I'm trying to help a friend build up her credit report and was toying with the idea of putting her as an AU on one of my cards. I could get an extra 5k points and help her out at the same time, however I do have some questions.
1. What is the value of adding some as an AU when they already have a decent card? For example, my friend has a freedom card with just under a 5k limit. In a few months her original cap 1 card will turn a year old. Does adding soimeone as an AU to a two year old card with high credit limit help someone in this situation?
2. Since I think the next card I would recommend to her is the CSP (she has four accounts in past year- two of which are store) then I am hesitant to put her as an AU on one of my cards thereby pushign the number of her accounts to 5 and forcing a call to recon), although I would like for her to build history with a credit line that is 5k+. Thoughts?
3. If someone is an AU and then you remove them does all that AU history get erased from their credit report?
My feeling at this point is that other than getting the extra points for myself this would not really do much to build my friends credit report at this stage.
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@icyhot wrote:
Unless you two have the same address the card won't even report to her CRs. Chase doesn't ask for an SSN.
Hmm in that case maybe I will just add her. Have her make a charge. Collect the bonus and then cancel the AU card.
@Anonymous wrote:
@red259 wrote:I'm trying to help a friend build up her credit report and was toying with the idea of putting her as an AU on one of my cards. I could get an extra 5k points and help her out at the same time, however I do have some questions.
1. What is the value of adding some as an AU when they already have a decent card? For example, my friend has a freedom card with just under a 5k limit. In a few months her original cap 1 card will turn a year old. Does adding soimeone as an AU to a two year old card with high credit limit help someone in this situation?
2. Since I think the next card I would recommend to her is the CSP (she has four accounts in past year- two of which are store) then I am hesitant to put her as an AU on one of my cards thereby pushign the number of her accounts to 5 and forcing a call to recon), although I would like for her to build history with a credit line that is 5k+. Thoughts?
3. If someone is an AU and then you remove them does all that AU history get erased from their credit report?
My feeling at this point is that other than getting the extra points for myself this would not really do much to build my friends credit report at this stage.
if she is able to get a freedom card, i would highly disagree adding her as an AU. sign up on either myfico or CCT to see here scores and app another prime card
No, apping another card would be a mistake at this point because she just got the freedom card and a CSP would likely be a denial with under a year of revolver history showing. Adding another credit card from different lender while possible will pretty much kill any chance at getting the CSP due to too many accounts in past two years.
@Anonymous wrote:
@red259 wrote:
@Anonymous wrote:
@red259 wrote:I'm trying to help a friend build up her credit report and was toying with the idea of putting her as an AU on one of my cards. I could get an extra 5k points and help her out at the same time, however I do have some questions.
1. What is the value of adding some as an AU when they already have a decent card? For example, my friend has a freedom card with just under a 5k limit. In a few months her original cap 1 card will turn a year old. Does adding soimeone as an AU to a two year old card with high credit limit help someone in this situation?
2. Since I think the next card I would recommend to her is the CSP (she has four accounts in past year- two of which are store) then I am hesitant to put her as an AU on one of my cards thereby pushign the number of her accounts to 5 and forcing a call to recon), although I would like for her to build history with a credit line that is 5k+. Thoughts?
3. If someone is an AU and then you remove them does all that AU history get erased from their credit report?
My feeling at this point is that other than getting the extra points for myself this would not really do much to build my friends credit report at this stage.
if she is able to get a freedom card, i would highly disagree adding her as an AU. sign up on either myfico or CCT to see here scores and app another prime card
No, apping another card would be a mistake at this point because she just got the freedom card and a CSP would likely be a denial with under a year of revolver history showing. Adding another credit card from different lender while possible will pretty much kill any chance at getting the CSP due to too many accounts in past two years.
it sound more like you want to help yourself get the bonus miles than help her. like i said, she doesn't need help if she can get a freedom card.
Umm ok. That is exactly why I came and asked the question here about how i could help or hurt her profile instead of just adding her as an AU to get my points, becuase its all about me.
@Anonymous wrote:
@red259 wrote:
@icyhot wrote:
Unless you two have the same address the card won't even report to her CRs. Chase doesn't ask for an SSN.Hmm in that case maybe I will just add her. Have her make a charge. Collect the bonus and then cancel the AU card.
Please don't assume that it won't report. It probably will.
You can still do what you want but it may require her filing a dispute to have the card removed from her credit reports after you remove her as an AU. Not hard to do.
If its going to report and not really be much help, which I suspected initially then I don't see a benefit and will not do it.