Uti Question

[Juss11]

My wifes uti is at like 52%. Would it help if I added her to my Barclays card I was just approved for? I have a $1,200 limit, and that would bring her uti down. If I did this would it help her scores since the account is so new? Trying to get her UTI down. Just paid it down from like 85%.

[daveg38]

Well, it could help or hurt her score.

Listing new accounts always initially drops scores; they go up or down from there depending on limit, UT, etc.

Provided her limit on the card that is at 52% is low, it could work.

Example:  Let's assume 52% was on a card with a $700; that would make her balance being utilized about $364.

Now, let's add $1200 to it (assuming that you'll not use it until it posts to her CR) 364 / 1900 = 19.1% - alot better.

[MarineVietVet]

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@Juss11 wrote:

My wifes uti is at like 52%. Would it help if I added her to my Barclays card I was just approved for? I have a $1,200 limit, and that would bring her uti down. If I did this would it help her scores since the account is so new? Trying to get her UTI down. Just paid it down from like 85%.

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There are certain criteria that need to be met for an AU to be helped:

1. The account needs to be older than any of hers (older than her current AAoA is even better),

2. The payment history needs to be long and clean,

3. The the utilization is very low,

4. And if it will report to the CRA's. Not all cards will do this. You need to ask the company first.

It sounds like #1 and #2 might be a problem.

[RobertEG]

The potential "hidden" impact of having an AU account on her CR will be the resulting usefulness of her scores to creditors.

Just as the consumer cant calculate their score with and without the inclusion of the credit history of another in their scoring, neither can creditors.

If a creditor wished to assess her risk based on only her own credit history, her FICO score would no longer provide that information.