Can you still do a soft pull from Amex to check approval?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Fartanywherecard
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Postby Fartanywherecard » Fri Jan 25, 2013 10:34 am

Awesome to hear that. I have found so much information on piggybacking but my girlfriend says she called her employer's headquarters or something (Raymond James) and American Express and they both told her it will have no effect on my credit as only the primary cardholder is responsible for the card and therefore it is illegal to report my information. Supposedly this is new for 2013 and it's due to people abusing it (strangers paying strangers to become authorized users?)

My somewhat educated guess is: This does still work (I've found a million articles saying it does) but it's technically not legal, or let's say, it's sneaky and subterranean, and the card issuers do it to protect themselves while hoping that the individual won't realize it's on their credit report, and then saying, "Oops, sorry. Dispute it with your credit bureau" if the add'l cardholder actually discovers it.

Does that make sense? :eek:


Rory
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Postby Rory » Fri Jan 25, 2013 6:24 pm

i dont think its new, they never would report your payments or credit utilization or even credit limits, just that you had an account. It was barely any help back then and now I can only believe it is even less. Amex, as is all credit card companies, is all about risk management and risking potential lawsuits is something they would avoid as much as possible. If you do it dont get your hopes up, thats all
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Fartanywherecard
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Postby Fartanywherecard » Fri Jan 25, 2013 8:17 pm

Everything I've read and seen says this is very helpful. Why else would strangers pay other strangers to piggyback on their accounts? Anyway, we will see. If I'm wrong, I'll let you guys know. If I'm right, then we'll be able to benefit from that information as well.

woogs
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Postby woogs » Mon Jan 28, 2013 4:33 pm

A few things...

1) You mention it is a BUSINESS Platinum card. Well you may want your father to check, but my Business GOLD card appears no where on my credit report. But it will if I default on it - in good standing it does not report period - to anyone running my credit they would have no idea I had it except for the Amex hard inq within the last 2 years to see I applied for an Amex card.

In this case, I do not see how becoming an authorized user on your father's account will help as the business card will not report on your credit history either so no increase in average age or better credit utilization ratio (whole different story as it is a charge card anyways vs credit card).

2) Piggybacking indeed works just fine. There are a few ways to proceed here and I have done it first hand (in 2012, not sure what the rules are now with Amex with backdating) with my brother who just graduated from college and has has 0 credit cards and watched his credit score go from around 600 to 720 overnight by making him an authorized user on my Hilton Amex CREDIT card and back dating him 10 years to my original member since date.

Over night I gave him:

a) An Amex card that reports to his credit report
b) An instant average age of 10 years since this was his first credit card and they back dated him
c) A 24k credit line with around 5% utilization.

I never gave him the physical card though - I keep that.

So in summary...

1) Make sure it is not a business card and it is personal card so that it appears on your credit report
2) If you can get Amex to back date your authorized user card, this is great for CHARGE and CREDIT cards but see #1
3) An authorized user on a CREDIT card will benefit you more in my opinion, since it will in addition show a large credit line sitting at very low utilization (hopefully, depending on the primary user's use).
American Express: MB Platinum Card, Business Platinum, Business Gold, SPG, Hilton Surpass
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Fartanywherecard
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Postby Fartanywherecard » Thu Jan 31, 2013 7:38 am

Thanks a lot for the info, woogs...

Yes it is a Business and I think you're right because it hasn't shown on my report yet. So you're saying becoming an authorized user, even though it is technically not a joint account and your brother is not technically responsible for the borrowed money, will report on his credit?

My GF added me as an authorized user on her new Amex PRG. Obviously it's a new account so won't have the benefit your brother had, but it is good to know it will at least show up on my report.

She also added me as joint user on her Chase Freedom. That actually makes the account mine. Amex, as we know, does not offer this as an option. Account is approx. 1 year old.

Today, my father is applying for a Chase Sapphire Preferred with the intention of adding me as a joint. I am curious to see how all these new accounts affect me. Obviously my AAoA will lower, but my credit lines, payment history, etc. will all benefit in a few month's time.


Thanks for your help :) I suspected the BUSINESS aspect would be a caveat..

woogs
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Postby woogs » Thu Jan 31, 2013 7:49 am

Since it is business it will not appear on your credit report.

Correct, becoming an authorized user, NOT joint user, allowed my credit line and card to appear on my brother's account.

I also added my brother to my Chase Mileage Plus card (the older United Card, not the new Explorer card) and that also appeared on my brother's credit report - even though he is just an authorized user and even with his card number being the exact same number as my card.

Amex will issue authorized users cards with unique numbers and track the spending - Chase uses the same account number as the primary card holder, but it still appeared on his credit report.

The advantage though with Amex is the back dating - I was able to get them to date his card 2001 rather than 2012 so that helped his average age. I am not aware of Chase, or any other banks that allow the back dating.
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Chase: Ink Plus, Ink Bold, Sapphire Preferred, United Mileage Plus, Marriott Premier
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Fartanywherecard
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Postby Fartanywherecard » Thu Jan 31, 2013 8:41 am

My father has been with Amex since '93. If I was to have him apply for an Amex personal account and add me as a user, I could potentially back date that account to 1993? That sounds enticing. Now just have to tell my GF I don't need her Amex anymore :D

Again, thanks.

woogs
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Postby woogs » Thu Jan 31, 2013 8:48 am

Fartanywherecard wrote:My father has been with Amex since '93. If I was to have him apply for an Amex personal account and add me as a user, I could potentially back date that account to 1993? That sounds enticing. Now just have to tell my GF I don't need her Amex anymore :D

Again, thanks.


I would recommend he apply for a personal Amex CREDIT card, not a charge. For example, the Starwood, Hilton, or Delta card. That way the credit limit is clearly listed on your credit report as charge cards are treated differently.

He needs to make sure when he gets the new card, it says 93 on it (more than likely it will, but you never know). Amex will fix his card if they do not put 93 on it.

Once he has a 93 card, then he can login to their web site and add you as an authorized user, he will enter your SSN.

You will get the card in the mail and it more than likely will have 2013 on it (unless you had an Amex at some other point). Your dad/you will then need to call Amex and ask if they will change the member since date to match the primary account holder. Sometimes they do, sometimes they won't.

Give the credit report 1-2 months to update.

Best Case:
Your credit report shows an Amex credit card opened since 1993 with his credit line. If they only start him at $5k, after 60 days he can call in and have them up it to $15k (3x increase max at once) assuming his credit is good.

Worst Case:
Your credit report shows an Amex credit card opened since 2013 with his credit line.
American Express: MB Platinum Card, Business Platinum, Business Gold, SPG, Hilton Surpass
Chase: Ink Plus, Ink Bold, Sapphire Preferred, United Mileage Plus, Marriott Premier
Citi: Executive AA World Elite MasterCard, AA Visa Signature, AA Business MasterCard
Barclays: US Airways World Elite, Arrival Card

Fartanywherecard
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Postby Fartanywherecard » Thu Jan 31, 2013 2:04 pm

Thanks a lot. Very helpful. Good to know it will report on my credit.


So I think Amex BCP is the way to go.



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