Authorized Card question

[Anonymous]

@gdale6 their credit is at risk as long as she is an AU on the card. Thats why her scored dropped

[scorewatcher7]

If you look at your report, you should be able to see balance increases on your AU card; if the score dropped at the same time your mom maxed out the card, it most likely is a big contributor to the score drop. Also, applying to Discover and Cap1 will also drop your score from the inquiries- maybe up to 10 points total. 

If Discover is your only card right now and you have a $500 CL and a maxed out AU card, I would hold off from applying until your mom pays down some of that card.  Your file is thin (unless you have a bunch of other credit accounts, and utilization is most likely very high and Chase and Citi may not want to extend credit, even with your scores in the mid 700's- just my opinion, though.  However, I would go with Chase Freedom if you need to apply. I like Citi but have no experience with the new DC card.  Good luck!

[zerbherb]

Thanks everyone. So i will just keep the autherized card in my wallet and not use it for a while. Yeah my utilization is at 55 % because of the lake land card.

[NRB525]

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@zerbherb wrote:

So i just got my first credit card, discover it chrome 500 cl, i also applied to cap one journey and was denied because of  insuffiecent income

Anyhow my mom maxed out a card i am on autherized on, and my credit score dropped 19 points, 744 to 726. How is that for a starting off credit score, it sucks it dropped when it isn't even my fault. Would it have been because my mom maxed out the card?

Also I am looking into a second card, leaning towards citi double cash or chase freedom your thougts?

thanks

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OP, Your good mid-700's score is most likely relying on that AU account. It does not matter if DM maxes the card out, you are still benefiting from the long payment history.

If you only just got the Discover card, you won't have a whole lot else to contribute to your own credit score. No telling where it will jump to if you drop the AU.

I would not worry about how DM manages her credit cards. She has seemed to do well so far, indicated by the good score you are inheriting from this AU relationship. You can't do any better on your own, so just leave the AU as is until you get at least a year of your own cards (that's multiple cards) with good standing. Even then, there's probably no rush to get off the AU status.

[takeshi74]

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@zerbherb wrote:

Would it have been because my mom maxed out the card?

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If the scoring model factors in accounts where you're an AU then yes.  The accounts where you're an AU factor in just like any other tradeline in such cases.

However, keep in mind that there are scoring models and creditors that disregard accounts where you're an AU.

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@zerbherb wrote:

Also how much do you guys trust credit karma. They recommend i apply for the card i wanted anyhow with a good chance of acceptence,

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CK makes money off of referrals.  Their scores are FAKO's.  CK's handy for monitoring your credit and that's really about it.

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@zerbherb wrote:

Starting Score 744

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Keep in mind that you don't have just one score. The scoring model and the CRA used as a data source to generate the score matter.

[zerbherb]

Well i trusted them, wtvr its 5-10 point. I see zero money problems ahead. screw credit karma.

i mean i already got discover to confirm they will raise my credit limit to 4500 when the new retina pro comes out, i geuss you can call that a sign they trust me already. Or just the fact i have 12 grand in my savings from bonds and my bar mitzvah.

So guys list releastic second card and third card options please. 

[scorewatcher7]

I'm just going to answer your score question: Its not a bad starting score at all.  As for ability to obtain Prime cards, most likely your thin file is affecting that. 

[zerbherb]

 i just got a letter from discover today to upgrade to the full it card. I talked them online and they said to wait a month but you have been doing well the transfer will go through.

[kdong1996]

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@zerbherb wrote:

Well i trusted them, wtvr its 5-10 point. I see zero money problems ahead. screw credit karma.

i mean i already got discover to confirm they will raise my credit limit to 4500 when the new retina pro comes out, i geuss you can call that a sign they trust me already. Or just the fact i have 12 grand in my savings from bonds and my bar mitzvah.

So guys list releastic second card and third card options please. 

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Chase maybe. I was approved with only 1 AU card on file. I actually started out with really really similar scores and circumstances as you.

[gdale6]

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@Anonymous wrote:

@gdale6 their credit is at risk as long as she is an AU on the card. Thats why her scored dropped

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No, an AU is never legally responsible for the payments, what you are talking about is if its scored as a risk and that is true as long as one is an AU it can and will affect your score.