Piggybacking

[aces33]

Hey guys, been reading for a while and getting great tips but now i need to know 2 things. First - how long does it take to be added to a wells fargo credit card as a AU - is it 30-45 business days or reg. days? Second my brother has a chase account with a 11k limit - he's never missed a payment but his credit score is probably mid 600's , if he adds me to just that card will my score go higher than his?

[shanac]

My husband added me to his Chase Slate on 3/27. On 3/28, it was reporting via Experian. I haven't pulled my TU and EQ CRs but I'm assuming it's on all three.

[aces33]

Thanks for the reply .. maybe i need to be more specific on what i'm asking. If my brother puts me on his chase card.. No matter his score will i just get the benefit from his one card?

[DaBears]

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@aces33 wrote:

Thanks for the reply .. maybe i need to be more specific on what i'm asking. If my brother puts me on his chase card.. No matter his score will i just get the benefit from his one card?

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His scores have no affect on you. You will benefit from being a AU on his card as long as it doesn't have any lates.

[aces33]

Thanks - he has no lates on this card.

[llecs]

The payment history (no lates is a good thing), the length of history in relation to your AAoA, the length of history in relation to your oldest TLs, utilization on that card and utilization on that card in relation to your overall util all come into play, as well as improvement to your mix of credit, if any at all. So, if you add an AU that has lates reporting, is a new CC, and has a high util, then expect a score drop when added. Conversely, if the card is very old in relation to your other accts, has a balance near $0, and this was your first, second, or even third CC reporting then expect a gain.

[shanac]

Ilecs, I just had an 'aha' moment after reading your reply--if I understand it correctly. I was a bit baffled as to why I only received a 7 point score increase after being added as an AU on my husband's card which has a $56 balance and an $8500 CL and no lates. My oldest CCs are from 2007. My husband was PC to this Chase CC in 2006 and that is the year that appears on my CR. Therefore, it didn't impact my score as much because it's only a year older than my oldest CC??

[aces33]

Thanks for the reply's ... what i'm going to wait for him to so is pay it down a little more , i have a 640 FICO , i'm trying to buy a house , but i'm trying to go in with a 720+ score. I have a perfect payment history all student loans and all my credit cards but i have a very limited history.