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Posts: 252
Registered: ‎06-08-2009
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Regarding becoming an AU-

[ Edited ]

Hello to all-hope everyone enjoyed their 4th of July! Just had a question-Is it a good idea to become an AU on a JC PENNEY/MACYS store card w/a long, clean history -10yrs.-in helping to establish and improve credit/scores.My stepdad has offered one of his cards that he hasn't been using that he does not want to close. Thanks!:smileyhappy:

Message Edited by anderl on 07-05-2009 09:46 PM
Message Edited by anderl on 07-05-2009 09:48 PM
Amex Platinum Charge(NPSL); Starwood Amex Preferred CC(20K CL); Diners Club ELITE MC(20K);Diners Club Premier MC(20K,could've sworn the rep said 25k, oh well lol);Delta Amex Reserve CC(21K CL); Amex PRG Charge(NPSL); United Presidential Plus Chase World Elite MC (15K CL); AARP Chase Visa Signature(35K CL); NFCU Visa Platinum(20K CL) NFCU LOC(15K); NFCU Go Rewards MC(17.5K); Disover IT 7.8K;
First Tech Federal Visa Platinum(15K CL); Simmons First Visa Platinum(9K CL); Wells Fargo Visa Platinum(7.5K CL); CitiBank Sears MC(6K CL); JCPenney Card(7.5K CL); Lowes(2.5K CL);Barclays Mile & More Lufthansa 12.5K.
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Posts: 28,098
Registered: ‎04-01-2007
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Re: Regarding becoming an AU-

Rule of thumb for going AU: the account should be:

1. older than your AAoA (average age of accounts)
2. immaculately clean, no baddies anywhere
3. always paid in full, or with an occasional minimal balance that is promptly paid off
4. reported to all three credit bureaus (not all AU cards report)

If his card meets these criteria, then yes, it should help.

One personal comment about going AU for the sole purpose of helping your credit: I'm AU on my husband's Discover card, to get some additional history. (I was a "housewife at home" for a long, long time, with no credit in my name.) I love my card --it's very pretty; the Monet "Nymphaea" design --but I never use it. It sits in my drawer, in the dark.

IMO, if someone is generous enough to offer to help someone build/ rebuild their credit, the ethical thing to do is to not use the card and potentially cause problems for the actual cardholder. Like I said, just my take on it.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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