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There are usually a lot of questions about why to apply for new Amex cards in January, particularly this time of year. Below is a brief explanation.
When you have an Amex log in, you have a "Member Since" date. For example, here is what mine looks like when I log in to my account.
Once you have established a "Member Since" date, every new Amex you open will show as being opened in the MS year. For example, every Amex I open reports as being opened in 1992. A new Amex will report the month that it was opened with the MS date as the year.
For example, let's assume a MS date of 2013 and two different scenarios for opening a second card.
MS date 2013
Amex 2 opened December 2014
Amex 2 reports as opened December 2013
reports as 1 year old
MS date 2013
Amex 2 opened January 2015
Amex 2 reports as opened January 2013
reports as 2 years old
If you have a really young MS date, you can see why applying in January can help you boost your AAOA over time. Waiting 1 month in this example nets another year of account age.
If you don't have an Amex, it is wise to get one before the year ends to lock in a MS date.
If you have a young MS date, it is wise to wait until January to take advantage of the account age as much as possible.
Finch v. LVNV FUNDING LLC, Md: Court of Special Appeals 2013
Default judgments were entered against each appellant. Appellants thereafter filed a class action in the circuit court, alleging that LVNV was not licensed as a collection agency, as required by Maryland law, when it obtained the underlying district court judgments. Appellants sought to represent a class comprised of all persons against whom LVNV had obtained a judgment for an alleged debt in Maryland state courts during the period of time in which LVNV was unlicensed. The class action complaint asserted five claims. Appellants sought declaratory and injunctive relief, damages for unjust enrichment, and damages for alleged violations of the Maryland Consumer Debt Collection Practices Act and the Maryland Consumer Protection Act. The circuit court dismissed appellants' complaint on the basis that it constituted an impermissible collateral attack on the district court judgments. This appeal followed
For these reasons, we hold that a judgment entered in favor of an unlicensed debt collector constitutes a void judgment as a matter of law. Accordingly, any judgments obtained by LVNV in the district court while operating as an unlicensed collection agency are void.
For the foregoing reasons, we hold that the circuit court erred in dismissing appellants' complaint. LVNV was not licensed when it obtained judgments against appellants in the district court; accordingly, the underlying district court judgments are void. We further hold that parties may collaterally attack a void judgment in another court. The circuit court, therefore, erred by ruling that appellants' complaint constituted an impermissible collateral attack on the district court judgments. Accordingly, we reverse the judgment of the Circuit Court for Baltimore City, and remand for further proceedings consistent with this opinion
read the whole ruling here; http://scholar.google.com/scholar_case?case=9749006638091405468&hl=en&as_sdt=2,3
So if you were a resident of Maryland, and have a LVNV judgment on your report that was awarded between October 30, 2007 through February 17, 2010
You may be able to have the judgment vacated based on this decision by the MD Special court of Appeals , which is good statewide in any lower court ( small claims, district, magistrate, etc.)
Once the judgment is voided, you can have it deleted off your reports.
Since this has gone back to the circuit courts so that the Class action can go forward - the Class action may take care of it all.
( I'm not a lawyer, and if you need to have a judgment vacated, I suggest you seek out legal advice on how to do this)