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Valued Member
ZiggstergetsaREFI
Posts: 29
Registered: ‎10-17-2012

Au vs. opensky cc to boost score

Hi, So I have no CC's right now. All the simulators say to get a CC to improve score. I don't want a hard pull. Trying to improve score in preparation to refi my mortgage. I researched (with the help of all of you here) getting secured opensky. Now I'm reading about becoming Authorized User. My husband open one CC last year. My questions are:

 

1. Will they do a Hard Inquiry for me to be AU?

2. Will it help my score to be AU?

 

Here are the details on his CC account:

 

Opened 4/17/2012

CL $1000

Balance: $0

 

We opened this for him to improve his score, so we have been diligent about keeping it paid off. We do use it to show activity.


He has other tradelines on his CR's that are adverse. - that won't affect my score, right?

 

My AAoA is 8 years.

 

Thanks!

 

 

Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,220
Registered: ‎10-02-2012

Re: Au vs. opensky cc to boost score

1.NO

2.YES

Will do you no harm but pure goodness :smileyhappy:


$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 5 months, Utilization 70%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Valued Member
ZiggstergetsaREFI
Posts: 29
Registered: ‎10-17-2012

Re: Au vs. opensky cc to boost score


BearsAndTurtlesRtheBest wrote:

1.NO

2.YES

Will do you no harm but pure goodness :smileyhappy:


Thanks, "Bears"! So, even though his account is less than a year old, it should help?

Valued Contributor
BearsAndTurtlesRtheBest
Posts: 3,220
Registered: ‎10-02-2012

Re: Au vs. opensky cc to boost score

[ Edited ]

even tho its less than a year old its better than having to revolving credit reporting :smileyhappy:


$600$800$1,000$500(AU) $2,500
EQ FICO---, EX FICO---, TU FICO---, AAOA 5 months, Utilization 70%, No delinquencies of any sort.
Inquiries on EQ: 19, Inquires on EX: 30, Inquiries on TU: 21, Gardening Since 06-25-14
Established Contributor
zerobacan
Posts: 726
Registered: ‎01-13-2013

Re: Au vs. opensky cc to boost score

However I ve learned here that underwriters will manually check your CR and AU are a not seen very good.

 

Why can you apply for a CC one little INQ will not hurt you more than having your own CC with a descent limit.

 

Amazon Credit card would give you a nice CL.

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Regular Contributor
mmmlive1999
Posts: 131
Registered: ‎12-18-2012

Re: Au vs. opensky cc to boost score

Look up:Victorias Secret Approval!!! On this same board if you want a store card that is a soft pull only. It does not upgrade to a visa or anything, I just did it and got a $250 limit instantly,some people get $500. It is only used in the store but it's a start! After all they report to all 3 CRAs.:smileyhappy:

Starting Score: 06/06/2012:FAKO TU 585/EQ 472/ EX 561
Current Score: TU98 688/TU08 644, EQ5.0 679/ EQ 680 (Cap1),
EX 652(Chase)/EX08 655

Goal Score: 700 by 12/2014
CC:Cap1 Venture-$3300, Quicksilver-$1750,Chase Freedom-$2200
Store Cards: Vic.Sec -$450, Walmart-$500 ,Gap $400( as of 3/28/2014)
Valued Member
ZiggstergetsaREFI
Posts: 29
Registered: ‎10-17-2012

Re: Au vs. opensky cc to boost score


zerobacan wrote:

However I ve learned here that underwriters will manually check your CR and AU are a not seen very good.

 

Why can you apply for a CC one little INQ will not hurt you more than having your own CC with a descent limit.

 

Amazon Credit card would give you a nice CL.


Thanks for the input, zerobacan. I'm curious about what you wrote regarding underwriters considering AU's as not a good thing. I'd like to learn more about that. Could you point me in the direction of where you learned that? Thanks!

Regular Contributor
SFernandez13461
Posts: 207
Registered: ‎02-24-2011

Re: Au vs. opensky cc to boost score

I got an OpenSky secured CC to get my foot back in the door, but after a year they wouldn't convert to an unsecured card or increase the limit or anything. Considering there's also an annual fee and minimum interest charges (at least when I had it), I ditched it and moved on to much better cards. If you can't get anything else, it's all right for building some history. But overall, it's not a great card in my opinion. 


Starting Scores: 10/9/10 EQ 632
Current Scores: (9/5/12) EX 761 EQ 657 TU 780
Derogs Removed: LVNV, Union Bank, EOS-CCA, Zenith Acquisitions, Marigold Financial, Credit Collection Services, California Business Bureau
Working On: Portfolio Recovery Associates, Midland Credit Management, Credit One
Frequent Contributor
jake619
Posts: 496
Registered: ‎11-13-2012

Re: Au vs. opensky cc to boost score


ZiggstergetsaREFI wrote:

zerobacan wrote:

However I ve learned here that underwriters will manually check your CR and AU are a not seen very good.

 

Why can you apply for a CC one little INQ will not hurt you more than having your own CC with a descent limit.

 

Amazon Credit card would give you a nice CL.


Thanks for the input, zerobacan. I'm curious about what you wrote regarding underwriters considering AU's as not a good thing. I'd like to learn more about that. Could you point me in the direction of where you learned that? Thanks!


To put it another way, AUing your way to a good score may be a successful method against automated scoring routines;however, a refi will require manual scrutiny and the benefits of the AU will be seen through as they in no way reflect your personal achievement(s).  So, good for online approvals when no manual review is needed, not good when your score misleads you because a lender sees through the tricks.


GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev




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