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Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

adding father to walmart card to get approval for amex! ideas thoughts?

so like i posted in the gardening thread. 

my father only came to the u.s. in 2010. and a couple months after jointly applied with my mom for a carecredit to get my wisdom teeth out. 

anyways it has a 3.5k limt and 2 years old(may be a little older). he has no other cards. id have to ask if my mom put him as an au on her orchard 5k card its about 3 years old. but has high util. 

 

if i add him to my walmart as an au. the card will be 5 months(in decemeber) old and has a 3k limit. 

what are the chances he will get approved for amex bce? 

 

he has no baddies. 

all payments on time about 5 inq total on 3 reports. 

one sears 

2 cc bank on eq and not sure about the other ones.

Current: Discover Fico 689 9/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: adding father to walmart card to get approval for amex! ideas thoughts?

I would advise him to apply on his own for discover. If you add him it may hurt more than help since the account is so new.

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!



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Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: adding father to walmart card to get approval for amex! ideas thoughts?


webhopper wrote:
I would advise him to apply on his own for discover. If you add him it may hurt more than help since the account is so new.

why discover though? not that i have anything against them. honeslty i just want him to get an amex to be in. he's 42 starting out with little credit. 

Current: Discover Fico 689 9/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
0

Re: adding father to walmart card to get approval for amex! ideas thoughts?


creditnocash wrote:

webhopper wrote:
I would advise him to apply on his own for discover. If you add him it may hurt more than help since the account is so new.

why discover though? not that i have anything against them. honeslty i just want him to get an amex to be in. he's 42 starting out with little credit. 


This will not happen with Amex. Amex needs to see a couple more accounts handled responsibly in his name for at least 6 months if not more. Yes, the Walmart AU on his report could possibly help his score, but it will not change the fact he has only the one account he is responsible for. 

What is the utilization on the CareCredit?
  

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: adding father to walmart card to get approval for amex! ideas thoughts?


jd5189 wrote:

creditnocash wrote:

webhopper wrote:
I would advise him to apply on his own for discover. If you add him it may hurt more than help since the account is so new.

why discover though? not that i have anything against them. honeslty i just want him to get an amex to be in. he's 42 starting out with little credit. 


This will not happen with Amex. Amex needs to see a couple more accounts handled responsibly in his name for at least 6 months if not more. Yes, the Walmart AU on his report could possibly help his score, but it will not change the fact he has only the one account he is responsible for. 

What is the utilization on the CareCredit?
  


0% its been 0 since august of this year.

Current: Discover Fico 689 9/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
0

Re: adding father to walmart card to get approval for amex! ideas thoughts?

It helps that the util is not high on the care credit (as care credit is a revolving acct), but I still think he would need more accounts in his name for an Amex - I am not sure how Amex views care credit (good/bad/neutral).

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: adding father to walmart card to get approval for amex! ideas thoughts?

I mentioned discover because I got my amex approval back when discover was my only major cc and I had some retail cards. I would advise getting a discover and then applying for an amex charge card in 6 months.

Discover can be oddly generous if they are a persons first major cc. They know that consumers are more loyal to their first card and tend to keep them longer. Ive had my discover card since 1999.

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!



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