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AU USER

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Amiashu12
Regular Contributor

AU USER

Hi Everyone. Here I am again looking for best suggestions. My obj Dischargibility is on 02/28/2020. I have burned Capital one, discover, barclays and goldman sachs. I have one loan that is paying on time and I just now added my self as an AU user for capital one card. How would this help me and what should I do to increase my scores? Thanks.

Message 1 of 7
6 REPLIES 6
blindambition
Senior Contributor

Re: AU USER

The AU account will help with history. Make sure the account holder doesn't have high utilization. That will hurt you. 
try for one pre- qual of your own. Disco, or Cap One. Even Open Sky which has no credit check pull. GL2U

Message 2 of 7
Amiashu12
Regular Contributor

Re: AU USER

Thanks for quick reply. I dont know if I sholud try any pre-qual before getting a discharge. And I dont know if I will get approved for any of these pre-qual. 

Message 3 of 7
blindambition
Senior Contributor

Re: AU USER

Wait until discharge, then try pre-qual. Pre-qual won't hurt credit. No inquiry. Cap One is very forgiving. Open Sky is opened with no credit check.

Optimal scoring for rebuild is 3 revolving cards and installment loan. Loan you have covered.

Message 4 of 7
FireMedic1
Community Leader
Mega Contributor

Re: AU USER

Always wait until up to 30 days after DC and make sure all creditors list themselves as IIB and $0. Then a score bump will occur. let the smoke clear first before making any moves for now. Theres no rush.


Message 5 of 7
Amiashu12
Regular Contributor

Re: AU USER

Thank you all. So, what should I do with the captial one account I added my self as an AU today? I was just trying and didnt know if Capital one was gonna let me back in as an AU after burning them. 

Message 6 of 7
FireMedic1
Community Leader
Mega Contributor

Re: AU USER

While it’s certainly not a substitute for building up your own credit history, it may be a good way to give your credit a nice boost as you’re getting started. Being an authorized user means you can use someone else’s credit card in your name. You can make purchases and use the card as if it were your own, but you’re not the primary account holder. If the account does show up on your credit reports, the primary account holder’s actions could impact your credit for better or for worse. If the primary account holder has a strong history of on-time payments, this can have a positive impact on your credit. On the other hand, if the primary account holder misses a payment on the card, your credit can take a beating — just one late payment can have a severe negative impact. The same goes for high credit utilization on the account.


Message 7 of 7
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