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I recently obtained a Zync American Express and was successful in backdating the card to 1991. I have opened quite a few credit cards in the past several months which has decreased my average age of accounts to around 5 years. I would eventually like to obtain an American Express revolving card (in addition to the charge card I currently have) and have that backdated as well to increase by account age. Can anyone give me some insight as to when would be a good time to apply for a second card with them (6 months, a year, etc.) and their approximate scores, etc. when approved. I am thinking of the Blue Everyday Cash card (I think that's what it's called lol). Thanks so much for your help!
@Laura2323 wrote:I recently obtained a Zync American Express and was successful in backdating the card to 1991. I have opened quite a few credit cards in the past several months which has decreased my average age of accounts to around 5 years. I would eventually like to obtain an American Express revolving card (in addition to the charge card I currently have) and have that backdated as well to increase by account age. Can anyone give me some insight as to when would be a good time to apply for a second card with them (6 months, a year, etc.) and their approximate scores, etc. when approved. I am thinking of the Blue Everyday Cash card (I think that's what it's called lol). Thanks so much for your help!
What is your EX FICO score? I think you can apply anytime and still get approved if you have a high score. You AA0As are still great. Since you've been a member since 1991, you shouldn't have any problems getting approved for a revolving card with AMEX.
My EX score is 626 right now - it has decreased due to inquiries, new accounts, etc. I really think my score has just taken a beating because of the new credit. I went a little over bored with the apps! I was very excited when I opened the new Amex a couple of months ago because of the backdating.
@Laura2323 wrote:My EX score is 626 right now - it has decreased due to inquiries, new accounts, etc. I really think my score has just taken a beating because of the new credit. I went a little over bored with the apps! I was very excited when I opened the new Amex a couple of months ago because of the backdating.
If you're carrying balances on your cards then you for sure want to wait. I don't think the new accounts hurt you much since your AAoAs are still high(5years). Maybe the inquries caused more than a few dings. If you have balances, I think that'd be a problem.
You'll want to make sure you've got low balances (like <15%) on your cards. With a 626, IMHO, thats too low for an Amex revolver. They are much harder to get than the charge. What else is on your reports?
I think I will wait a bit for my score to rebound from the apps, etc. I have another post on here that outlines what my balances are and what cards I have. I can't really complain too badly about my score at this point, especially given that I was approved for a Chase Freedom, Discover More and an Amex recently with a shortsale on my credit from less than a year ago. My score is actually higher now than when I bought my house lol. I guess I just need to "garden" for a bit and then once some inquiries drop off and my revolving balances are at less than 15% or so, I will give it a shot. I finally got the hang of paying my bills in full BEFORE the reporting date so that will also help lol! Thanks for your insight.