Lenders that take AU's into Account....

Andy77 · ‎05-08-2020

Hello... are there any lenders that take into account AU's more than others ?

I am an AU on my mothers Chase Visa opened in Sept 1965, 23k limit 2k balance

I am asking this question because that is a long, long time to have a CC and if I can find a lender that will take into account that AU account more than another lender, I will app with them.

Thank you

Anonymous · ‎05-08-2020

@Andy77 wrote:

Hello... are there any lenders that take into account AU's more than others ?

I am an AU on my mothers Chase Visa opened in Sept 1965, 23k limit 2k balance

I am asking this question because that is a long, long time to have a CC and if I can find a lender that will take into account that AU account more than another lender, I will app with them.

Thank you

Your question does not have a simple answer since its unlikely that anyone knows or could publicly discuss how FICO's anti-abuse algorithm handle authorized user accounts. I suppose you're looking for a lender that primarily or exclusively does manual underwriting since an automatic review will consider many variables, and may also exclude or devalue authorized user accounts. Unfortunately manual underwriting will not overlook your recent Chapter 7 BK.

Andy77 · ‎05-08-2020

Yes, of course a manual review won't overlook any BK on a report, but the reviewer will also see an AU account with perfect history for 51 years, which has to count for something (I know the BK takes presidence).

Anonymous · ‎05-08-2020

@Andy77 wrote:

Yes, of course a manual review won't overlook any BK on a report, but the reviewer will also see an AU account with perfect history for 51 years, which has to count for something (I know the BK takes presidence).

It probably counts for something if the FICO anti-abuse algorithm does not exclude it. However, as an AU you are not legally responsible for the account and that fact alone would also negate any possible benefit, especially in the presence of a major derogatory.

Anonymous · ‎05-08-2020

regions bank. my friend was a au on 3 accounts and had only one credit card herself that was just a month old and she was approved for a sl of 10k. i'm not sure if your situation would make the outcome different, but you could try to prequalify on their website. i know they pull transunion, and they usually give pretty decent sl's.

Anonymous · ‎05-09-2020

@Anonymous wrote:
regions bank. my friend was a au on 3 accounts and had only one credit card herself that was just a month old and she was approved for a sl of 10k. i'm not sure if your situation would make the outcome different, but you could try to prequalify on their website. i know they pull transunion, and they usually give pretty decent sl's.

3mo ago I did the prequal and they were offering 10K SL. I didn't take the offer but I tried again today just for checking sake. And they are only checking offers for existing clients only. I say still go for it, but open a checking account first.

Anonymous · ‎05-14-2020

Hey Andy77, I recently in (2020) opened a chase college checking account and also an BOA college checking both in person - BOA said we do NOT take into account the AU account but, come back into the bank to apply for a card when you turn 18 and we will get you set up - pre covid 19 ) ...Chase also mentioned AU account and said to come back @ 18 years old and we will get you set up with something good for college! ?

Then Covid 19 crashed the party😪