Will adding an AU hurt MY credit score?

[BlueHusky]

Hey guys, I need some help with something..

My mom's credit is not so good (bankruptcy, now has no credit cards since discharge), and she's trying to refinance her mortgage. The bank said she's a few points shy of the score they want to see, and that if she can boost it she'll be able to refinance. She tried to apply for a credit card a few months ago and was denied, so she's afraid to try again and get the inquiry, bringing her even further from her goal...so..

1. If I add her as an AU on one of my cards, will it help her?

2. Will it help her even more if I add her as an AU to even MORE cards, like 2 or 3 of them?

3. Would it be better to add her to a prime line with a high CL (Amex $12,500) or a card that I've had for 3-4 years (like my BoA card with a $3,000 CL).

4. Would it hurt me at all to add her as an AU?

Thanks so much!

[snowangel]

I think it helps if it doesn't decrease her AAoA and utilization on the card is low.  It doesn't affect you at all.

[BlueHusky]

Well all of her credit cards were discharged in the bankruptcy, so isn't her AAoA 0 now?

And I have nothing on the cards I would be adding her on.

[pizzadude]

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@BlueHusky wrote:

Well all of her credit cards were discharged in the bankruptcy, so isn't her AAoA 0 now?

And I have nothing on the cards I would be adding her on.

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AAoA is calculated based on both the closed & open accounts on your credit reports.   So if her accounts are older than yours it might slightly reduce her AAoA.   If the cards have zero balances then that should be good, also they hopefully have no negatives or lates.   

[snowangel]

I'm not sure how bankruptcy reports or affects TLs on reports so maybe someone else can help you there.  If balances are low, it's a big plus!  Also, my score jumped a few points when I opened my second credit card so maybe adding her to both could be helpful if the AAoA isn't an issue.

[BlueHusky]

I don't know then...is having her being an AU on credit cards (remember she has no OPEN CC accounts anymore) and better than the hit on her AAoA then?

[BlueHusky]

So does anyone else know?

[Creditaddict]

Add her to Amex! really I mean even do both cards!

Wont effect you at all.

[BlueHusky]

Well will it hurt her?

Her AAoA according to creditkarma is 4 years. Mine will be 3 years, so that will go down. If I add the AMEX it will go down a lot, since I JUST got the AMEX this week. She has no other CCs so no utilzation decrease...but maybe it will look good for her to be an AU on it anyway? I just don't know if it will help. Someone said it looks bad for mortgages because adding more CCs increases risk because of more potential debt?

[Creditaddict]

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@BlueHusky wrote:

Well will it hurt her?

Her AAoA according to creditkarma is 4 years. Mine will be 3 years, so that will go down. If I add the AMEX it will go down a lot, since I JUST got the AMEX this week. She has no other CCs so no utilzation decrease...but maybe it will look good for her to be an AU on it anyway? I just don't know if it will help. Someone said it looks bad for mortgages because adding more CCs increases risk because of more potential debt?

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I would be BEYOND shocked if someone with BK and NO current Credit outside of House? score would go down based on AAoA.

The worse the credit I feel the less you are effected by INQ or new accounts.