@Anonymous wrote:
@Anonymous wrote:
@takeshi74 wrote:When a TL where you are an AU is considered -- it will not be in all cases -- the TL is considered like any other TL. All factors matter.
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
@Anonymous wrote:The Chase is affecting my score and even though it's 65% uti atm before that I had no credit to speak of. If it wasn't for him adding me to that card I probably would've never gotten my Amazon Store card back in Dec. for $1400 from 1st app.
Being an AU is not inherently beneficial. If a TL has high utilization it is not helping you. All being an AU means is that the TL shows up on your reports (for TL's that report for AU's) and factors into your credit in cases where it is considered. If a TL has negative Payment History, high Revolving Utilization, is a new account, etc then it will generally not be beneficial. Consider the typical relative weights of the factors above as those still apply. Note that Amounts Owed (which Revovling Utilization falls under) is a much bigger factor than Length of Credit History (which AAoA falls under).
@Anonymous wrote:Question is...do we wait until his credit reports show the new balances or is it safe to add me now because the balances are at $0?
Even if they report the same data as they currently are for him your revolving utilization would drop on the next update.
I've been an AU for the Chase since it opened 11mo ago before we knew anything about utli. Currently his CR's don't reflect the $0 balances or lower uti on the Chase because they haven't reported yet. Thats' why one of my other questions were if we should wait to add me as AU before or after his CR's relfected the new balances. I have since found out that adding me now is more benefical because when the CC's report the new balances, they will be reporting me as well. Or at least I hope that's the case.
Edit to Add: His new credit scores should rise quite a bit and since we've never tried to get a CLI with Chase we're hoping that will be possible after the CC's report. Which in turn will lower UTI quicker while we're trying to pay it down.
I wouldn't hold my breath for a CLI with Chase. They do give some auto CLI, but they're definitely not guaranteed or predictable. And any CLI requested is a HP. For Chase, the better strategy is to app for a new card and then move CL if desired. (Still a HP and possibly two with Chase, so of course one would need to evaluate if that is a good idea for them.) Also the co-branded cards with Chase anecdotally offer higher limits (some have said it's because many are Visa Sig).
Overall, sounds like you guys are moving in the right direction, congrats!
Thanks for the advise...it looks like the Chase Freedom might be the one to go with, plus it has nice perks. Do you think if they give us a low SL that we can recon over the phone or chat? And thanks for the encouragement 