Credit Cards

[jordanmedical]

I want to improve my AAoA and I asked my mom to add me to her Sears card opened in 1999 once she pays it down (She has a large purchase on it). Card itself has never been late but has been OL before. Will this help or hurt my scores?

[LS2982]

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jordanmedical wrote:

I want to improve my AAoA and I asked my mom to add me to her Sears card opened in 1999 once she pays it down (She has a large purchase on it). Card itself has never been late but has been OL before. Will this help or hurt my scores?

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You should be good.

[CruzImperial]

Your AAoA should increase a couple of years depending how many tradelines you have

I don't think a hit on scores should be a problem. New accs are out of the way and util will go down.

[improvingmycredit]

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jordanmedical wrote:

I want to improve my AAoA and I asked my mom to add me to her Sears card opened in 1999 once she pays it down (She has a large purchase on it). Card itself has never been late but has been OL before. Will this help or hurt my scores?

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Good plan as long as no future charges increase the utility of the card.  Being an AU on an account is a 2 way street unfortunately.  You get all the goodies of AAoA and increased credit limit availability but also, if the account is an active one that the Primary uses pretty regularly or for big purchases, then it can end up hurting you too.    

[webhopper]

No harm in adding yourself as an AU...  Keep in mind that if she makes another large purchase, you will show high utility

[jamesdwi]

With an AAoA of almost 5 years, I don't think that card age is a major problem, and lots of internal scoring systems don't count age of AU cards, and its a timebomb, the next time your mom's dishwasher or other major appliance goes out the UTL could go right back up. Best to avoid the headache for a few just a few fico points. 

I would work on what ever is keeping your scores low, GW and PFD would be your friend and getting UTL below 10%. 

[jordanmedical]

Thanks for the advice guys

James, My current util is 6% and the only baddies I have left I'm still fighting or waiting to age (1 student loan late posting on each installment from last year-they won't gw, 4 collections total, 2 medical--1 on EQ-still fighting, 2 on TU9these are the medical ones)- in process of trying to pfd, 1 on EX due to fall off on 01/2013)