Credit Cards Center Credit cards from our partners
Reply
Valued Contributor
Posts: 2,360
Registered: ‎09-16-2011
0

Re: ADDING FAMILY AS AU ON CC's?

Probably not much help adding them as an AU at this point, BK and repo's are autodenials, and when you recon they will look at the AU tradelines and see its not there card, and will want you to co-sign for new cards if they just don't reject the recon all together, AU's help most no credit or thin credit files.

 

Work with them on repairing the damage, PFD and GW letters perhaps get them a secured card or two for a few hundred dollars each and let them get some good tradelines in their own name that wont get dismissed as just an AU tradeline. I'm not an expert on Bankruptcy but I thought  BK took off all the bad marks and all trade lines included in the BK and put the BK on the report, so it should be clean except for the BK entry if they have learned their lesson and not had any new problems. Might be time to dispute any entries that should of been removed in the BK.

 

 

 

 

 

 

Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak/Freeom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5.5k Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 7k, Discover IT 15.5k and a nice stack of store cards.
Last APP/HP 9/5/2016
Highlighted
Valued Contributor
Posts: 1,411
Registered: ‎03-22-2012
0

Re: ADDING FAMILY AS AU ON CC's?

I commend you for wanting to help your parents. I do however think you should help them repair the credit they do have first. You might just be giving them an oppurtunity to dig a deeper hole.

 

A lot of us here never valued our credit until we labored through the credit rebuilding process for ourselves. Once you have to do all the work it takes to recover, it focuses all your credit decisions on where they should be. Don't buy it with credit unless you can pay for it!

 

If I have learned one thing here, it is to start a rainy day fund. Just look around these forums and witness how many people have been rained on sooner or later and weren't prepared. The house of cards falls pretty fast in the rain.


Starting Score: EQ 653 6/21/12
Current Score: EQ 738 8/5/16 - EX 828 8/5/16 - TU 739 8/5/16
Valued Contributor
Posts: 2,489
Registered: ‎01-22-2012
0

Re: ADDING FAMILY AS AU ON CC's?


jamie123 wrote:

I commend you for wanting to help your parents. I do however think you should help them repair the credit they do have first. You might just be giving them an oppurtunity to dig a deeper hole.

 

A lot of us here never valued our credit until we labored through the credit rebuilding process for ourselves. Once you have to do all the work it takes to recover, it focuses all your credit decisions on where they should be. Don't buy it with credit unless you can pay for it!

 

If I have learned one thing here, it is to start a rainy day fund. Just look around these forums and witness how many people have been rained on sooner or later and weren't prepared. The house of cards falls pretty fast in the rain.


+1. If you don't trust them as they are now, you should think twice before adding them as AUs.

 

It's one thing to help them once you feel that they're on their way, but if they still have bad attitudes or risky habits that make them prone to overspending then it's a bad idea.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Frequent Contributor
Posts: 386
Registered: ‎01-20-2012
0

Re: ADDING FAMILY AS AU ON CC's?

Parents got sick at about the same time, I don't see any bad fiscal habits in that. Not everyone who falls behind on debt did so because they were careless...

 

To the Op: Helping your parents is commendable, good for you. Smiley Happy

Citi Double Cash $15,000 / Barclaycard Rewards $8,900 / CapOne Platinum $7,450 / BofA Cash Rewards Visa Sig $7,000 / BofA BankAmericard Visa $3,500 / eBay MC $5,800 / Chase Freedom $1,500 / Discover It $2,300 / Amex Zync / Lowe's $8,500 / JCP $4,800 / Walmart $5,000 / Amazon $4,100
Super Contributor
Posts: 6,677
Registered: ‎04-07-2008
0

Re: ADDING FAMILY AS AU ON CC's?

I would add them as AU but not give them a card. You're trying to help their credit profile and sometimes having serious derogs will overshadow everything.

 

You're doing the right thing but remember you can only do so much when it comes to credit.




Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: ADDING FAMILY AS AU ON CC's?


creditbakudan wrote:

it can help, but remember you never hav to give them the cards for it to have a positive effect. With some business cards you can set down the limits to each cards as well.


Welcome to the forums!!!

 

I agree with keeping the cards, you can help w/o having to incur further debt.




EQ FICO 548 3/3/16

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.