Reply
Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

AU accounts

I've asked the same kind of question before. What do you think may happen if you add 3-4 AU accounts with perfect history to the new file with NO history at all. As far as I understand the scores should be really high (long perfect history, no baddies). Did anybody had experience of applying for any major cards with this type of credit? Any success? I assume most of them should be approved instanltly, the ones that will get reviewed will most likely be declined... Any experience?
Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: AU accounts

I mean recent experience after the lending standarts have tightened. Thank you
Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: AU accounts

bump
Valued Member
Posts: 33
Registered: ‎01-27-2009
0

Re: AU accounts

I have been added as an AU on two cards with a total of around $21,000 total credit available. Both cards carry zero balances. One has been open for 12 years, one of 7 years. My personal CR's are thin. The addition of these cards certainly helped the scores. Mine are around 750 (+/-) with TU and EQ.

 

The AU's have not helped in any way with being approved. I have applied with Chase and Jared and been denied on both of them. Both the letters stated not enough TL's reporting open. I called the Chase backdoor number and they told me they required 3 TL's open for 2 or more years with perfect payment history.

 

I am sure other's on here have more experience and better advise, but I have found the AU's don't really help at all unless you are just looking for a score boost. If you have good TL's established, that might work better for you. However, the places I have applied to do not count AU's in their decisions.

Frequent Contributor
Posts: 261
Registered: ‎01-20-2009
0

Re: AU accounts

My spouse had no credit before I added her as an AU to four of my 20 y/o Amex accounts that I never used. She has not been denied anything since then and has all the prime cards with 5 digit limits. She is also a student with no income. IME the score has meant everything and none of the issuers have looked beyond it with the exeption of one CU. They asked for a tax return before approving a CLI on two 7.5K cards she has with them. She just told them no and to forget about the CLI. IMO the score is all that matters for most issuers as long as there is age that goes along with it.
Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
0

Re: AU accounts

I agree that multiple 20 year, perfect accounts, long AAoA is going to be adequate most of the time.

 

PenFed usually does not instant approved, but sometimes they do.  NFCU reviews most apps, but they instant approve some.  Alliant instant approves (without even asking about income or HHI).  AMEX has instant approval processes....so do most issuers.

 

If you ask for a specifically VERY BIG CL, this may require a review, but once you get to a certain "aged" FICO, then the lenders line up.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: AU accounts

Thank you, guys! Hobojon, can you name the particular banks that approved your wife with your AMEX AU? When did that happen? Thanks again!
Frequent Contributor
Posts: 261
Registered: ‎01-20-2009
0

Re: AU accounts


Lexa wrote:
Thank you, guys! Hobojon, can you name the particular banks that approved your wife with your AMEX AU? When did that happen? Thanks again!

BofA/Merrill, Citi, Chase, Amex, USAA, National City cards were all apped and approved 12-18 months ago with no credit prior to AU cards.

 

Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: AU accounts

 

Wow... do you know what her scores were at that time? Anybody else got approved with solely AU accounts on their report recently?

Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
0

Re: AU accounts

My daughter was approved for CapOne $1k with only AU's, but then app'ed NFCU and got $8k.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
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 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.

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.