What is the advantage of backdating?

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VictorSuede
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What is the advantage of backdating?

Postby VictorSuede » Fri Jan 31, 2014 3:47 pm

Hello,

When I was a teenager, I was an authorized user on my mother's AMEX Platinum card. That card is no longer open, and does not show up on my credit report.

I applied for and received an AMEX PRG card in 07/2013. When I logged into the online AMEX portal, I was surprised to see myself listed as a member since 2005. I haven't had the card in at least 6 years, probably longer.

What does the backdating mean? Does it do anything for me aside from bragging rights? ;)
Victor Suede

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  • American Express Premier Rewards Gold (1 Point per Dollar Everything; 3 Points per Dollar Travel; 2 Points per Dollar Gas and Groceries): NPSL (7/13; Credit Limit Adjustment 8/14)
  • Chase Slate: $500 (4/14)
  • Barclaycard MasterCard (1 Point per Dollar Everything; 2 Points per Dollar Gas, Groceries, Utilities): $2.9k (8/14; Credit Limit Increase 4/15)
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Total CL: $20.6k


CC Deville
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Postby CC Deville » Fri Jan 31, 2014 3:57 pm

It increases your average age of account. Length of credit makes up a huge part of your FICO score.

rockyrock
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Postby rockyrock » Fri Jan 31, 2014 11:59 pm

Yeah, what CC said AND the bragging rights.
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thom02099
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Postby thom02099 » Sat Feb 01, 2014 10:51 am

CC Deville wrote:It increases your average age of account. Length of credit makes up a huge part of your FICO score.


This is a significant factor that ONLY AMEX provides, this backdating benefit. If, for example you apply for additional AMEX cards, your MONTH of membership will be whatever month you apply in, but your YEAR of membership backdates to the 2005 membership date that you are now showing. So, theoretically, depending on what MONTH your current card shows, you could backdate to a date prior to that! IF for example your current membership date is 10/2005, and you apply for and get a new AMEX card this month, your membership date will show 02/2005, 8 months PRIOR to your original card! THAT, my friend, is the benefit of backdating from AMEX and the affect it has on your AAofA.
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