Adding Wife to my Amex to raise her Fico

[Anonymous]

May as well TRY

We are talking about no 2nd chance, either it helps or not......with less than a month to closing

and even LESS till CC statement closing date.

We have seen where 1-2 CRA update info, where the other 1-2 catches up the following month (or 2)

so we're in a crapshoot situation no matter what, this is exactly where the rapid-rescore comes into play ( if it's that important)

All else fails assumping this is about a rate vs closing period....you can get in your house, make a few payments address the wife's profile

then refi into a better loan, next year. 

[newhis]

Amex report AUs as new accounts (the last time I checked), so it doesn't matter if your Amex is 2 years old or 30 years old, the AU will be 0 years old. Other credit cards report the same date as the main card, so for AAoA is better not to use Amex and use other cards.

[newhis]

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@Vegas247 wrote:

Gemini101 you are very thorough. Sorry about the lack of info. Her middle Fico right now is 722 but we need to either pad that score or at least keep it there at 722. We close on the house August 8. 2016 inspection has been done and appraisal has been ordered. What do you think would happen to her score. And my Amex cuts on the 12th of every month if that helps to see if she would be added to the 3 bureaus?

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If you need a score boost by August 8, 2016, I think the only way to do that is to pay the current cards, put all at $0 and 1 in less than 9%. Check if any card will report close to the 8th, then you will need to ask for a mid cycle report (once the card is paid).

There are only a few cards that report in less than 1 month, and Amex is not one of them. Good luck.

[Anonymous]

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@newhis wrote:

Amex report AUs as new accounts (the last time I checked), so it doesn't matter if your Amex is 2 years old or 30 years old, the AU will be 0 years old. Other credit cards report the same date as the main card, so for AAoA is better not to use Amex and use other cards.

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I'm AU on two Amex cards, my file matches the original owners dates....I think you may be crossing it with the old backdating rules for if you have an older card, getting a new card to report with that first original opened date for your oldest card.

[newhis]

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@tamaralig wrote:

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@newhis wrote:

Amex report AUs as new accounts (the last time I checked), so it doesn't matter if your Amex is 2 years old or 30 years old, the AU will be 0 years old. Other credit cards report the same date as the main card, so for AAoA is better not to use Amex and use other cards.

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I'm AU on two Amex cards, my file matches the original owners dates....I think you may be crossing it with the old backdating rules for if you have an older card, getting a new card to report with that first original opened date for your oldest card.

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Well that is strange, there are a lot of posts in the forums from people with more knowledge than me saying for a couple of years (or more) that the TL original open date is not shared with AU. If the main cardholder has a card open for some time and then create an AU the AU get a new date. Those posts say they stopped this 'backdating' first, then they removed all 'backdating' in Amex.

Here are a couple:

http://ficoforums.myfico.com/t5/Credit-Cards/Amex-Authorized-User-Policy-reporting-date/m-p/4523590/...

http://ficoforums.myfico.com/t5/Credit-Cards/question-about-amex-au/td-p/4235902

http://ficoforums.myfico.com/t5/Credit-Cards/question-about-amex-au/m-p/4237496#M1205690

How many months/years after the original owner got the cards were you added? Is that in the last few years or more than 3?

[Anonymous]

The above mixed bag of how things go with AU accounts is why it's too tricky to count on in a pinch....

@newhis is basically saying what I said earlier the most direct route is to pay down debt and rapid-rescore

(which is just a fancy term for the  'mid-cycle reporting' @nehis speaks of...same thing) of course that's if you 

have the cash available, you don't want to go applying for stuff, right now.

As I said earlier, if this is only about getting a better rate, you may need to suck it up and plan on the refi.

[newhis]

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@Anonymous wrote:

The above mixed bag of how things go with AU accounts is why it's too tricky to count on in a pinch....

@newhis is basically saying what I said earlier the most direct route is to pay down debt and rapid-rescore

@(which is just a fancy term for the  'mid-cycle reporting' @nehis speaks of...same thing) of course that's if you 

have the cash available, you don't want to go applying for stuff, right now.

As I said earlier, if this is only about getting a better rate, you may need to suck it up and plan on the refi.

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+1

[Anonymous]

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@newhis wrote:

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@tamaralig wrote:

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@newhis wrote:

Amex report AUs as new accounts (the last time I checked), so it doesn't matter if your Amex is 2 years old or 30 years old, the AU will be 0 years old. Other credit cards report the same date as the main card, so for AAoA is better not to use Amex and use other cards.

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I'm AU on two Amex cards, my file matches the original owners dates....I think you may be crossing it with the old backdating rules for if you have an older card, getting a new card to report with that first original opened date for your oldest card.

---

Well that is strange, there are a lot of posts in the forums from people with more knowledge than me saying for a couple of years (or more) that the TL original open date is not shared with AU. If the main cardholder has a card open for some time and then create an AU the AU get a new date. Those posts say they stopped this 'backdating' first, then they removed all 'backdating' in Amex.

Here are a couple:

http://ficoforums.myfico.com/t5/Credit-Cards/Amex-Authorized-User-Policy-reporting-date/m-p/4523590/...

http://ficoforums.myfico.com/t5/Credit-Cards/question-about-amex-au/td-p/4235902

http://ficoforums.myfico.com/t5/Credit-Cards/question-about-amex-au/m-p/4237496#M1205690

How many months/years after the original owner got the cards were you added? Is that in the last few years or more than 3?

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Actually that could be exactly why my dates match the cardholders. I was added during the application process, not after the card was already issued, so that could be a data point to help with what dates report for AU on Amex.

[Anonymous]

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@newhis wrote:

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@Anonymous wrote:

The above mixed bag of how things go with AU accounts is why it's too tricky to count on in a pinch....

@newhis is basically saying what I said earlier the most direct route is to pay down debt and rapid-rescore

@(which is just a fancy term for the  'mid-cycle reporting' @nehis speaks of...same thing) of course that's if you 

have the cash available, you don't want to go applying for stuff, right now.

As I said earlier, if this is only about getting a better rate, you may need to suck it up and plan on the refi.

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+1

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+1 I didn't go on our home loan cause I would have caused some pretty bad rates at the time in fact we might not have got it with my student loans factoring lol. When we did decide to refi, I still wasn't on equal footing score wise which caused higher rates to be quoted.

I agree with don't add her since the outcome isn't guaranteed and may also look like new credit or even change her scores.

[Anonymous]

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Actually that could be exactly why my dates match the cardholders. I was added during the application process, not after the card was already issued, so that could be a data point to help with what dates report for AU on Amex.

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No offense but in a scenario where you were added DURING the app ...what other possible date could there be for you, except for the same as the card holder...as you both started together?

That isn't the typical 'adding' an AU scenario.....most cases it's a parent adding a kid or a loved one adding someone at a later date NOT at the time of applying...just saying.