AU and AAofA

[scmami]

So, I thought it'd be a good idea to add myself as an AU on my hubby's CC account. We're both rebuilding, so the CC is only 23 months old and $500 limit, but I thought having 2 CCs would look better than one. However, I am concerned about my average age of accounts. I am currently at 6 years. (5. 895 to be exact but FICO says 6). Being added to this account would lower my AAofA to 5.66 or 5 years. I'm not sure if I'll see much of a decrease by losing a year or if having 2 open CCs matters. Which is more important?

[pizzadude]

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@scmami wrote:
So, I thought it'd be a good idea to add myself as an AU on my hubby's CC account. We're both rebuilding, so the CC is only 23 months old and $500 limit, but I thought having 2 CCs would look better than one. However, I am concerned about my average age of accounts. I am currently at 6 years. (5. 895 to be exact but FICO says 6). Being added to this account would lower my AAofA to 5.66 or 5 years. I'm not sure if I'll see much of a decrease by losing a year or if having 2 open CCs matters. Which is more important?

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If you only have one CC right now then I'd go ahead and get added as an AU.   FICO scoring usually likes to see 2 or 3 open revolving accounts.

[scmami]

I did get added. Hopefully it'll report on the 15th when it usually reports. I just paid the balance to $0 so ultimately as the accounts age, I hope it will help, not hurt. I'm still giddy from the 33 point increase I got today. I'll be crushed if the new account drops my score. But I guess I can always be removed right? . Thanks pizzadude!

[pizzadude]

Yep you can always get removed.    My guess ( and this is just speculation ) is that it will help your FICO score.

[scmami]

I will report back as soon as I find out :-)

[scmami]

Well, the new card is reporting on all 3 credit reports as of today according to USAA. I haven't gotten an alert from Scorewatch yet so maybe no change? My Transunion FICO went from 572 to 591 but I suspect that is due to paying my other CC down to zero and also paying 70% of the CapOne charge off that's affecting my utilization. 19 points is nice, but Transunion is BRUTAL when it comes to utilization I'm learning. I think I may just pay CapOne in full since they won't report $0 until I do. I could dispute/call/write whatever but I'm not up for it. I want my $640 mid-NOW lol! Thanks pizzadude for your help!