I've improved my scores as much as I possibly could but I'm at a point where they're no longer going up. I want to get a regular credit card soon and a mortgage in the next year or so. I was wondering if being added to my mom's credit card as an AU would help me. Her credit line is $7500 and her balance is about $4350 (58%), opened 7/2003. This is my report:
Positive
Creditor Opened Credit Line Utilization Status
Walmart 8/2012 $150 5% Always paid on time
Fingerhut 7/2012 $600 0% Always paid in full and on time
Cap 1 4/2012 $1000 6% Always paid on time, Secured card
Instalment 7/2003 $2575 0% PIF 5/2004, still open
Negative
Ford Credit Auto Loan opened 10/2001, Paid Charge Off, Last activity 3/2007
Capio Partners, Collection setted for less
Should I be added as an Authorized User for the card with $7500 limit that has been opened for 9 years, but 58% utilization? Would it help or hurt me?
Starting Score: EQ FICO 648 - TU08 598 - EX FAKO 544 (1/2012)
Even if the tradeline was 20 years old, I wouldn't touch it as long as it has that high of a Util.
I would go with the lowest Util card she has with the longest record.
Ignore the credit limit.
If she uses 10k out of 10k that will lower your score vs if she SD's a 300 Cap 1 card and only puts $5 every 6 months on it.
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