Approval for CSP/Explorer/Club? Stats…

[Kozmo]

At 60% total util id say his chances are slim.

I would pay that down as much as you can and apply.

With 60% total util its likely one of this cards is close to maxed, if not maxed.

I would wait if I were you but it's your call. If you have an inquiry to burn then take a shot and you may have to call recon. But ymmv

[jkeames12]

I guess I got a lot of conflicting answers here. Sorry, my fault, i should have bolded my main concern:

So being an AU from my fathers account doesn't help my chances at all? Or is it something that we don't know for sure?

[wHiTeSoL]

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@jkeames12 wrote:

I guess I got a lot of conflicting answers here. Sorry, my fault, i should have bolded my main concern:

So being an AU from my fathers account doesn't help my chances at all? Or is it something that we don't know for sure?

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From all I've seen here Chase ignores AU data, it's one of the risks of relying so heavily on AU accounts. It certianly helps you overall, just certian lenders choose to not give it as much weight. 

[Kozmo]

I don't think chase will consider them.


Can you break down your accounts?

Creditor/balance/limit?
How long has slate been open?

Do you bank with chase?

What is your AAOA with out the AU factored in?

Income?

[youngandcreditwrthy]

In an auto decision, the AU account WILL help you...
Under manual review, it will not bc the Analyst will be able to see that it's AU.
I think you will be auto approved.
Afaik, FICO has not been made to discriminate between AU accounts and NON AU accounts.

[Kozmo]

I could be wrong but I thought chase's internal scoring system is what doesn't factor in AU...not a manual reviewer.

They don't use an exact fico score like you would get here.. It's an internal that chase uses


Again, I could be wrong but I thought that's how it worked with chase.

[youngandcreditwrthy]

Their score is more like a vantage score. The range is like 200-900 iirc.

[09Lexie]

@Kozmo

You aren't wrong. Chase definitely uses an internal scoring similar to Amex. I have to believe that their system does not take factor in AU accounts .

[jkeames12]

Everyone's responses has helped. Thanks. I decided not to apply yet, since my own 60% UTIL is too high. My own AAoA is 5.4 years. Not too shabby though, i'll wait when my UTIL is down then i'll apply

As I understand, Chase uses it's own internal scoring system which doesn't really account for AU's.

I also read this on the internet:

http://www.bankrate.com/brm/news/cc/...d-users-a1.asp

Quote:

"On July 31 [2008], Fair Isaac announced that its latest credit-scoring model, dubbed "FICO 08," will include authorized user accounts when calculating someone's FICO credit score....FICO 08 was originally designed to ignore authorized user accounts, in an effort to stem "piggybacking" on a stranger's credit card and artificially inflating one's score....Fair Isaac said lenders complained that using FICO 08 would inhibit compliance with Federal Reserve Regulation B, which requires lenders assessing a married person's credit risk to consider the credit history of accounts shared by the spouses.

Fair Isaac is keeping the specifics of the new analytic approach secret but says it has found a way to restore authorized-user accounts to the formula but also reduce the impact of piggybacking."

So it's good to hear that being an AU does help somewhat for other things and that I shouldn't be taking off as AU.

[youngandcreditwrthy]

I knew FICO considered AUs. Either way, gardening does the credir score well :-)