Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
Re: AU to boost credit score?

Lasardo wrote:
I have always used debit cards, I felt if you didn't have the cash then don't spend it. What I did not understand is I should have been building credit history all these years (it's confusing to me too) all I have is a car loan that is 4.2 years old so that is my oldest accnt. I have read and been told I need to have someone put me on their card as and AU for at least 6 months so I can use their history as my own. My long time BF (8 years) has offered to put me on his card for the 6 months, I don't need a card just his history. What, if any, will this do for my score? I would like to at some point to possibly refinance my car at a better interest rate. All responses are welcome.

It should help your FICO score ~ revolving credit utilization is a very large component of your score.    If you have never had any credit cards at all then when the account shows on your reports it will boost your score, and hopefully enable you to obtain revolving credit in your own name and also get a better rate on your car loan.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX