Should I become AU on CC

[jimblack]

my scores are all around 620 -630 range.  I have very high UT around 95% which will all be paid off next month.  We are getting ready to apply for new mortgage soon and really trying to get my scores as high as possible.  My dad has a mastercard with limit around 20K and has paid it off every month.  This card is prob 15 years old.  Should I have him add me as AU and will they have to hit my credit to do this?

What kind of a jump should I expect to see from being added as AU?

According to simulater, as soon as I pay off my 20k in revolving my score jumps to around 700

[haulingthescoreup]

It will help if he has very low balances post. What counts is what posts (what is listed on the statement), not whether he then pays it all off or not.

He can add you as an AU (if the lender permits) without your reports being "hit" in most cases, but there might always be exceptions.

American Express often (always?) softs potential AU's, but I haven't heard of them doing a hard, but you're talking about an MC, of course.

What else (what other negs) is going on with your reports besides high util? If your reports were otherwise clean, I'd expect higher than 700.

If all your CC's will be paid off and updated next month, the AU card is kinda pointless. Probably won't hurt, UNLESS he lets high balances report before paying them off.

Anyway, no telling what might happen to your scores, because all you've mentioned is your high util.

[jimblack]

Thanks for your insight.  What he does is pay off balance by due dates so I would assume what posts are only 0 balances. I just found out this card has been open since 89 and has always been paid off and carries a 22k limit.  So that should help.

I was also a AU on a home depot card with a 15k limit and a 10250 balance that I was removed from today.

I should get a good bump when all these accounts post 0 balance in next few days.  I have one collection from hospital last year that I paid but can seem to get any HIPAA info on getting this removed from CRA.  I mistakenly paid the CA instead of OC..........oh well.

Thanks for input

[haulingthescoreup]

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@jimblack wrote:

Thanks for your insight.  What he does is pay off balance by due dates so I would assume what posts are only 0 balances. I just found out this card has been open since 89 and has always been paid off and carries a 22k limit.  So that should help.

I was also a AU on a home depot card with a 15k limit and a 10250 balance that I was removed from today.

I should get a good bump when all these accounts post 0 balance in next few days.  I have one collection from hospital last year that I paid but can seem to get any HIPAA info on getting this removed from CRA.  I mistakenly paid the CA instead of OC..........oh well.

Thanks for input

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Actually, the only way that $0 will post is if he pays the card off BEFORE the statement drops, not before the due date. It's the balance on the statement that is reported with almost all cards (exceptions: HSBC/ Orchard bank cards; US Bank CC's.) So if he charges $3000 during the month and pays it off when the statement drops, that $3K will report, not $0.

Anyway, good idea getting off the HD card!