Curious about backdating and hard inquiries

[apacislvallejo]

During the last quarter, I apped 7 times

BUT ... was approved for Amex BCE / Amex TE / a Chase Freedom and CLI's with Discover IT from 1500 to 5500 6mos out; and then with Wells F/Visa 1000 to 5500 6mos out too.  Just last month, my AAoA was four years and two months.  The oldest thing I had was a BofA checking account that started in 1991; that was when I moved back to SoCal from NYC.  

Okay .... so ---- after reading about backdating here on the boards, I called AMEX to see if they would "link" up my "membership since" date to my previous AMEX account which closed in 1983 [due to chargeoff; but I didn't tell the woman that ...] and after an evening of waiting, I got an email confirming a card replacement, and went online to discover that they changed my "membership since" date to my previous 1983 date; which means my credit line will have extended itself back to then.  And just now, a few moments ago, two emails letting me know the replacements cards were in the mail.

So, I'm approaching day 61 of my AmexCLIx3 next Friday .... how does the new date affect any CLI's and apps for future?  And since I did all those apps the last quarter, when does the "# of hard inquiry" clock start again?  Like if I made an app to Citibank [not that I would] in March, and that was my first one for 2014, does that count as 1 inquiry for the year.

I'm 5% credit utilization and have over 12+ different credit cards, about a handful are sub-prime cards [which I would love to close] like

• Credit One/CL1600, [love to cloes]
• First Premier Bank/CL575, [love to close, it charges for CLI]
• Applied Bank/CL2700, [Love to close, Annual Fees]
• Orchard Bank/CL400, [love to close]
• CapOneVisaPlat/CL750, [love to close]
• CapOneMC/CL3000 ...
• AmxBCE/CL1000 [approaching day 61];
• AmxTE/CL1200, DiscIT/CL5500;
• BestBuyCiti/CL5500;
• WellsFVisa/CL5500;
• Dell Comp RTL Acct/CL2000
• GE Chev / CL2700
• Firestone/CL1200
• GE Capital Airport App/CL1500

Please, any of the "credit elders" do chime in, I'd be interest in your experience and hope ... Thanks for letting me be curious .... best, 

[09Lexie]

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@apacislvallejo wrote:

During the last quarter, I apped 7 times

BUT ... was approved for Amex BCE / Amex TE / a Chase Freedom and CLI's with Discover IT from 1500 to 5500 6mos out; and then with Wells F/Visa 1000 to 5500 6mos out too.  Just last month, my AAoA was four years and two months.  The oldest thing I had was a BofA checking account that started in 1991; that was when I moved back to SoCal from NYC.  

Okay .... so ---- after reading about backdating here on the boards, I called AMEX to see if they would "link" up my "membership since" date to my previous AMEX account which closed in 1983 [due to chargeoff; but I didn't tell the woman that ...] and after an evening of waiting, I got an email confirming a card replacement, and went online to discover that they changed my "membership since" date to my previous 1983 date; which means my credit line will have extended itself back to then.  And just now, a few moments ago, two emails letting me know the replacements cards were in the mail.

So, I'm approaching day 61 of my AmexCLIx3 next Friday .... how does the new date affect any CLI's and apps for future?  And since I did all those apps the last quarter, when does the "# of hard inquiry" clock start again?  Like if I made an app to Citibank [not that I would] in March, and that was my first one for 2014, does that count as 1 inquiry for the year.

I'm 5% credit utilization and have over 12+ different credit cards, about a handful are sub-prime cards [which I would love to close] like

• Credit One/CL1600, [love to cloes]
• First Premier Bank/CL575, [love to close, it charges for CLI]
• Applied Bank/CL2700, [Love to close, Annual Fees]
• Orchard Bank/CL400, [love to close]
• CapOneVisaPlat/CL750, [love to close]
• CapOneMC/CL3000 ...
• AmxBCE/CL1000 [approaching day 61];
• AmxTE/CL1200, DiscIT/CL5500;
• BestBuyCiti/CL5500;
• WellsFVisa/CL5500;
• Dell Comp RTL Acct/CL2000
• GE Chev / CL2700
• Firestone/CL1200
• GE Capital Airport App/CL1500

Please, any of the "credit elders" do chime in, I'd be interest in your experience and hope ... Thanks for letting me be curious .... best, 

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The backdate is for credit reporting only.  Inqs do not reset themselves because of a new quarter or year.  They are based on the actual date the hp was reported, if you apped last Nov, that inq will remain on your CR's for two years ending Nov 2015 -although it will no longer count against your FICO after the first year ( Nov 2014)

Closing accounts may stay on your CR's for up to 10 years.  Once closed, you will no longer have the CL to aid with util.  Therefore you calculate your util without the CL when deciding if closing will be in your best interest. 

[notfancy]

It is a shame that Cap one won't combine accounts.  Seeing as how you have 2 or 3 accounts with them though, if the reason you're looking to close them is an annual fee or some other such thing, you should look through this forum for suggestions on getting those waived, getting a product change to something better, and credit limit increases. I think those accounts still have potential to grow with you.

The First Premier, Credit One, and Applied Bank cards, I can definitely understand you wanting to close. As long as you don't need them for  UTL purposes, what are your reasons for keeping them open?

[apacislvallejo]

Thanks Lexie for the clarification ...
@not fancy ... I already tried to upgrade the Visa to a Quicksilver, but they wouldn't allow it. And I sent a letter to the CEO requesting a credit limit on same, and not heard back, and that was 12/27 .... And Orchard I don't use, by the time I get charging out of it, it's already utilized a lotta $$'s against a tiny CL that they won't increase either.

Thanks. I can hang for a bit. I've got a great lineup of cards, I think, for now ... and grateful that after 30 years, and through the inspiration of these boards I was able to secure AMEX ... not one, but two ... and backdate to 1983 as well .... So thanks again ....

[apacislvallejo]

Oh .... and forgot to address the other ... my credit utilzation against the CL's solely for credit cards is 5%; if I take away First Premier, Credit One, Applied Bank & Orchard ... then my credit card Utilz goes to 6% .... so I dont think I've got too much to worry about.