Good evening,
I've done all the cleaning of my reports that I can do, opened a few secured cards and have been able to get a few unsecureds as well, the problem I have is my limits are a joke, my largest card is $1k and that is secured Wells Fargo card, the question I have is, if I am added as an AU to a family memeber card who has a large limit, will that help me it gaining larger limits later as I continue to build my portfolio?
Starting Score: 477
I think the biggest thing here is just patience and time to let your credit report, thus your score to evolve and continue to get better which improves how you look to lenders making them more likely to loosen the purse strings. Unless it’s a lender like capital one who likes to issue rebuild cards that can prove exponentially difficult to grow (I’ve got one of those) then you’re better off sometimes opening up new account with them to get into the larger limit pearly gates.
Being added as an AU may help you out but I think the biggest thing for us rebuilders is patience and time, which can understandably be difficult at times.
Being added as an AU may help you out but I think the biggest thing for us rebuilders is patience and time, which can understandably be difficult at times.
That's the exact reason I am posting and asking the question, because I have been very patient and it has got me nowhere. I'm almost 36mos in with these rebuilder cards, have only been able to get a cli on 1 card which was my Cap1 QS.
I should get a decent bump from being added as an AU to the Amex as it will bring my utl down to about 25%.
Hard to say at the moment a lot of things haven't updated yet but I'm guessing over 60%
Often times having high itilization will hold back a profile no matter how good ones credit is. Remember payment history and amount of debt are 2 of the biggest score factors