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?? About Amex backdating??

Established Contributor

Re: ?? About Amex backdating??

Does anyone know who much my AAOA will jump up adding the 16 yrs x 3 to my CR?..i have about 5.8 yrs on TU and EXP.....4.2 on EQ....this month my app spree was harsh...about 5 inq on exp and 2 each on TU AND EQ..... Hence garden mode till atleast late 2013


Message 21 of 27
Valued Contributor

Re: ?? About Amex backdating??


amercnchopz34 wrote:

Does anyone know who much my AAOA will jump up adding the 16 yrs x 3 to my CR?..i have about 5.8 yrs on TU and EXP.....4.2 on EQ....this month my app spree was harsh...about 5 inq on exp and 2 each on TU AND EQ..... Hence garden mode till atleast late 2013


Depends on how many credit lines (open and closed) are on each report.   So, if you  have X lines showing on TU, the old total is 5.8*X, new total is 5.8*X + 48, so the new average is 5.8 + 48/X,

i.e. an increase of 48/X years.

 

So unless X is very large, you will see a significant increase.

Message 22 of 27
Established Contributor

Re: ?? About Amex backdating??


bs6054 wrote:

amercnchopz34 wrote:

Does anyone know who much my AAOA will jump up adding the 16 yrs x 3 to my CR?..i have about 5.8 yrs on TU and EXP.....4.2 on EQ....this month my app spree was harsh...about 5 inq on exp and 2 each on TU AND EQ..... Hence garden mode till atleast late 2013


Depends on how many credit lines (open and closed) are on each report.   So, if you  have X lines showing on TU, the old total is 5.8*X, new total is 5.8*X + 48, so the new average is 5.8 + 48/X,

i.e. an increase of 48/X years.

 

So unless X is very large, you will see a significant increase.


Huh.....im not following.......what does the 48 signify


Message 23 of 27
Valued Contributor

Re: ?? About Amex backdating??


amercnchopz34 wrote:

bs6054 wrote:

amercnchopz34 wrote:

Does anyone know who much my AAOA will jump up adding the 16 yrs x 3 to my CR?..i have about 5.8 yrs on TU and EXP.....4.2 on EQ....this month my app spree was harsh...about 5 inq on exp and 2 each on TU AND EQ..... Hence garden mode till atleast late 2013


Depends on how many credit lines (open and closed) are on each report.   So, if you  have X lines showing on TU, the old total is 5.8*X, new total is 5.8*X + 48, so the new average is 5.8 + 48/X,

i.e. an increase of 48/X years.

 

So unless X is very large, you will see a significant increase.


Huh.....im not following.......what does the 48 signify


48 is your "16 yrs x 3"

Message 24 of 27
Frequent Contributor

Re: ?? About Amex backdating??

do you have to inform amex that you had a previous card/acct to get backdating on a new one?

(or do they automatically know?)


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Message 25 of 27
Established Contributor

Re: ?? About Amex backdating??


Imua wrote:

do you have to inform amex that you had a previous card/acct to get backdating on a new one?

(or do they automatically know?)


They often "know" and this is done automatically.  However, for members who have had their cards years ago, they sometimes have to call and request the backdate - this is not always successful.


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Message 26 of 27
Highlighted
Frequent Contributor

Re: ?? About Amex backdating??


TNTransplant wrote:

Imua wrote:

do you have to inform amex that you had a previous card/acct to get backdating on a new one?

(or do they automatically know?)


They often "know" and this is done automatically.  However, for members who have had their cards years ago, they sometimes have to call and request the backdate - this is not always successful.


Thanks for the info  Smiley Happy

 

 

 


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Message 27 of 27