07-16-2008 09:57 PM
07-17-2008 09:05 AM
07-17-2008 12:09 PM
1. will his bad credit affect mine negatively if i make him an AU on one or both of my cards ive had for a while or one of my new cards?No.
2. the 2 cards ive had for almost 2 years are Credit One Bank and Cap1...do they allow you to add an AU?I don't know. Call them and ask.
3. my new cards is Hooters MC and Chase Student MC...do they allow me to add an AU???I don't know. Call them and ask.
4. How long do i have to keep him on there before it starts reporting on his credit?When you add him as AU, it should report for him as soon as the card reports on its normal monthly schedule, which could be up to 30 days. If it doesn't the first time, then it likely will the second time. So it could be up to 60 days or so.
5. What happens after I take him off?The account will be removed from his report.
6. How much will this help him?Too many variables to answer this. It depends on the history of the cards being added, how old they are, what the current reported utilization is on them, etc etc.They probably won't help much. Adding new positive accounts is a good way to dilute bad history when that bad history is very old, but he is still going to have recent lates, which are going to hurt him for some time to come no matter how many new positive accounts he adds.Also, he's going to be dinged for new accounts if you add any that are less than 12 months old. Your AU accounts may also lower his average age, which could hurt.There's really no way to give a good answer without much more information.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.