Ok forget my previous post , Clashmoore answered this one in previous posts.
But my question is, if I get an AMEX, it will backdate me to 2001 and I will gain some points hopefully on my AAoA but since it would not report a credit limit, it will not make my total util % better?
@haulingthescoreup wrote:
@RyVision wrote:
...I logged in to the account this AM and it states original member since date and has changed from 250 limit to "No Pre-Set Limit". I hope it's all worth the effort, I've read AMEX doesn't usually report to EQ anyway (sigh), just TU and EX. Any ideas if someone should dare ask them to report to EQ if it doesn't?
Oh, as for maybe getting the Blue Cash (of some kind? I've heard of a few), I have no lates, no derogs (negatives?) never a BK and should have none unless I die or am seriously hurt somehow and am unable to communicate (knock on wood). Of course if I die everything gets paid anyway and I won't care either way at that point
Also, I have 6 inqs on EX, 1 is over a year old, the new AMEX inq for this new account has not shown up yet.
Even though it might seem like "no big deal" I still recommend anyone young, even if they can't get in as an AU, get in with AMEX if possible, even with a 250 hard limit or autodraft. They are the one thing I've seen that shows how long ago you actually had credit, even if you end up closing the account, it will remain on your CR for some time. Even after paid mortgages in good standing drop off, AMEX will still usually show up.
AmEx most assuredly does report to Equifax. It's all over my EQ reports, and there's never been any problem. AmEx cards do typically take a while to start reporting, but that's for all three.
I *puffy heart* my Blue Cash Preferred. I ran the numbers, and for my shopping (cook everything from scratch, high grocery costs, lots of other things bought from grocery stores that are included), it's a great rewards card for me, fee and all. This will vary per personal usage, of course. At any rate, I haven't pulled out the Costco card in months, and to think how excited I was to pick that one up...
I'm so glad to hear that (about reporting to EQ). I was beginning to think they might not after some of what I've read. Also, my old AMEX was no longer showing up on my EQ, only EX and TU (I think, haven't checked in a while for TU). I think in the past at times it has shown up on EQ and at times not, I think it was on there the one time my Fico showed 840 back in 2007 or 2006 (I'd have to look through the reports to be sure).
That was before a bunch of old accounts that I had closed dropped off. I didn't often check my scores and info back then. The reason I checked was I wanted to switch cell phone co's and when I signed up at a new service the girl said they run credit to ok an account. I told her that was ok and after she did so I asked her if it all looked good, her eyebrow's kinda did that surprised look and she said: "well, you're approved for up to 5 lines without a deposit or call in so I'd say that's pretty good, I don't think I've seen 5 lines ok'd without a request" (I think she was afraid she might have to set me up with 5 phones). So after that I thought I should look at my credit info since it'd been a while.
After those old accounts dropped off, so did my score. AFNI (erroneous collection) showing up on there was also a shock and a huge hit. So after a few small accounts (newer) I realized history was important and only way to get that was to get back in with AMEX. If my old AMEX keeps reporting on EX as well as the new one, I'm curious if both factor in for 89 or just one does. My scores did not jump like I somewhat expected after AFNI was removed with help from the state AG.
The new cards came today, I haven't taken the time to activate them yet. Mine does say member since 89, AU still says member since 11. Even though my old card states 87 (reports used to say opened in 87 then changed a couple years ago to saying opened in 89, expected to remain on report until nov 11). I'm guessing 2 years souldn't make a lot of difference (maybe they'll run across my old account info and report everything back to 87 some day lol).
@CS800 wrote:Ok forget my previous post , Clashmoore answered this one in previous posts.
But my question is, if I get an AMEX, it will backdate me to 2001 and I will gain some points hopefully on my AAoA but since it would not report a credit limit, it will not make my total util % better?
As far as I've read, heard and seen. A no preset limit makes no difference on your utilization unless it reports a balance (any balance), and then it causes a dip. The Bank Americard Signature I'm an AU on, has a 15k limit which shows online and on the statement. On the credit report it shows 0 balance with "flexible spending credit card" for account type and after limit it is simply blank. After terms it says "revolving".
My old AMEX that shows up says: "opened: 1989, Account type: credit card, Limit: blank, Balance: blank, Terms: 1 month, Comments: Credit line closed-consumer request -reported by subscriber".
I'm thinking Z will show as either charge account (most likely) or credit account stating 1 month for terms with no stated limit unless there's a balance and the high balance will be listed in the limit line. So my guess is if we let a Z (charge card) report a balance, it will appear to the system as a card that's at 100% utilization (maxed out). So I don't know if it can help improve utilization under any circumstances really. Maybe someone who has the AMEX Z and has seen how it's reported for them, can chime in with more info.
