topic Re: joint cardmember in Credit Cards

joint cardmember

Anonymous — Fri, 02 Nov 2007 17:46:02 GMT

I am being added to a Discover card as a Joint Cardmember and wanted to know about how much of a jump I can expect on my credit scores. the card has a TL starting in 1987 and is in excellent standing and always has been.

Thanks

Re: joint cardmember

SmartCookie — Fri, 02 Nov 2007 17:50:31 GMT

No way to know for certain but I would venture to say a decent one proportionally. Especially if there is a nice CL on it.

Re: joint cardmember

MidnightVoice — Fri, 02 Nov 2007 17:57:41 GMT

carriewink wrote:
I am being added to a Discover card as a Joint Cardmember and wanted to know about how much of a jump I can expect on my credit scores. the card has a TL starting in 1987 and is in excellent standing and always has been.
Thanks

That depends very much on what your scores are now, how much your utilization changes, and how much it affects your average age of account. For example, some posters have 42 CCs, so adding one 20 year old card will only improve their average by less than 6 months.

It also depends on the utilization of the discover card - some here have reported being added to cards that have a high util has reduced their scores.

Re: joint cardmember

Anonymous — Fri, 02 Nov 2007 18:33:57 GMT

my scores right now are low and in rebuilding stage currently the FAKO' s I have as of today are

EX 523 EQ 514 TU 512

But I have gotten a total of 19 bad accounts off my report in the last 2 months and have 24 more to go

the card has a $0 balance on it and is rarely used(only at christmas) it also has a 40k limit on it

I currently have 4 cc they are

Orchard Bank $300.00 Limit Bal is 225.00

First Premier 1 250.00 Limit Bal is 227.00

First Premier 2 250.00 Limit Bal is 240.00

Credit One 200.00 Limit and Bal is 150.00

*working on getting these to $0 withen the month

Thanks again really would like to know how much of a bump I can expect.

Message Edited by carriewink on 11-02-2007 11:33 AM

Re: joint cardmember

MidnightVoice — Fri, 02 Nov 2007 18:39:36 GMT

Well, the bad news is that as you seem to have about 30 accounts it will not do much for average age.

The good news is that it will reduce your util to practically zero, which I assume will be very good, but with all those derogs it might not be a huge jump.

Did Discover do a hard pull on you when you applied to become joint? Is your Joint status definite?

Re: joint cardmember

Creditaddict — Fri, 02 Nov 2007 20:20:29 GMT

What I could do with 40K LIMIT!!! HOT

Re: joint cardmember

haulingthescoreup — Fri, 02 Nov 2007 22:48:52 GMT

carriewink, I was added to DH's 1987 Discover card as an AU. As they are still (maybe) counting AU's the same as joint, maybe this will help: my FICO's went up and average of 18 points, as I went from 12 years oldest/ 3 years average to 18 years oldest/ 4 years average. It increased my total CL $14K, but there was util on it, and I already had a pretty decent total CL on my own, so that might be a wash.

One thing to watch out for: the increase in total age of my credit history is apparently what reassigned me to a new credit bucket (scorepool, etc.) As I am now being compared to others with pretty long credit history, my scores have dropped, because lates are "not done" in my new peer group. I hope this doesn't happen with you, but if it does, grit your teeth and keep going, because it will eventually allow your scores to go higher than they would have otherwise.

Re: joint cardmember

haulingthescoreup — Fri, 02 Nov 2007 22:50:28 GMT

@MidnightVoice wrote:
Did Discover do a hard pull on you when you applied to become joint? Is your Joint status definite?

And I would add, do you have any idea what your FICO's are? I want to go ahead and switch my AU to joint, but I'm afraid that my scores are still way too low, and I don't want to waste the inq. I can't find any answers as to whether they go easier on joint applicants.

Re: joint cardmember

MidnightVoice — Fri, 02 Nov 2007 23:07:30 GMT

Both Chase and my local Store pulled a hard to go joint

Re: joint cardmember

haulingthescoreup — Sat, 03 Nov 2007 00:03:52 GMT

MV, were your DW's scores about the same as yours when she went joint on the cards? I'm really dragging my feet on converting, because I don't want to waste an inq. I would like to have everything above 700 anyway, although that would probably put EQ at 235 or something. DH is 709 - 701- 779, I think. (There's a bogus CA on two reports that we don't want to mess with for now.)

Re: joint cardmember

MidnightVoice — Sat, 03 Nov 2007 00:14:31 GMT

@haulingthescoreup wrote:
MV, were your DW's scores about the same as yours when she went joint on the cards?

One was hers and one was mine. Both pulled a hard. My scores are only about 40 above hers

Re: joint cardmember

haulingthescoreup — Sat, 03 Nov 2007 00:18:08 GMT

Thanks!

Re: joint cardmember

Anonymous — Mon, 05 Nov 2007 14:53:56 GMT

I called them because i didnt want another inqiuiry on there for nothing and she said and asked another csr and they said they have never seen anyone not ok'ed for a joint user. dont have ficos wanted to get additional crap off report before i pulled them. Called Disc and they said they dont even report AU anymore you have to be a Joint before they report to the CRA's. So keep your fingers crossed.

Re: joint cardmember

Anonymous — Tue, 13 Nov 2007 17:53:45 GMT

Hot **bleep**!!! Showed up on my credit report this morning!!!

Cant believe it!

New Scores are EX 536 EQ 539 TU 515

Not great but atleast they are going up!!

Baddies EX 38 down to 22 EQ 44 down to 34 (TC) TU 31 down to 19

getting there slow but sure

Re: joint cardmember

haulingthescoreup — Tue, 13 Nov 2007 18:00:20 GMT

Nice work carriewink!

And thanks for the Discover update. It is showing as joint and not authorized, right?

Might be time for DH to give Discover a little ringy-dingy!

Re: joint cardmember

haulingthescoreup — Tue, 13 Nov 2007 18:23:48 GMT

@haulingthescoreup wrote:
Nice work carriewink!

And thanks for the Discover update. It is showing as joint and not authorized, right?

Might be time for DH to give Discover a little ringy-dingy!

edit: Just confirmed with Discover that, in most cases, they do not pull the scores of someone being added as a joint user. The CSR did say that they are still reporting AU status, though. I guess I'll see when they update us again on the 18th! thx again

Re: joint cardmember

Anonymous — Tue, 13 Nov 2007 19:06:05 GMT

hmm..... When I called before sending in the joint request they said (2 different csr's) that they dont update AU any longer nor do they report them. So congrats on getting them to!

As of this AM they have not pulled my credit report yet and it is listed as Joint

Re: joint cardmember

haulingthescoreup — Tue, 13 Nov 2007 19:11:57 GMT

Thanks for being my trail blazer! The AU thing might vary by region of the country, too. I'd bet if I took a day off and did nothing but call 100 different CSR's from the various CCC's and ask them questions, I'd wind up with approximately 127 different answers. If not more!

Re: joint cardmember with Discover

Anonymous — Tue, 15 Jan 2008 21:28:44 GMT

I am updating this thread from November, regarding making an AU user on a Discover card into a joint owner. Discover sent me a form to fill out and the form says they DO pull a hard inq for the person being added.

Any idea if there is a way to avoid this hard pull, and whether they would deny this request if the new jt owner has a discharged BK? Or do they only look at the FICO score?

Re: joint cardmember with Discover

fused — Tue, 15 Jan 2008 21:38:45 GMT

Boscoe wrote:

I am updating this thread from November, regarding making an AU user on a Discover card into a joint owner. Discover sent me a form to fill out and the form says they DO pull a hard inq for the person being added.

Any idea if there is a way to avoid this hard pull, and whether they would deny this request if the new jt owner has a discharged BK? Or do they only look at the FICO score?

While Discover does place a big emphasis on FICO scores, they are not BK friendly. In fact, Discover isn't easy to get an approval with even with no baddies and decent scores. I wouldn't app becuase you're likely to get TD. Sorry!