joint cardmember

[Anonymous]

I am being added to a Discover card as a Joint Cardmember and wanted to know about how much of a jump I can expect on my credit scores. the card has a TL starting in 1987 and is in excellent standing and always has been.

Thanks

[SmartCookie]

No way to know for certain but I would venture to say a decent one proportionally.  Especially if there is a nice CL on it.

[MidnightVoice]

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carriewink wrote:

I am being added to a Discover card as a Joint Cardmember and wanted to know about how much of a jump I can expect on my credit scores. the card has a TL starting in 1987 and is in excellent standing and always has been.

Thanks

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That depends very much on what your scores are now, how much your utilization changes, and how much it affects your average age of account.  For example, some posters have 42 CCs, so adding one 20 year old card will only improve their average by less than 6 months. 

It also depends on the utilization of the discover card - some here have reported being added to cards that have a high util has reduced their scores.

[Anonymous]

my scores right now are low and in rebuilding stage currently the FAKO' s I have as of today are

EX 523  EQ 514  TU 512

But I have gotten a total of 19 bad accounts off my report in the last 2 months and have 24 more to go

the card has a $0 balance on it and is rarely used(only at christmas) it also has a 40k limit on it

I currently have 4 cc they are

Orchard Bank $300.00 Limit   Bal is 225.00

First Premier 1 250.00 Limit  Bal is 227.00

First Premier 2 250.00 Limit  Bal is 240.00

Credit One   200.00 Limit and Bal is 150.00

*working on getting these to $0 withen the month

Thanks again really would like to know how much of a bump I can expect.

Message Edited by carriewink on 11-02-2007 11:33 AM

[MidnightVoice]

Well, the bad news is that as you seem to have about 30 accounts it will not do much for average age.

The good news is that it will reduce your util to practically zero, which I assume will be very good, but with all those derogs it might not be a huge jump.

Did Discover do a hard pull on you when you applied to become joint?  Is your Joint status definite?

[Creditaddict]

What I could do with 40K LIMIT!!! HOT

[haulingthescoreup]

carriewink, I was added to DH's 1987 Discover card as an AU. As they are still (maybe) counting AU's the same as joint, maybe this will help: my FICO's went up and average of 18 points, as I went from 12 years oldest/ 3 years average to 18 years oldest/ 4 years average. It increased my total CL $14K, but there was util on it, and I already had a pretty decent total CL on my own, so that might be a wash.

One thing to watch out for: the increase in total age of my credit history is apparently what reassigned me to a new credit bucket (scorepool, etc.) As I am now being compared to others with pretty long credit history, my scores have dropped, because lates are "not done" in my new peer group. I hope this doesn't happen with you, but if it does, grit your teeth and keep going, because it will eventually allow your scores to go higher than they would have otherwise.

[haulingthescoreup]

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@MidnightVoice wrote:
Did Discover do a hard pull on you when you applied to become joint? Is your Joint status definite?

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And I would add, do you have any idea what your FICO's are? I want to go ahead and switch my AU to joint, but I'm afraid that my scores are still way too low, and I don't want to waste the inq. I can't find any answers as to whether they go easier on joint applicants.

[MidnightVoice]

Both Chase and my local Store pulled a hard to go joint

[haulingthescoreup]

MV, were your DW's scores about the same as yours when she went joint on the cards? I'm really dragging my feet on converting, because I don't want to waste an inq. I would like to have everything above 700 anyway, although that would probably put EQ at 235 or something. DH is 709 - 701- 779, I think. (There's a bogus CA on two reports that we don't want to mess with for now.)