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No more AMEX backdating?-UPDATE

Senior Contributor

Re: No more AMEX backdating?-UPDATE

@Holly,

The future holds what Ella and Bing sang about, "Blue skies". Smiley Happy

Know what's even better? ..... Wait for it..... It will not show up as a new account!

Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Message 31 of 69
Member

Re: No more AMEX backdating?-UPDATE

Oh, Ella and Bing...I can hear them now...Smiley Happy

I'm very grateful to AMEX. They've gained a very loyal customer!

Message 32 of 69
Valued Contributor

Re: No more AMEX backdating?-UPDATE

It hasn't been discussed in this thread, but it should be noted that if you look closely at the account history on your credit reports for AMEX accounts, you'll see that on TU and EX, the little green "OK" boxes only go back as far as when the account was opened.  EQ (through their website) shows years and years ( to the backdated date) of "OK" boxes.  Any lender doing a manual review will see the limited AMEX history on EX and TU even though the opening date may be decades ago.  EQ, on the other hand, would show a full acount history since the membership date.  

 

So, AMEX backdating is really only beneficial with computer generated application approvals.   I don't think many underwriters will look that deep on manual review, but if they do, and they understand all this, it might make a difference in their decision.  

EQ Fico 8 - 846
TU Fico 8 - 848
EX Fico 8 - 836
Message 33 of 69
Senior Contributor

Re: No more AMEX backdating?-UPDATE

@ Android,

 

I fully agree that manual review reveals all. The likely look at everything but how aspects are factored in likely comes down to underwriting standards. If a card is dated to 1958 but has no history, it'll stand out upon manual review. I feel the same way about 12 new accounts in one year and no inquiries, LOL!

 

Supposedly; FICO 08 doesn't include AUs. On the Mortgage forum, I recently read a thread where someone (with no history of their own) was asked to remove themselves as AU on 3 cards. No idea how it worked out, saw something shiny and forgot to check back, LOL!


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


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Message 34 of 69
Frequent Contributor

Re: No more AMEX backdating?-UPDATE


android01 wrote:

It hasn't been discussed in this thread, but it should be noted that if you look closely at the account history on your credit reports for AMEX accounts, you'll see that on TU and EX, the little green "OK" boxes only go back as far as when the account was opened.  EQ (through their website) shows years and years ( to the backdated date) of "OK" boxes.  Any lender doing a manual review will see the limited AMEX history on EX and TU even though the opening date may be decades ago.  EQ, on the other hand, would show a full acount history since the membership date.  

 

So, AMEX backdating is really only beneficial with computer generated application approvals.   I don't think many underwriters will look that deep on manual review, but if they do, and they understand all this, it might make a difference in their decision.  


I have noticed this with not only my backdated Amex accounts but my BOA Visa. When I converted it to a reward card, and then again when the card was reported stolen the card was dated with the original open date but without the complete history. Thus, I am not sure that upon a manual review someone would necessarily come to the conclusion that an account was backdated. The next question is: would they really care? This affect is only temporary, once the account is past two years it will look just like any other two year or older account.

________________________________________________________________________________
Message 35 of 69
Valued Contributor

Re: No more AMEX backdating?-UPDATE


OhioCPA wrote:

android01 wrote:

It hasn't been discussed in this thread, but it should be noted that if you look closely at the account history on your credit reports for AMEX accounts, you'll see that on TU and EX, the little green "OK" boxes only go back as far as when the account was opened.  EQ (through their website) shows years and years ( to the backdated date) of "OK" boxes.  Any lender doing a manual review will see the limited AMEX history on EX and TU even though the opening date may be decades ago.  EQ, on the other hand, would show a full acount history since the membership date.  

 

So, AMEX backdating is really only beneficial with computer generated application approvals.   I don't think many underwriters will look that deep on manual review, but if they do, and they understand all this, it might make a difference in their decision.  


I have noticed this with not only my backdated Amex accounts but my BOA Visa. When I converted it to a reward card, and then again when the card was reported stolen the card was dated with the original open date but without the complete history. Thus, I am not sure that upon a manual review someone would necessarily come to the conclusion that an account was backdated. The next question is: would they really care? This affect is only temporary, once the account is past two years it will look just like any other two year or older account.


I understand what you're saying, and I'd be pretty upset if one of my Amex accounts that are legitimately 26 years old and they gave me a new number with new history, even with the same opening date. I'd be really upset having to trade 26 years of history for 2 years.    

EQ Fico 8 - 846
TU Fico 8 - 848
EX Fico 8 - 836
Message 36 of 69
Member

Re: No more AMEX backdating?-UPDATE

Yes, I understand that I won't be gaining any payment history where none exists, and that backdating is mainly beneficial for the boost to AAoA only. I don't believe backdating is unethical or misleading to my future creditors because they won't be fooled as there is clearly no payment history reporting during the gap between cards.
Message 37 of 69
Moderator

Re: No more AMEX backdating?-UPDATE


HollyDay wrote:
Yes, I understand that I won't be gaining any payment history where none exists, and that backdating is mainly beneficial for the boost to AAoA only. I don't believe backdating is unethical or misleading to my future creditors because they won't be fooled as there is clearly no payment history reporting during the gap between cards.

Ugh, my apologies, we severely side-tracked your thread.  Our random debate about backdating and the industry wasn't a negative aimed at you in any, way, shape or form.  Personally, I fully intend to leverage what limited amount of backdating I can in the future with Amex, and there's nothing unethical about your or my coloring inside the lines which Amex has setup.  

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 38 of 69
Moderator Emeritus

Re: No more AMEX backdating?-UPDATE


HollyDay wrote:

Another update: I just signed in to my account online, and it now reads "Thank you for being a Cardmember since 1999." I won't celebrate until the card starts reporting and 1999 is listed in my credit report, though.

Sidenote: I've enjoyed reading the discussion that has ensued about AMEX's backdating policy. It will be interesting to see what the future holds!


 

Congrats! If the website has the corrected date, you should be in good shape. Keeping fingers crossed for you on the credit reports; please let us know.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
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Message 39 of 69
Frequent Contributor

Re: No more AMEX backdating?-UPDATE

Same thing happened to me. I have been an authorized user since 1998 (still am) and they put me as a new member since 2012 Smiley Mad

So I called the number on the back of the card today and they switched it right away, only took me 7 minutes on the phone with providing all my info (they didn't ask for the old card number). 9-12 business days and I will have my new card with the Member Since 98 on it Smiley Happy

Message 40 of 69