Being added as a joint account holder

JBjunior · ‎03-24-2011

Hopefully someone can tell me if this is worth it. My credit is fine and the only thing that is hurting me is AAoA. My mother has a Target card that has a perfect history back to 2001. She has a balance now that she would pay off before I was added and then she would not use the card anymore. It has a $400 dollar limit but will have a $0 balance. Target doesn't report AUs only joint account holders. I "think" they will have to do a hard inquiry but I think the 10 year history would benefit more than the ding from the inquiry. I plan on buying a car in April or May and was wondering if the increase in AAoA would be beneficial?

DI · ‎03-24-2011

Yes, it would be worth the inquiry. But how long will it take for Target to report the account to the CRAs? Where did you get your ifnormation from about Target only reporting Joint users to the CRAs? You're right, they do not report AUs despite asking for SSN and etc.

JBjunior · ‎03-24-2011

I had my mother call yesterday to check on adding me as an AU after we checked her report and saw the 2001 date with perfect history. They stated that AUs aren't reported since they aren't responsible for the account but that I could be added as a joint account holder but couldn't be removed without closing the account. Since neither of us will be using the card I don't consider that a problem. The statement closing date will be in the middle of April so if I can expedite returning of the form I should be good.

DI · ‎03-24-2011

@JBjunior wrote:
I had my mother call yesterday to check on adding me as an AU after we checked her report and saw the 2001 date with perfect history. They stated that AUs aren't reported since they aren't responsible for the account but that I could be added as a joint account holder but couldn't be removed without closing the account. Since neither of us will be using the card I don't consider that a problem. The statement closing date will be in the middle of April so if I can expedite returning of the form I should be good.

Yes do it! The inquiry is worth it. And with only $400 CL you'd have no worries.