Member Since Date

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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day440
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Member Since Date

Postby day440 » Thu Apr 02, 2015 8:47 am

I just checked my account online and it now says Member Since 1992!! I haven't even received my card yet. I was very excited to see the back dating. Yay!


takeshi
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Postby takeshi » Thu Apr 02, 2015 9:54 am

If this is your first card the MSD imprinted on the card will probably be incorrect but that doesn't really matter. It's the MSD reported that matters. That said, AmEx will issue another card with the correct MSD if it really bothers you.

day440
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Postby day440 » Fri Apr 03, 2015 10:01 am

No, it doesn't bother me. I was just so excited to see they backdated it. Thanks for the reply!

CC Deville
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Postby CC Deville » Fri Apr 03, 2015 6:08 pm

Please let us know when it hits your credit report. People on MyFico are reporting that as of 21 March, American Express no longer reports the original Member Since Date as the opening date of new cards....The posters at MyFico indicate that Amex will still show your original MSD on your card and when you log in online, but will show as opened 4/2015 on the credit report.

Hope it isn't true but it wouldn't surprise me if it is.....

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Apr 03, 2015 6:28 pm

CC Deville wrote:Please let us know when it hits your credit report. People on MyFico are reporting that as of 21 March, American Express no longer reports the original Member Since Date as the opening date of new cards....The posters at MyFico indicate that Amex will still show your original MSD on your card and when you log in online, but will show as opened 4/2015 on the credit report.

Hope it isn't true but it wouldn't surprise me if it is.....


Maybe competitors or regulators sued them for misrepresenting customers' histories?

Edit: This doesn't seem like something Amex would change without being forced.
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CC Deville
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Postby CC Deville » Fri Apr 03, 2015 7:09 pm

CarefulBuilder14 wrote:Maybe competitors or regulators sued them for misrepresenting customers' histories?

Edit: This doesn't seem like something Amex would change without being forced.


Could very well be. I just wonder why it took the regulators/competitors until 2015 to force Amex to change the policy. And I agree, it is very unlikely that Amex would do this on their own unless they noticed to many were abusing the policy and sought to close the loopholes to avoid scrutiny from regulators.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Apr 03, 2015 7:30 pm

CC Deville wrote:Could very well be. I just wonder why it took the regulators/competitors until 2015 to force Amex to change the policy. And I agree, it is very unlikely that Amex would do this on their own unless they noticed to many were abusing the policy and sought to close the loopholes to avoid scrutiny from regulators.


So far, the discussion only suggests that new accounts won't be backdated. If people are annoyed now, they will be furious if Amex "forwarddates" existing accounts to when they were actually opened. If some FICOs reflected the full effect of app sprees and rage-driven or AF-dodging account closures, some people would have pretty lousy scores.

I know tricks and loopholes like backdating are sacred cows for many of us credit geeks, but I'm perfectly okay with a move to somewhat simpler, saner rules for credit.
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JonE
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Postby JonE » Fri Apr 03, 2015 7:52 pm

I think I'd be more concerned if they started nerfing the rewards for the BCP or PRG, since those are two targets on my list. Backdating would be irrelevant for me since I've never had an AMEX before.
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popamode72
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Postby popamode72 » Fri Apr 03, 2015 9:55 pm

I think backdating is more of a FICO score boosting thing and way to get more instant approvals. I think the most competent recon analysts can see right through those accounts anyway and can tell if they're new or not.

A lot of these credit card tricks and loopholes like bumpage, backdating, and even manufactured spending have really taken a huge hit this year. The Golden Age for all that stuff is over IMO though I've heard a lot of talk about how Redbirds are still a viable way to get some MS for now.
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flan
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Postby flan » Sat Apr 04, 2015 8:53 am

popamode72 wrote:I think backdating is more of a FICO score boosting thing and way to get more instant approvals. I think the most competent recon analysts can see right through those accounts anyway and can tell if they're new or not.

A lot of these credit card tricks and loopholes like bumpage, backdating, and even manufactured spending have really taken a huge hit this year. The Golden Age for all that stuff is over IMO though I've heard a lot of talk about how Redbirds are still a viable way to get some MS for now.


It's trivial for a computer to spot back dated amex accounts, too. Reports include between 5 and 7 years of payment history. Amex didn't make up non-existent payment data, they just lied abut the opening date. It's very easy to notice that the opening date says 1999, but there are only 4 months of payment history, so it's clearly a four month old account. I know at least one lender looks at that data; wouldn't surprise me if they all do.
(Once you've got five years of payments, the difference between 2010 and 1999 is pretty much nil. it makes a difference for the standard fico, but that's because the standard fico is dumb, and why newer scoring model use better metrics than simple age of accounts.)

I wonder what Amex's reasons are. They've had to known they were lying to the CRAs, and CRAs had to know they were lying to them. So who made them change?



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