Amex Card Experian Reporting Question

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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popamode72
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Amex Card Experian Reporting Question

Postby popamode72 » Fri Sep 05, 2014 9:16 am

Disregarding my previous question here. See question below.
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popamode72
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Postby popamode72 » Fri Sep 05, 2014 9:20 am

Even though I've gotten some of my confusion over backdating cleared up, I am now wondering what would happen if I were to open another Amex account let's say next year in January, March or any other time before June when my first Amex account was opened. How would that report to the credit bureaus and how would a lender like Barclays look at the backdated account? They would surely still see that there would be a recent Amex inquiry either way. It's kinda hard to wrap my mind around this idea and there are still things I don't quite understand about the process.

I even thought that backdating meant if you opened a new account that the date that it was opened would just report as the same month and year that the first account was opened. Didn't realize just how much more an impact it can have than that depending on when the account is opened.
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 » Fri Sep 05, 2014 10:12 am

My understanding is that if you open a new Amex in January 2015, then Amex will report to Experian that the account was opened in January 2014. The month is the real month it was opened, and the year is the calendar year in which you got your first Amex. This improves your AAoA and boosts your FICO.

But Barclays will see that it wasn't on your TU history in Dec 2014, but was on your history by, say, March 2015. Also, Barclays will see no payment history exists before early 2015. So they certainly could know it was a new account if they bother to put two and two together.

I expect Barclays would treat it as a new account, as it is totally new. you're not reopening an old account. Backdating is just a technical FICO boost / customer pride thing. It doesn't 'trick' creditors in the slightest unless a creditor is only looking at the FICO score, which not many do.

Barclays might not see the inquiry, as Amex usually pulls EX and Barclays pulls TU - although Barclays has been known to sometimes pull first TU and then EX for borderline applicants. But I don't think Barclays subscribes to EX updates the way they do to TU.
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popamode72
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Postby popamode72 » Fri Sep 05, 2014 10:30 am

I see. I think in my state, Barclays usually pulls exclusively from TU. I would also assume that if I were to get denied for a Barclays card by the system and I decided to have a recon done on that app that it wouldn't be too difficult for them to figure that out.
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 » Fri Sep 05, 2014 10:42 am

I think it is safe to say that the Barclays computer system has no trouble at all in detecting backdating - if the computer system looks at the report, and not just the FICO score. I would expect that it looks at the report.

A human analyst would probably look at both.
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

takeshi
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Postby takeshi » Fri Sep 05, 2014 11:00 am

popamode72 wrote:How would that report to the credit bureaus and how would a lender like Barclays look at the backdated account?

We can tell you how it reports but how it looks to a creditor isn't a universal matter since creditors are not identical in terms of underwriting criteria and what they may or may not be carefully scrutinizing on applications. Backdating should be obvious on manual review in cases where the history doesn't exist and theoretically it should be detectable by automated systems. However, that doesn't mean that it's caught with either process by every creditor out there in every possible situation.

We really can't conclusively verify and we can only surmise based on aggregated anecdotal evidence. I suspect that if my 2 new AmEx cards in 2013 were not backdated (to 1998) that PenFed might have not approved me given all the other new cards I acquired in 2013 just prior to PenFed and their anti-"pyramiding" stance but I can't prove anything one way or another.



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