Finally backdated!

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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otter
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Location: Grand Forks, ND

Finally backdated!

Postby otter » Mon Aug 18, 2014 11:02 pm

So I had an Amex Green back in '91 which we won't talk about (I think I settled for less than the total balance). After being blacklisted (I think) for years. I finally got back in late last year and have been trying to get it backdated on several occasions since (via phone, online, etc) with no success. Tonight, I figured WTH and tried with another online chat... success! Showed within an hour and got e-mail telling me new cards are on the way.

A couple of questions:

(1) How long before it reports to the credit bureaus as being 23 year old tradelines? My PRG statement closed a few days ago. My BCE closes later this month.
(2) Should I apply for another Amex since the effect of another 23 yr old tradeline will surely be greater than an inquiry (assuming approval and subsequent hardpull)?
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450


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onion
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Postby onion » Mon Aug 18, 2014 11:07 pm

It really depends. It took only a couple weeks for the AmEx cards to show up on my fiancee's TU, and it took a month and a half for them to show up on mine.

Congrats on the backdating! I'd just apply now, your ficos are good enough to get accepted so its not like you need the bonus points from the 23 year old TL first. Good luck!
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Aug 19, 2014 12:10 am

*Eyes rolling*

Before joining this forum, I used to be somewhat impressed with high FICOs and old Amex member since dates. I've now encountered a few cases of...shall we say...Amex distorting its historical relationships with some customers.

I'm certainly not against putting a 'member since' date on each card - if a person has had at least one account open with Amex at every point in time since that date. It doesn't have to be the same card, so long as there was always one open. Diligent creditors can look at a report and see where there is backdating, so that isn't too bad from a fairness perspective. But questionable 'member since' dating cheapens the Amex brand when a bad history and blacklisting can be whitewashed into the appearance of 23 years of great history with only a year or two of timely payments.

If I ever work as a creditor, I am going to go over every report I see in detail - and not just assume an 800+ FICO means a clean past.

Otter, I'm glad your credit profile is improved but this is definitely a practice I personally find unfair to people with a clean credit history. I think Amex just hurts itself and its own reputation when it allows this.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

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otter
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Postby otter » Tue Aug 19, 2014 6:40 am

CarefulBuilder14 wrote:*Eyes rolling*

Before joining this forum, I used to be somewhat impressed with high FICOs and old Amex member since dates. I've now encountered a few cases of...shall we say...Amex distorting its historical relationships with some customers.

I'm certainly not against putting a 'member since' date on each card - if a person has had at least one account open with Amex at every point in time since that date. It doesn't have to be the same card, so long as there was always one open. Diligent creditors can look at a report and see where there is backdating, so that isn't too bad from a fairness perspective. But questionable 'member since' dating cheapens the Amex brand when a bad history and blacklisting can be whitewashed into the appearance of 23 years of great history with only a year or two of timely payments.

If I ever work as a creditor, I am going to go over every report I see in detail - and not just assume an 800+ FICO means a clean past.

Otter, I'm glad your credit profile is improved but this is definitely a practice I personally find unfair to people with a clean credit history. I think Amex just hurts itself and its own reputation when it allows this.


Hey... I'm just playing the game- a game, I might add, I didn't start. No one asked me when I turned 18 years old if I wanted to have a file started with my name and I would be judged on my creditworthiness almost entirely by what was in that file. But I'm 40 something years old and I've learned how to play their game by their rules. I'm not even cheating- it's not like I'm asking for the old "pay-for-deletion"- I haven't had any baddies in more than seven years which means my record is clean. AND Amex backdating has been part of the rules... since before you were born. I've worked hard to improve my financial situation, including my credit. Getting back in with Amex was a huge part of getting there. I can understand why someone who is younger is upset about backdating, because it is a form of "age bias" and so I can see the unfairness.

Just think of me as the "Amex prodigal son". I was a member of the Amex family, I left for many years, and then I came home and was welcomed with open arms back into the family.

As for cheapening the Amex brand, I disagree. Backdating is unique to Amex, and if anything it only adds to the aura of the brand. If Amex's brand has been cheapened (something I posted about a while back), it's not by backdating- it's by lowering their credit standards (people on FICO bragging about getting one three years post bankruptcy) and allowing anybody issue cards on the Amex network(such as the Bluebird card). That is what cheapens the Amex brand.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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otter
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Postby otter » Tue Aug 19, 2014 6:49 am

CarefulBuilder14 wrote:If I ever work as a creditor, I am going to go over every report I see in detail - and not just assume an 800+ FICO means a clean past.


It is virtually impossible to have an 800 without having a clean past(at least in the seven years you have access to). It's not even easy to get a 700 if you have baddies (which is why you see so many people on myfico with 670-690's.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

MemberSince99
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Location: WI

Postby MemberSince99 » Tue Aug 19, 2014 6:53 am

I agree with otter. It only sucks if you personally can't take advantage of it, otherwise what does it hurt? If your current report is clean with 100% paid on times, what does it matter what happened 25 years ago?


It doesn't hurt you a bit, anymore than if I get a raise at my job next month it's going to hurt you personally because I get paid more.


It's one of the benefits you pay for, and dearly I might add with the annual fee, for being a member.


And if you look at a lot of the people with 800+ FICOs today I would bet the vast majority of them HAVE had credit issues in the past. I would guess the vast majority of us here have had lousy credit at some point in our lives. So what? What matters is what you have now and in the last 10 years - prior to that it really doesn't matter. If you ever become a creditor say the Bank of CarefulBuilder, then you can do whatever you want. You can insist on looking back 50 years and if there was EVER a single late, "denied you deadbeat loser!!!!!" Good luck staying in business and making money though.

DONx3
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Location: CO

Postby DONx3 » Tue Aug 19, 2014 7:54 am

CarefulBuilder14 wrote:*Eyes rolling*

Before joining this forum, I used to be somewhat impressed with high FICOs and old Amex member since dates. I've now encountered a few cases of...shall we say...Amex distorting its historical relationships with some customers.

I'm certainly not against putting a 'member since' date on each card - if a person has had at least one account open with Amex at every point in time since that date. It doesn't have to be the same card, so long as there was always one open. Diligent creditors can look at a report and see where there is backdating, so that isn't too bad from a fairness perspective. But questionable 'member since' dating cheapens the Amex brand when a bad history and blacklisting can be whitewashed into the appearance of 23 years of great history with only a year or two of timely payments.

If I ever work as a creditor, I am going to go over every report I see in detail - and not just assume an 800+ FICO means a clean past.

Otter, I'm glad your credit profile is improved but this is definitely a practice I personally find unfair to people with a clean credit history. I think Amex just hurts itself and its own reputation when it allows this.


Ya Karl Marx would agree with you.



Anyways, It's not like otter sneaked into Amex headquarters and changed his member since date.
Amex Blue Cash Everyday 7/01
Amex SPG Business 4/17
BOA Cash Rewards Visa Sig 6/07
Chase Freedom Visa Sig 12/13
Chase Freedom Unlimited Visa Sig 7/13
Chase Ink Plus Visa Sig 5/16
Chase Sapphire Reserve Visa Inf 2/17
Discover It 1/14
IHG RC World MC 12/14
Southwest RR Plus Visa Sig 8/16

takeshi
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Postby takeshi » Tue Aug 19, 2014 8:42 am

CarefulBuilder14 wrote:Otter, I'm glad your credit profile is improved but this is definitely a practice I personally find unfair to people with a clean credit history. I think Amex just hurts itself and its own reputation when it allows this.

Due diligence is every individual's responsibility. If one has a clean credit history one should be able to establish and leverage AmEx membership. AmEx is a relatively conservative creditor so they're not just handing out backdating to every subprime consumer out there.

popamode72
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Postby popamode72 » Tue Aug 19, 2014 8:48 am

That's great that you were able to get that kind of backdating. Personally I don't see anything wrong with that as long as you've worked as hard as you could to get back in Amex's graces and haven't tried to trash your credit over a long period of time. I even think the backdating stuff makes Amex stand out from the competition and that they should continue to offer that to their customers, especially the ones are willing to seriously get their financial life back on track and not make the same mistakes they made when they were much younger. All of these horror stories I've heard about people burning Amex just motivates me even more to not do anything stupid with any of my accounts with them and to keep my accounts in good standing.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Aug 19, 2014 12:08 pm

@otter - I agree it's not as bad as pay-for-delete on debts that are absolutely genuine. I totally agree that backdating is a legal part of the rules. As to your history, no one asked you if you wanted a credit history, but you did still sign an agreement with Amex when you got the card.

@MemberSince99 – You don’t have to pay Amex an annual fee to get the backdating, but I agree I would probably set too high standards to get much business as a lender.

@DONx3 – If Marxism applies here (and I'm not quite sure it does), wouldn't Amex be the Marxist state - treating everyone equally, regardless of merit? If you want to assign an ideology to me, it should be a more capitalist-libertarian one. My perspective is that people should be held responsible for their own mistakes. If you have some different interpretation of how political theory applies here, please explain it.

@takeshi – It may be the case that you have to be a low credit risk at present to get backdating, but it still implies a person was a member at a time he or she could have been completely blacklisted. I’ll say more about this later.

@papamode72 – I definitely see the appeal of reopening an Amex after financial mistakes.

More input, welcome or not, is coming shortly in another post. I like to be able to easily read everything I’m about to post.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red



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