

Amex's scoring is a black box, of course, but if you're going for a charge card I don't think you need to worry nearly as much about boosting your secured limit on the WF as you would need to if you were going for an AmEx revolver.

Case in point: my highest open limit when I got approved for the Zync was $2000, and my next highest was $500. I checked my spending ability for the Zync within the first month of having it for $4000 and it was approved. So unlike revolvers, where the lender often tries to gauge where they set your limit by the other limits you have, AmEx apparently uses other methods to determine where the hidden limit on your NPSL lies.

That being said, I might, just to be cautious, try to boost the WF card up to slightly over $1000. If you can do that right now before WF does their November report, then apply after it shows on the report, I think you'd be well enough positioned to get a green or gold card as long as utilization and scores are in line for it. You'll have 3 tradelines with 6 months of perfect history, which is the baseline of what they are looking for.

Even if you can't do that immediate CL boost, I'd probably go ahead and apply after the November report just to be sure you get in well before the end of 2012. Even if it means a lower hidden limit, the long-term value of an extra year of age on every AmEx account you will ever have has to be worth the hassle of a lower spending ceiling in the short term. AmEx will definitely revise those ceilings as your good history with them accumulates, but you can never change the date of your first AmEx card.

Re: AMEX latest day to apply to get 2012 member date

CruzImperial — Fri, 12 Oct 2012 21:55:53 GMT

I don't want to bother but could you be so gentle to provide us with the opening dates of your CCs?

Re: AMEX latest day to apply to get 2012 member date

adavis425 — Fri, 12 Oct 2012 23:30:19 GMT

The date of approval is your date of membership. The
only variable would be the 7-10 day message. Seems to me you would have enough time for a 12 member since date.

Re: AMEX latest day to apply to get 2012 member date

creditnocash — Sat, 13 Oct 2012 01:44:10 GMT

+1 on the date.

apped for my card at about 9pm aug 30th 2012 and website and card say member since aug 2012

Re: AMEX latest day to apply to get 2012 member date

Revelate — Sat, 13 Oct 2012 05:14:50 GMT

pat0812 wrote:
I'm going to have 6 months in November 17, but I was wondering if increasing my limit
with Wells Fargo would get me more chances to get approved for a charge card with AMEX
should I apply in November or December ?

Your historical limits are pretty irrelevant for Amex charge approvals, it's more a factor of income. I wouldn't sweat this.

Honestly though, I'd take the shot twice: November, and then December if not approved; however, I'm firmly of the opinion that a '12 backdate is much better than a '13 backdate over the next 3-4 years, and as such an extra inquiry to me if needed is utterly trivial in comparison (since it's minimal damage and that's gone score-wise in a year anyway).

Good info from others posted about the date; however, with the 7-10 day possibility, earlier is better. I don't think that limits or a 7th reported month will make more than a marginal difference, so I'd simply take the shot after the sixth reported month on my tradeline.

Re: AMEX latest day to apply to get 2012 member date

pat0812 — Sat, 13 Oct 2012 13:20:37 GMT

ok i agree, but if i get denied on november 18th, i will only be able to file the next application in december 19th, that will be very close to the end of the year lol

Re: AMEX latest day to apply to get 2012 member date

shadow2k — Sat, 13 Oct 2012 19:30:57 GMT

Just as a datapoint, I went back and looked at some old emails from when I app'd to Amex in 2007. I applied Dec 18th, 2007....instantly approved. That was a Tuesday, same setup as this year actually. Mine says 2007.

Re: AMEX latest day to apply to get 2012 member date

tinuviel — Sat, 13 Oct 2012 19:47:14 GMT

shadow2k wrote:
Just as a datapoint, I went back and looked at some old emails from when I app'd to Amex in 2007. I applied Dec 18th, 2007....instantly approved. That was a Tuesday, same setup as this year actually. Mine says 2007.

You piqued my curiosity, so I went and took a look at the date of the inq for my Amex. I apped on May 18, 2011 and was approved the same day. The account was backdated to May 1987.

Re: AMEX latest day to apply to get 2012 member date

JustMe77 — Sat, 13 Oct 2012 20:15:00 GMT

I applied for my Amex Zync on 12/30/2011. I was able to use the card to purchase something that day, because they immediately give you your card # online after approval.

When the card came, it said "member since 2012". My online account said the same thing. I called Amex and they changed it to 2011. Now when I log on to the Amex site, it says "member since 2011".