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MHCali
Posts: 95
Registered: ‎03-25-2011

AU vs. Joint

Hey everyone, I have a joint account with parents for Chase CC with $25,000 limit.  The bureaus are listing it as if I was an Authorized User.  Should I dispute that or would it even make a difference as far as score or manual underwrite is concerned.

 

Thanks



Starting Score: May/2010:TR=566,EQ=604,EX=624
Current Score: TR= ?,EQ=680,EX= ?Closed 12/2012 w/769 score just in time before ex's CO hit me


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llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: AU vs. Joint

If I had to choose, I'd be an AU over a joint user. If anything went south, then I could remove my self easily. As a joint user, you can't do that. Score-wise, there is no difference per FICO. Under a manual review, there should be no difference, though I am not sure how they'd look at it in terms of DTI. I suppose more favorable than a joint user.

 

You should have been added as a joint user if your name was on the app at the very day they applied for it. You cannot be added as a joint user after the app was submitted.

Contributor
MHCali
Posts: 95
Registered: ‎03-25-2011

Re: AU vs. Joint

Thanks llecs.  I am actually already a joint user but it's being reported as an AU.  So if it doesn't matter even with manual review, I guess I'll just leave it as AU as far as my reports go,



Starting Score: May/2010:TR=566,EQ=604,EX=624
Current Score: TR= ?,EQ=680,EX= ?Closed 12/2012 w/769 score just in time before ex's CO hit me


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rckstrscott
Posts: 2,656
Registered: ‎04-25-2011

Re: AU vs. Joint

[ Edited ]

llecs wrote:

If I had to choose, I'd be an AU over a joint user. If anything went south, then I could remove my self easily. As a joint user, you can't do that. Score-wise, there is no difference per FICO. Under a manual review, there should be no difference, though I am not sure how they'd look at it in terms of DTI. I suppose more favorable than a joint user.

 

You should have been added as a joint user if your name was on the app at the very day they applied for it. You cannot be added as a joint user after the app was submitted.


I don't think this is true. I was added as a joint on a Chase card three months ago, I had to fill out an application just like if I was going to be getting a new card under my own name. They placed a hard inquiry on my file.  At that point, my AU was changed to Joint on the CRAs file, and the statements now come in both of our names.

 

-scott

 

Edited for horrible grammar.

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Contributor
MHCali
Posts: 95
Registered: ‎03-25-2011

Re: AU vs. Joint

Hey Scott,

 

llecs is probably right about no score difference between being AU or Joint, but do you know if when getting a mortgage pre-approval that the manual review would look better with a joint account. If so I'd have to dispute because even though I'm a joint account holder, the bureaus still haven't updated my report as joint.  Thanks to llecs and scott.

PS-I know this may seem trivial, but I don't like disputing things anymore if I don't have to.



Starting Score: May/2010:TR=566,EQ=604,EX=624
Current Score: TR= ?,EQ=680,EX= ?Closed 12/2012 w/769 score just in time before ex's CO hit me


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Valued Contributor
rckstrscott
Posts: 2,656
Registered: ‎04-25-2011

Re: AU vs. Joint


MHCali wrote:

Hey Scott,

 

llecs is probably right about no score difference between being AU or Joint, but do you know if when getting a mortgage pre-approval that the manual review would look better with a joint account. If so I'd have to dispute because even though I'm a joint account holder, the bureaus still haven't updated my report as joint.  Thanks to llecs and scott.

PS-I know this may seem trivial, but I don't like disputing things anymore if I don't have to.


Yeah he is def. right about the scoring in regards to FICO, and from my understanding AU accounts are NOT considered in any way when it comes to mortgages.

 

I was merely disputing him on being added as a joint after the fact, it can happen. I just did it haha

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
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haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: AU vs. Joint


MHCali wrote:

Hey Scott,

 

llecs is probably right about no score difference between being AU or Joint, but do you know if when getting a mortgage pre-approval that the manual review would look better with a joint account. If so I'd have to dispute because even though I'm a joint account holder, the bureaus still haven't updated my report as joint.  Thanks to llecs and scott.

PS-I know this may seem trivial, but I don't like disputing things anymore if I don't have to.


And you are absolutely certain that you are a joint account holder, rather than an AU? You filled out an application, and you have a hard inquiry from Chase on your report(s)?

 

Sorry, not to sound like I'm doubting you, but this gets bobbled a lot. :smileytongue:

* 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
Contributor
MHCali
Posts: 95
Registered: ‎03-25-2011

Re: AU vs. Joint

I have talked to a low level phone person on the phone and she said that I was Joint, I was able to sign up online and see all account info. and the bills come in both of our names so I'm quite sure I'm joint account holder.  Weird though, I filled out app. but didn't get an inquiry, maybe because I was an AU first? Haulingscore, should I make CRA's report as such (as a joint) for purpose of a mortgage?

 

THanks, 

 

Dylan



Starting Score: May/2010:TR=566,EQ=604,EX=624
Current Score: TR= ?,EQ=680,EX= ?Closed 12/2012 w/769 score just in time before ex's CO hit me


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Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: AU vs. Joint


haulingthescoreup wrote:

MHCali wrote:

Hey Scott,

 

llecs is probably right about no score difference between being AU or Joint, but do you know if when getting a mortgage pre-approval that the manual review would look better with a joint account. If so I'd have to dispute because even though I'm a joint account holder, the bureaus still haven't updated my report as joint.  Thanks to llecs and scott.

PS-I know this may seem trivial, but I don't like disputing things anymore if I don't have to.


And you are absolutely certain that you are a joint account holder, rather than an AU? You filled out an application, and you have a hard inquiry from Chase on your report(s)?

 

Sorry, not to sound like I'm doubting you, but this gets bobbled a lot. :smileytongue:


While not on a Chase card, I was added as a joint cardholder on my DH's CFNA/Firestone card a year after he opened it.  They sent me a paper asking if I wanted to be an AU (no liability) or a Joint Card Holder (liability), didn't get any kind of hard or soft pull and was added as a joint holder.  So while I think it's rare, this can happen. 


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
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haulingthescoreup
Posts: 28,114
Registered: ‎04-01-2007

Re: AU vs. Joint


MHCali wrote:

I have talked to a low level phone person on the phone and she said that I was Joint, I was able to sign up online and see all account info. and the bills come in both of our names so I'm quite sure I'm joint account holder.  Weird though, I filled out app. but didn't get an inquiry, maybe because I was an AU first? Haulingscore, should I make CRA's report as such (as a joint) for purpose of a mortgage?

 

THanks, 

 

Dylan


Well, IMO, if you're stuck with the potential hazards of a joint account, you might as well enjoy any benefits as well, including having it report properly.

 

Odd about the lack of an inquiry, but you did fill out an app, and it sure sounds like you're considered a joint owner.

* 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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