LILMAN8406 wrote:
I have about 80% util between 3 cc and one chargeoff about 3871total. 1900 on two cc the other card has a 0 balance. The Co is for 1971, my wife just received a citi forward card with 1200 cl. Would adding myself as an AU help or hurt me. My average age on accounts is 4 years and no inq on either report. Please give feedback.
If your numbers are correct, your total CLs equal 4838. 80% of that equals your 3871.
If you add a spouse's 1200 Citi, then your new total CL would equal about 6000. Your util would drop to about 64%. At best you'll get 10 points out of the deal with util remaining that high. And that's assuming you let it report $0, vs reporting with a balance.
Your mix of credit won't help, and since it is a new CC, your AAoA will drop. I bet you'll lose at least 20 points due to the short history.
As your net, I bet you'll lose 10 points with maybe some points coming back within 6-12 months if you let it report $0 and you don't pay off any debt.
