Amex Backdating of Accounts

[Deleted User]

This is something I've read about in the past but I thought it was limited to Amex in the US. I can see how it works but was hoping someone on here might be able to explain the why and wherefore.

I opened my first Amex product in August 2012 and the start date of the account shoes on my credit report as such. I opened my second Amex product in Feb 2013 but they have backdated the age of my account to February 2012, before I had even opened my first card with them. Again, on my credit report, Feb 2012 is listed as the account opening date.

Unless I'm mistaken, this is a good thing as average account age is one of the criteria lenders look at when assessing you for credit. I know I've read in the past on US versions of MSE that it is common in the states for people to always keep one Amex product open (even if they don't intend to use it) so that whenever they apply for another, Amex backdate the account age, thereby actually increasing the average age of accounts.

Anyone know about this or experienced it themselves?

reclusive46

Lazyloki wrote: »

This is something I've read about in the past but I thought it was limited to Amex in the US. I can see how it works but was hoping someone on here might be able to explain the why and wherefore.

I opened my first Amex product in August 2012 and the start date of the account shoes on my credit report as such. I opened my second Amex product in Feb 2013 but they have backdated the age of my account to February 2012, before I had even opened my first card with them. Again, on my credit report, Feb 2012 is listed as the account opening date.

Unless I'm mistaken, this is a good thing as average account age is one of the criteria lenders look at when assessing you for credit. I know I've read in the past on US versions of MSE that it is common in the states for people to always keep one Amex product open (even if they don't intend to use it) so that whenever they apply for another, Amex backdate the account age, thereby actually increasing the average age of accounts.

Anyone know about this or experienced it themselves?

All of my Amex cards in the UK have also been back dated. This does indeed increase the average age of accounts.

[Deleted User]

Good to know, probably worth keeping one of my Amex cards open then. I had been planning to cancel them and reapply for different ones to bag the welcome bonuses.

reclusive46

Lazyloki wrote: »

Good to know, probably worth keeping one of my Amex cards open then. I had been planning to cancel them and reapply for different ones to bag the welcome bonuses.

They will use your original membership date, so if you cancel and come later it will still backdate.