09-18-2012 10:39 PM
09-18-2012 11:08 PM - edited 09-18-2012 11:08 PM
AU does not help much in building credit, especially if mortgage is your ultimate goal. During mortgage, everything will be manually reviewed, and any AU account is going to be ignored at that point.
I see you already have a personal loan from CU, so that is a start. Pay off that loan and get a credit card from the same CU. Building credit does not just happen in a blink of a eye. A good credit means at least one year of good on-time and continuous payment from loans and credit card.
09-18-2012 11:15 PM
I agree with trumpet-205. Credit will be a big factor in a home mortage. And if you don't have any...god only knows how they will work around that.
09-19-2012 05:41 AM
It's interesting that the mortgage lender told the OP to become an AU on a card themselves. If the lender told the OP to do this then why not do it?
Also, if and when the AU account shows up on the OP's credit reports that could help him/her get a CC of his/her own, no? If the mortgage lender questions that then the OP could explain the reason behind it.
Just my 2 cents.
09-19-2012 11:53 AM
09-19-2012 02:50 PM
09-19-2012 04:31 PM
We don't live at the same address but they assure us it will show up so I don't know. The lender suggested this to try and jump my score. I had two car loans. One in 2005 and one in 2008, both were paid off as agreed but that's all I have. He said he trusts I will pay and I have to income to pay just wants to get my score up. But, after the loan and AU accounts, my score has done nothing so i don't know what else to do.
It is up to you to build your credit, not with the help of AU.
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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.