Quick questions on becoming an AU...

[j_casteel]

What are the stipulations on become an AU with AMEX, CITI, Chase, Discover, etc?

My brother is thinking about possibly helping me out in my rebuilding stage and making me an AU on 1 or 2 of his cards. He will keep/destroy the cards. This is just strickly for boosting my credit score and my AAoA. He has several cards ranging from $5k to $20k all PIF each month, and his newest one is ~5yrs old. His current score is ~785 i believe is what he said.

So with us not living together is there any issues with not having the same address? Will this help me? Can/will this hurt him?

Thanks,

John

[CruzImperial]

I´ve always tried to get my AU accounts to report to the credit bureaus but it won´t happen. I have tried with GE, Citi, Chase, etc. Even living in the same house and having the same address, the only one that would report is BoA. Won´t hurt him to have you as AU unless something happens and the cards get maxed out Luck in rebuilding!

[j_casteel]

so how long are the affects of being added as an AU? Some label it as "piggy-backing" and its viewed negatively. I know back in 2008 the "credit repair" companies nearly got it where AU's wouldn't even be seen on reports due to the way they were doing things.

So if i were to become an AU on his cards, would the affects be short lived? Or  will they continue to help me as long as the account is in all around good standings?

John

[j_casteel]

So if he wants to add me to his AMEX as an AU or another card...do we need to have the same address? I see all the time with people becoming AU's on friends/families cards and I'm sure they don't always have the same address. So in order for this to report do we have to have the same address or will we be fine entering in my address. Again, he will be keeping/destroying the card. This is just for me to help build my credit/FICO.

[j_casteel]

Well, even though we didn't get much responses here (I know its late and people have to sleep and have lives, etc) I did some searching and he did some searching too. Since there is really no risk involved for him, being that while i have changed my ways from 7-8 yrs ago as an irresponsible college kid to become a much more responsible adult, since i will not actually be using the cards; He decided to add me to his Citi card tonight, which they only asked for my name...which is weird? He said they are going to email him. Once, he has that taken care of he is going to add me to his AMEX card. He requested a CLI on his AMEX tonight (approved increased to $33,300 from $20k) while we were talking and wants to wait for that to go through and he will then add me as an AU.

So, by adding me to those cards I'm hoping within the next year or so by maintaining my own cards and being an AU on his cards that I will hopefully be considered for some decent prime cards.

Here are the cards he is adding me to:

1. Citi Dividend World Mastercard: 0/11,400 PIF each month (when he actually does use it) nearly 9yrs old NO baddies EVER

2. AMEX Blue Cash: 0/33,300 PIF each month (uses it the most, like a debit card) his newest account nearly 4yrs old (thought it was older) NO baddies EVER

He's going to make sure things go through and that they will infact report on the bureaus for me. If everything works out this will increase my available limit from $1,550 to $46,250. Which every card is PIF each month, and have NO baddies EVER. Also, will increase my AAoA by several years.

Quick question, so will this backdate my Zync card now? And any future AMEX card i get? I just got my Zync card last month.

Thanks,

John

[OhioCPA]

There are slight differences in how Amex and Citi handles AU. While Amex reports the card as an AU, you are actually an additional card member. ACM will have their own account number and the history of the ACM as a CM will likely be taken into account. Thus, your new Amex card will likely be dated the same as your existing Zync, and you will not gain AAoA. Amex appears to have stopped dating ACM with the same member since date as the primary card member some time last fall. There have been some who have apparently slipped through since then but YMMV. Thus, I would expect the AU as well as any future Amex cards to be backdated to 2012.

[j_casteel]

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@OhioCPA wrote:

There are slight differences in how Amex and Citi handles AU. While Amex reports the card as an AU, you are actually an additional card member. ACM will have their own account number and the history of the ACM as a CM will likely be taken into account. Thus, your new Amex card will likely be dated the same as your existing Zync, and you will not gain AAoA. Amex appears to have stopped dating ACM with the same member since date as the primary card member some time last fall. There have been some who have apparently slipped through since then but YMMV. Thus, I would expect the AU as well as any future Amex cards to be backdated to 2012.

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That's fine...what are your thoughts as far as becoming an AU on those 2 particular cards? Do you think it will help me?

Thanks,

John

[OhioCPA]

The cards should help you with your score and potentially with getting higher limit cards in the future. The only harm that could come from being an AU on an account would come from a card issuer that notices the AU status of these two cards. The issuer will know that your score is impacted by the two accounts but they will be unable to adjust the score. Thus, there potentially could be credit that you would otherwise qualify for on your own that is declined.

[j_casteel]

I'm not sure how long I plan on staying an AU on his accounts. I was thinking a year possibly 2 years at the longest. During this time I'm going to wait 6-12 mths and see how things go before a

[j_casteel]

pplying for anything else. Do you think it will hurt my score if I were to remove myself as an AU before getting the prime cards? After?

Thanks,

John

*sorry for the fat finger on the iphone