cancel
Showing results for 
Search instead for 
Did you mean: 

Should I?

Established Contributor

Should I?

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?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Message 1 of 7
6 REPLIES
Mega Contributor

Re: Should I?


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?


You should be good.

 




EQ FICO 548 3/3/16
Message 2 of 7
Established Contributor

Re: Should I?

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

 

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

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 3 of 7
Community Leader
Valued Contributor

Re: Should I?


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?


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.  Smiley Happy  


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 4 of 7
Moderator Emeritus

Re: Should I?

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


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 5 of 7
Valued Contributor

Re: Should I?

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%. 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 6 of 7
Established Contributor

Re: Should I?

Thanks for the advice guys Smiley Happy

 

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)

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Message 7 of 7