Question about Credit Score

Anonymous · ‎03-13-2011

I have a question, I have a 697 Fico score with Trans Union and only a two year AAOA history, I have two closed CC accounts from back in 2003 and 3 CC accounts I opened last year and 1 charge card I opened as well last year. The only reason I mention Trans Union is to keep it simple.....Well anyway, my Father has the Optima Amex which was opened in 1984 and with a 17,000 limit which he is adding me as an authorized user. I called Fico and they did say that when this account is reported to the 3 credit bureaus it will show on my reports as opened in 1984, so it will help my AAOA tremendously not to mention my util ratio which is now 12%. So my question is, what kind of score increase should I expect to see?

Any help or opinions would be greatly appreciated.

If anymore info is needed please ask and I'll provide it, I know you guys/gals will not be able to give me a concrete number, all I'm hoping is to get a ballpark figure.

I should also mention that in the 27 years my father has had this card he uses it monthly and pays in full every month and has NEVER made a late payment, if that helps.

Anonymous · ‎03-13-2011

@Anonymous wrote:
"my Father has the Optima Amex which was opened in 1984 and with a 17,000 limit which he is adding me as an authorized user. I called Fico and they did say that when this account is reported to the 3 credit bureaus it will show on my reports as opened in 1984"

On your amex card, does it say member since 84'? I was added as an authorized user on my dads account which he has had since 81' but on my card it says member since 11' which is when i was added. I would like that account history just like how you have it.

Anonymous · ‎03-14-2011

I dont know yet, I have not received the card yet, nor has it been added to my reports yet.

I called MyFico customer service and the Rep told me that when the card is listed on my reports it will be shown as opened in 84, I hope it does not show 2011 like yours did, it would be kinda pointless if that were the case.

BTW, sorry to the Mod who had to move my post, I thought I posted it in the right forum.

Anonymous · ‎03-14-2011

Well, I just got off the phone with all 3 Credit Bureaus and they all said the same thing......."It will show on my reports as opened in 1984"

I called Amex today and they told me the card was sent out on the 11th and their reporting cycle is on the 20th, so I'll wait a few days after the 20th and pull my TU or EQ or both reports to see whats reported, hopefully it will be 84 like EX, TU and EQ has told me, I'll let you know.

Was your fathers card an Amex card? The whole reason to be added as an authorized user in many cases is for the age of account history or for some people the util.

Best of luck to you.

Was just thinking, you said on your "Card" it says member as of 2011......have you pulled your reports to see if its listed as opened in 81? I expect my card to say something like 3/11/11 but on my credit report I expect is to show as opened in 84.

If you have not pulled your report/reports I suggest doing so to see what it says in regards to "date opened"

Anonymous · ‎03-16-2011

I haven't had a credit report since adding the card, I get quarterly report and my next one isnt until May. It is an American Express Green Card. Just crossing my fingers for this one...

When you get your card though please fill me in on what your card says under the "Member Since" part. If yours says 11' on your card and your credit report shows the 1984 I should be good to go.

Anonymous · ‎03-19-2011

@Anonymous wrote:

I haven't had a credit report since adding the card, I get quarterly report and my next one isnt until May. It is an American Express Green Card. Just crossing my fingers for this one...
When you get your card though please fill me in on what your card says under the "Member Since" part. If yours says 11' on your card and your credit report shows the 1984 I should be good to go.

I pulled my EX report from FRC.com and the AMEX card is now showing on that report, it does indeed show as opened in 84, raised my length of history from 3.9 years to 6.8 years, lowered my util down to 2% and raised my EX Plus score by 21 points.

I called AMEX and they told me that the biling cycle ends on the 20th (tomorrow) and thats when they will be reporting to TU and EQ, I'm really excited to see my real FICO results from this 27.9 year old card added to both of those reports.

I was surprised to see it added to my EX report before the 20th but I just read a post here that when you apply for an AMEX card they pull your EX report, so AMEX must communicate with EX differently than they do with TU and EQ so thats most likely why its on my EX report early. (Not that they pulled my report, just that they communitate with EX electronically or something)

I should expect to see it on my TU and EQ reports sometime this upcoming week (as quickly as TU and EQ updates my files) I'll let you know the results.