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AMEX Qn...

Frequent Contributor

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)
Message 1 of 3
2 REPLIES
Epic Contributor

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.

Message 2 of 3
Established Contributor

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

 

 

Message 3 of 3