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Good afternoon everyone,
My sister offered to add me onto her old, high limit credit cards to improve my credit history. She does not want to activate and send the card to me as it can get complicated. Will I still get the benefits from being an authorized user without using/spending the cards at all?
Thank you for reading
no as long as the card is activated you dont need to use it you will gain the account history
Love the swift reponses on this forum <3
I'm being added on AMex and Cap One but I live in a different state. AFAIK both cards required SSN when adding AU
@Anonymous wrote:Love the swift reponses on this forum <3
I'm being added on AMex and Cap One but I live in a different state. AFAIK both cards required SSN when adding AU
Then you should be fine because they'll use the SSN to match the card to your profile.
Another thing to take into account with Amex is that they don't backdate, so you'll get a fresh card on your report. That could actually affect you depending on your credit file. Also, what type of AMEX? is it a revolver or charge card? If you're looking to help with utilization, a charge card won't help in addition to lowering your AAoA. I hope it's a revolver at least.
Mind sharing what else is in your credit profile, scores, age of accounts, limits, UTIL, etc., that you felt the need to add a couple of cards to it?
I did not know anything about what you've just said. I bet my sister didn't either :/
The AMex card is Blue Cash Everyday & The Cap One is Visa signature.
My credit score is 721. I opened my first CC in September last year. It was a Discover it for student with 1500 CL
Where can I find the list of CC that backdate and will help AUs raise their history? Thank you again
@Anonymous wrote:I did not know anything about what you've just said. I bet my sister didn't either :/
The AMex card is Blue Cash Everyday & The Cap One is Visa signature.
My credit score is 721. I opened my first CC in September last year. It was a Discover it for student with 1500 CL
Where can I find the list of CC that backdate and will help AUs raise their history? Thank you again
That's ok. We all start somewhere. I wish I'd been more involved when I started building credit over 20 yrs ago.
Anyway, I don't have a list of cards that backdate, but as far as I know, AMEX may be the only lender that doesn't. Good thing is, you got added to a revolver, so the credit line your sister has will help with utilization as long as she knows how to handle it. If she's running up her CL, that'll also reflect on your reports -- needless to say, any missed or late payments, etc. The Cap One card will come up with the original open date, so you're good with that. Same applies as to the usage of the card by your sister. Sometimes, people have the best intentions to help, but "help" may not be the right word in the end, so stay on top of your reports. Do you happen to know the limits or how old the cards are? If not, it'll show on your reports eventually.
Once you start getting more cards, and as they age and grow, you should probably remove yourself from those AU accounts, and have more control over your own profile. That's just my opinion.
For now, since you only have 1 tradeline (Discover), it's a good thing you added a couple more to maximize your scores. They say you need at least 3. Soon enough, you should have no problems getting the cards you want.
Thank you. She told me those two cards are more than 5 years old and have $10-15K CL. She does not use those cards regularly anymore, only once every 3 months to keep them active. She mostly use her Sapphire Reserve for all expenses
@Anonymous wrote:Thank you. She told me those two cards are more than 5 years old and have $10-15K CL. She does not use those cards regularly anymore, only once every 3 months to keep them active. She mostly use her Sapphire Reserve for all expenses
Sounds good then. Remember that you'll inherit the account history & age of the Cap One card but not the Amex. The Amex card will show as a brand new account -- as if you'd just got approved for a new card. In your situation, it's not a bad thing to add another $20+ K to your available credit and 2 more tradelines.
ETA: I forgot to mention that if your sister isn't using either card, you should let balances report on your Discover card. Having 3 cards with 0 balances will do you no good either.