topic Re: HELP!!!!!!! in Credit Cards

HELP!!!!!!!

Anonymous — Sat, 18 Aug 2007 15:03:14 GMT

I want to get a new credit card with a high credit limit my scores are around 670's now, should i wait for an au account to show up on my credit report, which will improve my score or should i apply first?

Re: HELP!!!!!!!

SpecFile — Sat, 18 Aug 2007 15:10:02 GMT

Being an AU will no longer help you. The CRAs are using a new system which will disregard your status as an AU. I would look for a good card and apply if I were you.

Re: HELP!!!!!!!

VLGaffEsq — Sat, 18 Aug 2007 15:14:31 GMT

If you are absolutely sure your "AU addition" will raise your FICO score, then by all means wait until that benefit hits your FICO scores, then apply. The higher your FICO scores (and the less your debt ratio), the better your chances are of getting the best credit card with the lowest interst rates and the highest possible credit limits. Try for Citibank's Dividends Select MC when your ready...

Re: HELP!!!!!!!

VLGaffEsq — Sat, 18 Aug 2007 15:15:44 GMT

I do not believe the "AU issue" has kicked in yet...FYI.

Re: HELP!!!!!!!

SpecFile — Sat, 18 Aug 2007 15:20:50 GMT

VLGaffEsq wrote:
I do not believe the "AU issue" has kicked in yet...FYI.

I read somewhere that one of the CRAs is using the new system. The others will follow at the first of the new year if not sooner. I still wouldn't rely on an AU status to raise my score for very long.

Good Luck.

Re: HELP!!!!!!!

Anonymous — Sat, 18 Aug 2007 15:24:51 GMT

thank you all, I know the au will kick in soon, but not yet. the au account is my boyfriend's account 18k and 15 years old never late and he owe nothing on it. the oldest account i have is 5 years old.

Re: HELP!!!!!!!

SpecFile — Sat, 18 Aug 2007 15:27:53 GMT

jasminegedeon wrote:
thank you all, I know the au will kick in soon, but not yet. the au account is my boyfriend's account 18k and 15 years old never late and he owe nothing on it. the oldest account i have is 5 years old.

Five years is not that bad. Before you know it you'll have five more. That is an outstanding CL. I hope they report it soon for you.

Good Luck!

Re: HELP!!!!!!!

Anonymous — Sat, 18 Aug 2007 15:39:47 GMT

lol. i hope so too because i will never get a limit like that on my own any time soon 6500 is my highest. you know i paid off a ca and my score went up 42 points!! can you guys believe this woo hoo!!

Re: HELP!!!!!!!

SpecFile — Sat, 18 Aug 2007 15:54:54 GMT

Very nice! Congrats.

Re: HELP!!!!!!!

Anonymous — Sun, 19 Aug 2007 01:32:18 GMT

you know i still don't know which cards i should apply for, I don't want to be wasting an inquiry on an instant-denial or something like that. can anyone help?

Re: HELP!!!!!!!

Anonymous — Sun, 19 Aug 2007 04:13:06 GMT

@VLGaffEsq wrote:
I do not believe the "AU issue" has kicked in yet...FYI.

As of next month it will kick in for Experian, so adding an AU now will likely have no effect by the time it gets added to your CR.

Equifax and TransUnion are going to be moving to the new scoring model early next year so it could still help of those two for the time being.