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So after I upgraded my cards and figured out the best way to utilize my cards to get the best score, I decided to work on my GF's score a bit. Before we started she was mid 680s for all scores (685 eq, 688 tu, 683 ex) mid January. One collections account (falling off in a year), one judgement (getting removed very soon), mortgage, one credit card (BoA AK Air: $1400 CL) and a car loan. AAoA 8yrs, oldest account 14 years.
I added her on as AU on my CSP ($18k limit) and AMEX ED ($10k limit). We just logged onto her account to check her scores and lo and behold, she's at 725 eq, 724 tu, 714 ex! This really helped with her utilization but wow I didn't know the impact would be so great!
Just gotta thank you all one more time, this forum has completely changed our lives!
Awesome man.
I, we, are anxiously waiting to see the accts reports that I put my GF on...$10k CapOne and $17k Lowes.. The CapOne is 5yrs old so she'll get all that history. Not sure is she'll get the 2 yr Lowes history.
She's in the mid 600's, some good TL's (Quicksilver, Walmart, Best buy, positive paid loans, positive current auto loan), some small medicals from 5 yrs ago, a BK that will be gone in Oct, and I hate to say but 2 unpaid collections for utilities that were reported last year, but were from an old residence 5 yrs ago...aaarghh...yeah, I'm not happy with that/her.
I'm hoping for a 20 pt increase for her, but not expecting much more than that ....Those recent unpaid collections are definitely a boat anchor for her.
@racer-x wrote:Awesome man.
I, we, are anxiously waiting to see the accts reports that I put my GF on...$10k CapOne and $17k Lowes.. The CapOne is 5yrs old so she'll get all that history. Not sure is she'll get the 2 yr Lowes history.
She's in the mid 600's, some good TL's (Quicksilver, Walmart, Best buy, positive paid loans, positive current auto loan), some small medicals from 5 yrs ago, a BK that will be gone in Oct, and I hate to say but 2 unpaid collections for utilities that were reported last year, but were from an old residence 5 yrs ago...aaarghh...yeah, I'm not happy with that/her.
I'm hoping for a 20 pt increase for her, but not expecting much more than that ....Those recent unpaid collections are definitely a boat anchor for her.
I'm curious to see the lift on that as well. Different circumstances but it'll be nice to see the impact she receives from the AU add. Please keep us posted!
@Anonymous wrote:So after I upgraded my cards and figured out the best way to utilize my cards to get the best score, I decided to work on my GF's score a bit. Before we started she was mid 680s for all scores (685 eq, 688 tu, 683 ex) mid January. One collections account (falling off in a year), one judgement (getting removed very soon), mortgage, one credit card (BoA AK Air: $1400 CL) and a car loan. AAoA 8yrs, oldest account 14 years.
I added her on as AU on my CSP ($18k limit) and AMEX ED ($10k limit). We just logged onto her account to check her scores and lo and behold, she's at 725 eq, 724 tu, 714 ex! This really helped with her utilization but wow I didn't know the impact would be so great!
Just gotta thank you all one more time, this forum has completely changed our lives!
Nice.. Congrats to you and DG...
@thelethargicage wrote:
Just make sure you don't give her the actual card...otherwise your utilization's gonna go down the crapper. Trust me.
+1. If you actually give her a card it will all end in tears, trust me. This is especially true because it sounds like she has util issues.
@Anonymous wrote:This really helped with her utilization but wow I didn't know the impact would be so great!
Utilization falls under Amounts Owed. Note the size of that slice. It's why getting utilization in check is often suggested (second to addressing any derogs) as a way to improve one's credit.
I'm less pessimistic than the others, but remember that you are responsible for all charges on that card, regardless of which of you makes them. Now might be a decent time to get her another card in her own name, and then start weening her off of your cards. Either way, good luck with improving your family's credit health!
There's no way in hell I'm giving her the cards. I've had the CapOne card of hers for awhile...she hasn't even seen it.
I wouldn't let my mother have a card.
My daughter does have the AMEX BCP I gave her, but I was able to put a $1k cap on it. She's not getting the CSP though.
Remember these words of wisdom from Jack Nicholson on "As Good As It Gets" when even considering handing a credit card to your wife or girlfriend:
When asked how he knows women so well, "I think of a man...and then I take away reason and accountability."