topic Re: Raising my utilization ceiling through my wife CC's in Credit Cards

Raising my utilization ceiling through my wife CC's

Anonymous — Thu, 14 Jan 2016 23:20:12 GMT

I want to raise my utilization ceiling but I dont want to take on anymore HP's. I am trying to buy a house in just my name by Nov 2016. So here's a thought. What if my wife apped for CC's and added me as an authorized user. Would that effect my utilization? Do I get a HP being added as an authorized user?

Re: Raising my utilization ceiling through my wife CC's

Anonymous — Thu, 14 Jan 2016 23:23:26 GMT

@Anonymous wrote:
I want to raise my utilization ceiling but I dont want to take on anymore HP's. I am trying to buy a house in just my name by Nov 2016. So here's a thought. What if my wife apped for CC's and added me as an authorized user. Would that effect my utilization? Do I get a HP being added as an authorized user?

AU accounts do count towards overall utilization and there is no HP when you're added as one.

You should talk to your underwriter for your mortgage if you have one as any change to your credit report will be scrutinized.

Re: Raising my utilization ceiling through my wife CC's

Anonymous — Thu, 14 Jan 2016 23:27:35 GMT

It would lower your overall utilization by giving you access to more credit. It would also lower your AAoA which is not a good thing. Generally I don't think it would result in a HP. As I'm sure you know the preferred method to lowering utilization is by paying down the bal on your accounts. This will also be good for your DTI ratio when it becomes mortgage time.

Re: Raising my utilization ceiling through my wife CC's

myjourney — Thu, 14 Jan 2016 23:28:55 GMT

New cards will affect your AAoA possibly lowering your scores but since you have 10 months before house hunting shouldn't be that big a deal

Now had it been older history cards may have worked more in your favor

Re: Raising my utilization ceiling through my wife CC's

Anonymous — Thu, 14 Jan 2016 23:34:57 GMT

I'm on a 3 month plan to pay down all of my CC balances. Most of my CC (besides 2 opened in 2009) were aquired in or around oct 2015. But if she adds me as an authorized user to her older CC's then will that raise my AAoA?

Re: Raising my utilization ceiling through my wife CC's

myjourney — Thu, 14 Jan 2016 23:37:19 GMT

@Anonymous wrote:
I'm on a 3 month plan to pay down all of my CC balances. Most of my CC (besides 2 opened in 2009) were aquired in or around oct 2015. But if she adds me as an authorized user to her older CC's then will that raise my AAoA?

Yes if the cards are older than yours