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Back story.. Thank in advance for reading.. ![]()
So, I currently have 16 cards, 3 of which are Amex cards just secured this year... 2 of these cards still have NOT appeared on my credit report as I just received them last week... My current AAoA which includes just the one card on my credit report is 7.8yrs....
Back in 1998 I worked for a company where I was required to carry an Amex and in 2003 I received a new one AFTER I left this company.. The member since date on that card was 2003 as Amex claimed at the time that the original member since date does not carry over from business to personal card membership.. Well I went through some personal struggles that started in 2003 which caused me to lose my house in 2006 and despite having a perfect record with Amex, they shut down my cards once they found out I lost my house.. I never stiffed them, they received all of their money and on time..
Fast forward to this year, Feb 2013, I applied, and was approved for an Amex. After all of the good data on this site, I asked them back in Feb if they would be recognizing my original member since date and they said they would and the cards would come with a date of 2003. I asked them if they showed that I was a member since 1998 and they said they did but the cards were business and they couldn't use that date. ( even thou the card was in my name, under my social and I was responsible for paying the bill) So I received my cards with 2003.. After reading about even more success stories on MyFico I sent Amex a seucre message last friday state essentially stated that I noticed that my cards and online account show what appears to be an incorrect member since date and asked if they was anyway they could correct it to reflect 1998, They responded back and said YES... So I logged in this morning and my date now shows 1998 and I received emails saying my 3 new cards with the corrected dates will arrive tomorrow..
I wonder what type of impact these 3 new cards with a member since date of 1998 will have on my overall AAoA.. My current AAoA with just one of the cards listed on my credit with a member date of 2003 is currently 7.8yrs..
I love AMEX..
That's why I
AMEX!
@RSCo wrote:
I wonder what type of impact these 3 new cards with a member since date of 1998 will have on my overall AAoA.. My current AAoA with just one of the cards listed on my credit with a member date of 2003 is currently 7.8yrs..
I love AMEX..
Congratulations on your success in getting it changed. But I wonder why this AAoA question is so often asked, it's really not hard. You need to know the number of open and closed cards, say X. Then your "total" age is 7.8*x, (and of course the AAoA is 7.8!)
Now you add three cards, each adding say 15 years (change this slightly to account for the date already reporting for one of the cards). So you are adding 45 years.
Now the total is 7.8*X + 45, and you have X+2 cards (as one was already included). Thus your new AAoA is (7.8X+45)/(X+2)
If X is very large, the impact is small and vice versa.
Edit: I see the one already reporting is 2003, so you get 5 more years on that one, so it is (7.8X + 35)/(X+2)
@Anonymous wrote:
@RSCo wrote:
I wonder what type of impact these 3 new cards with a member since date of 1998 will have on my overall AAoA.. My current AAoA with just one of the cards listed on my credit with a member date of 2003 is currently 7.8yrs..
I love AMEX..
Congratulations on your success in getting it changed. But I wonder why this AAoA question is so often asked, it's really not hard. You need to know the number of open and closed cards, say X. Then your "total" age is 7.8*x, (and of course the AAoA is 7.8!)
Now you add three cards, each adding say 15 years (change this slightly to account for the date already reporting for one of the cards). So you are adding 45 years.
Now the total is 7.8*X + 45, and you have X+2 cards (as one was already included). Thus your new AAoA is (7.8X+45)/(X+2)
If X is very large, the impact is small and vice versa.
Edit: I see the one already reporting is 2003, so you get 5 more years on that one, so it is (7.8X + 35)/(X+2)
you are GOOD... Nice!!! Thank you.. The 2 new 15yr Amex accounts not yet reporting, and the 5 additional on my existing one will add 2 years to my total AAoA..