Being added as AU

[hippychic823]

*Please move if this doesn't belong here* My fiance is going to add me to his CapOneQS card. It has a 10K CL, a bal of 500, open for almost a year. We are doing this to help me get some more positive history and to help my AAoOA since I only have 2 current open revolvers (both opened in March 2017) and 1 installment (car note. 4y8m. Will he paid off soon) reportong as positive. Question is, will I get hit with an inq/HP when he adds me? Or will we just give them my info and wait for it to report on my CR's?

[Anonymous]

Shouldn't be any HP; the account will start showing in your reports and should give the full history of it

[RobertEG]

It is neither a consumer initiated request for credit nor an business transaction initiated by the consumer that involves a legitimate business need to review your credit.

Those are the relevant permissible purpose provisions under FCRA 604 that enable them to receive your credit report without need for your express authorization.

The FCRA permits an inquiry without permissible purpose only if the consumer provides their express authorization.

If they rquest your permission to make an inquiry and you say yes, they can pull and code as either soft or hard.

However if they do not request and obtain your express authorization, they would need to provide a statement of permissible purpose under FCRA 604.

Being considered for grant of AU status is not a permissible purpose under FCRA 604.

[Anonymous]

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@hippychic823 wrote:
*Please move if this doesn't belong here* My fiance is going to add me to his CapOneQS card. It has a 10K CL, a bal of 500, open for almost a year. We are doing this to help me get some more positive history and to help my AAoOA since I only have 2 current open revolvers (both opened in March 2017) and 1 installment (car note. 4y8m. Will he paid off soon) reportong as positive. Question is, will I get hit with an inq/HP when he adds me? Or will we just give them my info and wait for it to report on my CR's?

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While you will receive an artificial boost to your scores by being made an AU on his account, when your installment loan is paid off, unless you have another type of installment loan (i.e. share loan, mortgage, student loans, etc...), your scores will decrease from the lack of reporting activity from the auto loan.   Some lenders only want to know how you handle your own accounts, so when you're able to, add on a 3rd account for yourself.  

[Anonymous]

Honestly, if his account is only a year old, I wouldn't add as an AU.  Let your new accounts age.  I was in your shoes 2 years ago.  I obtained 2 new cards.  My husband added me to his cap 1 account and I gained 15 points.  I waited 6 months for my new accounts to age and started checking pre-qualifiers with various credit cards.  I applied for another card but my limit was still low.  By the time my accounts aged 9 months, I was getting higher starting limits.  We removed the AU back in October because he had to charge some dental work.  I lost 25 points!  One other thing,  if you aren't living together and have the same mailing address, cap 1 doesn't report the au account to the cra's.

[rmduhon]

Cap1 cards report AU's regardless of the address or name. They go by the SSN. I know this from experience. They also report the entire history of the accounts also.