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Established Contributor
ExplicitElicit
Posts: 972
Registered: ‎02-18-2014
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Re: Garden Club Meeting - June 2014

Good morning GC! Getting the new truck washed this morning. 

Amex PRG - Amex ED - Chase CSP - Chase Freedom - Discover IT - Barclay Ring - Barclay Financing Visa - NFCU cashRewards - EnergyOne CU Visa - Walmart - Best Buy - Buckle Store - State Farm Student Visa - $34K Truck loan @ 2.7%
Regular Contributor
Cookie2120987
Posts: 144
Registered: ‎03-07-2014
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Re: Garden Club Meeting - June 2014


GooseGirl wrote:

Carrie_in_Pa wrote:

mongstradamus wrote:

what is the consensus on how fico scores count AU accounts. I thought AU accounts were factored in utilization ? Just curious because i was looking thru what account are reporting. I see that my Amex TE account, which i am on AU on. Main holder is my mother. Its showing 5% utilization, but this week i got an major ding of 20+ points, so i am guessing that its not being counted in fico scoring. So am i correct to assume that AU accounts don't count anymore when it comes to fico scoring?


I am really confused on how AU is working too. My bank LO said that i should go ahead and add my BF as AU because their system is going to continue to use the info for scoring. I don't get it with everything i've read about it no longer being considered.


 

Another one who is also pretty darn confused about how AU is working these days. I added my eldest child as AU to one of my cards; I'm hoping it will provide some benefit but I'm really not certain.


It will after about six months. My wife got a score right after my CC hit six months reporting that she was on mine, I than added her as a AU, to my quicksilver and her score jumped 15 points,. Being a AU is a very good way to start, I have an employee who's 20 now and a AU on 2 of her moms card and has been since she was sixteen and she's a joint application on a discover card and she's sitting at a 740 score with average age at 5 year!

Current cards. Capitol One: QuickSlver One $3,500 and $300 (AU) Capitol one secured $520 and $200 (AU) Élan Finicial $2,000 And $2,000 (Joint) Walmart $600 Amazon Store Card $600 Gamestop Credit Card $550 total credit $10,270 started at $200 12/1/2013 :smileyhappy:
Starting score 2/18/2013 486 Current scores, MyFico 9/21/2014 Equifax 634 Transunion 643 Experian 641
Contributor
GooseGirl
Posts: 163
Registered: ‎05-28-2014
0

Re: Garden Club Meeting - June 2014


Cookie2120987 wrote:

GooseGirl wrote:

Carrie_in_Pa wrote:

mongstradamus wrote:

what is the consensus on how fico scores count AU accounts. I thought AU accounts were factored in utilization ? Just curious because i was looking thru what account are reporting. I see that my Amex TE account, which i am on AU on. Main holder is my mother. Its showing 5% utilization, but this week i got an major ding of 20+ points, so i am guessing that its not being counted in fico scoring. So am i correct to assume that AU accounts don't count anymore when it comes to fico scoring?


I am really confused on how AU is working too. My bank LO said that i should go ahead and add my BF as AU because their system is going to continue to use the info for scoring. I don't get it with everything i've read about it no longer being considered.


 

Another one who is also pretty darn confused about how AU is working these days. I added my eldest child as AU to one of my cards; I'm hoping it will provide some benefit but I'm really not certain.


It will after about six months. My wife got a score right after my CC hit six months reporting that she was on mine, I than added her as a AU, to my quicksilver and her score jumped 15 points,. Being a AU is a very good way to start, I have an employee who's 20 now and a AU on 2 of her moms card and has been since she was sixteen and she's a joint application on a discover card and she's sitting at a 740 score with average age at 5 year!


 

Since my kiddo has 0 credit and is starting from scratch i'm hoping being an AU will help generate a score in less than 6 months. The card that is almost a year old. It should report in July; I am curious about what will happen then.




Starting Score: EQ 541 (lender pull July 2012)
Current Score: EQ FICO 673, TU08 648, EX FICO 654
Next Goal Score: 680
Established Member
Carrie_in_Pa
Posts: 284
Registered: ‎06-10-2014
0

Re: Garden Club Meeting - June 2014


GooseGirl wrote:

Cookie2120987 wrote:

GooseGirl wrote:

Carrie_in_Pa wrote:

mongstradamus wrote:

what is the consensus on how fico scores count AU accounts. I thought AU accounts were factored in utilization ? Just curious because i was looking thru what account are reporting. I see that my Amex TE account, which i am on AU on. Main holder is my mother. Its showing 5% utilization, but this week i got an major ding of 20+ points, so i am guessing that its not being counted in fico scoring. So am i correct to assume that AU accounts don't count anymore when it comes to fico scoring?


I am really confused on how AU is working too. My bank LO said that i should go ahead and add my BF as AU because their system is going to continue to use the info for scoring. I don't get it with everything i've read about it no longer being considered.


 

Another one who is also pretty darn confused about how AU is working these days. I added my eldest child as AU to one of my cards; I'm hoping it will provide some benefit but I'm really not certain.


It will after about six months. My wife got a score right after my CC hit six months reporting that she was on mine, I than added her as a AU, to my quicksilver and her score jumped 15 points,. Being a AU is a very good way to start, I have an employee who's 20 now and a AU on 2 of her moms card and has been since she was sixteen and she's a joint application on a discover card and she's sitting at a 740 score with average age at 5 year!


 

Since my kiddo has 0 credit and is starting from scratch i'm hoping being an AU will help generate a score in less than 6 months. The card that is almost a year old. It should report in July; I am curious about what will happen then.


I plan to do the same for my daughter but  i just haven't decided when. Since i have made mistakes in the past, i don't want to take any chances messing things up for her.


Starting Score: 382 - 418 (2005) -- Current Score: 628 (TU08) -- 661 (Beacon 5.0) -- Goal Score: 750+
Into the Garden 6-15-2014 -- Digging in the dirt until 6-2015
Regular Contributor
Cookie2120987
Posts: 144
Registered: ‎03-07-2014
0

Re: Garden Club Meeting - June 2014


GooseGirl wrote:

Cookie2120987 wrote:

GooseGirl wrote:

Carrie_in_Pa wrote:

mongstradamus wrote:

what is the consensus on how fico scores count AU accounts. I thought AU accounts were factored in utilization ? Just curious because i was looking thru what account are reporting. I see that my Amex TE account, which i am on AU on. Main holder is my mother. Its showing 5% utilization, but this week i got an major ding of 20+ points, so i am guessing that its not being counted in fico scoring. So am i correct to assume that AU accounts don't count anymore when it comes to fico scoring?


I am really confused on how AU is working too. My bank LO said that i should go ahead and add my BF as AU because their system is going to continue to use the info for scoring. I don't get it with everything i've read about it no longer being considered.


 

Another one who is also pretty darn confused about how AU is working these days. I added my eldest child as AU to one of my cards; I'm hoping it will provide some benefit but I'm really not certain.


It will after about six months. My wife got a score right after my CC hit six months reporting that she was on mine, I than added her as a AU, to my quicksilver and her score jumped 15 points,. Being a AU is a very good way to start, I have an employee who's 20 now and a AU on 2 of her moms card and has been since she was sixteen and she's a joint application on a discover card and she's sitting at a 740 score with average age at 5 year!


 

Since my kiddo has 0 credit and is starting from scratch i'm hoping being an AU will help generate a score in less than 6 months. The card that is almost a year old. It should report in July; I am curious about what will happen then.


It may report right than and there, I only have two experiences one with one of my employees and my wife, so I would be very pleased to know, keep us informed :smileyhappy:

Current cards. Capitol One: QuickSlver One $3,500 and $300 (AU) Capitol one secured $520 and $200 (AU) Élan Finicial $2,000 And $2,000 (Joint) Walmart $600 Amazon Store Card $600 Gamestop Credit Card $550 total credit $10,270 started at $200 12/1/2013 :smileyhappy:
Starting score 2/18/2013 486 Current scores, MyFico 9/21/2014 Equifax 634 Transunion 643 Experian 641
Valued Contributor
BluePoodle
Posts: 1,341
Registered: ‎05-15-2013
0

Re: Garden Club Meeting - June 2014


GooseGirl wrote:

Cookie2120987 wrote:

GooseGirl wrote:

Carrie_in_Pa wrote:

mongstradamus wrote:

what is the consensus on how fico scores count AU accounts. I thought AU accounts were factored in utilization ? Just curious because i was looking thru what account are reporting. I see that my Amex TE account, which i am on AU on. Main holder is my mother. Its showing 5% utilization, but this week i got an major ding of 20+ points, so i am guessing that its not being counted in fico scoring. So am i correct to assume that AU accounts don't count anymore when it comes to fico scoring?


I am really confused on how AU is working too. My bank LO said that i should go ahead and add my BF as AU because their system is going to continue to use the info for scoring. I don't get it with everything i've read about it no longer being considered.


 

Another one who is also pretty darn confused about how AU is working these days. I added my eldest child as AU to one of my cards; I'm hoping it will provide some benefit but I'm really not certain.


It will after about six months. My wife got a score right after my CC hit six months reporting that she was on mine, I than added her as a AU, to my quicksilver and her score jumped 15 points,. Being a AU is a very good way to start, I have an employee who's 20 now and a AU on 2 of her moms card and has been since she was sixteen and she's a joint application on a discover card and she's sitting at a 740 score with average age at 5 year!


 

Since my kiddo has 0 credit and is starting from scratch i'm hoping being an AU will help generate a score in less than 6 months. The card that is almost a year old. It should report in July; I am curious about what will happen then.


Thought I would share this: http://ficoforums.myfico.com/t5/Credit-Cards/Barclay-SM-for-Daughter/td-p/3099266

I was just going through all of this myself. So I though my thread of q's might help. Also her most recent TU score is now 715. We had good results best to each of you and your AU's.

CapOne $5750 | Discover $8K | Amex ED $4.5K | Barclay SM $4K | Chase Disney $500 | Chase Slate $5K | Target $3K
Hard Pulls: EX 4 | EQ 6 | TU 4
EX 705 | EQ 704 | TU 709 Oct 2014
Established Member
Carrie_in_Pa
Posts: 284
Registered: ‎06-10-2014
0

Re: Garden Club Meeting - June 2014


BluePoodle wrote:

GooseGirl wrote:

Cookie2120987 wrote:

GooseGirl wrote:

Carrie_in_Pa wrote:

mongstradamus wrote:

what is the consensus on how fico scores count AU accounts. I thought AU accounts were factored in utilization ? Just curious because i was looking thru what account are reporting. I see that my Amex TE account, which i am on AU on. Main holder is my mother. Its showing 5% utilization, but this week i got an major ding of 20+ points, so i am guessing that its not being counted in fico scoring. So am i correct to assume that AU accounts don't count anymore when it comes to fico scoring?


I am really confused on how AU is working too. My bank LO said that i should go ahead and add my BF as AU because their system is going to continue to use the info for scoring. I don't get it with everything i've read about it no longer being considered.


 

Another one who is also pretty darn confused about how AU is working these days. I added my eldest child as AU to one of my cards; I'm hoping it will provide some benefit but I'm really not certain.


It will after about six months. My wife got a score right after my CC hit six months reporting that she was on mine, I than added her as a AU, to my quicksilver and her score jumped 15 points,. Being a AU is a very good way to start, I have an employee who's 20 now and a AU on 2 of her moms card and has been since she was sixteen and she's a joint application on a discover card and she's sitting at a 740 score with average age at 5 year!


 

Since my kiddo has 0 credit and is starting from scratch i'm hoping being an AU will help generate a score in less than 6 months. The card that is almost a year old. It should report in July; I am curious about what will happen then.


Thought I would share this: http://ficoforums.myfico.com/t5/Credit-Cards/Barclay-SM-for-Daughter/td-p/3099266

I was just going through all of this myself. So I though my thread of q's might help. Also her most recent TU score is now 715. We had good results best to each of you and your AU's.


I just read a good page at Discover about adding kids as AU and applying for student cards.

https://www.discover.com/credit-cards/resources/apply-student-credit-card.shtml


Starting Score: 382 - 418 (2005) -- Current Score: 628 (TU08) -- 661 (Beacon 5.0) -- Goal Score: 750+
Into the Garden 6-15-2014 -- Digging in the dirt until 6-2015
Regular Contributor
alyssamarie
Posts: 192
Registered: ‎11-24-2013
0

Re: Garden Club Meeting - June 2014

I haven't checked in in a while, so I have a few updates. My husband got notifiied the weekend before summer classes started that he was ineligible for financial aid effective immediately (due to going over the allowed amount of hours, apparently even college credits earned in high school count), so he needed to apply for a private student loan. We went with Discover at first, and I had to cosign, but the school rejected it because Discover has the same standards for credit hours, so we had to both apply again with Wells Fargo/Sallie Mae. So that added 2 inquiries to my credit report, but it was a necessity.

 

Other than that, we are moving this month to a cheaper apartment, cutting cable, cutting back a lot on going out to eat, and sticking to a pretty tight budget. I'm paying off our credit cards (Amex and Chase have a balance right now) asap, and then following our budget every month down to the penny and paying off all purchases immediately!

 

So there's my gardening update. Not really paying attention to time anymore, just focusing on paying down cards and letting inq's fall off!

Discover It $1k | Chase Freedom $1.2k | Barclay Apple $1.7k | Target $1k |TJX Rewards $1k | Walmart $900 | Macy's $800 | American Eagle $750 | VS $750 | LOFT $500 | Express $350 | Cap1 Sec. $200 |

AU: Amex BCP $5k | Barclaycard Arrival $3k | Amazon Visa $2k | Chase Freedom $2k | Discover It $1.5k

Gardening as of 02/04/14
Current TU FICO 701 | Goal 1: 700✓ met on 2/18/14 | Goal 2: 720


Regular Contributor
Cookie2120987
Posts: 144
Registered: ‎03-07-2014
0

Re: Garden Club Meeting - June 2014


alyssamarie wrote:

I haven't checked in in a while, so I have a few updates. My husband got notifiied the weekend before summer classes started that he was ineligible for financial aid effective immediately (due to going over the allowed amount of hours, apparently even college credits earned in high school count), so he needed to apply for a private student loan. We went with Discover at first, and I had to cosign, but the school rejected it because Discover has the same standards for credit hours, so we had to both apply again with Wells Fargo/Sallie Mae. So that added 2 inquiries to my credit report, but it was a necessity.

 

Other than that, we are moving this month to a cheaper apartment, cutting cable, cutting back a lot on going out to eat, and sticking to a pretty tight budget. I'm paying off our credit cards (Amex and Chase have a balance right now) asap, and then following our budget every month down to the penny and paying off all purchases immediately!

 

So there's my gardening update. Not really paying attention to time anymore, just focusing on paying down cards and letting inq's fall off!


 

Ouch, I dislike Sallie Mae, the intrest rate was RIDICULOUS, I'd just say even with the tight budget try to pay on them while in school, it will save you a LOT over the life of the loan. 

Current cards. Capitol One: QuickSlver One $3,500 and $300 (AU) Capitol one secured $520 and $200 (AU) Élan Finicial $2,000 And $2,000 (Joint) Walmart $600 Amazon Store Card $600 Gamestop Credit Card $550 total credit $10,270 started at $200 12/1/2013 :smileyhappy:
Starting score 2/18/2013 486 Current scores, MyFico 9/21/2014 Equifax 634 Transunion 643 Experian 641
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: Garden Club Meeting - June 2014


ExplicitElicit wrote:

Good morning GC! Getting the new truck washed this morning. 


nice! 

washed the car and detailed after a weekend of birthday festivites. 

Current: Discover Fico 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000

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