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@android01 wrote:Amex reviews my file roughly once a year, and I've been a member since 1986. On a more sinister note. It seems as though Experian somehow notifiies your current creditors that you are applying for new credit. There are entries by CREDIT COMMUNICATION SVCS that always appear on my EX report that trigger two thirds of my CURRENT creditors to soft my EX report whenever I apply for a new TL. This NEVER happens with EQ or TU.
I also noticed that when my new Citi card reported to EX, within a week Chase/AmEx/BofA did SP on it too. I guess Experian offers creditors a monitoring service that alerts them to changes made to their cardholders' reports? lol
@android01 wrote:Amex reviews my file roughly once a year, and I've been a member since 1986. On a more sinister note. It seems as though Experian somehow notifiies your current creditors that you are applying for new credit. There are entries by CREDIT COMMUNICATION SVCS that always appear on my EX report that trigger two thirds of my CURRENT creditors to soft my EX report whenever I apply for a new TL. This NEVER happens with EQ or TU.
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that's interesting, and good to know. i don't recall seeing this svc company on my EX file, but i'll check again. it would make sense because i noticed that ER solutions (which is a collection agency) did a soft pull on my EX file over the weekend. this has me freaked out because i have no idea what's going on...but, this is a whole 'nother topic for another section of myfico. LOL
@Anonymous wrote:
@android01 wrote:Also, many new AMEX customers don't have the new account report for 2-3 billing cycles, so don't be surprised with that either.
I was wondering when mine was going to hit, it hasn't shown up on myFico yet but now that you mention this makes since! Thanks
i wonder if they wait 2-3 billing cycles to report for the purpose of giving new accounts a 'trial period'....if the consumer screws up within that period, they can close the account and not have worry about sending adjustments to the CRAs.
I am learning so much about credit and CCCs and CRB. It's great to be educated on this stuff, but it's also somewhat unnerving. The more I learn, the more I realize just how much Big Brother is watching!
@frugalQ wrote:
@Anonymous wrote:
@android01 wrote:Also, many new AMEX customers don't have the new account report for 2-3 billing cycles, so don't be surprised with that either.
I was wondering when mine was going to hit, it hasn't shown up on myFico yet but now that you mention this makes since! Thanksi wonder if they wait 2-3 billing cycles to report for the purpose of giving new accounts a 'trial period'....if the consumer screws up within that period, they can close the account and not have worry about sending adjustments to the CRAs.
I am learning so much about credit and CCCs and CRB. It's great to be educated on this stuff, but it's also somewhat unnerving. The more I learn, the more I realize just how much Big Brother is watching!
Well, this theory is wrong. I just checked my EX report again today (yes, i've become addicted to pulling reports), and my Amex is already showing on there.
The great thing is it backdated to 2004 when i opened up my Amex Corporate Card....and my FAKO score increased by 13 pts.
I have three Amex accounts (PR Gold, Hilton HHonors, and Blue Cash Everyday) and they soft my reports at LEAST twice a week. And have for the last 12 months. Lol. They are always keeping a watchful eye!
@LS2982 wrote:
I actually have more than 1 SP on all three bureaus from AMEX, I've had my Zync since mid-march.
Hmmm.... I've had several pulls over the course of the year that I've had my Green, but only on EX.
I actually got softs on my experian report from AMEX and CHASE on the same date I applied for a citi card.
AMEX softs me like crazy. I think if you have charge card, you should expect pretty constant softing for a while if you are actively using card. My guess it is part of the process in determining your internal limits.
@frugalQ wrote:i wonder if they wait 2-3 billing cycles to report for the purpose of giving new accounts a 'trial period'....if the consumer screws up within that period, they can close the account and not have worry about sending adjustments to the CRAs.
I am learning so much about credit and CCCs and CRB. It's great to be educated on this stuff, but it's also somewhat unnerving. The more I learn, the more I realize just how much Big Brother is watching!
I think you've being far too optimistic. They'd still end up reporting the account and have it be closed by creditor, so you'd still take the new account/AAOA hit. Creditors really aren't ever on your side.