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Frequent Contributor
Posts: 284
Registered: ‎05-11-2009
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AMEX Qn...

Whats up ppl... ???

 

Quick question about amex... apped lots of cc's in the last year or so... credit file is like 4.5 yrs old with AAOA of 1 year. If my grandpa were to add me on his amex - think he has had it since eighties or early ninties and then I get an amex of my own (say green or zync) and get amex to backdate it - do you know what this would do to my score?

Speculations welcome... also planning to buy an investment property in sept.

 

Thanks

Aim to be fiscally and physically fit...
EQ - 723 FICO as of Aug 2010
TU - 757 FICO as of Sept 2010
EX - 742 FICO as of Oct 2010 (PSECU)
Epic Contributor
Posts: 25,822
Registered: ‎10-23-2007
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Re: AMEX Qn...

you would probably see a little gain because of longer age, but not sure how many points we are actually talking about.

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
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Established Contributor
Posts: 855
Registered: ‎06-29-2010
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Re: AMEX Qn...

You would definitely see some gain because of the longer history and AAoA, but how big would most likely be a function of what your score and how recent any baddies are.

 

Imagine a 780 vs. a fairly clear 700 vs. a messy 600. I would imagine that all three scores would go up, but that absolute and % change would probably be biggest the lower your score was.

 

Keep in mind that established history = 15% of the FICO score. That's probably the only thing that you're going to improve right now:
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Credit-Scoring-101-START-HERE/m-p/8169

 

 

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