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no prob. i just meant "throwing under the bus" about my new card that is only in my name which could be considered "coy". I was totally honest about the first card, because In 2000, I was 14 years old and it clearly says AU on my credit report. I guess I should chalk this up to be an inexperience UW and move on. I was just curious to see what kind of limit they would offer me since it was a new credit union and they were using the same HP it was no harm done. I will now know what to say if this is ever an issue in the future. for now, the garden is begging for my attention.
If this really is a small credit union I don't see how the underwriter would be inexperienced. Most likely they have never seen it before and even if they have, it wasn't for someone who was under 18 at the time. Most people who are backdated hae it backdated to a time they were over 18 and may not experience it. If the account reports like it was opened years ago, how is an underwriter supposed to know that it wasnt? I reckon most people who have the "benefit" of it don't even know about it.
Here's some stuff you may be interested in reading, such as the minimum Amex AU age.
How early can I add my kids as AUs?
http://ficoforums.myfico.com/t5/Credit-Cards/How-early-can-I-add-my-kids-as-AUs/m-p/2406245#M681410
Making Your Child an Authorized User on Your Credit Card
http://credit.about.com/od/toughcreditissues/qt/Making-Your-Child-An-Authorized-User-On-Your-Credit-...
When all is said and done, building credit involves using credit responsibly and having an income.
And being forthright of course.
@youngandcreditwrthy wrote:
The underwriter probably just isn't as experienced as we are lol...
Just hit em up and tell em
OTOH, that's their JOB, this is just our entertainment.
I'd bet 99% of underwriters know about Amex backdating.
That said, an Amex account is generally looked at very positively by underwriters.
@cashnocredit wrote:
That said, an Amex account is generally looked at very positively by underwriters.
I see this said a lot and I am not sure where it comes from. American Express is not that difficult to obtain, so it's not like it's any indicator of financial wellness or future payment performance.
@navigatethis12 wrote:
@cashnocredit wrote:
That said, an Amex account is generally looked at very positively by underwriters.
I see this said a lot and I am not sure where it comes from. American Express is not that difficult to obtain, so it's not like it's any indicator of financial wellness or future payment performance.
This is true to an extent. I think it is looked at like Citi or Chase rather than, say, a 500CL Cap One. Amex turned me down for a charge card with a 710 FICO and I had a 25k Citi card at the time and was running a util of 5%. Amex is more picky than others if you have PRs, even old ones, which I think was my problem (paid lien).
Any particular reason why you chose to stick with this Credit Union.. If they can't understand this simple situation, I'd take my business to someone who does...
@cashnocredit wrote:This is true to an extent. I think it is looked at like Citi or Chase rather than, say, a 500CL Cap One. Amex turned me down for a charge card with a 710 FICO and I had a 25k Citi card at the time and was running a util of 5%. Amex is more picky than others if you have PRs, even old ones, which I think was my problem (paid lien).
Well American Express has granted me the lowest limits, even though I have nothing wrong the any reports.
@youngandcreditwrthy wrote:
Amex is higher up on the credit-chain. It took me like 5 years to get one, but once you're in, you're in!
"Blah blah blah membership"
As the commercial goes.
When I've reconned in the last, I always point out my huge Amex cl- Analysts always seem to go for that. Lol
Amex has to be handled properly as well.
NEVER make the min pmt. pay at least 10-20% of your balance, if not pif. They have some pretty bomb offers too...
Well I applied with 18 months of history and they gave me 10,000, so that doesn't seem very hard to me. No other analyst has hesitated in granting high limits even though American Express has given me 1000 and 6000. I just think the statement that analysts are going to try to get your business because you have an American Express card is not true. In my experience, it has had no influence on approvals at all.