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Frequent Contributor
Posts: 307
Registered: ‎02-03-2008
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Amex Backdating Question?

[ Edited ]

Just recently got my Amex PR Gold and Zync on the same day with 1 pull on EX.  Both cards are now backdated to 1985.

Is is better to have 2 Amex accounts backdated or just 1 account?  Will each account report as open for 27 years?

Not sure how that works and if it is better for my AAOA.

Fico:EQ 685 (7/10/15) EX 681 (7/10/15) TU 660 (7/10/15)
Credit after BK DC 1/14/14: C1 Venture One $10,000 / C1 Quicksilver Visa Sig $10,000 / C1 Quicksilver WMC $6000 / SDCCU Plat Visa $2500 / Sams Club Store Card $437 / JCPenny $500
Survived BK Filing: Fort Knox CU Plat Visa $5000 / Lowes $7000 / HSN Card $3000 / Walmart Card $2000 / Macys $800 / Target Red Card $500
Established Contributor
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Re: Amex Backdating Question?

I'm no expert, but two 27 year old accounts HAS to be better than one for AAoA purposes.

 

Congratulations!

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
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Re: Amex Backdating Question?


BobbyJ wrote:

Just recently got my Amex PR Gold and Zync on the same day with 1 pull on EX.  Both cards are now backdated to 1985.

Is is better to have 2 Amex accounts backdated or just 1 account?  Will each account report as open for 27 years?

Not sure how that works and if it is better for my AAOA.


Each should report 27 years...

Ray

** Every Card has a Job, and Every Card does its Job **

Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: Amex Backdating Question?


BobbyJ wrote:

Just recently got my Amex PR Gold and Zync on the same day with 1 pull on EX.  Both cards are now backdated to 1985.

Is is better to have 2 Amex accounts backdated or just 1 account?  Will each account report as open for 27 years?

Not sure how that works and if it is better for my AAOA.



Congrats on the approvals !!!  And yes each card will have 27 years of age, which is FANTASTIC for your AAoA.   Congrats !!

 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
Posts: 307
Registered: ‎02-03-2008
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Re: Amex Backdating Question?

Thanks to everyone for your answers.  AAOA currently is 3 years 11 months so 2 Amex accts with 27 years each should do wonders for me.  :-)

Fico:EQ 685 (7/10/15) EX 681 (7/10/15) TU 660 (7/10/15)
Credit after BK DC 1/14/14: C1 Venture One $10,000 / C1 Quicksilver Visa Sig $10,000 / C1 Quicksilver WMC $6000 / SDCCU Plat Visa $2500 / Sams Club Store Card $437 / JCPenny $500
Survived BK Filing: Fort Knox CU Plat Visa $5000 / Lowes $7000 / HSN Card $3000 / Walmart Card $2000 / Macys $800 / Target Red Card $500
Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: Amex Backdating Question?


BobbyJ wrote:

Thanks to everyone for your answers.  AAOA currently is 3 years 11 months so 2 Amex accts with 27 years each should do wonders for me.  :-)


 

Wow, you should get a really nice AAoA boost ~ definately let us know what it looks like after both cards are reporting on your CRs !

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Established Contributor
Posts: 510
Registered: ‎04-16-2011
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Re: Amex Backdating Question?

lets say you only had those 2 accounts showing. your average would be 27 x 2/2 which would be 27 years. if you only had the one it'd still be 27 years... 27 x 1/1 >_<

 

BUT... lets say you have 1 account with 2 years of age and then 2 with 27 that would be 18 average... if you only have the 1 with 27 years then it'd be 14 years average..

 

then yea.. having the 2 reporting as 27 years of age it'd be much better for ur AAoA.

 

hope that wasn't confusing >_<


Starting Score: 575 (As Of Early 2011)
Current Score: TU: 767 EQ: 732 EX; 742 (As Of Feb 2012)
Goal Score: 750


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Posts: 1,971
Registered: ‎02-06-2011
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Re: Amex Backdating Question?

[ Edited ]

BobbyJ wrote:

Thanks to everyone for your answers.  AAOA currently is 3 years 11 months so 2 Amex accts with 27 years each should do wonders for me.  :-)


 I'm basing this on your AAoA's that you have listed @ 3 yrs 11 months and the TL's you have listed in your Siggy.

 

You have 47 months AAoA's now and 11 TL's in your siggy. (including your two new AmEx's)

 

Your two new AmEx's will have 324 months each (@ 27 years old) X 2=648+47=695 divided by 11=63.18 divided by 12=5.26 AAoA's

 

So your new AAoA's will be 5.26 (FICO rounds down AAoA's) your new AAoA's should be 5 yrs.

 

The more TL's you have, the less your AAoA's will go up, but to go from 3 yrs AAoA's to 5 yrs once both AmEx's report is a huge jump.

 

Congratulations.

 

 ETA: this will only be correct if the TL's listed in your siggy is all that's on your report/s, if you have closed accounts that are not listed in your siggy but are on your reports, your AAoA's will be lower. And this is also dependant if the TL's you have listed in your siggy report to all three CRA's, so each of your CR's if not identical, your AAoA's will be different on each.


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
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Frequent Contributor
Posts: 307
Registered: ‎02-03-2008
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Re: Amex Backdating Question?

Thanks for the calcuations Mustang.  So does that mean the with the added 2 new Amex accounts at 27 years each my AAOA will only increase by approximately 1 year. so from 3 years to 11 months to just 5 years?  I was hoping for more of a boost but I will take what I can get. 

Thanks again.

Fico:EQ 685 (7/10/15) EX 681 (7/10/15) TU 660 (7/10/15)
Credit after BK DC 1/14/14: C1 Venture One $10,000 / C1 Quicksilver Visa Sig $10,000 / C1 Quicksilver WMC $6000 / SDCCU Plat Visa $2500 / Sams Club Store Card $437 / JCPenny $500
Survived BK Filing: Fort Knox CU Plat Visa $5000 / Lowes $7000 / HSN Card $3000 / Walmart Card $2000 / Macys $800 / Target Red Card $500
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Posts: 17,419
Registered: ‎07-14-2009
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Re: Amex Backdating Question?


BobbyJ wrote:

Thanks to everyone for your answers.  AAOA currently is 3 years 11 months so 2 Amex accts with 27 years each should do wonders for me.  :-)


Do you know when each of your current 11 accounts (before adding the Amex) was opened by month and year? Or would you happen to know the total numbers of months they have been open to the present?

 

Also as has already been mentioned do you have any closed accounts reporting? I ask because AAoA includes all open and closed accounts (except collections and PR's).

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

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