AM EX back dated my new account

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eapa507
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AM EX back dated my new account

Postby eapa507 » Wed Mar 30, 2016 12:36 am

I applied for an AM EX BCP yesterday and when I set up my online account tonight I noticed that it says member since 1988!! I was confused at first and then it hit me, I had a charge card with them for a couple of years back in college that I had completely forgotten about. I never knew CC companies would do this, but then again this is the only CC company that I have ever closed an account with and reapplied.

My second surprise was clicking on the link to my FICO score...... 840 (Experian FICO 8) :cool: I was kind of shocked because I had expected my scores to take a little hit as I have applied for 3 new CC in the past 6 months, and just got approved today to refinance my student loans. I have had a score above 800 before, but this is the highest I have ever known about. I say that because up until 6 months ago I had no idea what my score was and I hadn't been keeping track for years. My Transunion score is still sitting at 765, but Discover hasn't updated it since 2/26 and I paid off a $9,500 balance I was running at 0% the end of February. Now I am wondering what will happen with that score when it updates probably on 4/2 when the new statement cuts.
I was thinking with the new accounts and the recent HP-3, that my scores would drop a bit. They definitely went down in December when I charged the $12,000 in dental work. That put my utilization at 50% for that card and 34% overall. I am now at less than 5% with 3 out of 5 at 0$ balance. I think I am becoming a bit obsessed with my score and the whole rewards earning now that I am researching and learning. I am glad this forum is available as I am really getting a lot of great information here. Thanks.


kdm31091
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Re: AM EX back dated my new account

Postby kdm31091 » Wed Mar 30, 2016 7:34 am

eapa507 wrote:I applied for an AM EX BCP yesterday and when I set up my online account tonight I noticed that it says member since 1988!! I was confused at first and then it hit me, I had a charge card with them for a couple of years back in college that I had completely forgotten about. I never knew CC companies would do this, but then again this is the only CC company that I have ever closed an account with and reapplied.

My second surprise was clicking on the link to my FICO score...... 840 (Experian FICO 8) :cool: I was kind of shocked because I had expected my scores to take a little hit as I have applied for 3 new CC in the past 6 months, and just got approved today to refinance my student loans. I have had a score above 800 before, but this is the highest I have ever known about. I say that because up until 6 months ago I had no idea what my score was and I hadn't been keeping track for years. My Transunion score is still sitting at 765, but Discover hasn't updated it since 2/26 and I paid off a $9,500 balance I was running at 0% the end of February. Now I am wondering what will happen with that score when it updates probably on 4/2 when the new statement cuts.
I was thinking with the new accounts and the recent HP-3, that my scores would drop a bit. They definitely went down in December when I charged the $12,000 in dental work. That put my utilization at 50% for that card and 34% overall. I am now at less than 5% with 3 out of 5 at 0$ balance. I think I am becoming a bit obsessed with my score and the whole rewards earning now that I am researching and learning. I am glad this forum is available as I am really getting a lot of great information here. Thanks.


Sorry, but the backdating is purely cosmetic. Your card and the website will say member since 1988, but as far as the credit bureaus go, this will be reported as a brand new account.

Just try not to over-obsess. Score can and does fluctuate often as your util goes up/down, which is a temporary factor. Keep your accounts in good standing, let them age, don't add a bunch of inquiries, keep your debt low/nonexistent, and the rest will fall into place.

eapa507
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Re: AM EX back dated my new account

Postby eapa507 » Wed Mar 30, 2016 9:46 am

kdm31091 wrote:
eapa507 wrote:I applied for an AM EX BCP yesterday and when I set up my online account tonight I noticed that it says member since 1988!! I was confused at first and then it hit me, I had a charge card with them for a couple of years back in college that I had completely forgotten about. I never knew CC companies would do this, but then again this is the only CC company that I have ever closed an account with and reapplied.

My second surprise was clicking on the link to my FICO score...... 840 (Experian FICO 8) :cool: I was kind of shocked because I had expected my scores to take a little hit as I have applied for 3 new CC in the past 6 months, and just got approved today to refinance my student loans. I have had a score above 800 before, but this is the highest I have ever known about. I say that because up until 6 months ago I had no idea what my score was and I hadn't been keeping track for years. My Transunion score is still sitting at 765, but Discover hasn't updated it since 2/26 and I paid off a $9,500 balance I was running at 0% the end of February. Now I am wondering what will happen with that score when it updates probably on 4/2 when the new statement cuts.
I was thinking with the new accounts and the recent HP-3, that my scores would drop a bit. They definitely went down in December when I charged the $12,000 in dental work. That put my utilization at 50% for that card and 34% overall. I am now at less than 5% with 3 out of 5 at 0$ balance. I think I am becoming a bit obsessed with my score and the whole rewards earning now that I am researching and learning. I am glad this forum is available as I am really getting a lot of great information here. Thanks.


Sorry, but the backdating is purely cosmetic. Your card and the website will say member since 1988, but as far as the credit bureaus go, this will be reported as a brand new account.

Just try not to over-obsess. Score can and does fluctuate often as your util goes up/down, which is a temporary factor. Keep your accounts in good standing, let them age, don't add a bunch of inquiries, keep your debt low/nonexistent, and the rest will fall into place.


That's fine with me. I didn't even know back dating existed. My oldest account is 20 years with my average at 16 years so I don't think it matters much. I'm not new to having credit just new to using it for the rewards and actually tracking my scores. Thank you for clarifying exactly what this means.

Tubpbs
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Re: AM EX back dated my new account

Postby Tubpbs » Wed Mar 30, 2016 5:47 pm

Just for fun...keep us posted on how it appears on your credit reports next time you see them.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

eapa507
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Location: USA

Re: AM EX back dated my new account

Postby eapa507 » Wed Mar 30, 2016 6:13 pm

Tubpbs wrote:Just for fun...keep us posted on how it appears on your credit reports next time you see them.


Sure, no problem. I work for the Government and because of the OPM hack by China last year I have access to all three of my credit reports for free for the next 3 years. I log in and check them a few times a month. The company that is monitoring this sent me an email the same day I applied for the American Express card alerting me to the inquiry.



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