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Good evening all, I know in the AmEx family, they have a feature where you can backdate any AU that is added to the card, to the first time you opened the card. My question is my auntie has a 10 year history with AmEx, and I wanted to finally get added on to her card, her question is say if I have something bad in my history, will that bring her credit score down? Or if she ever acquires one late, will I be affected dramatically since I have never missed a payment!? My plan is to finally add a history to my credit, and since she has good credit, it would work out for me. Also will my AAOA be affected? Since my credit history is only 2 years due to my installment loan, and my AAOA is 1 year. So like since her card is 10 years in, if she backdates me on her card, can my AAOA go up along with my credit history!?
Please explain the goods and bad of it, as I have never missed a payment and have no delinquent or anything negative on my reports from any of my cards/loans. She might have some from when she was younger 2005 ish, would that affect me in anyway. Is this a good move for the AAOA or credit history age? (Which ever one it affects) or should I just remain as I am and be with a short history!?
This was only brought to my attention because I am going to be applying for a mortgage Nov 2015. And I want a really strong credit profile. And I've always wanted to do this, but I never understood it fully/ the benefits and perks and consequences of it.
Please chime in! As always I am greatly appreciated of the advice, and thank everyone who chimes in on providing their insight's on this category.
I believe that what you are asking no longer works (it used to but was stopped). Amex backdating backdates new cards to the first card YOU got (whether as an AU or on your own) but adding as an AU no longer allows you to inherit the date of the owner of the card.
Dang always late on things!!! I just read a article, saying if I tried long enough there would still be a 1% chance, if I got the right representatvie on the phone, does this hold true, or has it been stopped completely!? As in I have 0% chance.
@ReaLiLJ wrote:Dang always late on things!!! I just read a article, saying if I tried long enough there would still be a 1% chance, if I got the right representatvie on the phone, does this hold true, or has it been stopped completely!? As in I have 0% chance.
AFAIK from anecdotal reports, 0% chance.
Have to remember this is system generated, I really doubt Amex would allow the front-line CSR's to set it manually so there's likely a review process: adjusting things like account open dates opens up the entire system to abuse and fraud: admittedly more sophisticated than other fraud issues, but it's still a problem. Possible that Amex hires higher-class CSR's and grants them more leeway than other lending institutions but economics and regulations both suggest that's probably not the case.s
May be a needle in a haystack issue (bureaucrats stamping properly formatted forms without looking at them closely as an example) but the easy shortcut for AAoA trickery is done, have to build it going forward again. Personally I'd do the AU anyway for future backdating goodness, it's just not going to make an immediate improvement right now (outside the usual new tradeline benefits/negatives).
+1 to 0%
Sorry to say simply doesn't happen anymore
Argghhhhhhh you listen here AMEX! BACKDATE ME lol, if only if only. But no I understand.
I'm going to pull her reports, and if it won't have any negative affect (90 day lates etc), I will do it, just for the future backdating goodness as you said, as I know it's no harm having the other features that come with it, except for the new TL consequences Trade off. (New account - AAOA go down,etc) But the CL that will be added > that.
Think outside the box! What about stealing her identity, then you get the 10 years account? You read so much about identity theft, must be pretty easy....
lol that would be awesome, until the police/FBI come. hahahaha