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Contributor
Posts: 80
Registered: ‎06-13-2008
0

Re: AMEX

Geez!  That bumps my average age from 5 to 9 years!!  And, instead of the original Amex only reporting on Experian, the date will report on all 3 CRAs.  Will I rebucket on average age?
 
 
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: AMEX

you very well could-

Chazman wrote:
Geez!  That bumps my average age from 5 to 9 years!!  And, instead of the original Amex only reporting on Experian, the date will report on all 3 CRAs.  Will I rebucket on average age?
 
 



Contributor
Posts: 80
Registered: ‎06-13-2008
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Re: AMEX

Well worth the temporary hit.  This is AWESOME!!!  Made my month!!. 
 
FICO Forums rocks - can't begin to tell you guys how helpful it's been - many, many thanks! 
Frequent Contributor
Posts: 335
Registered: ‎04-04-2008
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Re: AMEX



Chazman wrote:
Thanks Cheddar - I just got off the phone and, strangely, the card replacement rep told me she couldn't locate the original account, "but the CSR was able to."  Anyway, she said no prob with the switching the opened date on my Blue card from 2006, back to the original 8/87 date.  Said I'll receive the replacement Blue card (with the same acct#) in a couple of weeks)
 
Does that mean I just picked up 19 or so years of clean credit history on my Blue?





Congrats.

I'm gonna try that this evening. Last time I called the number on the back of the card, they could not find my old account. I still have my old card so I will try the backdoor # listed in the stickies this time.
Regular Contributor
Posts: 204
Registered: ‎06-16-2008
0

Re: AMEX

From a previous poster, even if they can't locate the account...
 
IF you have the card they will verify the account number from the card and the security code.
 
It should work.
6/16/08 EQ-632
8/1/08 TU-717 EQ-690 EX-696
9/6/08 EQ-711
Contributor
Posts: 80
Registered: ‎06-13-2008
0

Re: AMEX

Rebucket Update (9/2): results of "changing" my AMEX "opened" date back from 1996 to 1987; oldest account jumped from 13+ to 21+ years, avg age jumped from 5 to 9+ years....

And my EQ FICO Score..drumroll please....fell 17 points.  Rebucketing at it's finest, I suppose, but good news is my FICO simulator target margins moved up 40 points across the board (low and high). 

Patience is a virtue :smileymad:

 

 

 

Super Contributor
Posts: 8,188
Registered: ‎03-25-2007
0

Re: AMEX



Chazman wrote:

Rebucket Update (9/2): results of "changing" my AMEX "opened" date back from 1996 to 1987; oldest account jumped from 13+ to 21+ years, avg age jumped from 5 to 9+ years....

And my EQ FICO Score..drumroll please....fell 17 points.  Rebucketing at it's finest, I suppose, but good news is my FICO simulator target margins moved up 40 points across the board (low and high). 

Patience is a virtue :smileymad:



A wonderful rebucketing story - get the mods to put it somewhere useful!
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
0

Re: AMEX


MidnightVoice wrote:

Chazman wrote:

Rebucket Update (9/2): results of "changing" my AMEX "opened" date back from 1996 to 1987; oldest account jumped from 13+ to 21+ years, avg age jumped from 5 to 9+ years....

And my EQ FICO Score..drumroll please....fell 17 points.  Rebucketing at it's finest, I suppose, but good news is my FICO simulator target margins moved up 40 points across the board (low and high). 

Patience is a virtue :smileymad:


A wonderful rebucketing story - get the mods to put it somewhere useful!
Err, where?

And Chazman, I feel your pain. Bad-tasting medicine! :smileytongue: 15 points for me, and I needed every one of them at the time, but I like what the sims said. Certainly my scores are a lot higher than the mid-600's of the time, even though I've done some additional necessary destruction.

But this is certainly something to keep in mind when using the old account dates to help out your history. Helpful in the long run, but definitely at risk for initial explosions.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Contributor
Posts: 80
Registered: ‎06-13-2008
0

Re: AMEX

Thanks Hauling...
 
This is like double taxation...you take the initial hit with new accounts to lower your utilization, and decrease avg age at the same time (another hit). Then, if/when "you throw the longball" and reset age/avg age back, you take another hit.  I know it's a long-term strategy, and it makes sense, but I'm guessing the "AMEX original date" scenario is not something that was foreseen by the algorithmic wizards at FICO.
 
Good news though...this is definitely a long-term play and, based on the new score sim, will begin paying off nicely even at 6 mos...well worth the short term aggravation...
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
0

Re: AMEX

Awesome educational post. Sorry it hurt. I'm still confused whether it is 19+ or 20+ years for this bucket.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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