AU on Grandma's 1986 Discover More card And 1995 Roamans!

[Anonymous514]

So Grams added me as an AU on her Discover More card she has had since 1986! Her statement already has updated so I am hoping to see the "New Account" hit my reports soon. Oh also she added me as an AU on her 1995 Roamans Platinum Card! THANK YOU GRAMS!

[Strogen]

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@bigalkescott514 wrote:

So Grams added me as an AU on her Discover More card she has had since 1986! Her statement already has updated so I am hoping to see the "New Account" hit my reports soon. Oh also she added me as an AU on her 1995 Roamans Platinum Card! THANK YOU GRAMS!

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You do realize that age is irrelevant now that amex stopped backdating right? I assume you had her add you because you though they would backdate you on those cards? 

If I added you on my Discover from 2014 itd be the same as her adding you.

[jeffm4688]

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@Strogen wrote:

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@bigalkescott514 wrote:

So Grams added me as an AU on her Discover More card she has had since 1986! Her statement already has updated so I am hoping to see the "New Account" hit my reports soon. Oh also she added me as an AU on her 1995 Roamans Platinum Card! THANK YOU GRAMS!

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You do realize that age is irrelevant now that amex stopped backdating right? I assume you had her add you because you though they would backdate you on those cards? 

If I added you on my Discover from 2014 itd be the same as her adding you.

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Not sure what amex has to do with this, but these accounts should increase AAoA based on my experience. I'm guessing by a lot.

[RonM21]

I think the AAoA should increase also. It should at least help you a bit.

[RobertEG]

..... at the expense of no longer having a score that is an evaluation of your own personal history.

[Anonymous514]

You realize there are countless people out there on their parents cards? Grams is helping me strenghthen my credit for a mortgage I am going to get next year so these old accounts are going to help offset the new accounts I have opened. 

[RobertEG]

It may strengthen your score, but it may not necessarily strengthen your ability to obtain credit.

Lenders understand that AU accounts do not represent your own history, and thus assessment of your credit risk.

They can choose to disregard them in their determinations.

Credit scores are not the begin and end all.

They certainly are of substantial rebuilding benefit when applying for lower levels of credit, where lendors dont do an extensive manual review.

However, as you move up the food chain, more scrutiny could result in issues when you have an AU included in your credit score.

[Anonymous]

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@bigalkescott514 wrote:

You realize there are countless people out there on their parents cards? Grams is helping me strenghthen my credit for a mortgage I am going to get next year so these old accounts are going to help offset the new accounts I have opened. 

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You might want to head on over to the mortgage forum and research AU accounts over there.  From what I have read and learned on that forum, if the AU is not your spose, most lenders will want the AU account removed because it is not a indicator of YOUR creditworthiness.  Your best bet if you are going for a mortgage is to pull your reports and see where your mortgage scores are without the AU and talk to a lender to see what you can improve upon in order to raise your own scores.

[Anonymous514]

My credit scores are good as they are right now. Mid 740s but with Grams help it will offset my AAOA which is the only thing bringing my scores from their true potential.

[RobertEG]

The point is that some lendors will not consider a score that is influenced by the history of another as being YOUR score.

The advice being offered is to consider how a prospective lendor will view a score that they know is not based on your own history.

If they are not investing in a manual review, they wont know it.

However, if they are taking the time ot do a manual review, they are likely evaluating in more depth, and may wish to see a score that is representative of only your own risk analysis.