topic Re: 01/01/13 Who is apping for Amex? What is your profile? in Credit Cards

01/01/13 Who is apping for Amex? What is your profile?

armbenderc — Tue, 01 Jan 2013 00:12:58 GMT

I'm going for BCE.

Scores are on my sig.

I got Amex Green in 10/12

No baddie, aaoa is 3.0 years

Massive INQ from trading in my old car and got a toy (vette) back in March '11 and May '12

I hope Amex will give me some loving.

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 00:19:34 GMT

Why BCE? Don't understand the love for this particular card!

For enough grocery spending, BCP is better, and gives more on gas and department stores, I know the fee puts people off.

PenFed Platinum rewards gives 5% off gas, same 3% off groceries and is uncapped for those rewards. No AF

Fidelity Amex or Priceline Visa give a flat 2%, so if the grocery spend isn't that big (and if it is the first two cards are better!) these will come out ahead.

Re: 01/01/13 Who is apping for Amex? What is your profile?

armbenderc — Tue, 01 Jan 2013 00:24:10 GMT

@Anonymous wrote:
Why BCE? Don't understand the love for this particular card!

For enough grocery spending, BCP is better, and gives more on gas and department stores, I know the fee puts people off.
PenFed Platinum rewards gives 5% off gas, same 3% off groceries and is uncapped for those rewards. No AF
Fidelity Amex or Priceline Visa give a flat 2%, so if the grocery spend isn't that big (and if it is the first two cards are better!) these will come out ahead.

I am still undecided on BCE/P, I think BCE is a tad easier to get approve. With my spending, I should be getting BCP, I just want to get approve as I can PC later.

Re: 01/01/13 Who is apping for Amex? What is your profile?

09Lexie — Tue, 01 Jan 2013 00:35:13 GMT

I want to so badly but I think I will continue to garden.

Current scores are in my siggy.

Inq: TU- 8); EX -6 ; EQ-6 (4 are from a car purchase in Apr)

Baddies: 1 sm coll acct for $380 on all 3 CR- falls off in March; Dismissed CH 13 filed in 2005 on EQ

Length of oldest account: 28 yrs

AAOA: 7 yrs

Income: $72,500

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 00:38:56 GMT

@armbenderc wrote:
@Anonymous wrote:
Why BCE? Don't understand the love for this particular card!

For enough grocery spending, BCP is better, and gives more on gas and department stores, I know the fee puts people off.
PenFed Platinum rewards gives 5% off gas, same 3% off groceries and is uncapped for those rewards. No AF
Fidelity Amex or Priceline Visa give a flat 2%, so if the grocery spend isn't that big (and if it is the first two cards are better!) these will come out ahead.
I am still undecided on BCE/P, I think BCE is a tad easier to get approve. With my spending, I should be getting BCP, I just want to get approve as I can PC later.

then apply for BCP, the BCE is not easier to get, they are the same.

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 01:22:07 GMT

IM almost 100 percent sure you wont get a year backdated..so if you got it in october..your new card will only show as being 3 months old..not a whole year

Amex Backdating

Anonymous — Tue, 01 Jan 2013 01:23:57 GMT

If you got a card in december and then apply tommorow..does that mean your new card is a year old..I thought it would still show a month as a month old regardless of thew year it says on the card. KInd of doesnt make sense

Re: 01/01/13 Who is apping for Amex? What is your profile?

jamesdwi — Tue, 01 Jan 2013 01:23:53 GMT

scores seems fine should be in for the card, the only question is why is your score so low... with an AAoA of 3 years and no baddies, I would think they would be higher perhaps 740+ range, is your UTL high? a lot of new credit in the last 6 months or something?

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 01:25:22 GMT

@Anonymous wrote:
Why BCE? Don't understand the love for this particular card!

For me, it was just to finally have an Amex card (and thus have one card on each major network). If you don't travel (and don't care for MR points), the BCE makes the best sense as a no-AF, cash-earning Amex product. The glamor has definitely worn off though -- with the exception of Small Business Saturday, I haven't used mine since cashing out the sign-up bonus.

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 01:29:03 GMT

@Anonymous wrote:
IM almost 100 percent sure you wont get a year backdated..so if you got it in october..your new card will only show as being 3 months old..not a whole year

I thought the "rule" was it took the year of the old card, and the month of the new one, so a Jan app would be backdated to Jan 2012, regardless of the month of the old card. That's what happened with me (Feb 2012 backdated to Feb 1987). Have you experienced/heard something else?

Re: 01/01/13 Who is apping for Amex? What is your profile?

nicholasyud — Tue, 01 Jan 2013 01:29:53 GMT

@Anonymous wrote:
IM almost 100 percent sure you wont get a year backdated..so if you got it in october..your new card will only show as being 3 months old..not a whole year

yeah more explain please......did you know something that we dont ????

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 01:31:41 GMT

As far as I know it will show the year and month of the backdate but as far as the calculation of the aoaa..it will only show the backdate to the original card..so like if you applied for a card in december and now will apply tommorow..it will show the 2012 on new card but the aoaa will use the 1 month that it actually aged.

I could be wrong but thats what ive read

Re: 01/01/13 Who is apping for Amex? What is your profile?

armbenderc — Tue, 01 Jan 2013 01:42:43 GMT

Yup. I got 3 new lines. Util is 9% reporting on one card.

Re: 01/01/13 Who is apping for Amex? What is your profile?

armbenderc — Tue, 01 Jan 2013 01:44:26 GMT

The new card will be date at 1 / 12.
Member at 2012 and 1 is month you apply. I get one year.

Re: 01/01/13 Who is apping for Amex? What is your profile?

jamesdwi — Tue, 01 Jan 2013 01:49:15 GMT

@armbenderc wrote:
The new card will be date at 1 / 12.
Member at 2012 and 1 is month you apply. I get one year.

got my AMEX blue in 12/11... got zync in jan/12, back dated to 1/11 automaticly even after one month of having the blue card.

Re: 01/01/13 Who is apping for Amex? What is your profile?

Revelate — Tue, 01 Jan 2013 01:50:30 GMT

@Anonymous wrote:
As far as I know it will show the year and month of the backdate but as far as the calculation of the aoaa..it will only show the backdate to the original card..so like if you applied for a card in december and now will apply tommorow..it will show the 2012 on new card but the aoaa will use the 1 month that it actually aged.

I could be wrong but thats what ive read

It wasn't read here on this forum I don't think, armbender is correct from what we know:

- Your account opening year is the year on any future Amex (assuming backdating)

- The month that you open the new, additional account is the month of opening.

So in my case obtaining a Zync in September '12, if I were to apply in Jan '13, I would receive the year from my Zync, and the month from the application. As a result, the opening date would be 1/12.

This is historically how it's worked, and unless it changed in the last few months it should still be the same from the information available here on this forum.

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 01:59:30 GMT

I don't think lionsfan was disputing the Member Since stuff, he/she was suggesting that it didn't fully carry over to the AAoA calculation.

My guess is that is not the case, as the CR shows the Member Since date, so the algorithm would have to be tweaked just for Amex cards, and i doubt that happens.

However, it IS strange in the case being discussed, where the new card is "backdated" to 1/12, before the user had ANY Amex. Why don't they just backdate to the date of the older card, which seems more logical and as easy

Although of course, the whole thing is illogical! As I've remarked before, this must make more work for other lenders, who have to determine if the AAoA is really accurate. Similarly for Amex SP for denials for existing card holders. Other lenders depend on HPs from all potential lenders to determine if the customer is desperate for credit. Amex hides this from them, while getting the benefit of full info from other lenders....

Re: 01/01/13 Who is apping for Amex? What is your profile?

Revelate — Tue, 01 Jan 2013 02:03:08 GMT

@Anonymous wrote:
I don't think lionsfan was disputing the Member Since stuff, he/she was suggesting that it didn't fully carry over to the AAoA calculation.

My guess is that is not the case, as the CR shows the Member Since date, so the algorithm would have to be tweaked just for Amex cards, and i doubt that happens.

However, it IS strange in the case being discussed, where the new card is "backdated" to 1/12, before the user had ANY Amex. Why don't they just backdate to the date of the older card, which seems more logical and as easy

Although of course, the whole thing is illogical! As I've remarked before, this must make more work for other lenders, who have to determine if the AAoA is really accurate. Similarly for Amex SP for denials for existing card holders. Other lenders depend on HPs from all potential lenders to determine if the customer is desperate for credit. Amex hides this from them, while getting the benefit of full info from other lenders....

American Express was founded in 1850.

I'm not certain when they introduced their charge and credit cards; however, I suspect it was much easier for them to track the year of the opening account, rather than specifically down to explicit month or date.

At some point they switched through likely successive cycles in their application backend, and today it would be trivial to do, but they have been in existsance and presumably this practice extends to before the information age.

Re: 01/01/13 Who is apping for Amex? What is your profile?

Anonymous — Tue, 01 Jan 2013 02:12:36 GMT

@Revelate wrote:
@Anonymous wrote:
I don't think lionsfan was disputing the Member Since stuff, he/she was suggesting that it didn't fully carry over to the AAoA calculation.

My guess is that is not the case, as the CR shows the Member Since date, so the algorithm would have to be tweaked just for Amex cards, and i doubt that happens.

However, it IS strange in the case being discussed, where the new card is "backdated" to 1/12, before the user had ANY Amex. Why don't they just backdate to the date of the older card, which seems more logical and as easy

Although of course, the whole thing is illogical! As I've remarked before, this must make more work for other lenders, who have to determine if the AAoA is really accurate. Similarly for Amex SP for denials for existing card holders. Other lenders depend on HPs from all potential lenders to determine if the customer is desperate for credit. Amex hides this from them, while getting the benefit of full info from other lenders....
American Express was founded in 1850.

I'm not certain when they introduced their charge and credit cards; however, I suspect it was much easier for them to track the year of the opening account, rather than specifically down to explicit month or date.

At some point they switched through likely successive cycles in their application backend, and today it would be trivial to do, but they have been in existsance and presumably this practice extends to before the information age.

Amex charge cards started 1958 and credit 1987. Since they needed computers to track spending and payments I can't believe that they couldn't keep month as well, but perhaps it wasn't considered important. But whatever the reason, still a little strange but I guess no pressure to change.

Re: 01/01/13 Who is apping for Amex? What is your profile?

adavis425 — Tue, 01 Jan 2013 02:16:00 GMT

@armbenderc wrote:
The new card will be date at 1 / 12.
Member at 2012 and 1 is month you apply. I get one year.

Yup. You get the year of original card with month of new app. Tomorrow will be 1/2012 ( for an AMEX obtained ths year).