AMEX app in January? Please explain

[SwiftTone]

I keep reading about people recommending apping for AMEX in January. I understand the advantage of it has to do something with backdating but don't exactly know why. Could someone please explain this to me?

 I am planning for a mini app spree of maybe 2-4 cards October/November and I'd like AMEX to be one of them. I would hold out to January if it's really worth it. Thanks

[wreith]

I was told to app in Dec for backdating purposes all other card would have a member since 12/2012 on them.  If you already have a card like a zync and wanting to get one of their revolvers you would then wait to app, from my understanding, and it would be back dated to member since 06/2012 so it would backdate 6 months newer.  That is how I understand it, I could be wrong. 

[Essence]

If this if yur first Amex card you should app by Dec to have a member since 2012 date. All future cards should be apped for in Jan if possible for maximum backdating. If you are a member in 2012 and get a second card in Jan 2013, amex will backdate that second card to jan 2012, free extra year.

[Anonymous]

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@wreith wrote:

I was told to app in Dec for backdating purposes all other card would have a member since 12/2012 on them.  If you already have a card like a zync and wanting to get one of their revolvers you would then wait to app, from my understanding, and it would be back dated to member since 06/2012 so it would backdate 6 months newer.  That is how I understand it, I could be wrong. 

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This is correct. 

If you already have an Amex, say that you applied for in April 2012, it would make sense to wait until January. Your new card would be backdated to January 2012, effectively making your new card a year old. 

If you are apply for you FIRST Amex, however, you should apply in oct/nov/dec with the rest of your apps to set a 2012 membership date. That way, your future Amex cards will backdate to 2012 rather than 2013 if you wait until January.  

[crunching_numbers]

OK- If you do not, nor have ever had an AMEX card, app as soon as you are ready.  Waiting for January does not apply to you, and getting the current year as your oldest account with AMEX will help you later.

If you are a current or previous AMEX card member:

When you apply backdating takes the month you apply and adds it to the year you became an AMEX member for your new card member since date.

For example, if you got your first AMEX in 2002, and applied for a new card in November of 2012, the card would be dated 11/2002.

If you waited to apply until January of 2013, the the card would be dated 1/2002, or 10 months earlier.

[webhopper]

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@wreith wrote:

I was told to app in Dec for backdating purposes all other card would have a member since 12/2012 on them.  If you already have a card like a zync and wanting to get one of their revolvers you would then wait to app, from my understanding, and it would be back dated to member since 06/2012 so it would backdate 6 months newer.  That is how I understand it, I could be wrong. 

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If you became a member of Amex in 2010, and you waited until January 2013 to apply instead of applying in December 2012; then you're new account will be listed as being opened since January 2010.  So by waiting a month longer, you gain a years worth of history on that account

If you became a member of Amex in December of 2005 instead of waiting until January 2006, then all future accounts will be backdated to the date of 2005. 

So like, you add a new Starwood card in January 2013,  the account shows up on your report as Opened since 1/1/05 even though you became a cardmember in December of 2005.

[OhioCPA]

Amex reports the year for card open date the same as the year from the original card for subsequent cards. The month reported will be the month that the card was actually open. My first card was opened in 1984, all of the cards I opened in 2011 and 2012 are dated 1984.

If someone opens their first Amex in December 2012, then their second card in January 2013, the first card will be dated 12/12, and the second card 1/12. Thus, the second card looks like it is a a year older than the first.

This advantage is limited for someone with a thick file. For example, with 12 accounts factored into AAoA, having an account open in January as opposed to July would only change AAoA by half a month. Since AAoA is rounded down to the nearest year the likely effect is minimal.

Edit: Guess I should learn to type faster.

[wreith]

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@webhopper wrote:

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@wreith wrote:

I was told to app in Dec for backdating purposes all other card would have a member since 12/2012 on them.  If you already have a card like a zync and wanting to get one of their revolvers you would then wait to app, from my understanding, and it would be back dated to member since 06/2012 so it would backdate 6 months newer.  That is how I understand it, I could be wrong. 

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If you became a member of Amex in 2010, and you waited until January 2013 to apply instead of applying in December 2012; then you're new account will be listed as being opened since January 2010.  So by waiting a month longer, you gain a years worth of history on that account

If you became a member of Amex in December of 2005 instead of waiting until January 2006, then all future accounts will be backdated to the date of 2005. 

So like, you add a new Starwood card in January 2013,  the account shows up on your report as Opened since 1/1/05 even though you became a cardmember in December of 2005.

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What do you know I got something somewhat right on here

[SwiftTone]

So if I open my first AMEX 11/2012, and my second on 01/2013, my second AMEX will be backdated to 01/2012?

[bamagirl1]

Swifttone--

Yep..That's correct!!