AMEX Backdating Help

[kogama]

Hello, so this is a long complicated thing but all 3 of my AMEX cards are backdated to 1970

I am in my mid 20s and when I got an auto loan it came up as a red flag and I got a worse APR even though technically according to every FAKO/FICO, every online credit score system from multiple banks, credit karma etc my credit score is a 845 minimum 

I have paid off student loans

multple credit card accounts with good standing

paid off auto loans

my question is does anyone who has cards backdated beyond their birthday encounter problems when they try to get a loan?

[Gmood1]

Sounds like you got ripped off. You must have went through dealership financing instead of going directly through a bank or Credit Union? There's no reason for you to get a higher rate based on CC back dating.

[Anonymous]

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@kogama wrote:

Hello, so this is a long complicated thing but all 3 of my AMEX cards are backdated to 1970

I am in my mid 20s and when I got an auto loan it came up as a red flag and I got a worse APR even though technically according to every FAKO/FICO, every online credit score system from multiple banks, credit karma etc my credit score is a 845 minimum 

I have paid off student loans

multple credit card accounts with good standing

paid off auto loans

my question is does anyone who has cards backdated beyond their birthday encounter problems when they try to get a loan?

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When there is credit establshed before DOB there is a "flag" on your credit file; however, this really shouldn't make a difference in your getting a loan and it certainly shouldn't have left you with a higher rate. 

Please please please, if you only learn one thing from this forum it is this: join a credit union! With a credit union you build a relationship and you can be in contact with them and explain things like this-if they even come up. Then you get approved for your loan from the credit union, you walk into the dealership like a boss and pay as a cash customer by writing the credit union check over to them. 

Also, as an aside...scores aren't everything. Especially when it comes to big ticket items like cars and mortgages. Lenders want to see past installment history. So, if this was your first auto loan etc that may have had something to do with it. Again...credit union. Its not too late though, you can see about refinancing with your credit union. 

[K-in-Boston]

I agree that there is no reason this should have affected your rate. Yes it may raise a flag, but it's also one of the key reasons you have a stellar credit score! You have paid auto loans already and I assume this was never an issue before.

To me it sounds like you may have received financing through the dealer, and remember that they get a cut when they get you financed through one of their partners. Likely just a matter of the financing department getting an extra bonus for getting you into that higher APR loan. You should be able to immediately refinance with PenFed, DCU or another credit union for a fraction of that!

[Chickenpotpie]

Did they tell you what the scores were after they pulled?  Backdating should not have been an issue for your rate.

[fedxboy]

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@kogama wrote:

Hello, so this is a long complicated thing but all 3 of my AMEX cards are backdated to 1970

I am in my mid 20s and when I got an auto loan it came up as a red flag and I got a worse APR even though technically according to every FAKO/FICO, every online credit score system from multiple banks, credit karma etc my credit score is a 845 minimum 

I have paid off student loans

multple credit card accounts with good standing

paid off auto loans

my question is does anyone who has cards backdated beyond their birthday encounter problems when they try to get a loan?

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You're post is really confusing to me, but I'm certainly no expert!!  Understandably, your scores should cause alarm, since you're only in your 20's as you say and you have backdated cards to 1970??????    I suspect as an AU?  I'd say your scores are not legit!  I thought Amex stopped backdating  for everyone, especially authorized users, since THIS could happen.....  I wonder what your scores would truly be without the Amex cards??   I have no answers for you, as you truly shouldn't be benefiting from backdated Amex cards, beyond your birthdate.  OH well, Good Luck!

[kogama]

Wow, okay I'm reading all this and yea it sounds like they wanted me to go through a partner

This was before the military so I'll try going through my bank USAA and make a NFCU account while I'm at it

[kogama]

I'm on mobile and can't edit but I should add that you can still backdate on Amex no matter what is listed here. I have successfully helped friends who should have been backdated get backdated post policy change. Feel free to message me as thanks for the help

[longtimelurker]

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@fedxboy wrote:

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You're post is really confusing to me, but I'm certainly no expert!!  Understandably, your scores should cause alarm, since you're only in your 20's as you say and you have backdated cards to 1970??????    I suspect as an AU?  I'd say your scores are not legit!  I thought Amex stopped backdating  for everyone, especially authorized users, since THIS could happen.....  I wonder what your scores would truly be without the Amex cards??   I have no answers for you, as you truly shouldn't be benefiting from backdated Amex cards, beyond your birthdate.  OH well, Good Luck!

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The policies have changed over time, first AUs not getting date of member, then backdating stopping for everyone, but these apply only to new cards.  Any cards that had been backdated will still stay that way on the CR.

I see kogama says there is still a way.  Interesting if indeed true.

[fedxboy]

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@longtimelurker wrote:

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@fedxboy wrote:

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You're post is really confusing to me, but I'm certainly no expert!!  Understandably, your scores should cause alarm, since you're only in your 20's as you say and you have backdated cards to 1970??????    I suspect as an AU?  I'd say your scores are not legit!  I thought Amex stopped backdating  for everyone, especially authorized users, since THIS could happen.....  I wonder what your scores would truly be without the Amex cards??   I have no answers for you, as you truly shouldn't be benefiting from backdated Amex cards, beyond your birthdate.  OH well, Good Luck!

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The policies have changed over time, first AUs not getting date of member, then backdating stopping for everyone, but these apply only to new cards.  Any cards that had been backdated will still stay that way on the CR.

I see kogama says there is still a way.  Interesting if indeed true.

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@I understand that as I have backdated cards; however, they are backdated to the date that I truly had my 1st Amex @ 19 -- not being an AU  and certainly not well before I was born, as this was one of the perks per se for the main card holder.   If i didn't join MYFICO in 2012, I probably never would of learned of such.   Oh well, others are luckier I guess.