A family member has generously offered to add me as an AU to one of their 20+ year old credit card accounts.
I am relatively new to credit. Two cards at 4 months and 1 month respectively. I do not want many credit cards and I have two excellent cash back cards right now.
So this considerable boost to my AAoA will allow me to do what now? The CF and CSP are my goal cards. Will I qualify for them due to this, in 4 to 5 months? I figure I should wait at least that after just opening my BoA 321.
Also, with my existing cards, will it increase my ability to get larger CLI? I am unsure as to the benefits of applying with such a boost to my score.
What card were you added to? If it was a Chase you should be good for at least the Freedom in just a few months. Scores might help with CLI but Cap One seems to be pretty well set in what they are going to give you beforehand.
I won't know until I go over for dinner next week what the details are about the card. That's when we're going to add me. I had to cut the conversation short and go back into work.
What would the drawback be of doing this? I am willing to reconsider and build on my own, but you seem to be implying there may be some adverse effects? She has a credit rating of over 800+ and is very financialy secure, so I am not worried about her credit hurting mine.