for the longest time I had only one card a chase freedom since 2005. I now have 5 total cards that have been opened in the last two years and my average age of accounts has plunged.
I asked my parents to add me onto their citi card they have had for 31 years which they did, but it is only showing up on my experian report. I actually have the same name as my dad who is also on the credit card as an authorized user as well. Any ideas of how to get the card to show up on my transunion and equifax reports?
I think they didn't but I had my mom call on the phone and give it to them.
|TCL: $306,100||Utiliz: 6%||AAoA: 5yrs 2m||Other: Lease, Loan, *No Mortgage||Collections-Lates-BK's: 0|
Being an AU probably won't hurt but don't expect it to solve all your problems even if you get them to report. Accounts where one is an AU are not always considered by scoring models and creditors. Definitely focus on building your own tradelines.
And. while you may get a score boost, as long as the AU contributed to that scoring, the score is no longer representative of yur own personal risk assessment.
A prospective creditor, seeing the presence of an AU in your report, will be aware that the score is not based only on your risk assessment, and they cannot back out that account an obtain a score that does not include the AU.
It is best to have a score based only on your own accounts.
I'm not really sure what I can do. I think my account mix is A+ I have a 7 yr history of having mortgages and since I own alot of investment property I have about 950k in RE debt, 80k in student loans.
I've never had a late payment on anything, but with my student loans they kept on switching it around from servicer to servicer so for open account the age is very low. On mortgages it has made business sense to refinance to pull out additional equity or to get lower rates. So even my mortgages aren't that old.
For credit cards I have my card from 05 with a limit of 10k, I also have an amex blue cash with 34k opened 7/15, citi double cash 25k limit opened 7/15 and a farmers card 16k opened 3/16, and a penfed gas card 24k limit opened 3/15.
It's not that I dont have a credit history its just that the average age of my open accounts is so low with the exception of that one card from 2005. My thinking was getting added to that 31yr old tradeline would change that a bit.
I really am only interested in my credit score use for residential mortgages which I believe is below. Does anyone know what these different versions look at and how they treat AU accounts?