topic Re: Chase Piggybacking Data Points?? in Understanding FICO® Scoring

Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 02:50:55 GMT

Hey guys 21, with 5 Credit cards but a collective AAoA of 9 months so relatively new. Utilization always at 0% max 2% never missed a payment no derogs nothing negative but inquiries for those 5 cards plus denied for 2 others.
TU -717
EQ - 725
EX - 747

I'm fortunate enough to have a dad with excellent credit 825-830 depending on the bureau...today he added me on his Chase account as an authorized user it has a 25k limit and the account has been open for 12 years no missed payments no negatives.

What can I expect as far as my AAoA? Will his 12 years on that account really take effect to my AAoA? And how many points should I expect to see with this new account on my report?

Or instead of trying to guess what my score will be which is unrealistic will anyone share their before and after scores after being in a similar situation? Thanks !

Re: Chase Piggybacking Data Points??

MrDFinance — Sun, 09 Sep 2018 03:05:42 GMT

Yes .. that is the reason people seek AU to help their credit.... The account will show on your report as if it is your own..... It will effect everything from utilization, Total credit limit and AAoA
Adversely same applies to any negative information associated with the AU account

Re: Chase Piggybacking Data Points??

Brian_Earl_Spilner — Sun, 09 Sep 2018 02:57:26 GMT

I'm not gonna comment on the effects on your score, I'll leave that to people more knowledgeable. I just found it a little ironic that you're an AU on a Chase card, and Chase is one of the banks that will factor out AU cards and stats. Lol

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 03:07:06 GMT

I hate chase my first denial was from them so bad taste in my mouth even though it was completely my fault for applying with a 4 month credit history lol! As long as they report it to the 3 bureaus like they said it would and everything I read I don't care about Chase and their stupid 5/24 rules and regs plenty of other lenders out there ! Reminds me of the planet fitness of CC's.

Re: Chase Piggybacking Data Points??

Brian_Earl_Spilner — Sun, 09 Sep 2018 03:10:00 GMT

@Anonymous wrote:
I hate chase my first denial was from them so bad taste in my mouth even though it was completely my fault for applying with a 4 month credit history lol! As long as they report it to the 3 bureaus like they said it would and everything I read I don't care about Chase and their stupid 5/24 rules and regs plenty of other lenders out there ! Reminds me of the planet fitness of CC's.

Dont let emotion get the best of you. I LOVED and miss the Ultimate Rewards. Unfortunately, that 5/24 rule will keep me away for a while. Which is fine as I am nowhere near ready to get a Chase card again.

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 04:34:00 GMT

Bump.

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 14:05:34 GMT

@Anonymous wrote:
Bump.

Bumping your own threads is frowned upon by the moderators here. Just an FYI.

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 14:16:45 GMT

@Anonymous wrote:
Hey guys 21, with 5 Credit cards but a collective AAoA of 9 months so relatively new....

What can I expect as far as my AAoA? Will his 12 years on that account really take effect to my AAoA? And how many points should I expect to see with this new account on my report?

The important scoring factor (when adding a much older AU account) is not your AAoA (Average Age of Accounts). That gets some help, but it is not as important in this situation as your AoOA (Age of Oldest Account). We do not know your AoOA so it is hard to make guesses.

It sounds like you do not know how to compute AAoA. I suggest you go to the General Credit room and ask for help in learning how to do that.

We also do not know whether Chase will give you a "Date Opened" of 12 years ago or 1 month ago. They might do either. I suggest you hold off on the guesswork until the account appears. Then you can pull your three FICO 8 scores with CCT for $1 and see what happens. FICO 8 sometimes ignores an AU account in terms of its scoring, so that's one more reason you might get no boost. Wait and see.

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 14:21:16 GMT

@Anonymous wrote:
Hey guys 21, with 5 Credit cards but a collective AAoA of 9 months so relatively new. Utilization always at 0% max 2%.....

If your utilization is always at 0% then it could never be 2%. Can you clarify?

BTW, a utilization of 0% means that all cards are reporting at $0. FICO will impose a 15-20 point penalty when you do that. That penalty is removed as long as you have one card reporting a small positive balance.

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 16:19:41 GMT

What I meant was one month I had a balance of 2% of my available CL.

Re: Chase Piggybacking Data Points??

Anonymous — Sun, 09 Sep 2018 19:05:33 GMT

@Anonymous wrote:
What I meant was one month I had a balance of 2% of my available CL.

OK. Thanks. In that case your reported utilization is not always 0%. Probably you meant that most of the time it is.

If by 0% you meant that all cards report $0, then that will hurt your score by 15-20 points. You can avoid that penalty by having one card reporting a small positive balance.