Added as an AU. What should I do next.

[SwiftTone]

Here's a little background before I get into this. I applied for a CSP about a month and half ago. I was denied because I don't have a similar credit limit to the $5000 minimum CL on the CSP. I had my friend add me as an AU on his Capital One card with a $9500 limit, but it lowered my AAoA by 3 months. My FICOs are in my signature. My credit profile is as follows:

AAoA: was 3 years 11 months, now 3 years 8 months.

Inquires: Experian: 6 showing(last 2 years) 3 in the last year in including 1 from landlord, 2 in the last 6 months. On TU I have 2, none in the last year. On EQ I have 0 Cap 1: $1000 

Cap 1: $1250 

Chase Slate: $750 

AU on Cap 1: $9500

Utilization: around < 5% before and after AU 

To my understanding, FICO scores AAoA in 1 year increments. So going from 3 years 11 months to 3 years 8 months wouldn't hurt my score right?

The CSP is one of those elusive cards that I really want. The portfolio I want is a Chase checking acct, Freedom and Sapphire Preferred. I don't want to apply for a Freedom because I will able to PC my Slate to it later this year. 

So I guess I have a couple options:

1. Apply for the CSP again after the AU account reports on my CR. However, I am not sure how Chase will view me as an AU on the large Cap1 account. Will they be more comfortable approving me for a CSP, or will they just discount it because I'm just an AU. 

2. Apply for at a credit union because they're likely to give me a larger CL. After that, apply for the CSP again. How long should I wait to apply for the CSP after the credit union.

What can you guys tell me about DCU? 

 Thanks in advance! You guys have been really helpful!! Sorry if it seems I've been repeating myself for the last month lol but I really just want to take the right path.

[LS2982]

The AU account Chase will ignore as its not an actual line that you hold and have managed on your own. A CU may give you a good CL but if you get it id recommend you garden the account for at least a year so you can try to get your other cards to CLI and the INQ's can age.

[SwiftTone]

Thanks for the reply. Waiting for other's to chime in.

Forgot to add that my student loan of $4500 should be reporting soon, if not already. How will this affect my credit. 

[navigatethis12]

They probably will ignore the authorised user card because it is not yours. If it is automatically approved then you have nothing to be concerned about. I would suggest making sure the credit union card is something you actually want and not just something to get you a high limit. There is a chance they will not give you a high limit and then it would be a waste.

If the credit union does give you a high limit you should still wait at least six months to apply for the Sapphire. They will want to see what payment history looks like on the account. Especially since it  would be your first with that high of a limit, they will want to see how well you handle having that kind of borrowing power. You could of course try but I would say your chances would be better if you wait a little bit to establish history with the card.

It seems people on here are getting denied because of no similar credit lines but my sister got it with no similar lines. Her highest before the Sapphire Preferred was the Chase Freedom at 2500. They may have been able to see that she handles that account well so they know what her pay history is like and that could have influenced it. So since you have a Chase card already it may help you out.

Anyway, if you really think the credit union will give you a 5000 limit then I guess go for it. Still I do not think you should apply as soon as you get it though, or as soon as the authorised user account reports.

[SwiftTone]

---

@navigatethis12 wrote:

They probably will ignore the authorised user card because it is not yours. If it is automatically approved then you have nothing to be concerned about. I would suggest making sure the credit union card is something you actually want and not just something to get you a high limit. There is a chance they will not give you a high limit and then it would be a waste.

If the credit union does give you a high limit you should still wait at least six months to apply for the Sapphire. They will want to see what payment history looks like on the account. Especially since it  would be your first with that high of a limit, they will want to see how well you handle having that kind of borrowing power. You could of course try but I would say your chances would be better if you wait a little bit to establish history with the card.

It seems people on here are getting denied because of no similar credit lines but my sister got it with no similar lines. Her highest before the Sapphire Preferred was the Chase Freedom at 2500. They may have been able to see that she handles that account well so they know what her pay history is like and that could have influenced it. So since you have a Chase card already it may help you out.

Anyway, if you really think the credit union will give you a 5000 limit then I guess go for it. Still I do not think you should apply as soon as you get it though, or as soon as the authorised user account reports.

---

When you say "If it is automatically approved then you have nothing to be concerned about. " you are referring to the application of the CSP correct? I should only worry about it if the application goes into manual review? The automatic approval process does not pick out AU accounts? What would happen if I freeze EX(80% of my inquries are on EX) and they try to pull a report? Will it automatically go into manual review or automatically pull another CRA?

Honestly, I don't have much desire to use the CU CC. I'm using it as a stepping stone to get a high initial limit for other cards I want. I could always apply to see what type of CL they will offer me. I know DCU pulls exclusively EQ, and I don't have any inquiries at all EQ. TU I have 2 which are over a year old.

[Topher227]

I know for a fact they will ignore the AU account. I am AU on a BofA Signature ($13k CL), and a Barclays iTunes ($4200 CL).... i need to remove myself from these, but that is a different story.

When i app'd for my CSP and spoke with their credit analyst, she vocally went through my credit file and limits with me.... when she got to the two above cards she stated that i'm an AU, and it wouldn't help my application chances. They are looking for YOUR OWN credit limits.

Good luck!!!!!!!

[navigatethis12]

---

@SwiftTone wrote:

---

---

When you say "If it is automatically approved then you have nothing to be concerned about. " you are referring to the application of the CSP correct? I should only worry about it if the application goes into manual review? The automatic approval process does not pick out AU accounts? What would happen if I freeze EX(80% of my inquiries are on EX) and they try to pull a report? Will it automatically go into manual review or automatically pull another CRA?

Honestly, I don't have much desire to use the CU CC. I'm using it as a stepping stone to get a high initial limit for other cards I want. I could always apply to see what type of CL they will offer me. I know DCU pulls exclusively EQ, and I don't have any inquiries at all EQ. TU I have 2 which are over a year old.

---

Usually when an application is instantly approved, it goes by your score, credit age, utilisation, inquiries and sometimes the high balances that have been on the cards(not currently but over the lifetime of the card). Every company is different, but from what I understand those are the main things. For the Chase Sapphire Preferred they may have an algorithm in place to look for credit limits but I would guess not. Since authorised user accounts are factored into your score just like another account it would boost it if they are old and in good standing.

I had Equifax frozen when I applied and when I rang in they said they needed the access code. So I told the analyst about the weird stuff that happens on there and he said he would be happy to pull another bureau. I said Transunion since it had some serious cobwebs and dust going on and he did.

If you really believe that the credit union will give you a high limit I say go for it. Personally I would not want to waste $5000 of credit on a bad card when I could get a better card with that limit. However, as you said you may not get the high limit with another bank. Really you have nothing to lose though.

[SwiftTone]

Are there any negatives if I just open a CU CC with a balance I want, and not use it?