What is AMEX up to now?

[Anonymous]

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@score_building wrote:

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@Anonymous wrote:

d) do they report any other date to the CRAs or do the CRAs use the Member Since for age/scoring.  she said the CRAs ONLY have that date and that is what they use to age the card.

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yes the old date is used for scoring but the CRA's also report the "date [account] reported" which shows up on you cbr.  it is the current date that they report new card.  so for eg. your cbr may show the "date opened:  6/86"  but  "date reported:  11/2008".  presumably any creditor looking at the this would see it is a new account with age retroactively applied to it.

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Well I'll take the scoring for sure.  And date reported merely shows the LAST time they updated the account, for all my active accounts, however old, that date is sometime in the last month or two.  Doubt any creditor would be able to tell the Amex is not 28 years old.

[Anonymous]

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@score_building wrote:

Hey nyccc2,  congrats on your progress!

my bump was 15-35 points, a really nice boost, can't specify since other changes showed up concomitantly-

hope the older acct. date combines to great fico effect for you too! 

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@Anonymous wrote:

d) do they report any other date to the CRAs or do the CRAs use the Member Since for age/scoring.  she said the CRAs ONLY have that date and that is what they use to age the card.

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yes the old date is used for scoring but the CRA's also report the "date [account] reported" which shows up on you cbr.  it is the current date that they report new card.  so for eg. your cbr may show the "date opened:  6/86"  but  "date reported:  11/2008".  presumably any creditor looking at the report would see it is a new account with age retroactively applied to it.  i'm not sure how that reads to a reviewer.

Message Edited by score_building on 11-06-2008 03:58 PM

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15-35 points would come in handy.

I'm assuming I'll be in the 750-770 range on all cards by January (last baddies falls of TU/Experian and lower util) so a 15-30 bump would be fantastic-o!

Doing Biz LOC Apps in Q1 so high 700s will go very far indeed.

I'll wait on Green App for (hopefully!) the Bally's to come off.

[score_building]

nyccc wrote: 

"Well I'll take the scoring for sure."

definitely! 

nyccc2 wrote: 

"And date reported merely shows the LAST time they updated the account, for all my active accounts, however old, that date is sometime in the last month or two.  Doubt any creditor would be able to tell the Amex is not 28 years old."

doh!  ofcourse, you're right, thanks.  i was somehow thinking that it indicated date account FIRST reported, duh.  see previous page for response to your score impact question.

Message Edited by score_building on 11-06-2008 04:10 PM

[Anonymous]

Question: What is 'PFICO'?

[score_building]

it's your credit card enhanced fico score.  wamu has offered it as a perk w/ some of their cc's.

[Anonymous]

Hello,

Has anyone tried calling Amex regarding re-aging charged off accounts, and able to keep new Amex accounts.  I have a charged off Amex account that has recently been reporting, it dropped my score -42 points.  It is showing DOLA as 1990 and balance $1,593 and highest limit $100.  I now have Delta SkyMiles and Amex Blue, I am afraid if I call and ask for the removal they will close both accounts.  I have paid both card PIF every month, do I chance of keeping the positive account if I dispute an 18 year old SOL and past FCRA reporting.  

Please give me any helpful advice.......I was making good progress until this account dropped my score -42 points.

[Anonymous]

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@Anonymous wrote:

Hello,

Has anyone tried calling Amex regarding re-aging charged off accounts, and able to keep new Amex accounts.  I have a charged off Amex account that has recently been reporting, it dropped my score -42 points.  It is showing DOLA as 1990 and balance $1,593 and highest limit $100.  I now have Delta SkyMiles and Amex Blue, I am afraid if I call and ask for the removal they will close both accounts.  I have paid both card PIF every month, do I chance of keeping the positive account if I dispute an 18 year old SOL and past FCRA reporting.  

Please give me any helpful advice.......I was making good progress until this account dropped my score -42 points.

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Based on my conversation I don't get the feeling it is an issue.  It wasn't a 'dispute' I called the #,she was immediatly aware of what I was talking about (CRA reporting old accounts), took the account # and my SS# and said she was sorry it would come off.

*I* asked if I could speak with someone to pay it, she said there isn't even a record of the 'real' amount, that I should not bother or worry about it.

I even asked specifcally about getting APPROVED for new card now that the item was coming off AND she had clearly told me NOT to pay and she said once it is off the report you are fine.

BTW I asked if I was eligible for the Oasis programs (i.e. can I PAY YOU) and she said no don't think so, don't worry, you are fine.

[Anonymous]

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jmbfl wrote:

This is not the correct procedure, will waste a lot of time and may have undesirable results. What happens when you contact the CB's, they validate the debt and AMEX says it is valid?

Call AMEX at 800-874-2717. This is the credit reporting department. Tell them you have a reaged account reporting and where it is reporting to. They know all about this problem. It will be gone in a few days.

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Actually, disputing with the CRAs is exactly the correct procedure.

Following the dispute procedures outlined in the FCRA is the only way to protect your rights.  Obviously you can sue anybody anytime you want, but good luck getting a judgment based on FCRA violations when you didn't even follow the method of recourse outlined in that very statute.

When the judge asks you whether you sought relief by disputing with the CRA, as outlined in the FCRA itself, and your answer is no, how will you explain that to the judge?

1. Dispute with CRA.

2. If, as you say, the CRA verifies the incorrect/obsolete information, then (and only then) do you send an ITS.

[jmbfl]

A little bit literal of you here. I meant not the correct procedure in this particular case. This is a well know problem and AMEX is sitting at the other end of that telephone number waiting, ready to acknowledge their error and make things right. You can go through all that other rigamarole if neccessary for legal purposes after they tell you to go pound sand. They did not and they will not. I didn't want to get all legal with them and I didn't have to. I was more interested in results and I had results within 48 hours of my call.

[Anonymous]

Fair enough.  It needs to be made clear, though, that in general, the CRA is the place to go to get inaccurate data corrected or removed.  There is no provision in the FCRA for contacting a creditor directly regarding inaccurate reporting.  None.

Now, in a situation like this, I agree that it is the most expedient way to get the bad information removed.  However, when there is talk of attorneys and lawsuits, as there was much of in several early posts on this thread, one should always have an eye on preserving one's rights under the FCRA.  CRA disputes are the only way to do that.

Message Edited by cheddar on 11-07-2008 07:56 AM