topic Re: New AMEX card but no score ding in Credit Cards

New AMEX card but no score ding

Imhotrodcrazy — Thu, 09 Feb 2012 20:51:47 GMT

Well my new AMEX BCE card is finally showing up on all of my reports and there is no damage to my scores. My TU score actually went up 1 point to 729 and EQ is the same at 709, which is where it has been for about a year. Anyway, I thought it was strange that I didn't take a hit for the new card. Just thought I would share this with all of the number crunchers out there.

Re: New AMEX card but no score ding

CS800 — Thu, 09 Feb 2012 20:53:48 GMT

Is that your first AMEX?

No backdating?

Re: New AMEX card but no score ding

Imhotrodcrazy — Thu, 09 Feb 2012 20:56:32 GMT

@CS800 wrote:
Is that your first AMEX?

No backdating?

Yes, this is my first AMEX.

Re: New AMEX card but no score ding

CS800 — Thu, 09 Feb 2012 21:01:25 GMT

You might get ding if your AAoA goes down, your Util goes up.

So even with it reporting (reduce util , lower AAoA) no change huh?

How many inqs do you have on EX?

Re: New AMEX card but no score ding

BobbyJ — Thu, 09 Feb 2012 21:10:35 GMT

How long did it take for your BCE to report to the CRAs? I opened my Amex PR Gold and Zync on 1/6/12 and they are still not reporting. Just curious of the time frame for reporting.

Re: New AMEX card but no score ding

nada9188 — Thu, 09 Feb 2012 21:13:18 GMT

Same here.. My reported with an open date of 12/1/11 last month and my scores did not change at all!

I thought this was slightly weird. First amex card, no backdating.

Re: New AMEX card but no score ding

tntexans72 — Thu, 09 Feb 2012 21:18:52 GMT

I would wait a couple of months before celebrating. I apped for a Bcp 11/2011. When my report hit in Jan 2012, Bammed...dropped about 20pts cause Length of credit history (AAoA) and New Credit = 25% of your score total.

Re: New AMEX card but no score ding

nada9188 — Thu, 09 Feb 2012 21:21:48 GMT

@tntexans72 wrote:
I would wait a couple of months before celebrating. I apped for a Bcp 11/2011. When my report hit in Jan 2012, Bammed...dropped about 20pts cause Length of credit history (AAoA) and New Credit = 25% of your score total.

I see where you are coming from, but since ours have already reported as well why didn't our scores drop?

Do you have any other new accounts tnt? My AAoA was only 1.5 yrs when getting this card so perhaps mine didn't have much room to go down?

Re: New AMEX card but no score ding

tntexans72 — Thu, 09 Feb 2012 21:23:44 GMT

I am no expert in Fico scoring formula but the % #s are there.

My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.

Re: New AMEX card but no score ding

Anonymous — Thu, 09 Feb 2012 21:26:07 GMT

I was approved for the PRG on the 13th and Costco on the 23th and both were back dated to 1998. Amex reported both on EQ and TU this morning but not EX yet. No ding on EQ and 4 points increased on TU now at 700..I am very happy, finally at the 700 mark. Hopefully I won't get ding when Chase reports the Disney card..

See you guys at the garden....

Re: New AMEX card but no score ding

Anonymous — Thu, 09 Feb 2012 21:27:30 GMT

@tntexans72 wrote:
I am no expert in Fico scoring formula but the % #s are there.
My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.

No change aside from the new card?

Re: New AMEX card but no score ding

nada9188 — Thu, 09 Feb 2012 21:27:30 GMT

Thats crazy.. Which source are your scores from? Mine are from the AMEX credit monitoring services.. Haven't really head how reliable it is.

@tntexans72 wrote:
I am no expert in Fico scoring formula but the % #s are there.
My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.

Re: New AMEX card but no score ding

tntexans72 — Thu, 09 Feb 2012 21:32:39 GMT

@Anonymous wrote:
@tntexans72 wrote:
I am no expert in Fico scoring formula but the % #s are there.
My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.
No change aside from the new card?

That's my EX score. I have a total of 3 hard IQs on my EX report....2 from Amex in 2011 (April/Nov) and that's it. I got punished big time

But than again...YMMV.....my util is around 35% right now. I am sure if I get that down to under 10%...my score will jump back up.

Re: New AMEX card but no score ding

tntexans72 — Thu, 09 Feb 2012 21:37:42 GMT

@nada9188 wrote:
Thats crazy.. Which source are your scores from? Mine are from the AMEX credit monitoring services.. Haven't really head how reliable it is.
@tntexans72 wrote:
I am no expert in Fico scoring formula but the % #s are there.
My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.

Amex gave me my EX fico with the approval letter. I've been keeping track of my score through myfico for EQ/TU and Credit Secured from Amex....their credit secured scoring model are within 10pts of the actual EX fico score. At the time of approval...my EX credit secured score through Amex was 747...when they sent me my EX fico, it was 755. Now...my EX credit secured score is 718 so I am thinking my EX fico is still around 720ish.

Re: New AMEX card but no score ding

Anonymous — Thu, 09 Feb 2012 21:54:42 GMT

It seems like AMEX is a coveted card. Why is that? When I compare their terms to other cards, they don't seem that great. Yet, it seems tough to get approved by them. I have not been able to get an AMEX card yet.

I recently added a handful of credit cards to my score and it went from 702 to 711. I assumed I received an increase rather than a ding because this brought my credit-to-debt ratio down.

Re: New AMEX card but no score ding

Imhotrodcrazy — Thu, 09 Feb 2012 21:56:40 GMT

@CS800 wrote:
You might get ding if your AAoA goes down, your Util goes up.

So even with it reporting (reduce util , lower AAoA) no change huh?

How many inqs do you have on EX?

My aaoa is 7 yrs on TU and 5 yrs on EQ. EQ deleted 2 accts with a total of 24 yrs of history. They still show up on TU.

My util is <1%

I only have one inquiry on EX, none on TU and EQ

Re: New AMEX card but no score ding

Anonymous — Thu, 09 Feb 2012 21:57:06 GMT

@tntexans72 wrote:
@Anonymous wrote:
@tntexans72 wrote:
I am no expert in Fico scoring formula but the % #s are there.
My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.
No change aside from the new card?

That's my EX score. I have a total of 3 hard IQs on my EX report....2 from Amex in 2011 (April/Nov) and that's it. I got punished big time
But than again...YMMV.....my util is around 35% right now. I am sure if I get that down to under 10%...my score will jump back up.

You can't really compare FICO to Plus or some other non-FICO for a change like that.

As far as being coveted goes: Amex, is Amex.

Re: New AMEX card but no score ding

Imhotrodcrazy — Thu, 09 Feb 2012 21:57:33 GMT

@BobbyJ wrote:
How long did it take for your BCE to report to the CRAs? I opened my Amex PR Gold and Zync on 1/6/12 and they are still not reporting. Just curious of the time frame for reporting.

It took 2 months for it to show on all reports

Re: New AMEX card but no score ding

tntexans72 — Thu, 09 Feb 2012 21:57:48 GMT

@Imhotrodcrazy wrote:
@CS800 wrote:
You might get ding if your AAoA goes down, your Util goes up.

So even with it reporting (reduce util , lower AAoA) no change huh?

How many inqs do you have on EX?
My aaoa is 7 yrs on TU and 5 yrs on EQ. EQ deleted 2 accts with a total of 24 yrs of history. They still show up on TU.
My util is <1%
I only have one inquiry on EX, none on TU and EQ

That's very solid.

Re: New AMEX card but no score ding

tntexans72 — Thu, 09 Feb 2012 22:09:05 GMT

@Anonymous wrote:
@tntexans72 wrote:
@Anonymous wrote:
@tntexans72 wrote:
I am no expert in Fico scoring formula but the % #s are there.
My AAoA is 5.5yrs...I went from 747 -----> 718 is the exact figure today.
No change aside from the new card?

That's my EX score. I have a total of 3 hard IQs on my EX report....2 from Amex in 2011 (April/Nov) and that's it. I got punished big time
But than again...YMMV.....my util is around 35% right now. I am sure if I get that down to under 10%...my score will jump back up.
You can't really compare FICO to Plus or some other non-FICO for a change like that.

As far as being coveted goes: Amex, is Amex.

You are correct...but because Amex gave me my EX Fico, I have a general idea where my EX Fico stand based on the infor I received from EX Plus score. And that # is around 10pts of each other.

But at the end of the day...I am not throughly concern at all regarding my Fico score...what's important to me is Util %, AAoA and my income along with Fico scoring. They all play a key role for me. I can have a high Fico score but short AAoA and High Util % = declined or approved for a low CL, etc.....