my only Revolving Credit Line is as "authorized user"

[BigChad]

I have recently re-engaged in cleaning up my credit report. I purchased my report and FICO score from TransUnion here on myFico, and got the Experian and Equifax reports from annualcreditreport.com for free. So, I really didn't have much on there, Negative stuff was 2 AFNI (verizon) collections and a Directv collection. I disputed them and directv was deleted, afni was confirmed, I'm dealing with AFNI now and I believe they will come off very soon.

My Fico score was 640 before the directv collection came off. I don't what it will be when the AFNI stuff comes off.

I applied for a Capitol One CC last week. They asked to verify my social security card and physical address, sent them what they wanted, and today they confirmed receipt. Hopefully next week I'll be get approved.

The only other revolving credit line on my credit report is as an Authorized User on my mothers card when she added me onto it like 10 years ago. So, incidentally it is also the oldest account on my report which I know is a factor in fico scoring too. Does authorized user count the same for fico scoring as an individual account? If I tried to change my status to co-signer, will that affect my Fico score at all?

I have some other student loans on my credit report, all paid in full, closed, never late. Do these still factor into FICO scoring at all? Or did they ever? Is it only revolving credit lines that count?

Appreciate any info. thanks

[BigChad]

another thought.... if I do get approved for a capitol one card, how soon would you ask for a credit line increase? Of course higher limits help the FICO score. I will always have my utilization under 9% so I'm not really worried about getting into debt trouble, but I hope to apply for a mortgage next yer, and want my FICO score to build up to 750+ before I do it.

[MarineVietVet]

---

@BigChad wrote:

I have recently re-engaged in cleaning up my credit report. I purchased my report and FICO score from TransUnion here on myFico, and got the Experian and Equifax reports from annualcreditreport.com for free. So, I really didn't have much on there, Negative stuff was 2 AFNI (verizon) collections and a Directv collection. I disputed them and directv was deleted, afni was confirmed, I'm dealing with AFNI now and I believe they will come off very soon.

My Fico score was 640 before the directv collection came off. I don't what it will be when the AFNI stuff comes off.

I applied for a Capitol One CC last week. They asked to verify my social security card and physical address, sent them what they wanted, and today they confirmed receipt. Hopefully next week I'll be get approved.

The only other revolving credit line on my credit report is as an Authorized User on my mothers card when she added me onto it like 10 years ago. So, incidentally it is also the oldest account on my report which I know is a factor in fico scoring too. Does authorized user count the same for fico scoring as an individual account? AU's inherit the entire history of the account. They are also affected by what happens both good and bad.

If I tried to change my status to co-signer, will that affect my Fico score at all? It would probably lower your score a bit because you would have to apply to be added as a joint owner. I would leave things the way they are but that's up to you.

I have some other student loans on my credit report, all paid in full, closed, never late. Do these still factor into FICO scoring at all? Or did they ever? Is it only revolving credit lines that count? All types of credit count in your score. In fact credit mix is 10% of your total score. And closed accounts are still included in your mix.

Appreciate any info. thanks

---

[MarineVietVet]

---

@BigChad wrote:

another thought.... if I do get approved for a capitol one card, how soon would you ask for a credit line increase? Of course higher limits help the FICO score. I will always have my utilization under 9% so I'm not really worried about getting into debt trouble, but I hope to apply for a mortgage next yer, and want my FICO score to build up to 750+ before I do it.

---

I would wait 6 months to a year before asking for a CLI.

Higher limits in and of themselves are not counted in your score. It's the usage of that available credit that counts. A higher limit of course gives you more of a cushion against possible future CLD's.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[BigChad]

Thanks marine. I forgot that Au's inherit the credit history as well, so it's like my own card. Unfortunately it's my oldest account history, so if it ever closes (like when unfortunately mom dies, not being morbid just realistic) I'll lost that 1 card that is 10 years older than anything else I have.

What do you think, Should I aggressively try to open a couple more credit cards so that 10 years from now I'll have a good AAoA? I think I will go to the local Federal Credit Union this week and open a checking account. They offer a Visa card with 8% interest that also acts as overdraft protection (without any transaction fee) and no annual fee on the card. It sounds pretty good, I just hope I can qualify for it with a 640 FICO score, which is possibly lower now since I just applied for the Capitol One card.

My ultimate goal is to get the United Mileage Plus CC to get the bonus miles. I actually live in Russia teaching English most of the year, but end up traveling back to California at least once a year. I reeeeally want to travel first class one of these times, and I could never afford it, just will do it with miles someday.

Has anybody applied for the United Mileage Plus card with 640 FICO? Or if you have one, what was your FICO when you qualified? All info is greatly appreciated.

[MarineVietVet]

---

@BigChad wrote:

Thanks marine. I forgot that Au's inherit the credit history as well, so it's like my own card. Unfortunately it's my oldest account history, so if it ever closes (like when unfortunately mom dies, not being morbid just realistic) I'll lost that 1 card that is 10 years older than anything else I have.

What do you think, Should I aggressively try to open a couple more credit cards so that 10 years from now I'll have a good AAoA? I think I will go to the local Federal Credit Union this week and open a checking account. They offer a Visa card with 8% interest that also acts as overdraft protection (without any transaction fee) and no annual fee on the card. It sounds pretty good, I just hope I can qualify for it with a 640 FICO score, which is possibly lower now since I just applied for the Capitol One card.

My ultimate goal is to get the United Mileage Plus CC to get the bonus miles. I actually live in Russia teaching English most of the year, but end up traveling back to California at least once a year. I reeeeally want to travel first class one of these times, and I could never afford it, just will do it with miles someday.

Has anybody applied for the United Mileage Plus card with 640 FICO? Or if you have one, what was your FICO when you qualified? All info is greatly appreciated.

---

My newest card is almost 6 years old and will probably be the last one I ever get so I try not to get into recommendations like that. I'll let others with knowledge of current trends and events advise you.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work