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Regular Contributor
codesingh
Posts: 245
Registered: ‎12-27-2012
0

Gained 11 years in my Cr Age...

I read so much and ansked so many people about how this really works...but it wasn't as clear and had so many doubts until I really saw my amex membership backded (open date) on the CR today! Wow that's a lot and I sure am a happy camper now. I already see my vantage score gone high...really wanted to get a <1% on car loan this summer and looks like it may just happen.

The whole amex bacdating, member since date etc etc were as clear to me...it was red herring!

 

~ 100k in Rev CC. 15k Credit Line. 16.5k Car Loan(@1.7%) Starting scores: 690 EQ (Dec 2012) Mid-year FICO scores April ‘13 Pulled by lenders(Barclays, Amex): TU 747 • EQ 752 • EX 746 • Scores As of Nov 2013: 740 and above across the board.
Regular Contributor
VegasKyle
Posts: 184
Registered: ‎02-12-2010
0

Re: Gained 11 years in my Cr Age...

Nice! I was shocked to see both AMEX cards I applied for in march showing 13 years as their age. I guess AMEX saw fit to backdate my account, even though I was only an AU on a charge card account back in 2000, and the account has been closed for 11+ years.

My AAoA went from 3 months to 8+ years. Thanks for the 70 point boost AMEX!

Starting Score: EQ 599, TU 577
Current Score: EQ 703 9/20/14(HI 741 on 5/13), TU 690 10/1/14 (HI 751 on 5/13), EX 700 10/1/14
Goal Score: 750+


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09Lexie
Posts: 25,918
Registered: ‎09-13-2012
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Re: Gained 11 years in my Cr Age...

Regular Contributor
ImprovingYouth
Posts: 154
Registered: ‎09-21-2012
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Re: Gained 11 years in my Cr Age...

Question about this...

 

Lets say I have a friend that has an AmEx for 10 years. They then add me as an AU. I get backdating for the 10 years right? Then they subsequently drop me from being an AU. I subsequently apply for a AmEx and they will backdate the new card for that 10 years. Correct?

Age: 22 //Cards: Chase Freedom, Chase Amazon Visa, Discover IT, CreditOne, CapOne Quicksilver, CapOne Cash, Walmart, Barclaycard, Citibank BestBuy, NavyFederal Visa Signature cashRewards //AAoA: 1 Year 3 Months (but going down quickly :smileytongue:) //CK:692, Sesame:656
Regular Contributor
VegasKyle
Posts: 184
Registered: ‎02-12-2010
0

Re: Gained 11 years in my Cr Age...

"Question about this...

Lets say I have a friend that has an AmEx for 10 years. They then add me as an AU. I get backdating for the 10 years right? Then they subsequently drop me from being an AU. I subsequently apply for a AmEx and they will backdate the new card for that 10 years. Correct?"

Say your friend was a member since 2000, they add you as an AU in 2010, hey drop you/ close the account in 2011. Now you apply for an AMEX in 2013 it will backdate to 2010, when you became an AU not when the account holder joined.

Starting Score: EQ 599, TU 577
Current Score: EQ 703 9/20/14(HI 741 on 5/13), TU 690 10/1/14 (HI 751 on 5/13), EX 700 10/1/14
Goal Score: 750+


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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Gained 11 years in my Cr Age...

Very nice!!!

Not sure if that would hold up when the auto loan goes on manual review tho.



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Regular Contributor
codesingh
Posts: 245
Registered: ‎12-27-2012
0

Re: Gained 11 years in my Cr Age...


LS2982 wrote:
Very nice!!!

Not sure if that would hold up when the auto loan goes on manual review tho.

LS can you give me some details on what you are thinking about? 

 

If they do a manual review...well the history shows when the account was open and shows all the payments (ok) of each month for the past 2 and 1/2 year (at least in the fako report). 

 

I won't be like the car-loan-lender would have my previous report and they compare with my current and see that Amex although shows opend a decade back in time, is not in the report until a dedade later on the new report...

 

What you thinking on how they would review my app in terms of Amex report on my CR?

 

~ 100k in Rev CC. 15k Credit Line. 16.5k Car Loan(@1.7%) Starting scores: 690 EQ (Dec 2012) Mid-year FICO scores April ‘13 Pulled by lenders(Barclays, Amex): TU 747 • EQ 752 • EX 746 • Scores As of Nov 2013: 740 and above across the board.
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Gained 11 years in my Cr Age...


codesingh wrote:

LS2982 wrote:
Very nice!!!

Not sure if that would hold up when the auto loan goes on manual review tho.

LS can you give me some details on what you are thinking about? 

 

If they do a manual review...well the history shows when the account was open and shows all the payments (ok) of each month for the past 2 and 1/2 year (at least in the fako report). 

 

I won't be like the car-loan-lender would have my previous report and they compare with my current and see that Amex although shows opend a decade back in time, is not in the report until a dedade later on the new report...

 

What you thinking on how they would review my app in terms of Amex report on my CR?

 


They will see when it was opened as far as the backdate but they can see how many payments has been made to the account and figure out its just backdating. I'm sure the big lenders out there know about AMEX backdating.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
dddfresh
Posts: 391
Registered: ‎01-11-2013
0

Re: Gained 11 years in my Cr Age...

That's amazing. LS, if you apply for an auto loan and the amex backdating made their score good enough to get approved, do they always do a manual review, or are you talking if the approval is border line then they would manually review it?

9/2013: Fico EQ 676, EXP 686, Fico TU 686.
NFCU Flagship Sig. $14k..NFCU CashRwdsSig $14k..NFCU LOC $12.5k..USAA Amex 4k..AMEX Green NPSL..Discover IT $1.5k...BofA Cash Rewards123 $2.5k...Southwest Premier $2k..Chase Freedom $1.5k..CareCredit $3.5k..Cap1-$1.5k..HSBC $300...Lowes $1.5k...WalMart $1.5k...JCP $1k..Chevron $1.1k..Kays/Jerrod - $5k split. around 8% Util. Want to get in the 700's in 2013! Have three old paid charge offs. 15-20inq.. LAST APP 8/29/13
Super Contributor
enharu
Posts: 6,984
Registered: ‎02-27-2013
0

Re: Gained 11 years in my Cr Age...

Almost all of the auto installment loans are manually reviewed, at least for prime banks and financing arm of auto manufacturers. How in depth and how much details they want to dig up though varies.
Mortgages are always manually reviewed as well.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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