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!!
Depending on how many INQ's you have you should be alright.
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
Go for IT
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!
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!
I honestly think you're going to be fine, plus you can afford the HP if you somehow get denied.