No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@gdale6 wrote:
It is true effective 3/22/15 http://ficoforums.myfico.com/t5/Credit-Cards/Amex-No-Longer-Backdating-to-Credit-Bureau-s/td-p/39076...
Someone had already forwarded me that link, but the post was so long, I didn't read through everything, but all the comments I DID read were people going back and forth saying it was true or they hoped it wasn't true. Have we gotten solid, official verification yet?
@Repairman wrote:
@gdale6 wrote:
It is true effective 3/22/15 http://ficoforums.myfico.com/t5/Credit-Cards/Amex-No-Longer-Backdating-to-Credit-Bureau-s/td-p/39076...
Someone had already forwarded me that link, but the post was so long, I didn't read through everything, but all the comments I DID read were people going back and forth saying it was true or they hoped it wasn't true. Have we gotten solid, official verification yet?
Yes, its been verified multiple times
When I fell behind on my Gold Card I was offered a payment plan and the opportunity to open an Optima Card. I took advantage of the offer and paid the balance in 3 payments over 3 months. The Optima Card was opened with a CLI that was 25% of my Gold Card LOC limit. I subsequently GW'd the Gold Card baddie off my CR's and opened an AMEX Delta Skymiles card while still retaining my Optima card. All of this has occurred over a 2 year time period.
@tomfromrictmame wrote:When I fell behind on my Gold Card I was offered a payment plan and the opportunity to open an Optima Card. I took advantage of the offer and paid the balance in 3 payments over 3 months. The Optima Card was opened with a CLI that was 25% of my Gold Card LOC limit. I subsequently GW'd the Gold Card baddie off my CR's and opened an AMEX Delta Skymiles card while still retaining my Optima card. All of this has occurred over a 2 year time period.
How far did you "fall behind?" And how long ago was it that you were successfully able to GW? I'm curious, since they would not GW any deletions for me, though she sounded genuinely sympathetic. Also, is there any particular reason you decided to keep the optima in addition to your AMEX Delta? And what were your scores like when you got the Delta approval?
I was 90 days late on my Gold Card and had a balance of ~$4,500. I paid $1,500/mo and in return had the Optima opened with a $1,500 limit. I paid the original balance Oct '11, opened the Optima in Nov '11 and the GW was granted in Mar '13. I opened the current AMEX in Aug '14 and my scores were approximately what you see in my signature. I keep the Optima Card open because that gives me 2 cards with MSD of 1981.
@tomfromrictmame wrote:I was 90 days late on my Gold Card and had a balance of ~$4,500. I paid $1,500/mo and in return had the Optima opened with a $1,500 limit. I paid the original balance Oct '11, opened the Optima in Nov '11 and the GW was granted in Mar '13. I opened the current AMEX in Aug '14 and my scores were approximately what you see in my signature. I keep the Optima Card open because that gives me 2 cards with MSD of 1981.
Oh, ok, so your GW was about 2 years after your derog...I tried shortly after paying my derog. Also, your approval was almost another year after your Optima was opened. Maybe I'll try for another GW in a year or 2. Out of curiosity, did you ever inquire about Product changing your Optima? I'd like to keep the date on that card too, but am not crazy about continuing to pay the Annual Fee.
Actually I opened my current AMEX ~3 years after my Optima card was opened. They won't do a product change for the Optima. Also, I have seen may people who have had to close the Optima before being able to open (with a new application, nothing guaranteed) a new AMEX. I feel luck in that regard. 2 cards with MSD of 1981 is huge for me and I'll gladly pay the annual fee. YMMV,
@tomfromrictmame wrote:2 cards with MSD of 1981 is huge for me and I'll gladly pay the annual fee. YMMV,
I hear what you're saying. I have a BOA card dated from 1997. I talked about it in other posts, how BOA has seriously done me wrong by reducing my cl from $5000 to $700 after I PIF my $4800 balance, and they added a $59 Annual Fee. Their reason was my lates with AMEX. Yet AMEX is even giving me a higher cl than that. And BOA wont help me at all and just suggest I apply for another card.
I didn't want to cancel the card because of it's date, but others on this board advised me just close it since it won't affect my AAOA for 10 years. What's your opinion on that?
@tomfromrictmame wrote:Actually I opened my current AMEX ~3 years after my Optima card was opened.
Also, did you receive any communication from them after a year in the program? Did they acknowledge your credit improvement? Success with the card? Offer you to apply for others? Automatic increase your CL?
@Repairman wrote:
@tomfromrictmame wrote:2 cards with MSD of 1981 is huge for me and I'll gladly pay the annual fee. YMMV,
I hear what you're saying. I have a BOA card dated from 1997. I talked about it in other posts, how BOA has seriously done me wrong by reducing my cl from $5000 to $700 after I PIF my $4800 balance, and they added a $59 Annual Fee. Their reason was my lates with AMEX. Yet AMEX is even giving me a higher cl than that. And BOA wont help me at all and just suggest I apply for another card.
I didn't want to cancel the card because of it's date, but others on this board advised me just close it since it won't affect my AAOA for 10 years. What's your opinion on that?
Personally, I wouldn't close a card unless it was from a second tier bank. While I have issues withBofA myself, keeping it open at least gives you a chance of increasing the CL in the future.