topic Re: AU Question... in Credit Cards

AU Question...

Anonymous — Sat, 06 Oct 2012 19:34:40 GMT

I was wondering if being adding as an au on an american express account with a $28,000 limit thats been open since 1996 would boost my credit score and if so by how much would you think?. I have a few baddies on my files but also have some store cards in good standing and a few credit cards but with low limits, say 500 each...scores right now low 600's..thanks for any input..

Re: AU Question...

Anonymous — Sat, 06 Oct 2012 19:45:45 GMT

@Anonymous wrote:
I was wondering if being adding as an au on an american express account with a $28,000 limit thats been open since 1996 would boost my credit score and if so by how much would you think?. I have a few baddies on my files but also have some store cards in good standing and a few credit cards but with low limits, say 500 each...scores right now low 600's..thanks for any input..

It can only help, but ymmv on how much. FICO has recently begun to reduce the positive impacts of au accounts, but their scoring model is proprietary so its hard to say exactly how beneficial it would be.

You might also try posting this over in understanding fico scoring to get more additional insight

Re: AU Question...

creditnocash — Sat, 06 Oct 2012 20:20:15 GMT

yes if you have reach to that. as long as util is low. i would do that.

you wont have the backdating(when you open a new account in your own name) but it will def help.. in the short and long run.

as for how much as stated. one cant exactly pin point because every case is different.

Re: AU Question...

Anonymous — Sat, 06 Oct 2012 20:29:34 GMT

The uti is fairly low on the account, maybe a few thousand on there with a credit limit of $28,000 so i think its under 10%. Its my moms card and she said she wanted to put me on there to help boost my score, not like i would ever use the card for my own since i want to build so i can get better cards but i doubt i will ever get to that kind of credit limit..lol

Re: AU Question...

creditnocash — Sat, 06 Oct 2012 20:55:52 GMT

any thing is possible. 2 years ago i had no credit and just inq. my mom jointly opened a best buy card with me (since i shop there alot being 19 at the time) and now i have my own amex and 13k in aval credit and im just starting.

obviously working and making a good income is a factor as well.

you should do that.

im not sure if amex reports all limits but that would help a large part.

even with the couple grand on the account.

just remember whatever she does with the card shows on your reports as well and vice versa.