topic Re: Amex MSD question in Credit Cards

Amex MSD question

mikhro — Sat, 05 Oct 2013 04:18:33 GMT

Can't find a similar post to mine, so here is a question for the Amex Veterans

I applied for the Amex PRG in August of this year, and its my 1st Amex ever. Amex has been reporting in my CR August as my first date of history with them.
Now, I want to apply for the Amex BCP in January of 2014. Will my MSD change to January 13 in my CR or stay August 13 to match my PRG?

I was planning to garden until July 2014, so I can get a new car loan with a sweet rate, but don't want to miss my chance to backdate and help my AAOA

Your input is greatly appreciated as always, and thanks in advanced
Shhhhhh, don't let anyone hear Im planning to jump the fence in 3 months

Re: Amex MSD question

09Lexie — Sat, 05 Oct 2013 04:20:17 GMT

The second card would report as Jan 2013 making it appear older than your first card.

Re: Amex MSD question

Revelate — Sat, 05 Oct 2013 04:23:37 GMT

The MSD only sets the year.

So in this case, MSD 2013 (from your first Amex in 2013), if you were to apply in 01/14 your open date on your credit report will be 01/13, free year of AAoA.

That said, you can get the backdate to 2013 *anytime*. I don't honestly think that a single inquiry / new tradeline in January would hurt all that much by July, it may even be a positive with 6 months of payment history on it vs. one additional inquiry (since you won't be at zero otherwise by July anyway) depending what the rest of your credit report looks like; however, a year of backdating isn't worth coming out of the garden for ever. That will always be there, your shot at the best possible auto loan rate won't be.

Always prioritize big ticket items, mortgage >> auto >> credit cards.

>> = much greater than in this case when it comes to relative importance.