Credit Cards

[amercnchopz34]

I was just wondering  ??  My better half has 2 cc....citi bank and discover....has had them for 15 + yrs

Each of those cards has a 20,000 limit.....

i have a BK reporting  from 2005.....would her puttung me as a AU on her account hurt her credit and or help mine?????

Just wondering

[jsucool76]

It wont hurt her, and may very well help yours, although if put under manual review an underwriter can see it is AU account. Also if she has any negs you inherit them with au status.

[amercnchopz34]

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jsucool76 wrote:
It wont hurt her, and may very well help yours, although if put under manual review an underwriter can see it is AU account. Also if she has any negs you inherit them with au status.

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her history is spotless....no baddies at all......she wont do it because her CPA said that it would affect he credit....

[bribro]

I don't mean to threadjack, but this is related to the OP's topic. I am an AU on my DGF's Chase Freedom card (even though I have one under my name). Does her having a high balance (and thus high utilization) hurt me?

[jamesdwi]

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bribro wrote:

I don't mean to threadjack, but this is related to the OP's topic. I am an AU on my DGF's Chase Freedom card (even though I have one under my name). Does her having a high balance (and thus high utilization) hurt me?

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Yes on most fico scores  AU  UTL effect your score as well. But most companies also use an internal scoring system that may choose to disreguard AU TL's so they won't effect you in some cases.  YMMV

[jsucool76]

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amercnchopz34 wrote:

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jsucool76 wrote:
It wont hurt her, and may very well help yours, although if put under manual review an underwriter can see it is AU account. Also if she has any negs you inherit them with au status.

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her history is spotless....no baddies at all......she wont do it because her CPA said that it would affect he credit....

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AFAIK her CPA is wrong.

All that happens is the card starts reporting on your reports. Nothing happens on her end except they ship out a new card with your name on it. She doesnt't even need to give you the card, she can shred it. 

[Jazzzy]

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amercnchopz34 wrote:

her history is spotless....no baddies at all......she wont do it because her CPA said that it would affect he credit....

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No...it won't hurt her credit...and it will likely help yours. You may not want to do it if she lets high balances report each month, but if her utilization is low, it should help you. My husband and I are AUs on eachothers cards.

[Jazzzy]

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bribro wrote:

I don't mean to threadjack, but this is related to the OP's topic. I am an AU on my DGF's Chase Freedom card (even though I have one under my name). Does her having a high balance (and thus high utilization) hurt me?

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I took myself off of an AmEx that my son had given me. He has excellent credit, but he let an approx $3k-6k balance report every month and then paid it off before the due date. He never carried a balance from month-to-month, but, of course, his balance reported each month. I can't recall, but it seems that one or two of the CRAs included his balance in my utilization. I hated to say goodbye to a 1989 AmEx, but I couldn't take the utilization.

[sccredit]

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Jazzzy wrote:

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amercnchopz34 wrote:

her history is spotless....no baddies at all......she wont do it because her CPA said that it would affect he credit....

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No...it won't hurt her credit...and it will likely help yours. You may not want to do it if she lets high balances report each month, but if her utilization is low, it should help you. My husband and I are AUs on eachothers cards.

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^^^Not sure why the CPA would tell her that.  She should trust her CPA with tax advice not credit advice. 

[Wolf3]

From a FICO score point of view, it will only affect you, not your wife.

But if your wife adds you to one of her cards, that bank could review your credit.   That bank could make a decision on credit based on both reports, especially under manual review.  

I think that the correct answer is "Maybe".