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Registered: ‎11-19-2009
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Two Part Question on AMEX Backdating

1. So I just got approved for an AMEX Green card. I also have another "amex" card-it was originally an MBNA card until BOA bought it out. It's an "alumni" card that I got in college as my first credit card because you got a free pizza for applying. I have had it since '05. It is my oldest credit item. So is the BOA AMEX card an AMEX card that would be backdated to? Does that make sense? Or would it have be another actual AMEX card and not one through a another party issuer? I actually plan on closing the BOA account this month because I got informed by BOA that they are adding a $65 annual fee to this card that has never had one.

 

2. Why is backdating important? Actually, importance is subjective. So is usefulness, but to a lesser extent I do believe. So, Why is backdating useful? If the card I just got approved to last night gets backdated to '05 will this mean undertaking this exciting new financial venture of being an American Express card carrier not going to hurt my AAoA?


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Re: Two Part Question on AMEX Backdating

 


joseu wrote:

1. So I just got approved for an AMEX Green card. I also have another "amex" card-it was originally an MBNA card until BOA bought it out. It's an "alumni" card that I got in college as my first credit card because you got a free pizza for applying. I have had it since '05. It is my oldest credit item. So is the BOA AMEX card an AMEX card that would be backdated to? Does that make sense? Or would it have be another actual AMEX card and not one through a another party issuer? I actually plan on closing the BOA account this month because I got informed by BOA that they are adding a $65 annual fee to this card that has never had one.

 

2. Why is backdating important? Actually, importance is subjective. So is usefulness, but to a lesser extent I do believe. So, Why is backdating useful? If the card I just got approved to last night gets backdated to '05 will this mean undertaking this exciting new financial venture of being an American Express card carrier not going to hurt my AAoA?


 

1. It has to be an actual card issued by Amex (bank). What you had was a Amex branded card issued by BofA so backdating doesn't apply.

 

2. Backdating helps you in 2 ways, FIrst it saves your credit from getting a ding for new accounts, secondly it increases your AAoA (so if your card was to backdate, it will show as if you had this card for 6 years now).

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Re: Two Part Question on AMEX Backdating

well that sucks I suppose but it is what I assumed the answer to be. Thanks for the quick clarification.

 

Anyone know why after not having an annual fee on a card for six years they would stick an annual fee on there now? I did have three missed payments on that card but the most recent one was two years ago. my credit score has risen since then, not greatly, but slow and steady like a old yet reliable steed you can't yet bear to put down.


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Re: Two Part Question on AMEX Backdating

[ Edited ]

 


joseu wrote:

well that sucks I suppose but it is what I assumed the answer to be. Thanks for the quick clarification.

 

Anyone know why after not having an annual fee on a card for six years they would stick an annual fee on there now? I did have three missed payments on that card but the most recent one was two years ago. my credit score has risen since then, not greatly, but slow and steady like a old yet reliable steed you can't yet bear to put down.


Right there is your answer.  BofA is conducting an experiment per say, reviewing accounts that have been/are in bad standing and tacking on this fee.  It's there nice way of saying "UP YOURS!".

 

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