Benefits of AU

[Anonymous]

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@Anonymous wrote:

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@Duffenbrau wrote:

Thank you for the response! I have plenty of credit of my own, and pretty long history at this point, so I'm not on there really for those benefits, just trying to make sure she gets her signup bonus on these cards. Since I am though, I'm mostly just wondering how exactly these cards will effect my reports, and if they both report AU's? Also, if this gives me an MSD with AMEX?

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No, it will not give you an MSD with AmEx. It wont have much effect at all in my opinion. Maybe someone else can chime in, but in my experiences, AU accounts dont do a whole lot.

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Actually. If you're not already a basic cardmember, Someone adding you to their new AMEX will put some history on your books...In time.

[takeshi74]

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@Duffenbrau wrote:

My question is what are all the benefits for me of being on these?

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Impossible to say without knowing the details.  All making an AU does is add the tradeline to the AU's reports if the account is one that reports for AU's.

So for creditors and scoring models that consider accounts where you're an AU the account is factored in along with all your other accounts.  Keep in mind that there are creditors and scoring models that completely disregard accounts where you're an AU and that those accounts will have no effect for those creditors and scoring models.

If the tradeline is positive it can help.  If the tradeline is negative it will not help.  There is no one-size-fits-all effect of being added as an AU.

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@Anonymous wrote:

No, it will not give you an MSD with AmEx.

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That is incorrect.  My wife's MSD is when she was added as an AU on my BCP.  She got her own first AmEx a year later (backdated to her MSD).

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@improvingmycredit wrote:

Everything that is charged and reported on either account will also show up on your report as your debt so beware of what is reported each month. 

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This could be misinterpreted.  Individual charges are not reported.  The account shows up on the AU's reports just as it does for the original cardholder with the exception of the AU notation for the AU (and the difference in account open if the account is an AmEx account).

[improvingmycredit]

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@takeshi74 wrote:

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@Duffenbrau wrote:

My question is what are all the benefits for me of being on these?

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Impossible to say without knowing the details.  All making an AU does is add the tradeline to the AU's reports if the account is one that reports for AU's.

So for creditors and scoring models that consider accounts where you're an AU the account is factored in along with all your other accounts.  Keep in mind that there are creditors and scoring models that completely disregard accounts where you're an AU and that those accounts will have no effect for those creditors and scoring models.

If the tradeline is positive it can help.  If the tradeline is negative it will not help.  There is no one-size-fits-all effect of being added as an AU.

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@Anonymous wrote:

No, it will not give you an MSD with AmEx.

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That is incorrect.  My wife's MSD is when she was added as an AU on my BCP.  She got her own first AmEx a year later (backdated to her MSD).

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@improvingmycredit wrote:

Everything that is charged and reported on either account will also show up on your report as your debt so beware of what is reported each month. 

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This could be misinterpreted.  Individual charges are not reported.  The account shows up on the AU's reports just as it does for the original cardholder with the exception of the AU notation for the AU (and the difference in account open if the account is an AmEx account).

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With all due respect, there is no misinterpretation.  What is reported on the credit report after statement cut is reported to both primary and AU's CR.  If the AU runs up balances and the amounts are allowed to report by the primary... It affects both.  Conversely, what ever the primary allows to report to the CBs... The AU has no say so over and can affect the AUs report both positively or negatively.