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« Last edited by davidmal on May 11, 2017, 04:25:28 PM »

Author Topic: Amex Platinum Master Thread  (Read 1089715 times)

Online AsherO

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Re: Amex Plat Questions
« Reply #120 on: February 01, 2011, 11:08:14 AM »
The charge card does not have to be first. If you have a BoA card for example opened 10 years ago, and another 8 (like Amex plat) cards with a 1-2 year life span, it shortens the average age of your credit accounts.

Based on your logic, if the charge card was only active for a short while, cancelling it might even raise someone's score by making the Average age of active accounts higher.

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Re: Amex Plat Questions
« Reply #121 on: February 01, 2011, 01:11:33 PM »
Based on your logic, if the charge card was only active for a short while, cancelling it might even raise someone's score by making the Average age of active accounts higher.
except for the fact that it stays on your report for ten years after you cancel it... so in terms of the age of the account it sticks with you for quite a while.   

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Re: Amex Plat Questions
« Reply #122 on: February 01, 2011, 01:35:17 PM »
except for the fact that it stays on your report for ten years after you cancel it... so in terms of the age of the account it sticks with you for quite a while.   

That's why I wrote age of active accounts.

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Re: Amex Plat Questions
« Reply #123 on: February 01, 2011, 02:18:13 PM »
Based on your logic, if the charge card was only active for a short while, cancelling it might even raise someone's score by making the Average age of active accounts higher.

Not sure were are understanding each other here: They are calculating the average age of all your accounts, open and closed. What I'm not sure about is if they calculate the total lifespan (kinda doubtful) of your accounts or (more likely) the 'average age' of your all your accounts, meaning how old they are. The banks like to see a long history of good credit, the longer the better. But when FICO does an average of your accounts and sees that 75% of them were opened in the last year or two, this is what lowers your score.

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Re: Amex Plat Questions
« Reply #124 on: February 01, 2011, 02:20:56 PM »
Not sure were are understanding each other here: They are calculating the average age of all your accounts, open and closed. What I'm not sure about is if they calculate the total lifespan (kinda doubtful) of your accounts or (more likely) the 'average age' of your all your accounts, meaning how old they are. The banks like to see a long history of good credit, the longer the better. But when FICO does an average of your accounts and sees that 75% of them were opened in the last year or two, this is what lowers your score.

But that would imply that for a heavy churner (where many cards remained open for a short while), the (average) age would be extremely low, and that just isn't the case.

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Re: Amex Plat Questions
« Reply #125 on: February 01, 2011, 02:26:45 PM »
But that would imply that for a heavy churner (where many cards remained open for a short while), the (average) age would be extremely low, and that just isn't the case.

Are you sure? It seemed like that to me when looking at my FICO (not fako) when I was a heavy churner. It showed that it was slightly hurting my score. Another heavy churner I knew at the time said the same thing. Granted, I don't think it's a very big hit, but still something.

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Re: Amex Plat Questions
« Reply #126 on: February 01, 2011, 02:36:04 PM »
the determining factor is if the average is based on ACTIVE accounts only or even closed accounts,
i have emailed some of the credit bureaus and fico and have not recieved a response to this question

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Re: Amex Plat Questions
« Reply #127 on: February 01, 2011, 02:49:48 PM »
Are you sure? It seemed like that to me when looking at my FICO (not fako) when I was a heavy churner. It showed that it was slightly hurting my score. Another heavy churner I knew at the time said the same thing. Granted, I don't think it's a very big hit, but still something.

Perhaps you're right and it's only a small hit because length of credit history is a relatively insignificant factor (10-20%) of your total score.

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Re: Amex Plat Questions
« Reply #128 on: February 02, 2011, 10:56:39 AM »
random question,sorry if i missed it,when i book a mileage ticket with most airlines,when traveling with an infant there is a tax charge around 10 percent of the actual ticket,just wondering,can i use my amex plat $200 airline credit towards that?

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Re: Amex Plat Questions
« Reply #129 on: February 02, 2011, 01:07:52 PM »
Are you sure? It seemed like that to me when looking at my FICO (not fako) when I was a heavy churner. It showed that it was slightly hurting my score. Another heavy churner I knew at the time said the same thing. Granted, I don't think it's a very big hit, but still something.
the other thing that you're forgetting is that a heavy churner is constantly churning and closing accounts, so as the year's go on he always has accounts aging until 10 years when they fall off... but there are others right behind it.  so unless youre someone that has a long history average (let's say 10+) years before he ever started churning, then he wont be effected that much in terms of the average age of accounts.     the problem would be if someone does heavy churning for a while and then stops... all those closed accounts will age until 10 years... and then one day he'll have lots of old accounts of his falling off the report.. that could hurt a bit.   of course if you've worked up a history before you start churning then this will be less of a problem.   

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Re: Amex Plat Questions
« Reply #130 on: February 02, 2011, 06:15:46 PM »
the other thing that you're forgetting is that a heavy churner is constantly churning and closing accounts, so as the year's go on he always has accounts aging until 10 years when they fall off... but there are others right behind it.  so unless youre someone that has a long history average (let's say 10+) years before he ever started churning, then he wont be effected that much in terms of the average age of accounts.     the problem would be if someone does heavy churning for a while and then stops... all those closed accounts will age until 10 years... and then one day he'll have lots of old accounts of his falling off the report.. that could hurt a bit.   of course if you've worked up a history before you start churning then this will be less of a problem.   

My argument is that his score would go up if he has other (older) accounts still active, because the average age would go up when those closed ones fall off.

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Re: Amex Plat Questions
« Reply #131 on: February 14, 2011, 05:15:45 PM »
i tried applying from the link on the home page but when i submit the app it says error anyone have this issue?

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Re: Amex Plat Questions
« Reply #132 on: February 14, 2011, 05:19:16 PM »
i tried applying from the link on the home page but when i submit the app it says error anyone have this issue?
You need to
-Clear out your browser's cache and cookies.
-Try using a different browser (IE, Firefox, Chrome, etc.)
Let us know if any of those work for you.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Amex Plat Questions
« Reply #133 on: February 14, 2011, 08:05:47 PM »
the 50k deal only came up in ie,i tried to apply a few times no luck                                                                                                                                                                         

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Re: Amex Plat Questions
« Reply #134 on: February 14, 2011, 08:13:45 PM »
the 50k deal only came up in ie,i tried to apply a few times no luck                                                                                                                                                                         
If it's not coming up in Firefox or Chrome it's because you didn't clear out your cache and cookies.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Amex Plat Questions
« Reply #135 on: February 14, 2011, 09:12:42 PM »
I cleared everything in Firefox and Chrome but still didn't work. However
it did work in IE

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Re: Amex Plat Questions
« Reply #136 on: February 14, 2011, 09:21:30 PM »
dan your the man!it finally worked in firefox and i got approved
 

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Re: Amex Plat Questions
« Reply #137 on: February 14, 2011, 09:22:59 PM »
dan your the man!it finally worked in firefox and i got approved
 
Congrats!
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Re: Amex Plat Questions
« Reply #138 on: February 15, 2011, 12:00:29 AM »
I have the Amex Platinum but still waiting for my points to show.  How to I upgrade my starwoods account to elite from having the platinum?

Thanks,
yisrael

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Re: Amex Plat Questions
« Reply #139 on: February 15, 2011, 12:06:08 AM »
I have the Amex Platinum but still waiting for my points to show.  How to I upgrade my starwoods account to elite from having the platinum?

Thanks,
yisrael
Call AMEX to get more info on that.
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