@lexrjSD wrote:
I've added an AU on my BCP only to help out a friends credit, the card is going to stay with me and it won't be used at all.
I just got the card, my question is do I need to activate the card in order to keep reporting on the AU's CR?
^^^^
Yes, you need to activate it for the credit card company to recognize it. For the credit card co. to update transactions on your friend's credit report for that card you should charge on it from time to time and pay it off.
I have AU's on my Amex platinum for two family members, I know on their credit reports my card for which they are an AU shows up and so does the activity. I pay all the bills for the primary card and trust them not to go wild on their AU cards; bottom line whatever they charge I am responsible for paynig it off and it'll affect my credit report. So if your friend ever convinces you to let him/her use the AU card, know you are responsible for paying it off and it'll affect your credit report.
-----
youdontkillmoney Stats:
Degrees in economics (B.A. and M.A.), and MBA
Occupation: Financial Manager (full time) and adjunct college professor of economics & statistics
Credit experience since 1991: Got my first credit card at 18 and for the past 23 years I've NEVER been late or missed any kind payment
FICO (as of 04/04/2014): Experian: 798, Transunion: 786, Equifax: 783
"Gardening" since 04/03/2014 and for the foreseeable future.
Total 17 credit cards: $210,110:
AMEX Platinum ($85,000 with $450 annual fee plus an extra $175 for up to three additional member cards for $625 total each year); Barclay's Black Card Stainless Steel Visa card ($10,000 with $495 annual fee and the last time I used this card the reaction is "wow, your card is heavy" and I just smile); Diners Club Carte Blanche ($15,000 with $300 annual fee); AMEX Business Platinum ($3,000); Bank of America Visa Signature ($5,000); Capital One ($2,000); Citibank MasterCard ($13,000); Discover ($3,000); Capital One Quicksilver (formerly HSBC) $20,000; JCB Card ($3,000); Juniper MasterCard ($5,000); Merrill Lynch Visa Signature ($5,000); US Bank Visa ($3,500); Wells Fargo Visa ($9,000); Credit Union Visa ($7,500); Chase Freedom Visa ($8,000); Citi Diamond Preferred ($13,200)
Total 4 Lines of Credit: $45,200
Wells Fargo Line of Credit: $11,200 ($25 annual fee with 13.75% APR)
Credit Union: $20,000 ($0 annual fee with 15% APR)
US Bank Premiere Plus Line of Credit: $5,000 ($0 annual fee with 13% APR)
Citibank Custom Line of Credit: $9,000 ($50 annual fee waived first year, and if used once a year, annual fee waived with 12.99% APR)
