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@Open123 wrote:Irrespective of the MSD date on the physical card, all of my apps have always reflected correctly on the CRAs, as recent as a month ago on a PRG.
Right, but that was pre March 21st! To me, the specific date is the most concerning, if a CSR really didn't know what they were talking about, it would be more "We've never done that, the date shown is the date you got the card." etc. So it's possible something else happened on March 21st, but we don't know what that was either
Is this for new apps or does this affect all amex cards? I just pulled my ex report just to check what it looks like on my report. It still shows my 30 year credit history with amex .
@mxp114 wrote:Actually this change makes sense, because American Express has been providing inaccurate data to the bureaus by reporting an incorrect account opening date. This information should reflect the actual account opening date. If this is true, be happy they don't retroactively correct the previously reported misinformation.
I agree in that backdating has never made any real sense, especially the strange formula of month of app + original year (why not use month and year of original)?
But if the change is real, what motivated it? Cost cutting would be an obvious driver, but does Amex pay extra to backdate? Maybe they do, as an extra CRA transaction.
Just contacted the AMEX Credit Bureau Unit at 800-874-2717 and the rep did inform me that if the card has not reported to any credit bureaus by/on March 21 ,2015 then it will not be backdated to the MSD! So I opened a new AMEX EDP on 4/2 and probably wont get reported 30-60 days later and will not get the MSD of 2013...
Will only affect new cards, and I really wish I knew this policy earlier!
@mongstradamus wrote:Is this for new apps or does this affect all amex cards? I just pulled my ex report just to check what it looks like on my report. It still shows my 30 year credit history with amex .
IF it is true, then I would think only new cards. When they changed the rules about AU backdating, they didn't go and change existing ones.
@longtimelurker wrote:
@Open123 wrote:Irrespective of the MSD date on the physical card, all of my apps have always reflected correctly on the CRAs, as recent as a month ago on a PRG.
Right, but that was pre March 21st! To me, the specific date is the most concerning, if a CSR really didn't know what they were talking about, it would be more "We've never done that, the date shown is the date you got the card." etc. So it's possible something else happened on March 21st, but we don't know what that was either
You're right, I can't fathom a rationale explanation, however misinformed the CSR, to cite a specific date such as March 21, 2015! This is the only reason I don't dismiss it offhand.
@Goro48 wrote:Just contacted the AMEX Credit Bureau Unit at 800-874-2717 and the rep did inform me that if the card has not reported to any credit bureaus by/on March 21 ,2015 then it will not be backdated to the MSD! So I opened a new AMEX EDP on 4/2 and probably wont get reported 30-60 days later and will not get the MSD of 2013...
I'm not crazy! It's good that someone else confirmed the same thing, but terrible that it's true. That's the same phone number I called, btw.
I'm starting to like Amex less and less. Time for me to move on if this is really happening. I got my MSD locked for 2014 though so I'm trying to see if this is gonna affect us.
@longtimelurker wrote:
@mxp114 wrote:Actually this change makes sense, because American Express has been providing inaccurate data to the bureaus by reporting an incorrect account opening date. This information should reflect the actual account opening date. If this is true, be happy they don't retroactively correct the previously reported misinformation.
I agree in that backdating has never made any real sense, especially the strange formula of month of app + original year (why not use month and year of original)?
But if the change is real, what motivated it? Cost cutting would be an obvious driver, but does Amex pay extra to backdate? Maybe they do, as an extra CRA transaction.
As much as I've benefited and utilized backdating, MXP's observation is correct. Technically, the open since date has always been inaccurrate and I'm not really sure the reason why Amex is the only issuer allowed this indiscretion.
Amex has stipulated they're not in the "credit repair" business when some long tenured cardmembers charged a fee for adding AUs. Changing this would be a huge step that direction.