Preparing for FICO 2008: which CCC's will or won't let AU's convert to joint users?

[haulingthescoreup]

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@wmarat wrote:

DW converted her status on my 3 chase cards from AU to joint , no hard pull.

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Thanks for the info!

[MidnightVoice]

Called Juniper and they will not do it

[Anonymous]

AMEX does not have Joint accounts.  AU's won't be able to convert and in some ways AMEX has the right idea on accounts to prevent unnecessary problems.

[MidnightVoice]

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Samantha_Storm wrote:

AMEX does not have Joint accounts.  AU's won't be able to convert and in some ways AMEX has the right idea on accounts to prevent unnecessary problems.

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To add to my post - Juniper will only agree to joint accounts if asked at the time of application.  They do not object per se, just will not convert

[Anonymous]

I'd have to say BoA is possibly the best company to add a joint person on.  Very smooth transition, easy process.  I highly recommend them for joint users.

[Anonymous]

ohh i can't wait to see what kind of havoc fico08 is going to inleash on our poor unsuspecting souls. Is that sadistic or what??

I thinks its because i am currently not in the market for any new credit product and won't be for another year. I am currently in paying down a bucket load of med bills mode so nothing really interesting going on here until end of this year. Maybe then EQ will have joined the rank and file and the picture will be more accurate. Plus hopefully by then most of everything will have settled down too.

BoA is really easy on joint card stuff. never had any problems trying to share the responsibilty. I think it makes more sense for a credit card issure to allow joint cards. One more person to go after the debt if it turns bad no?

[tgazaway]

The real question to me is this...for someone attempting to convert from an AU status to joint that's not too difficult to do assuming that both borrowers qualify...but I think you lose the "seasoning" of that account once it becomes joint.  A joint account is a new account if I'm not mistaken so it's not a continuation of the older account.  If I'm correct then the "joint" account idea isn't much of a solution...just open a new account and its the same difference - no need for it to be joint.  The bottom line with AU accounts is that most of the value comes from the seasoning or the length of time that account has been open.  Although I do realize that if your utilization %'s are high then the new account can help utilization and perhaps the additional signer on the new account might merit a high credit limit.

Anyone have consistent luck with more than one lender in transferring AU accounts to joint accounts and you DID NOT lose the seasoning on the account???

[haulingthescoreup]

I've never heard of an account becoming joint that got a new start date. Every one that I've seen goes with the original date of the account.

It's entirely possible that some CCC re-ages the account though, which would defeat the purpose for most people.

[tgazaway]

I guess I should explain better.  I have cr cards from all the major banks and many not-so-major banks (BofA, Cap One, Chase, WaMu, Barclays/Juniper, Discover, Wachovia, etc.)  After calling 4 or 5 of them to inquire about making my wife a joint card-holder rather than an AU I was only told that it could be done with 1 of them by keeping the same account with the seasoning attached to it and without basically a whole new application and new credit qualifications.  Several of the lenders said that we could easily apply for a new card jointly but that there technically could not be a continuance of the original account if I wanted it to become joint.  Of course I may have picked the wrong cards and should continue my calls to the other lenders but it appears that the odds are stacked against me if I simply want to make someone a joint card holder on an existing account.

I'll make some more calls and see what happens.  I also see from one of the threads that Discover does allow and Amex does not...I can add to that...Cap One would not allow me and nor would WaMu and Juniper/Barclays.  Discover told me that with the application from AU to joint that the continuation of the account could mean a lower credit limit or obviously that the new borrower may not qualify at all to join me on the account...seems somewhat risky in most circumstances I would think.

It's also important to note that one of those CCC's told me that I could move someone from AU to joint and it wasn't until I probed further that it came out that it would actually become a new account alltogether...again, this would defeat the purpose.