01-29-2013 10:21 PM - edited 03-04-2013 08:04 PM
I posted the following on the FICO score section, but need some advice on my next steps for applying for credit, mainly Discover IT.
So apparently I am an AU on one of my older brother's credit cards. He has been racking up to 95% of the card's utility for quite some time now (having trouble paying it off). Unfortunately, this account is also my oldest TL (6 yrs). His util is really killing my overall util at 46%, and I know this will hurt my chances on applying for future credit.
My question is, if I have him take me off as an AU, how will that report on my credit reports? Will the util history still remain and destroy me? Will my AoAA decrease?
Some relevant info:
Overall utility: 46% under my brother's card. 22% on my own cards.
FAKO scores (Privacy Guard): EX 712, EQ 679, TU 707, CreditKarma 752.
AAoA: 3yrs 4mo, No baddies.
22yo, Income 40k
$9900 US Dept Education loans reporting, for last 4 years. I paid them off last December but they have yet to report to the CRAs??
I am really interested in Discover IT or AMEX Blue Sky, both of which I have pre-approval mail from. But I don't know how they would respond to the high util %. Any advice is appreciated!!
01-29-2013 10:28 PM
Depending on how many INQ's you have you should be alright.
01-29-2013 10:43 PM
You got a good chance, I would apply for the IT card because the rewards are nice and no fees especially if you have a targeted offer. Good luck and keep us posted
01-29-2013 10:49 PM
Go for IT
01-29-2013 10:56 PM
Yes go for discover the thing they most hate is seeing inquries and yours are very low and i asume they must be aging right? if so your possibilites of getting a IT card is great!
01-29-2013 10:57 PM
so I shouldn't worry about the high utilization that my brother is causing? And currently all of my cards are reporting a balance...should I PIF and wait for the 0 balances to report? Also, will the school loans hurt me since it isn't reporting as PIF? Thanks for the input guys!
01-29-2013 11:02 PM
I honestly think you're going to be fine, plus you can afford the HP if you somehow get denied.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.