Help me understand long term advantages

[tithelady]

Experian 739

Equifax 739

TU 713

no late pays

utilization right now too high at 48% had been at less than 10% but life happens. 

working it down
amazon chase 19 k cl

credit 1. 1050 cl

no other cc. 
100% pay on time 4 years

1 hard inquiry in 24 

added as au on Barclays with cl 11,300

Will this really help me utilization and credit score ? Timeframe?

I have noooo intention of using it. 

Striving for 750 + and the 800 !!!!

ty. This site is awesome. 

[JoeRockhead]

Being the AU account is going to do very little to nothing for many of your Fico scores, the fastest way to gain points is going to be by reducing your reported utilization on any individual accounts to under 29%, and under 9% aggregate on your own accounts.

Long term it's important to establish and build positve history of your own accounts.

[tithelady]

Ty for that info. 

[Kforce]

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@JoeRockhead wrote:

Being the AU account is going to do very little to nothing for many of your Fico scores, the fastest way to gain points is going to be by reducing your reported utilization on any individual accounts to under 29%, and under 9% aggregate on your own accounts.

Long term it's important to establish and build positve history of your own accounts.

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^^^^ This

[Windchill92]

It's probably more of a small feather in your cap type situation. Not going to tremendously improve your credit profile/score, but it IS still there aging with the rest.

My first revolving credit account was an AU one several years before I had an individual one, and has kept my Average Age of Accounts (AAoA) up.

But like @JoeRockhead said, stay the course.

[KatzNDawgs]

AU accounts have limited use. The most benefit I found was with my minor children to have them gain some sort of "history" and score before 18 years so once of age, so they could get halfway decent cards. Once they got their personal 3 cards and SSL loan, the AU account was pretty much redundant.