rebuilding with spouse?

Dis0314 · ‎11-07-2015

We filed chp7 bankruptcy jointly this past Feb. When rebuilidng our credit would it matter if the first two cards are under her name and im an authorization user only or do i need to get some myself? The reason is all the cards that went BK were mine (she was auth user) and when trying cap1 pre-auth I didn't get anything but she got a pre-auth for a Plat card (3k limit!!) went through full approval. I'm wondering if it really matters since it will report on both of our credit reports..

Anonymous · ‎11-07-2015

Some lenders don't look at AU. Others do. My wife and I have been able to both get approved and have added each other on numerous cards. We haven't done the AU on most of the store cards (probably will on Walmart so she will have one), but have on most of the Visa/MasterCards.

Scupra · ‎11-07-2015

Each person should build their own credit profile. Like said, some lenders don't look at AU history.

Also, just because Cap1 doesn't pre qual you doesn't mean you won't be approved.

Dis0314 · ‎11-08-2015

@Scupra wrote:
Each person should build their own credit profile. Like said, some lenders don't look at AU history.

Also, just because Cap1 doesn't pre qual you doesn't mean you won't be approved.

Sounds like a plan.. This is going to be a new thing for us. We've always lived on my credit, all the cars everything. All she had were some retail cards and a student loan, no auto loan in over 15 years.

So so do I cancel the auth user or it doesn't matter?

Scupra · ‎11-08-2015

As long as you keep the utilization in line it shouldn't matter! Just don't rely on an AU account.