Credit Cards

[mum4519]

Quick question!

I recently proposed and am now engaged. My fiancee applied for a Chase Freedom card in case we needed to expense anything for our wedding we have the 15 months of 0%. Anyways, she got a card sent out to me. Whe I called to activate, turns out I am an authorized user. I know the process for AU's but I was wondering if Chase will report this to my credit bureau?

Simple question. Thanks all!

[BullsEye10]

First off ... Mazel Tov!

Second, yes, they will report it to the credit bureaus. 

I added my wife to my CSP, and the very next month it showed up on her credit report and factored in to her utilization rate (which gave her score a little bump).

Enjoy this time in your life ... it may be stressful (planning a wedding often is) but it is worth it ....

[mum4519]

Thank you sir, I appreciate it!

It has just begun but it will be a great time in each of our lives!

[webhopper]

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mum4519 wrote:

Thank you sir, I appreciate it!

It has just begun but it will be a great time in each of our lives!

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Congrats on the wedding!  Yes, it will report

[mum4519]

Is there any benefit for me trying to get added as a joint card holder as opposed to an AU?

[webhopper]

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mum4519 wrote:

Is there any benefit for me trying to get added as a joint card holder as opposed to an AU?

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Not really.. the only benefit of a joint card is that the CLs are sometimes larger because it can consider both of your incomes.  I'm not sure if Chase does joint accounts...  but other banks and credit unions can do joint cards

There are some drawbacks to joint accounts that you should consider before you get one.  I prefer the AU route myself.   An AU account can be easily removed from your Credit Report if you decide that you don't want the tradeline.  A joint account cannot.

I don't recommend joint accounts unless its for a large purchase where both incomes will be helpful. 

The only joint account my husband and I have is the car we just ordered.  Both mortgages are in my name only.  Which makes my DTI very high.  We applied for the car using his income as well, for three reasons

1. To give him a positive tradeline for rebuilding  (he currently has only 1 individual tradeline, and 3 AU tradelines)

2. To have his income considered for the loan approval since he makes 65k per year and has no payments

3. The credit union used the primary applicant's credit score to determine rate, so we wouldn't be penalized on rate by adding him... his score came in at 668, mine came in at 698 on our car application made on 10/13/12.  We got 1.79% for 60 months on a 45k loan.

[alboto]

Well Chase, Discover, and BofA will let you have joint accounts, but as webhopper said it's not a good idea.

[pt2005]

I tried to add AU on Chase Freedom online but the system only asks for First and Last name. It does not ask for SSN.

How does it know to report the AU? I have not added yet since I'm still trying to decide if it's worth adding

[Quips]

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pt2005 wrote:

I tried to add AU on Chase Freedom online but the system only asks for First and Last name. It does not ask for SSN.

How does it know to report the AU? I have not added yet since I'm still trying to decide if it's worth adding

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It reports based on name and address - I added my son to my Chase Freedom without providing his SSN and it showed up on his CR in a month.

[resilient]

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Quips wrote:

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pt2005 wrote:

I tried to add AU on Chase Freedom online but the system only asks for First and Last name. It does not ask for SSN.

How does it know to report the AU? I have not added yet since I'm still trying to decide if it's worth adding

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It reports based on name and address - I added my son to my Chase Freedom without providing his SSN and it showed up on his CR in a month.

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+1

I added my wife, thinking it wouldn't report, just so she could help me get the rewards. Well, she got an alert saying it showed up.