Any Thoughts Why Other CC Companies don't Backdate like AMEX

[BJKill]

I have been thinking about this since learning about Amex backdating and how it helps AAofA.

 

I have really two thoughts. One is I'm surprised that AMEX isn't pressured not to backdate new accounts since the rules say if you report (you don't have to report), you have to report accurately. I'm glad they do it, but they are kind of fudging there.

 

But what I really don't get is why some of their competitors don't do the same thing. That would be a huge benefit to members and would draw lots of new business and wouldn't cost a dime.

 

I am just surprised that AMEX seems to have a lock on this perk and is able to gain a competitive advantage over their peers.

 

 

[BobWang]

Technically,

 

it's *NOT* accurate reporting.

[BJKill]

Technically,

 

it's *NOT* accurate reporting.

That was my point. Again, I'm very glad they do it (though I'm locked out), but if everyone dd it, the whole AAofA component of FICO would be meaningless. Just curious how they can do it and if they do it, why their competitors don't match it. Like I said, it's a benefit that has a zero dollar cost.

Edited January 10, 2015 by BJKill

[BobWang]

Talk about it enough,

 

and it'll be killed

[mendelssohn]

I don't know what you're talking about. Mine are all reporting correctly.

[BobWang]

Honestly!

[BJKill]

Sorry if I shouldn't have asked. People seem to discuss a lot of potentially controversial things on here (i.e., b*) . I'm not sure where the line is in terms of asking questions. Not interested in upsetting the apple cart. Just trying to understand.

[BobWang]

D* probably should be FC 0

[mendelssohn]

They read here, just like other issuers. I think BW wants us to let this thread die and fall off onto page 5+ here. Things do get shut down, so let's just be happy and leave it at that.

[cashnocredit]

I have been thinking about this since learning about Amex backdating and how it helps AAofA.

 

I have really two thoughts. One is I'm surprised that AMEX isn't pressured not to backdate new accounts since the rules say if you report (you don't have to report), you have to report accurately. I'm glad they do it, but they are kind of fudging there.

 

But what I really don't get is why some of their competitors don't do the same thing. That would be a huge benefit to members and would draw lots of new business and wouldn't cost a dime.

 

I am just surprised that AMEX seems to have a lock on this perk and is able to gain a competitive advantage over their peers.

 

 

 

Amex D* is extremely widely known and talked about. It probably exists because Amex has always done it that way before CRAs existed in there present form while other, Johnny come latelys reported differently. Grandfathered in I suppose.

 

Given Amex's relatively high approval criteria existence of earlier accounts may not be a significant distortion. Now if First Premier D*.....

Edited January 10, 2015 by cashnocredit

[Aahz]

 

Technically,

 

it's *NOT* accurate reporting.

That was my point. Again, I'm very glad they do it (though I'm locked out), but if everyone dd it, the whole AAofA component of FICO would be meaningless. Just curious how they can do it and if they do it, why their competitors don't match it. Like I said, it's a benefit that has a zero dollar cost.

 

You answered your own question, even before asking it

[Konrad2012]

The idea that this could possibly change at any minute is why I would like to churn as many Amex as possible, go after the $0 AF offerings, etc. Load my reports up with them open and closed.

[breeze]

I think it's accurate in that it is a "member since" date, not an "issued" date. It's a nice little perk, but I don't think it's a big dissonance in reporting - I see it as how they "view" their customers. A fine point, but I think it's justifiable from the membership point of view. Like USAA's "once a member, always a member" - you can drop everything you have with USAA and come back years later - it's their idea of membership.

[cv91915]

I think it's accurate in that it is a "member since" date, not an "issued" date. It's a nice little perk, but I don't think it's a big dissonance in reporting - I see it as how they "view" their customers. A fine point, but I think it's justifiable from the membership point of view. Like USAA's "once a member, always a member" - you can drop everything you have with USAA and come back years later - it's their idea of membership.

I agree.

 

Every time I'm on the phone with Amex they thank me for being a customer since 1995... even though I wasn't actually carrying any of their cards for most of that time.

Edited January 11, 2015 by cv91915

[funkiehouse]

The only real rule in credit reporting is that it can't be negative and incorrect.

Edited January 11, 2015 by funkiehouse

[Aahz]

The only really enforced rule in credit reporting is that it can't be negative and incorrect.

[funkiehouse]

 

The only really enforced rule in credit reporting is that it can't be negative and incorrect.

 

 

What other type of rule are you suggesting?

 

Edit: After I re-read this it didn't come off as sarcastic as I thought I was being.

Edited January 11, 2015 by funkiehouse

[breeze]

The made up rules from Fair Isaac.

[funkiehouse]

The made up rules from Fair Isaac.

 

I like made up rules!

[breeze]

 

The made up rules from Fair Isaac.

 

I like made up rules!

 

 

I like to mock them. Credit scoring is a big advance over The Welcome Wagon, but they are not the FTC.

[Tyra]

Sorry if I shouldn't have asked. People seem to discuss a lot of potentially controversial things on here (i.e., b*) . I'm not sure where the line is in terms of asking questions. Not interested in upsetting the apple cart. Just trying to understand.

Don't make them change your name to D*Kill.

 

Mine are all reporting accurately.

Edited January 11, 2015 by Tyra

[JennyAZ]

Talk about it enough,

 

and it'll be killed

Uhm, did you see this? It's 142 pages long and dates from 2011, and started by some guy named Bob. Hope nobody snooped on these boards in the last four years. LOL.

 

The Master American Express AmEx BackDating Back Dating Thread

[BobWang]

That dirty rat

[mendelssohn]

 

 

Talk about it enough,

 

and it'll be killed

Uhm, did you see this? It's 142 pages long and dates from 2011, and started by some guy named Bob. Hope nobody snooped on these boards in the last four years. LOL.

The Master American Express AmEx BackDating Back Dating Thread

Amex knows Bob quite well.

[Tyra]

 

Talk about it enough,

 

and it'll be killed

Uhm, did you see this? It's 142 pages long and dates from 2011, and started by some guy named Bob. Hope nobody snooped on these boards in the last four years. LOL.

 

The Master American Express AmEx BackDating Back Dating Thread

 

As a result he was then smote by AMEX (S*). Mess with D* and you're gonna get S*