topic Re: AU on Amex Blue Cash Preffered in Credit Cards

AU on Amex Blue Cash Preffered

Anonymous — Sat, 02 Aug 2014 20:25:07 GMT

Hi All, thanks for the info as always.

My GF is adding me to her Blue Amex Preffered Cash Back Card as an AU.

Does this show up on all three bureaus reports? Does the 4k limit go on my utilization too? Will this help my credit considerably or hurt it? Does the card have just my name on it or is it different?

Credit info here:

BOA Cash Rewards - $500
Barclays Rewards - $1300
Capital One QuickSilerOne - $2000
Credit one Visa - $550
Capital One Secured - $340
All scores around 635-660 as of 7/30/14

Thanks

Re: AU on Amex Blue Cash Preffered

Revelate — Sat, 02 Aug 2014 20:31:28 GMT

Welcome to the forums!

Won't immediately help: Amex AU's (ACM's) look like a brand new tradeline; however, it may help later, as it does establish your membership date with Amex and if in future years you get your own Amex, it will reflect the year you were added as an AU in the open date which offsets sometimes completely the negative effects of new tradelines, and can even be a positive in some cases if it was long enough ago compared to the rest of your report.

Also, AU's are funny animals under the modern FICO algorithms (which not everyone is using yet, see mortgages) so it may or may not be counted as far as your utilization goes and might be disregarded altogether if it falls under their anti-abuse algorithm. I wouldn't worry about it though personally, if that's the case won't be the usual new account penalty so we're talking some upside for no real downside: not as good as your own Amex, but ostensibly better than not having one at all for some purposes.

Anyway, what are you still doing with that Credit One card? Too many fees for no real benefit compared to your other cards.

Re: AU on Amex Blue Cash Preffered

Anonymous — Sat, 02 Aug 2014 20:32:54 GMT

Thanks for the info!

I wanted to cancel the Capitol One Secured and the Credit one ASAP but I didn't want anything negative to happen.

Re: AU on Amex Blue Cash Preffered

Revelate — Sat, 02 Aug 2014 20:33:41 GMT

Ah sorry, I edited my message, see above . Might help might not.

In reality, with your listed cards we're not talking major utilization changes: the Cap 1 secured is OK cept that it's not useful, the Credit One though has something like 4x the fees of a Cap 1 secured, and that should be on the chopping block first.

Lot depends on what your utilization is, least on these forums you'll normally get advice (good advice at that) to pay down everything that isn't on a 0% promotion offer of some sort but leave a small balance on a card for FICO purposes.

Re: AU on Amex Blue Cash Preffered

Anonymous — Sat, 02 Aug 2014 20:37:11 GMT

I didn't want to take a dip in my score by cancelling two accounts at once. I don't keep any substantial balances on my cards. I just use them all month and pay them off. I don't use the Capitol One Secured or Credit One at all any more.

I guess i'll just wait and see what happens after a few months of being an AU on her card and then probably cancel the two lower end cards I have.

Re: AU on Amex Blue Cash Preffered

mongstradamus — Sat, 02 Aug 2014 23:00:56 GMT

@Anonymous wrote:
I didn't want to take a dip in my score by cancelling two accounts at once. I don't keep any substantial balances on my cards. I just use them all month and pay them off. I don't use the Capitol One Secured or Credit One at all any more.

I guess i'll just wait and see what happens after a few months of being an AU on her card and then probably cancel the two lower end cards I have.

I think the only potential dip could be for utilization purposes. even if you cancel those cards today they still will remain on your credit report for another ten years i believe. Rev is correct about 08 scoring in particular , not caring about AU accounts. From personal experience I thought my Amex TE, which is an au/acm account, would show utilization. It was the only one of my cards that was showing an balance. I got dinged for 25+ points on eq 08 for showing no util.

Re: AU on Amex Blue Cash Preffered

audia4 — Sun, 03 Aug 2014 01:50:55 GMT

I added my son to my Blue Sky last year and he had absolutely NO credit established (reports wouldn't even pull up his name). Since adding him, he established a credit report (and I also started adding my other cards as I got them) and today he was able to get his very own AMEX Blue Cash and a Discover It. Now the good news is, he'll be able to back date his new Amex to the date I first got mine.

Re: AU on Amex Blue Cash Preffered

Anonymous — Sun, 03 Aug 2014 02:30:27 GMT

Was your son already backdated with his AU card on your account? I wanted to have my 20yr old daughter backdated, to when I got mine. But mine is 1987 when i was an AU on my dads account. Dont think Amex would buy that! Also its harder to get AU accounts backdated now.

Re: AU on Amex Blue Cash Preffered

audia4 — Sun, 03 Aug 2014 03:13:07 GMT

@Anonymous wrote:
Was your son already backdated with his AU card on your account? I wanted to have my 20yr old daughter backdated, to when I got mine. But mine is 1987 when i was an AU on my dads account. Dont think Amex would buy that! Also its harder to get AU accounts backdated now.

He just got approved for his Amex today.

Re: AU on Amex Blue Cash Preffered

Anonymous — Sun, 03 Aug 2014 03:58:00 GMT

So he has not been backdated on your account yet?

Re: AU on Amex Blue Cash Preffered

audia4 — Sun, 03 Aug 2014 04:27:17 GMT

@Anonymous wrote:
So he has not been backdated on your account yet?

He just applied online TODAY and was approved. He doesn't even have the card yet with any info on the account. How can he back date already? Maybe I'm missing something or your question on how you could do that?

Re: AU on Amex Blue Cash Preffered

Anonymous — Sun, 03 Aug 2014 05:22:06 GMT

You posted this " Now the good news is, he'll be able to back date his new Amex to the date I first got mine" So I was asking if he was an AU on your account and already backdated to when you got your Amex account. My point is if he is not an AU on your card, how will he be backdated to when you got your account?

Re: AU on Amex Blue Cash Preffered

audia4 — Sun, 03 Aug 2014 06:04:55 GMT

@Anonymous wrote:
You posted this " Now the good news is, he'll be able to back date his new Amex to the date I first got mine" So I was asking if he was an AU on your account and already backdated to when you got your Amex account. My point is if he is not an AU on your card, how will he be backdated to when you got your account?

In that same sentence you quoted above....

"I added my son to my Blue Sky last year and he had absolutely NO credit established (reports wouldn't even pull up his name). Since adding him, he established a credit report (and I also started adding my other cards as I got them) and today he was able to get his very own AMEX Blue Cash and a Discover It. Now the good news is, he'll be able to back date his new Amex to the date I first got mine. "

So yes, he was an AU on my account since last year so once he gets his card, he should be able to back date his to last year. I don't exactly know what all you have to do in order to have it back dated, so I'll have to read up on that. Do you know?

Re: AU on Amex Blue Cash Preffered

Anonymous — Sun, 03 Aug 2014 17:49:18 GMT

so is it going to add to my total credit or not? lol (Thread Hijacked)

If I have 4690 total credit now, when i'm added to her amex as an AU (she has zero balance) with $4000 limit, will my total credit be 8690?

Re: AU on Amex Blue Cash Preffered

CreditPlay — Sun, 03 Aug 2014 17:55:05 GMT

@audia4 wrote:
@Anonymous wrote:
You posted this " Now the good news is, he'll be able to back date his new Amex to the date I first got mine" So I was asking if he was an AU on your account and already backdated to when you got your Amex account. My point is if he is not an AU on your card, how will he be backdated to when you got your account?
In that same sentence you quoted above....

"I added my son to my Blue Sky last year and he had absolutely NO credit established (reports wouldn't even pull up his name). Since adding him, he established a credit report (and I also started adding my other cards as I got them) and today he was able to get his very own AMEX Blue Cash and a Discover It. Now the good news is, he'll be able to back date his new Amex to the date I first got mine. "

So yes, he was an AU on my account since last year so once he gets his card, he should be able to back date his to last year. I don't exactly know what all you have to do in order to have it back dated, so I'll have to read up on that. Do you know?

I think what Juss11 was asking If your son's AU account , is already backdated to your MSD date ? Looks like AMEX stopped backdating AU(ACM)s to the pimary account holders MSD, but some people were able to do it.YYMV

Re: AU on Amex Blue Cash Preffered

CreditPlay — Sun, 03 Aug 2014 17:59:28 GMT

@Anonymous wrote:
so is it going to add to my total credit or not? lol (Thread Hijacked)

If I have 4690 total credit now, when i'm added to her amex as an AU (she has zero balance) with $4000 limit, will my total credit be 8690?

I think yes if that scoring model considers you as valid AU. FICO 08 have some internal rules to identify legit AUs based on address, name etc.

Re: AU on Amex Blue Cash Preffered

Anonymous — Sun, 03 Aug 2014 18:01:26 GMT

ok, thanks!

Re: AU on Amex Blue Cash Preffered

audia4 — Sun, 03 Aug 2014 21:39:31 GMT

@Jayx wrote:

I think what Juss11 was asking If your son's AU account , is already backdated to your MSD date ? Looks like AMEX stopped backdating AU(ACM)s to the pimary account holders MSD, but some people were able to do it.YYMV

Maybe I'm still not understanding then. I got the card, he was put on the card as an AU...all last year. His date on the AU account should basically be the same as mine (give or take a few months I believe).

So are you saying that now that he was just approved for his own AMEX that they will not back date "his" card he just got to the date that he was put on as an AU on mine?

Re: AU on Amex Blue Cash Preffered

CreditPlay — Sun, 03 Aug 2014 22:39:49 GMT

@audia4 wrote:
@Jayx wrote:

I think what Juss11 was asking If your son's AU account , is already backdated to your MSD date ? Looks like AMEX stopped backdating AU(ACM)s to the pimary account holders MSD, but some people were able to do it.YYMV
Maybe I'm still not understanding then. I got the card, he was put on the card as an AU...all last year. His date on the AU account should basically be the same as mine (give or take a few months I believe).

So are you saying that now that he was just approved for his own AMEX that they will not back date "his" card he just got to the date that he was put on as an AU on mine?

So if your MSD is 2013 and you added him last year then he will be backdated to 2013. But if you have got your MSD as like few years back lets say 2000 and you added him in 2013 then has the option of getting backdated to 2000 if he is lucky. He is definitely gonna get backdated to to the year he got added and the month he applied his new amex.

Re: AU on Amex Blue Cash Preffered

audia4 — Sun, 03 Aug 2014 23:33:31 GMT

@Jayx wrote:
So if your MSD is 2013 and you added him last year then he will be backdated to 2013. But if you have got your MSD as like few years back lets say 2000 and you added him in 2013 then has the option of getting backdated to 2000 if he is lucky. He is definitely gonna get backdated to to the year he got added and the month he applied his new amex.

Correct I got mine last year and added him last year as well.