topic Re: AU Question LEVEL:EXPERT in Credit Cards

AU Question LEVEL:EXPERT

bourgogne — Sat, 04 Nov 2017 16:27:48 GMT

Hi,

Helping an old friend that I come to find out only has a $ 500 credit one card – 1 year old – and an Ally car loan. She is 52. I know.

Pulling her CCT today to get an idea of how she looks overall but I assume an AU card or two are in her future.

Thinking future 5/24 what AU accounts are easy to get removed from a credit report? I have chase, amex, penfed, nfcu and cap1 to offer her.

I am leaning towards chase and amex but all thoughts on the matter are welcome. Really wish chase would offer separate admin of a card, would love to get points from her use but don’t really want to just hand over a card with my account fully exposed. If I give her a chase I think it will just be for reporting and not use because of this. Which of the lenders I listed offer a fresh # and the ability to set up a separate portal to manage the card?

Again, any ideas or comments on the topic most welcome. Thank you

Re: AU Question LEVEL:EXPERT

fltireguy — Sat, 04 Nov 2017 16:43:09 GMT

It seems that any AU cards are pretty easy to get off a credit report when you want to take them off. One unique thing with Chase is that the AU card Will have the same card number as your card. If you call Chase and cancel the AU, the card will still work, it just won’t report to the bureau anymore. That is one thing to watch with Chase. It can be good and bad.

Re: AU Question LEVEL:EXPERT

fltireguy — Sat, 04 Nov 2017 16:43:53 GMT

I should also add the CV3 Code will be identical to your card as well.

Re: AU Question LEVEL:EXPERT

Anonymous — Sat, 04 Nov 2017 16:47:07 GMT

Hi!

I just added my teenage daughter to my Amex, Cap1 and Chase CC accounts. With Amex and Cap1, I was able to set limits for the specific cards. This ' limit' is the amount she is able to spend monthly. My daughter will only have those two cards in her possession, the chase card will be put in a safe place. You may consider these options and this way you control the exposure.

Re: AU Question LEVEL:EXPERT

bourgogne — Sat, 04 Nov 2017 16:47:42 GMT

@fltireguy wrote:
I should also add the CV3 Code will be identical to your card as well.

right, chase is easy to remove but very limited. I know at least an amex charger is hard to remove and I have heard discover is impossible, dont have one and dont care. thx

Re: AU Question LEVEL:EXPERT

bourgogne — Sat, 04 Nov 2017 16:49:44 GMT

@Anonymous wrote:
Hi!

I just added my teenage daughter to my Amex, Cap1 and Chase CC accounts. With Amex and Cap1, I was able to set limits for the specific cards. This ' limit' is the amount she is able to spend monthly. My daughter will only have those two cards in her possession, the chase card will be put in a safe place. You may consider these options and this way you control the exposure.

thx, with the cap1 and amex can you set up a portal to contol them seperate from the main one? exposure I dont care about as much as control and being able to get the account off the report when desired.

Re: AU Question LEVEL:EXPERT

K-in-Boston — Sat, 04 Nov 2017 16:50:34 GMT

Yes, Chase can be an oddball like that. I remember when I added my wife as an AU on Freedom and had it changed to a VS, they screwed up and accidentally changed it to a FU VS. Took a few calls to get taken care of, but a few days later we received her Freedom Visa, a pair of Freedom Unlimited Visa Signature cards, and the correct pair of Freedom Visa Signature cards - all 5 of them had the same card number, same expiration and same CVV.

I have no experience with removing AUs, but one thing to note with Amex is that while the AU will get the benefit of the tradeline reporting and the credit line helping (or hurting, depending on the mix) their utilization, Amex now reports the card open date as the date the AU was added and previous account history is not imported. They are the only lender that I am aware of doing that. Also important to note that due to people adding AUs for a fee to help them with their credit, there are many instances where an AU account is completely ignored unless the primary account holder resides with you.

Re: AU Question LEVEL:EXPERT

bourgogne — Sat, 04 Nov 2017 17:43:33 GMT

thx + interesting re amex and what do you mean a fee...like credit one, maybe expand on this please

Re: AU Question LEVEL:EXPERT

Anonymous — Sat, 04 Nov 2017 19:55:40 GMT

@bourgogne wrote:
@Anonymous wrote:
Hi!

I just added my teenage daughter to my Amex, Cap1 and Chase CC accounts. With Amex and Cap1, I was able to set limits for the specific cards. This ' limit' is the amount she is able to spend monthly. My daughter will only have those two cards in her possession, the chase card will be put in a safe place. You may consider these options and this way you control the exposure.
thx, with the cap1 and amex can you set up a portal to contol them seperate from the main one? exposure I dont care about as much as control and being able to get the account off the report when desired.

Yes, you can control the cap1 and amex cards seperate from the main card.

Re: AU Question LEVEL:EXPERT

simplynoir — Sat, 04 Nov 2017 20:03:04 GMT

Where can you control the limits of the CapOne on the website for AUs? Or do you have to call customer service to do it? Thought AMEX was the only lender to allow set limits for AUs.

Re: AU Question LEVEL:EXPERT

UncleB — Sun, 05 Nov 2017 13:09:51 GMT

@simplynoir wrote:
Where can you control the limits of the CapOne on the website for AUs? Or do you have to call customer service to do it? Thought AMEX was the only lender to allow set limits for AUs.

I have an AU on one of my Capital One cards, and I can lock the card but I've never noticed a place on the app or website to give the card a different credit limit.

Re: AU Question LEVEL:EXPERT

K-in-Boston — Sun, 05 Nov 2017 14:31:23 GMT

@bourgogne wrote:
I have no experience with removing AUs, but one thing to note with Amex is that while the AU will get the benefit of the tradeline reporting and the credit line helping (or hurting, depending on the mix) their utilization, Amex now reports the card open date as the date the AU was added and previous account history is not imported. They are the only lender that I am aware of doing that. Also important to note that due to people adding AUs for a fee to help them with their credit, there are many instances where an AU account is completely ignored unless the primary account holder resides with you.

thx + interesting re amex and what do you mean a fee...like credit one, maybe expand on this please

For example, let's say Amex was still back-dating AU cards. Since they offer up to 99 Gold cards at no fee on my Platinum account, I offer to add total strangers as AUs on a 15 year-old card with perfect payment history for a fee of say $500, but do not actually give them a card to use. In times past this would work. Fortunately, the card issuers and credit bureaus caught on to this and have adjusted their algorithms so that if there is not a true relationship between the primary card member and the AU, the account is ignored.

Re: AU Question LEVEL:EXPERT

Anonymous — Sun, 05 Nov 2017 14:34:37 GMT

@ simplynoir: When I added the AU, via the online portal, I was able tip set up the spend limit.

Re: AU Question LEVEL:EXPERT

simplynoir — Sun, 05 Nov 2017 15:19:47 GMT

I have been all over the online portal and haven't found anything anywhere to set it. Where is it at?

Re: AU Question LEVEL:EXPERT

bourgogne — Sun, 05 Nov 2017 16:01:40 GMT

thx for the responses all. @KinB thx re the amex info. I did a freecreditscore on her and its pretty dim, 3 accounts; car loan from 8/15, paid med collection which I thin I can removed and a $ 500 credit one from 12/16 that is @ 108%. great lol. ex @ 613. I gave her 3 accounts; a $37K cap1, a $30K amex ed and a $20K chase fu. that should help things get moving. the chase will not be given to her, the ed and cap1 used I they are sd but pif, the credit1 paid down to $10 and it will be the card that reports as I pif the fu. pob changed to a physical. no pre-quals but that should change..its like a 21 year old 52 year old, let the games begin..

Re: AU Question LEVEL:EXPERT

Anonymous — Sun, 05 Nov 2017 22:53:04 GMT

I have been all over the online portal and haven't found anything anywhere to set it. Where is it at?

Log in; select More Account Services. A window should pop up.

Select Account Services and then select " Under Account Users, select Control your card."

Re: AU Question LEVEL:EXPERT

simplynoir — Sun, 05 Nov 2017 23:14:16 GMT

That's where I'd thought it'd be but I have no selection labeled "control your card" anywhere. I'm wondering if it's something new or maybe my account is glitchy or who knows. Thanks for the help regardless though.

Re: AU Question LEVEL:EXPERT

Kforce — Sun, 05 Nov 2017 23:35:16 GMT

@K-in-Boston wrote:
The card issuers and credit bureaus caught on to this and have adjusted their algorithms so that if there is not a true relationship between the primary card member and the AU, the account is ignored.

This is my understanding (K-in-Boston said it well)

You might see little or no gain from adding her as an AU.

Her credit needs to be improved the old fashioned way. No quick fixes here.

Nice of you to try and help.

Re: AU Question LEVEL:EXPERT

Anonymous — Sun, 05 Nov 2017 23:38:45 GMT

@simplynoir wrote:
That's where I'd thought it'd be but I have no selection labeled "control your card" anywhere. I'm wondering if it's something new or maybe my account is glitchy or who knows. Thanks for the help regardless though.

When I log on, I click view my account, this is where it shows my limit, usage and the like. After I click there, when the window opens up with the credit card information, under that info is: Track my credit score, View Statements, Set up Auto Pay, and last (off to the right) is + More Account Services.

I hope this information is helpful, I tried to attach a screen shot, but not successful. I hope you are able to locate it.

Re: AU Question LEVEL:EXPERT

simplynoir — Mon, 06 Nov 2017 00:41:12 GMT

Sounds like your account interface is still on the old one because I can recall what you're mentioning.