topic Re: Adding parent as AU in Credit Cards

Adding parent as AU

Anonymous — Fri, 07 Aug 2015 03:13:33 GMT

Is this a bad idea? I want to add them to:

increase my spending on the card.

WITHOUT

hampering their credit score.

My parents have their own cards (20+ years) and have scores above 820.

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 01:24:30 GMT

@Anonymous wrote:
Is this a bad idea? I want to increase my spending on the card.

Why would it be a bad idea?

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 01:28:59 GMT

It affects their credit, no?

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 01:33:54 GMT

Monoglot wrote:
It affects their credit, no?

Yes it does

Re: Adding parent as AU

kdm31091 — Fri, 07 Aug 2015 01:36:56 GMT

Actually I think it could definitely be a bad idea, if your parent ends up being the type who is irreponsible, spends without paying you back etc.

My feeling is: they're our parents. They're older and have had more time to establish credit. They should have better credit than us without us having to "help" them and potentially get in trouble in the process if they "mess up". Plus, you're mixing finances and family. To me....can of worms and I won't do it. And yes, my mom has asked me to!

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 01:38:24 GMT

That won't be a problem. They are responsible spenders.

I was only concerned about their credit.

Re: Adding parent as AU

kdm31091 — Fri, 07 Aug 2015 01:45:13 GMT

@Anonymous wrote:
That won't be a problem. They are responsible spenders.

I was only concerned about their credit.

No, credit wise it can really only help them, unless the account you are adding is in bad standing of course.

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 01:49:50 GMT

Isn't your whole intent to give them a card that they will make charges on to increase the spending of your card and has nothing to do with credit issues? If so, there is no problem in doing that as long as they agree :-)

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 01:51:59 GMT

I would lay everything out on the table here. Both parents, both sets of scores, number of inquiries, etc. Goals, etc. Theres only so much AU can do for improvement.

Unless you have some wild 15 year old credit card with perfect payment history and a high limit, its not going to cure their score woes, and even then....

I would advise you to add them as an AU to your best card that you dont use much, then cut theirs up. See what cards they prequalify for if any. Set up one of their utility bills to automatically go on a card. Then maybe add them as an AU to your lowest limit card.

Now what I REALLY want to do but cant get the courage to ask, I have a family member with a 30k limit Bank of America card. I have helped them get some rewards. I would really like to be added as an AU, and cut the card up, and just see what 15 years of payment history and 1 percent util, what it does to my scores. No matter how many cards I add, my AAOA barely changes....

Re: Adding parent as AU

kdm31091 — Fri, 07 Aug 2015 01:57:38 GMT

@Anonymous wrote:
I would lay everything out on the table here. Both parents, both sets of scores, number of inquiries, etc. Goals, etc. Theres only so much AU can do for improvement.

Unless you have some wild 15 year old credit card with perfect payment history and a high limit, its not going to cure their score woes, and even then....

I would advise you to add them as an AU to your best card that you dont use much, then cut theirs up. See what cards they prequalify for if any. Set up one of their utility bills to automatically go on a card. Then maybe add them as an AU to your lowest limit card.

Now what I REALLY want to do but cant get the courage to ask, I have a family member with a 30k limit Bank of America card. I have helped them get some rewards. I would really like to be added as an AU, and cut the card up, and just see what 15 years of payment history and 1 percent util, what it does to my scores. No matter how many cards I add, my AAOA barely changes....

Technically, can't the AU call up and get a replacement card, even if you cut their original one up?

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 02:02:35 GMT

@kdm31091 wrote:
@Anonymous wrote:
I would lay everything out on the table here. Both parents, both sets of scores, number of inquiries, etc. Goals, etc. Theres only so much AU can do for improvement.

Unless you have some wild 15 year old credit card with perfect payment history and a high limit, its not going to cure their score woes, and even then....

I would advise you to add them as an AU to your best card that you dont use much, then cut theirs up. See what cards they prequalify for if any. Set up one of their utility bills to automatically go on a card. Then maybe add them as an AU to your lowest limit card.

Now what I REALLY want to do but cant get the courage to ask, I have a family member with a 30k limit Bank of America card. I have helped them get some rewards. I would really like to be added as an AU, and cut the card up, and just see what 15 years of payment history and 1 percent util, what it does to my scores. No matter how many cards I add, my AAOA barely changes....

Technically, can't the AU call up and get a replacement card, even if you cut their original one up?

Excellent point. I'm sorry, but if that AU is that type of person, they ain't becomming an AU! lol

Re: Adding parent as AU

kdm31091 — Fri, 07 Aug 2015 02:05:20 GMT

@Anonymous wrote:
@kdm31091 wrote:
@Anonymous wrote:
I would lay everything out on the table here. Both parents, both sets of scores, number of inquiries, etc. Goals, etc. Theres only so much AU can do for improvement.

Unless you have some wild 15 year old credit card with perfect payment history and a high limit, its not going to cure their score woes, and even then....

I would advise you to add them as an AU to your best card that you dont use much, then cut theirs up. See what cards they prequalify for if any. Set up one of their utility bills to automatically go on a card. Then maybe add them as an AU to your lowest limit card.

Now what I REALLY want to do but cant get the courage to ask, I have a family member with a 30k limit Bank of America card. I have helped them get some rewards. I would really like to be added as an AU, and cut the card up, and just see what 15 years of payment history and 1 percent util, what it does to my scores. No matter how many cards I add, my AAOA barely changes....

Technically, can't the AU call up and get a replacement card, even if you cut their original one up?
Excellent point. I'm sorry, but if that AU is that type of person, they ain't becomming an AU! lol

I guess I'm biased because sadly, I wouldn't put it past my mom which is why I have always told her "no".

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 02:09:13 GMT

@kdm31091 wrote:
@Anonymous wrote:
@kdm31091 wrote:
@Anonymous wrote:
I would lay everything out on the table here. Both parents, both sets of scores, number of inquiries, etc. Goals, etc. Theres only so much AU can do for improvement.

Unless you have some wild 15 year old credit card with perfect payment history and a high limit, its not going to cure their score woes, and even then....

I would advise you to add them as an AU to your best card that you dont use much, then cut theirs up. See what cards they prequalify for if any. Set up one of their utility bills to automatically go on a card. Then maybe add them as an AU to your lowest limit card.

Now what I REALLY want to do but cant get the courage to ask, I have a family member with a 30k limit Bank of America card. I have helped them get some rewards. I would really like to be added as an AU, and cut the card up, and just see what 15 years of payment history and 1 percent util, what it does to my scores. No matter how many cards I add, my AAOA barely changes....

Technically, can't the AU call up and get a replacement card, even if you cut their original one up?
Excellent point. I'm sorry, but if that AU is that type of person, they ain't becomming an AU! lol
I guess I'm biased because sadly, I wouldn't put it past my mom which is why I have always told her "no".

Aww. Yeah its probably always a safe bet to just say no....but its a gut thing... LOL I am all trying to stop apping for things, so I am grabing friends and relatives, getting them cards, and telling them which to use... these cards need way better referral bonuses.....

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 02:17:06 GMT

What is the purpose of putting your parents on your cards. Do they have bad credit, no credit. Are you trying to help them rebuild?

The reasons are important. You could add them on a couple of cards if the reasons are right, but keep the cards.

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 03:13:11 GMT

Hey guys I edited my original post to make it more clear.

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 04:16:57 GMT

I have a Dillards amex. I got it for sneaky twitter offers, and to get on speaking terms with WF, as I have a 2012 repo with them. My mom buys from Dillards but doesn't have an account with them. She would reap rewards if it became "her card," maybe I'd get auto increases. I know most people are here to rebuild scores but sometimes authorized users is a good method for twice as many accounts without literally twice as many accounts. Leads to twice as many inquiries and twice as many new accounts dragging down your stats

Re: Adding parent as AU

OmarGB9 — Fri, 07 Aug 2015 04:35:48 GMT

I added my mom as an AU to my freedom. Definitely helps up my spend on it lol. But she always pays me back what she charges so we're okay.

Re: Adding parent as AU

Anonymous — Fri, 07 Aug 2015 13:22:12 GMT

I trust my mom with all my heart and she's more responsible than I am but I'm keeping my finances separate. If she needs something for me she can always ask and vice versa! Although it's usually me doing the asking, lol.?