CL suddenly boost in one week due to AU

[Anonymous]

Hi People,

Happy Monday.  My TU score suddenly increased from 707-745 in one week. And my credit line went from $500-$25000.  Besides that, my credit history went from 1 year (my first credit card was from October, 2015) to 2 years which I'm not sure why.  

Before this month, I only had one boa credit card with $500. I applied for a CLI from $500 to $1500 and also applied for a new Quicksilver 1 card with a $500 limit. So I personally have a $2000 CL. But my husband also added me on couple of his credit cards as an Authorized User. I use Captial One's website to find out my TU score( It updates weekly) went up to 745 and CL went to around $25000, not sure about  my other scores yet. I guess all his credit cards banks have also reported my info.  So my questions are - Is this new score reliable? Seems like my score got raised dramatically was mainly because of my CL increased so high.  Also, when I apply for new credit cards in the future, will the bank look at my total CL? Or will they just check my personal CL?Thank you people!

[Anonymous]

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@Anonymous wrote:

Hi People,

Happy Monday.  My TU score suddenly increased from 707-745 in one week. And my credit line went from $500-$25000.  Besides that, my credit history went from 1 year (my first credit card was from October, 2015) to 2 years which I'm not sure why.  

Before this month, I only had one boa credit card with $500. I applied for a CLI from $500 to $1500 and also applied for a new Quicksilver 1 card with a $500 limit. So I personally have a $2000 CL. But my husband also added me on couple of his credit cards as an Authorized User. I use Captial One's website to find out my TU score( It updates weekly) went up to 745 and CL went to around $25000, not sure about  my other scores yet. I guess all his credit cards banks have also reported my info.  So my questions are - Is this new score reliable?[1] Seems like my score got raised dramatically was mainly because of my CL increased so high.  Also, when I apply for new credit cards in the future, will the bank look at my total CL? Or will they just check my personal CL?Thank you people!

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1) Without knowing where you are seeing that score from, it will be hard to tell if it is reliable or not.

Now based on the info. provided, you had an increase in AAoA, credit lines etc.. That may be why you saw an increase.  Without knowing all the info. on your report, it will be hard to pinpoint what exactly happen.

[Anonymous]

Thanks for your reply! I got the score from Capital One's online score check feature. I believe they use TU.

[Anonymous]

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@Anonymous wrote:
Thanks for your reply! I got the score from Capital One's online score check feature. I believe they use TU.

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That is VantageScore 3.0.  If you pull your Credit Karma score, it will be the same score.  If you want reliable scores, pull your FICOs as that is what most lenders use.

[Anonymous]

I see...That's why I was doubted when I saw the score. Thank you very much.

[takeshi74]

Don't rely on oversimplifcations such as "reliable".  Always consider the relevance of a given scoring model & CRA combo to a specific creditor/product.  VantageScore 3.0 is relevant to creditors that use that model.  While most use a FICO model not all do.  A FICO will not be relevant to a creditor that does not use a FICO.  Even with FICO the specific scoring model matters.  A FICO 8 won't be relevant to a creditor using a different FICO model.

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@Anonymous wrote:
I see...That's why I was doubted when I saw the score. Thank you very much.

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You don't have to doubt the score.  That score is your TU VantageScore 3.0.  However, it's only relevant to creditors that use a TU VantageScore 3.0 in their decisions.  If a creditor doesn't use a TU VantageScore 3.0 then the score won't be relevant to that creditor.

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@Anonymous wrote:

Also, when I apply for new credit cards in the future, will the bank look at my total CL? Or will they just check my personal CL?Thank you people!

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Creditors do not simply match limits.  They consider your credit profile and income to determine the limit that you qualify for.  Limits factor into revolving utilization which itself factors in Amounts Owed for FICO scoring.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Much, much more than just limit is considered.

[RonM21]

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@takeshi74 wrote:

Don't rely on oversimplifcations such as "reliable".  Always consider the relevance of a given scoring model & CRA combo to a specific creditor/product.  VantageScore 3.0 is relevant to creditors that use that model.  While most use a FICO model not all do.  A FICO will not be relevant to a creditor that does not use a FICO.  Even with FICO the specific scoring model matters.  A FICO 8 won't be relevant to a creditor using a different FICO model.

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@Anonymous wrote:
I see...That's why I was doubted when I saw the score. Thank you very much.

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You don't have to doubt the score.  That score is your TU VantageScore 3.0.  However, it's only relevant to creditors that use a TU VantageScore 3.0 in their decisions.  If a creditor doesn't use a TU VantageScore 3.0 then the score won't be relevant to that creditor.

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@Anonymous wrote:

Also, when I apply for new credit cards in the future, will the bank look at my total CL? Or will they just check my personal CL?Thank you people!

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Creditors do not simply match limits.  They consider your credit profile and income to determine the limit that you qualify for.  Limits factor into revolving utilization which itself factors in Amounts Owed for FICO scoring.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Much, much more than just limit is considered.

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Well stated!