topic Re: Question about Amex cards in Credit Cards

Question about Amex cards

Viper786 — Wed, 22 Feb 2012 18:12:30 GMT

I have an American Express Zync that I got back in April of 2011 and one of my friends were telling me that if I were to ever get another American Express card in the future, they report it to the credit bureaus as being opened in April in 2011.

Is this true? Does American Express back date any new cards to the date of the first Amex card?

Re: Question about Amex cards

Anonymous — Wed, 22 Feb 2012 18:15:17 GMT

Yes, search AMEX Backdating theres a ton of info.

But to answer your questions subsequent AMEX cards will be open the month you appled and the year of your 1st card.

So if your 1st card was 4/11 and you open a second card 3/12 that should be backdated to 3/11

Re: Question about Amex cards

Creditdreamer — Wed, 22 Feb 2012 18:16:20 GMT

Yes. One of the reasons Amex is such a good company to get in with. If you have the card for 20 years and need to add age to your accounts, you can just get another Amex and get another 20 years of history. Pretty awesome.

Re: Question about Amex cards

Viper786 — Wed, 22 Feb 2012 18:17:28 GMT

That's pretty awesome! Thanks for the info! I currently have 6 hard inquiries so I wont be applying for another card for at least another year when 3 of them drop off.

Re: Question about Amex cards

Creditdreamer — Wed, 22 Feb 2012 18:25:59 GMT

From what I've heard (just FYI), if you get denied for another Amex, it's only a soft pull and they'll only do a hard pull if you're approved for the new card.

Re: Question about Amex cards

Viper786 — Wed, 22 Feb 2012 18:30:42 GMT

Sorry, just so I understand better, are you saying that if I apply today and dont get approved, it will be a soft pull?

but if I get approved it will be a hard?

Re: Question about Amex cards

pizzadude — Wed, 22 Feb 2012 18:59:23 GMT

@Viper786 wrote:
Sorry, just so I understand better, are you saying that if I apply today and dont get approved, it will be a soft pull?

but if I get approved it will be a hard?

Yes that is correct, at least that is how it worked for me, and others have reported similar experience.

Re: Question about Amex cards

Creditdreamer — Wed, 22 Feb 2012 18:59:35 GMT

I cannot say from experience but I've read a ton of Amex posts and that is what everyone has said. Maybe search some recent Amex posts just to be sure since none of the experts are chiming in. As far as I understand it though, it will be a soft pull if denial and hard pull if approved.

Re: Question about Amex cards

Creditdreamer — Wed, 22 Feb 2012 19:00:47 GMT

@ pizzadude: Thanks for confirming. Was hoping someone would come in.

Re: Question about Amex cards

Anonymous — Wed, 22 Feb 2012 19:14:44 GMT

Amex has some pretty customer friendly policies:

1. Backdating new cards (already mentioned)

2. For existing cardmembers: if a new app doesn't get approved its a soft inquiry, only hard if its approved (already mentioned)

3. Requests for credit line increases are always soft, regardless if its approved or not

4. For anyone: 2 apps submitted on the same day usually results in just 1 credit pull. Although some people have reported otherwise and there are various factors that come into play, e.g. Costco Amex requires verification of Costco membership which delays approval likely causing a 2nd pull if an earlier one was done that day.

5. Can easily product change to a variety of cards (upgrade or downgrade) based on spending and benefit needs over time.

6. Can easily move (consolidate) credit lines between cards over 13 months old.

7. Every card comes with purchase protection, return protection, extended warranty, car rental insurance, etc. even the ones with no AF.

I realize some of these things can be found with other banks/non-Amex cards too. But its the fact that you get all of them that makes Amex special in the eyes of many.