It will help some if you keep the uti low and the cards have some age to them.
Sadly though the scores will stay depressed because of the elephants on the reports, the derogs..
You/she might want to post on the rebuilding board for some help taking care of the baddies.
She should consider a secured card or two.. Also could try Cap One or Open Sky for a CC of her own.
You should add her as an au,but the reward will fall in comparison to positive information from her very own credit accounts.She should pay down those old cc;s balances that will have an affect on her overall cc utilization.The best things she can do is to have at least one cc and that auto loan report positive on time payments monthly,keep balances way below 10% on cc's,learn AZEO method before any future credit apps that you should only open as needed.And keep your oldest cc account open.Those lates will fall off her cr seven years from the date they occurred.She will need three cc's one day,but don't rush in.GOOD LUCK
Hello all. Do we know the answers to the following questions?
(1) Does his girlfriend have any open credit cards on her reports?
I believe the answer is no, but I am not certain.
(2) What is the age of her oldest account (closed or open)?
(3) What would be the ages of the account(s) to which the OP is considering adding her as an AU?
We need answers to all three questions before we can assess whether the AU strategy would help.
Thanks for the advice. As a mature adult now, she understands how important it is and I want to help her improve her score.
So she should pay her balance off for both cards? They’re roughly $400 per card.
Yes, though with these qualifications.
If she has open cards....
* She should pay them all to zero, and then start allowing one card to report a small balance.
If she has closed cards with a balance....
* She should look to see which of these might be listed as a "charge-off" or have a corresponding collection on the report. In these cases, she'd want to attempt to negotiate with the owner of the C/O or collection and see whether she can arrange a "pay for delete" agreement. The people in the Rebuilding forum know all about that.
* If the cards have no C/O or collection, then yes simply pay them off.
Finally, the "pay them off" advice should be reconsidered if the delinquencies are so old that they might fall off her reports in the next year or two. Typically this happens at 7 or 7.5 years after the delinquency date.