Credit Cards

[Bishop]

I have a limited credit history. My Dad has 1,300 cl on his Home Depot store card. I'm wondering if he adds me as an AU will this have an impact on my credit score? Also will Home Depot report to my ex,eq, and TU report?

Second. I got my first Credit Card in January. Fico says they can't give me a score because I need to have a revolving for 6 months. My Dad has had the Home Depot store card for 7 months. If they report me as a AU user will I be able to get my fico score because of this account.

Thanks

[Bishop]

Bump

[CreditMizer]

Right now (AU in score may got away w/ FICO-08 if ever implemented) yes having you as an AU will effect your score.  How much or good or bad depends on the account.

Does your dad run a high balance? If so it will hurt you.  Balances of 9% start to negatively effect your FICO.  Has your dad ever been late?  Has he been late or other cards (aka likely to be late in the future)?

Basically adding you as an AU will report that card on your CR and it will be included in all calculations.

The age of the account will be calucalated into your oldest account and average account age stats.

Your util % will include the balance and CL from the Home Depot Card.

Any lates on that card will hit your FICO just like they were lates from one of your current accounts.

To keep it simple it would be just as if it was your card.

BTW: If you dad has had the Home Depot card for 7 months and has $0 or low blance now and no lates he likely could get CLI.

[Bishop]

Thanks for your reply, I appreciate it.

Acutually he has never been late in this account. He started off with $500.00 and last month he asked for a $800.00 increase and they granted it. He runs about 30% utilities in his Home Depot store card so it will help me.

I just requested to become an AU user. Strange thing was that they didn't ask me for my social security number but when I called up they said they will report it.

Anyways, when will that fico thing kick in, or does it look like it won't happen?

[bman69]

FICO 08 should be rolling out this year :/

[Timothy]

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bman69 wrote:
FICO 08 should could be rolling out this year :/

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[jay33]

"I just requested to become an AU user. Strange thing was that they didn't ask me for my social security number but when I called up they said they will report it."

I just got added on as an AU on three accounts and non asked for my social, but they said that they will report.  When will the new accounts be reflected on my CR?

[cheddar]

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Bishop wrote:

I just requested to become an AU user. Strange thing was that they didn't ask me for my social security number but when I called up they said they will report it.

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SSN is not required for reporting purposes.  Name and address suffice.

[Bishop]

Thanks