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New Contributor
Posts: 66
Registered: ‎09-04-2008
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Re: 18 Year Old and Credit Cards

MM, I am sorry to say your conclusion was wrong. Have you taken into account the possibility that your AU status is not being taken into consideration when calculating your FICO score because the creditors are not reporting to CRAs? If they start reporting, then your score will reflect your AU accounts.

 

It is possible that if you have a different address from that of the primary account holder, your creditor will not report AU. Some creditors do not report AUs at all. If you run a search on this board for this information, you can find multiple posts stating the same.

 

Your best bet is to contact the creditors and inquire or request reporting.

 

I also have a piece of friendly advice to you. While I can appreciate you wanting to learn at your age about credit and finances, I would advise that you remain respectful in your posts. Some members who may be able to offer you advice may be put off by your attitude. The moderators on this board are very knowledgeable and have had a great success in maintaining and/or improving their scores. So have a lot of the members.

Regular Contributor
Posts: 125
Registered: ‎08-08-2009
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Re: 18 Year Old and Credit Cards

The AUs is on all of the reports. Except transunion, which only has the VISA AU account. To clarify.
Regular Contributor
Posts: 125
Registered: ‎08-08-2009
0

Re: 18 Year Old and Credit Cards

[ Edited ]
Message Edited by MMart078 on 12-06-2009 03:27 PM
Valued Contributor
Posts: 2,682
Registered: ‎07-29-2009
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Re: 18 Year Old and Credit Cards


MMart078 wrote:
I would like to get back to my question everyone. Please! I apologized. Thats it. Now back to the question. I have a very low tolerance to BS. ----BACK TO THE QUESTION.

...as do most of the posters here.

Regular Contributor
Posts: 179
Registered: ‎10-21-2008
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Re: 18 Year Old and Credit Cards

 


MMart078 wrote:

 Well questions are is this enough credit for my page with an income of 67k and how much should I expect to have in about 2 years?

 


You currently have enough credit for someone of your age & income.
How much you'll have 2 years from now will depend in large part on the overall economic climate. At the moment, banks are much more cautious about granting unsecured lines of credit than they were a few years ago. Perhaps that will change over the next 2 years. Then again, perhaps it will not.
 

MMart078 wrote:

 

 I have a very low tolerance to[sic] BS.

 


 

 So do we.

 

 

 

 

 

Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: 18 Year Old and Credit Cards

MMart, I've done some investigating, and whatever is going on with your not having a score, it is not because the older AU cards are being ignored simply due to being AU cards. This if from the myFICO admins, and they know how the scoring formulas work. If the AU accounts are showing up on the full credit reports that are maintained by the individual credit agencies, and they have an opening date more than 6 months old, you should have scores. According to the FICO guys, there are plenty of customers out there with only one or two accounts, both AU accounts, and they have scores.

So we were trying to figure out what might be happening. I noticed that you posted FAKO's, which you acknowledged as being such. I'm guessing that they came from some sort of three-in-one credit pull? How long ago did you pull them, and from where? One possibility is that these used to show and now for some reason are no longer showing. We've had members report that their AU accounts stopped being reported by the CRA's, probably because addresses didn't match and so forth. Also, if the AU accounts are being disputed by someone for some reason, they're being ignored for some factors. And I guess you've confirmed that the account holders haven't canceled your AU status.

Another possibility is that for some reason, you have multiple reports, and when AmEx tried to pull a FICO score (most likely from Experian, which is their usual CRA), they got a report without the AU cards. Again, this might be because of varying addresses.

Your best bet at this point, if you haven't already, is to pull your full reports, directly from each CRA. If you haven't already pulled your freebies, go to www.annualcreditreport.com and get them from there.

FICO scores are generated from the full reports that are maintained by the CRA's. They aren't generated from myFICO reports or any other third-party report reseller (TrueCredit, free-credit-report-dot-com, CreditSecure, and on and on.) If the AU reports are on your FULL reports, showing opening dates older than 6 months ago, then you have a genuine mystery. Perhaps split files, although having that happen on all three boggles the mind.

At any rate, it isn't because the older accounts are AU's and therefore being ignored. It's because for some reason, they're either missing from the full reports, or there's something funky about how they appear. Try pulling the full reports and see what's there.

Oh, and btw, FICO 08 isn't being used by that many lenders. So even if the let's-ignore-AU-accounts provision had been left in FICO 08, it would still be pretty irrelevant, as the chances are slim that your 08's were pulled.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Regular Contributor
Posts: 125
Registered: ‎08-08-2009
0

Re: 18 Year Old and Credit Cards

Thanks for the response.
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