Multiple Applications after a HP

[Brian_Earl_Spilner]

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@Anonymous wrote:

This brings up a thought. Do some people just use the roulette method when apping, rather than putting in the research?

You'd think with the technological age we're in, more and more people would be slighly more informed with certain decisions.

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Regular people don't research. They see Samuel L. Jackson asking what's in their wallet and think they should have a capital one in their wallet.

[M_Smart007]

Marketing

[Anonymous]

Thanks for all the answers here guys. I just spoke to a friend of mine that has a 30 year history on an open AMEX Platinum, he said he could add me as an Authorized user. In terms of the average length issue Chase gave me, would being added as an AU fix this or is there something else I then have to be aware of? With opening that AU account I would be att 2/24, my other cards have an average age of 2.3 years, I will also wait with the next app until my a score is above 700.

[FinStar]

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@Anonymous wrote:

Thanks for all the answers here guys. I just spoke to a friend of mine that has a 30 year history on an open AMEX Platinum, he said he could add me as an Authorized user. In terms of the average length issue Chase gave me, would being added as an AU fix this or is there something else I then have to be aware of? With opening that AU account I would be att 2/24, my other cards have an average age of 2.3 years, I will also wait with the next app until my a score is above 700.

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An item to keep in mind, if you are added as an AU on your friend's AmEx, the history will not backdate.  AmEx will plop that account on your CRs and will report as a new tradeline (depending on when it gets added).  So, in terms of AAoA, it will not help and if you are considering Chase, the AU account will be factored into the 5/24 restriction. 

[Anonymous]

Ok, thats what I was afraid of, so no point adding the Amex account as AU then.

I found this online:

Authorized user backdating

For older kids, you could identify your oldest credit card accounts and add them as authorized users to those accounts.  Usually banks report the account open date as the date that you requested the authorized user card, but a few report your original account opening date.

The following card issuers are known to back-date authorized user accounts:

• Capital One (source: MyFICO thread)
• Chase (source: MyFICO thread)
• Bank of America (source: MyFICO thread)
• Synchrony (source: MyFICO thread)
• US Bank (source: GLT via comments)

The following issuers do not back date authorized user accounts:

• American Express, as of March 2015 (Doctor of Credit)

I’ll update the above lists as I get more information.  Readers: if you have proof of backdating (or proof against it) for these issuers or others, please let me know!

Source: https://frequentmiler.boardingarea.com/building-and-viewing-teenage-credit/

Sounds like I need to find a friend with an old Chase CC. Anyone that can debunk, verify or give datapoints on the info?

[FinStar]

In addition to the top 5 mentioned above, Citi, Comenity, ELAN (a division of US Bank), USAA, FNBO plus a variety of Credit Unions, such as NFCU and PenFed would have the backdating capability.  

[Anonymous]

OP, your sig shows 4 cards. Of those 4 how many are just yours, and not AU on? It only takes a couple to get started, and keep in mind it will take time to add more as your profile matures. Building credit doesn't happen overnight, and can take a person a few years from scratch.

You also cannot depend on AU accounts, as most banks ignore them. 

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@Anonymous wrote:

Today at the dentist I gave the receptionist my CC and she asked what are they like to bank with. I said I have no idea I only have their CC. She said "you can get a CC from a bank you don't bank with?"

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How old was she, 75? lol

I admit that not everyone is like us here, but that line of thinking sounds very old. Even as a young man in the early 90's I knew you could get a CC without actually banking with a peticular institution.

[Anonymous]

All of the 4 in my sig is mine. 

I also have 4 AU cards (Citi DoubleCash, Capital One Quicksilver, Capital One Platinum, Credit One Platinum->No one warned us about this godforsaken company).

This put me at 5/24, when I called Chase reconsideration line however, they asked if I was paying on these accounts, I said no and the rep took them away and put me at 1/24 and ran my application which then said my average age of credit was too low.

Yes it looks like I will just have to wait, but the reason for wanting the Chase Business Ink Preffered as soon as possible was the 3% cash back on Advertising/ marketing. My business spend ard $5k a month on this, and have been for the last 2 years (from a debit card), so I go to sleep crying over wasted points every single night.

[FinStar]

I would concur on waiting, and as mentioned upthread. The good thing is that Chase can 'exclude' the AU accounts during the internal review process to pass the 5/24 'test'. The downside, once excluded, if the overall history is short and/or scores are below a certain threshold, then the solution is simply just time/aging.

[Anonymous]

If you're set on the Ink Preferred, then you definitely need time and to raise your score to 680-690ish.

It might also benefit you to open a Chase Business Checking account.