Does Fico 8 recognize AU's?

[Anonymous]

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@Stryder wrote:

Would 2 be enough?

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Two is fine.  More than two would not be good.  The reason is that you are doing all this for a very particular reason -- to prepare for a home purchase in < 12 months.  The models that mortgage lenders use (as of today) are the very old FICO 04 and FICO 98 models.  That will change at some point but right this moment they are still using the old models.  And with these old models, your AU cards should count.

It's good that you are focused on this narrow issue (the AU cards, getting her cards of her own, etc.). 

But bear in mind that there are other things you will be wanting to do too.  For example, although of her three derogs, 1 has dropped off, another you believe will drop off soon, there is a third that is still on her report.  You need to work with the Rebuilding folks on getting advice about that last derog -- there may be a way to get it removed.  If so that will be a big help.  The old models are very punitive about old derogs.  Likewise if YOU have any derogs on YOUR reports, you need to get started ASAP on seeing if you can get those removed.

Finally you ought to be working on making sure that all of your credit cards get paid to $0 -- if that is at all possible.  After that you can start using one card and having it report with a positive balance.

[Stryder]

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@Anonymous wrote:

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@Stryder wrote:

Would 2 be enough?

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Two is fine.  More than two would not be good.  Totally agree... I looked at her accounts on CK, she has 2 installments, the car and a Conn's loan...the car is new and probably 85% util, the Conns is half done...both perfect payments

The Amex has hit EQ, so she shows 4 revolving accounts, no lates, zero bl's except for $10 on QS. The BoA Shows 2012, the others are >1yr.

Oldest show 4 yrs, AAoA 2 yrs

 She has 4 older closed Conns accounts..all perfect payments

But bear in mind that there are other things you will be wanting to do too.  For example, although of her three derogs, 1 has dropped off, another you believe will drop off soon, there is a third that is still on her report.  You need to work with the Rebuilding folks on getting advice about that last derog -- there may be a way to get it removed.  If so that will be a big help.  The old models are very punitive about old derogs. she has the same derog accross all 3B that falls off in june 2017, the one that falls off this month is still on TU? It fell off Eq and EX, the third derog is all gone. I will negotiate doing a pay for pull on the last one that is $827, but ck with the rebuilding folks first...

Likewise if YOU have any derogs on YOUR reports, you need to get started ASAP on seeing if you can get those removed. Mine will all be off this next month. I got an EE on EX already. ( I know YMMV) 

Finally you ought to be working on making sure that all of your credit cards get paid to $0 -- if that is at all possible.  After that you can start using one card and having it report with a positive balance.

on my revolving...I still owe $850 on my Sync Devil Card ( 11 months in on a 3 yr plan, $3k original),

All the others are Zero.  I am planning on my accounts to be clean, 6 yrs clean payments, $20k tcl, 4% util  by the end of the year. I am at 7% right now with SYNC the only one reporting.

You are awesome CGiD...I cant thank you enough for your advice..it takes a lot of effort on your part to respond to peoples issues. And I for one really appreciate it!.

I am working on this night and day on cleaning up my messes...it has consumed me...haha... but the results are so saaaweeeet! 

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[Anonymous]

You are very welcome, Aragorn.  :-)

Keep me posted how things go.

[Stryder]

lol,