@Anonymous wrote:
@CreditInspired
I would think it's safe to assume that pensions or SS would be considered income. It counts as income for a morgatge after all. I thought the same when someone said 80+ with no income. Not sure how SS would work, or having a pension from a foreign country would apply though.
That’s why I went the route of no income and talked about assets. Not a clue how a foreign countries pension or equivalents would work.
On a side note: it’s supposed to be for authorized users only at chase. You may have gotten lucky and it worked but it’s supposed to be for AU’s that live in the same household as you for points pooling.
Chase is is irreverent to this topic though as there’s no way chase would approve OP’s mother for quite a while with no credit history. That’s at least 2 years down the road
@Anonymous wrote:Are you sure? Because Chase only says points can be transfered to "family member", nowhere in the agreement does it say that family member has to be an AU on one of your cards.
If you have some links, I will look into it, don't want to keep breaking rules if I am wrong, lol.
So for external transfers to a Loyality program it must it must be an AU which lives with you. It’s limited to ONE person.
For Internal transfers. You don’t need to be an AU but they must be a member of your household and hold their own UR earning credit card.
My mum has a green card with a French retirement. There is an agreement between France and USA so if she declares her retirement to the French IRS, the American IRS cannot tax her retirement. She lives with me. While she's an additional user with Amex Gold Delta, the earned miles will be transferred to my Delta account. She doesn't mind that. But when she will get a credit score, she will want to have her own travel credit card. In that case, with Amex Delta, how does it work? Can she apply to her own card while being an additional user?
@villemiami wrote:My mum has a green card with a French retirement. There is an agreement between France and USA so if she declares her retirement to the French IRS, the American IRS cannot tax her retirement. She lives with me. While she's an additional user with Amex Gold Delta, the earned miles will be transferred to my Delta account. She doesn't mind that. But when she will get a credit score, she will want to have her own travel credit card. In that case, with Amex Delta, how does it work? Can she apply to her own card while being an additional user?
She can have her own card while still being an AU on the same type of account.
Amex isn’t going to just suddenly approve her because she got a FICO score. It’s much more complicated then that.
She will need a way to build US based credit history. Hence the secured card suggestion.
Is the secured card a better way to build credit history than being an additional user on Citi Costco and on Amex Delta?
@villemiami wrote:Is the secured card a better way to build credit history than being an additional user on Citi Costco and on Amex Delta?
Absolutely!
AU accounts are just that, authorized users. They aren’t responsible for the account in any sort of way and because of that most banks tend to ignore them during manual reviews.
Starting out with a secured credit card will help establish primary credit history and show payment history which that person is responsible for.
As mentioned, with the right secured card it will graduate and grow. Discover is a very good option as it gives decent rewards, has no AF, graduates into unsecured and will grow over time.
You can get approved based on AU history alone sometimes. The lenders that would be willing to approve that situation are more along the lines of Discover or Capital 1.
If she wants an Amex or other top tier travel cards, they require your own tradelines reporting positive history somewhere between 6 months - 1.5 years. I would guess around a year given this situation.