Auth user

[jbradey]

Ok so my wife and i are in the works of maybe purchasing our home. She has no type of AAoA as she just got her first cc 3 months ago. Her fico is 637 just cause her uti was 80% when the statement came out only $500 limit, the uti is at 0% rightnow. She has never had any loans or baddies. If i was to put her on my oldest cap one card which was opened 3/2013, never had the uti over 20% when statement came out with a flawless payment history. What are all the positives this can do for her credit?

[JSS3]

Raise her scores and give her history.

[jbradey]

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@JSS3 wrote:
Raise her scores and give her history.

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Thanks

[Anonymous]

Auth user won't have as big of an impact as her getting her own card but it'll be a nice booster. Some CCC's take it more seriously than others.

Honestly though, I'm not sure it will be enough of a booster to make it worthwhile to put her on the mortgage. With a 637 right now, the AU will help but mortgage lenders tend to give preferential pricing at 740 or above, and she definitely won't gain 100 points from an AU. If you have flawless credit, I'd leave her off the mortgage app as you'll end up shelling out a lot more for your mortgage. If your credit is also flawed, maybe it won't make as much of a difference.

Also depends on how much you're putting down. Some companies will overlook low FICO's from a pricing standpoint, if you have 30 or 40% equity.

Source: Worked for a major national lender for 6+ years.

[JSS3]

Updated:

She will inherit your credit history, more overall credit, lower overall utilization, and score boost.