@Madsid wrote:
My parents are willing to help me re-establish my credit by putting me on as a AU. However, I have a cc account from 1991 that I still owe on but has been "closed by grantor". My question is, in order for the AU to have an effect, would I still need to make sure the card I become a AU on is older then 91?
Hello and welcome to the forums.
When was this account closed? How old is your parents account?
Not only does their account need to be older than any of yours but the utilization needs to be very, very, low and the payment history clean. Also not every CC issuer will report to the CRA's. You'll need to find out if this card will report.
You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.
From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772
You can do the same thing with hard work
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