Joint account holder - score went from 708-776 !!!

[Anonymous]

Was made a joint account holder on a family member's card (Chase, open 7yrs, no lates, $7,000 limit/$200 balance).

I was originally made an authorized user which did nothing at all for my score. After contacting Chase, they told me I would have to be made a joint account holder for it to work. And it did! Experian score went from 708-776. 68 point increase!  The new account is now listed on my other reports as well, but I don't have those scores yet since it is requiring me to pay for the actual scores, which I will soon.

[RobertEG]

I'm confused.  Did the OC not report the AU status, and state that they would only report if you became a joint account holder?

If they had reported the AU status, it would have posted to your CR.

It is totally contradictory to state that a reported AU will only be recognized if the party is not simply an authorized user, but rather a joint account holder.

[LIGHTNIN]

Yes being a  joint account holder helped your CS, but it can also hurt your CS,  if there's a late involed.

I would suggest to keep an eye on the monthly statements and also make sure the payments are paid on time.

Congrats on the score jump!!

[maygirl]

Did you have to fill out a form they sent you?? My mom added me last week to an account to help my credit and I have recieved the card but they claim I have to fill out a form which I have not recieved yet... So I was wondering if it was possible to do over the phone!

Thanks

[Anonymous]

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@RobertEG wrote:

I'm confused.  Did the OC not report the AU status, and state that they would only report if you became a joint account holder?

If they had reported the AU status, it would have posted to your CR.

It is totally contradictory to state that a reported AU will only be recognized if the party is not simply an authorized user, but rather a joint account holder.

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Robert - Correct. The OC (Chase) wasn't reporting to any of the credit bureaus that I was an authorized user, so nothing was showing up on my report. They said that it is only reported if I am made a joint account holder. Seems as if come credit card companies will report that you are an AU to the credit bureaus, but some don't unless you are added as a joint account holder.

I have been added as an AU to someones elses card (which does report to the bureaus)  before this, but my scored only moved a few points. I think being added as a joint acount holder made a huge difference.

[Anonymous]

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@LIGHTNIN wrote:

Yes being a  joint account holder helped your CS, but it can also hurt your CS,  if there's a late involed.

I would suggest to keep an eye on the monthly statements and also make sure the payments are paid on time.

Congrats on the score jump!!

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Thanks.

Well, the CC has been open for years with no lates, and hopefully it stays that way. Only about a $100 balance now.

[Anonymous]

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@maygirl wrote:

Did you have to fill out a form they sent you?? My mom added me last week to an account to help my credit and I have recieved the card but they claim I have to fill out a form which I have not recieved yet... So I was wondering if it was possible to do over the phone!

Thanks

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Yes, I had to fill out a form. They can add you as an AU over the phone, but they said to be added as a joint account holder that I had to fill out a form. Took 1 minute. It wasn't anything long or complicated.

[maygirl]

I sent my form in this week to get added! How long did it take to show up on your report??? I am hoping to see a jump in my score also!

[pengy_wi]

Did they have to do an inquiry to add you? I have my DH as AU on 2 Chase accounts and want to add him as joint to get more tradelines on his reports but am afraid of dropping his score with more inquiries (we're trying to get a mortgage and his score is borderline).

[Anonymous]

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@maygirl wrote:

I sent my form in this week to get added! How long did it take to show up on your report??? I am hoping to see a jump in my score also!

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It took about a month.