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Thanks 09Lexie, Crashem, and others for your help.
I have a few additional questions:
1. I would just like to confirm, if my father adds me as an ACM today, my member year will be 2013, and if I apply for my own card any time in the future, my member year will still be 2013?
2. Will being added as an ACM put the cards history on my CR starting today(ACM), since when my father got the platinum card (2011), or since when he is an AMEX member(early 80's)?
3. His other cards other than the AMEX Platinum(and SPG which he applied for last week) are mainly Capital One. Is that a good card to be added as an AU to? WIll that report the cards history as well on my CR?
4. I know it should be very hard, but what would be the fastest way to get cards with 5,000-10,000+ limits? I read a post where a member recieved his card card with a 10k limit with no prior credit history other than being an AMEX AU/ACM.
Thanks again!
@bmwman3241 wrote:Thanks 09Lexie, Crashem, and others for your help.
I have a few additional questions:
1. I would just like to confirm, if my father adds me as an ACM today, my member year will be 2013, and if I apply for my own card any time in the future, my member year will still be 2013?
Yes
2. Will being added as an ACM put the cards history on my CR starting today(ACM), since when my father got the platinum card (2011), or since when he is an AMEX member(early 80's)?
All ACM cards now show open date of when you were actually added as ACM on that card so if you were added this month, it would be 10/2013.
3. His other cards other than the AMEX Platinum(and SPG which he applied for last week) are mainly Capital One. Is that a good card to be added as an AU to? WIll that report the cards history as well on my CR?
Non Centurion Bank issued credit cards are handled differently. When you are added as AU to non Centurion Bank credit cards, you basically get a duplicate of the tradeline on your credit report with the AU notation. So you basically inherit everything including card history, open date, etc. The best credit card, credit wise, to be added as AU to is one that is hardly used (so that the card's utilization does not effect your utilization), high limit, perfect payment history, and high limit. If your dad has any of these, then worth adding.
4. I know it should be very hard, but what would be the fastest way to get cards with 5,000-10,000+ limits? I read a post where a member recieved his card card with a 10k limit with no prior credit history other than being an AMEX AU/ACM.
There is more going on than that, but if you present post I can comment on it. Adding the platinum card is probably not very helpful for your situation. Platinum card has no limits per say and AU/ACM cards are discounted by most card issuers. If your Dad has high limit on SPG card, that would be more helpful as it will have a limit that, even discounted, will look like high limit to scoring models, but remember you need the other positives. Non Centurion Bank credit cards would be better. The main reason to be added as AU/ACM on Centurion Bank issued card such as SPG is that you get to set your member date earlier than you otherwise would. Although the AU/ACM from AMEX will basically just look like a new account and all the negatives associated with that.
Your instincts are correct however in getting AMEX. When you can get your own AMEX revolver, Amex is one of the best issuers to grow your CL with because of their credit score friendly CLI policies. Also, GEMB backed cards also fall into this category. If you agressively pursue CLIs, you will hit 5k-10k faster.
Assuming your incomes are somewhat in line, the fastest way is to get a couple of secured cards for 5k-10k. Let them sit on credit report for 6 months, then apply for non secured cards as you are likely to get credit lines in line with your secured cards. I find the single biggest indicator of new CLs is current CLs. Once your get some unsecured cards with CLs you want, you cancel the secured cards.
Thanks again!
@audia4 wrote:
@Crashem wrote:
@audia4 wrote:Wait, I'm a little confused. When I was getting my Amex a few months ago, I had ask the question about adding my son on my card and was told that it would give him credit until he could get his own. Then with Amex, they back date to the date the first one was received and they would back date any that he got on his own to the date of mine (since it's on his credit report). Is this wrong or did I misunderstand?
This is wrong if I understand what you are saying.
AMEX member date year is set by the year when someone gets any Centurion Bank issued AMEX, including ACM/AU, with the possible exceptions of a some business AMEXs. So if you add your son as ACM/AU this year to your Amex, his AMEX member year will be 2013.
Any future AMEXs where he is primary cardholder will show an open date of whatever month the card was opened in and his Amex member year. So in Oct 2023, if he opens a new Amex, it will show an open date of 10/2013. Your son will not inherit your member year by being added as ACM to your AMEX. People used to get away with this, but it lead to impossible situations where AMEXs were shown to be open before someone was born.
Here is where there is some confusion: AMEX also made a change to their policy around ACM/AU cards. ACM/AU cards no longer follow the normal AMEX rules on open date. Basically, ACM/AU cards now show an open date of when they were actually opened which makes them worse than VISA/MC/Discover who will show the open date of the original card.
So now I'm completely confused because to me this entire statement contradicts itself. You said if he opens his own in 2023, it will show an open date of 10/2013 (which is my open date-well actually August). Then you said he WILL NOT inherit my year (which would be the 2013)??? This makes no sense to me.
What is an ACM?
ACM is what Amex calls their AUs.
Sorry my entire post was a bit more complicated that it seemed. In my example, your son had been added as ACM/AU in 2013 so opening a card of his own in Oct 2023 would give him open date of Oct 2013. I didn't know 2013 was also your open date. The important thing is that with the exception of a some business cards, a person's member date year is set by when they first got an AMEX whether it be as primary or ACM/AU. However, any AMEXs he is added on as ACM/AU will show open date of when the person was actually added on account.
Let me change the example: You first get AMEX in 2013 so 2013 is your member date year. Lets say you add your son as ACM/AU to your Amex sometime in 2014. His member date year will be 2014. In Oct 2023, your son gets an AMEX of his own, the card will show open date of Oct 2014. If you added him as ACM/AU to another of your AMEXs in April of 2025, the card will show up on his credit report as opened in April 2025 even though his member date year is 2014 and your's is 2013.
@Crashem wrote:ACM is what Amex calls their AUs.
Sorry my entire post was a bit more complicated that it seemed. In my example, your son had been added as ACM/AU in 2013 so opening a card of his own in Oct 2023 would give him open date of Oct 2013. I didn't know 2013 was also your open date. The important thing is that with the exception of a some business cards, a person's member date year is set by when they first got an AMEX whether it be as primary or ACM/AU. However, any AMEXs he is added on as ACM/AU will show open date of when the person was actually added on account.
Let me change the example: You first get AMEX in 2013 so 2013 is your member date year. Lets say you add your son as ACM/AU to your Amex sometime in 2014. His member date year will be 2014. In Oct 2023, your son gets an AMEX of his own, the card will show open date of Oct 2014. If you added him as ACM/AU to another of your AMEXs in April of 2025, the card will show up on his credit report as opened in April 2025 even though his member date year is 2014 and your's is 2013.
Got it. I re-read what was posted from last night again this morning (after getting some much needed rest) and the other comments to the OP and eventually it sunk in as to what you were trying to tell me. I don't know, I guess I was having a long day/night yesterday and wasn't thinking too clearly but I get it now. Thanks SO MUCH for your help and explanation. I really appreciate these boards and the members.
@ Crashem Thanks, that helps alot.
I have a secured card from Union Bank with a 1k limit out of 3k max. I looked at Capital One sceured card which also has a 3k max. Any recommendations on a secured card which has 5-10k max limits? Also, isnt it better to keep your first card open?
I will see which card my father has that isnt used much but has high limits and good history, as well as add myself to his AMEX SPG.
One last question regarding business cards,
Will being added as and AU on Capital One Sparks card or AMEX Business SPG also report history on my CR and give me the AMEX meber year?
I heard that Amex was possibly rolling out with a "Co-Signer" Program, which allows someone to co-sign for someone to have their own card. They used to have this program years ago. You might want to inquire about this.