How to boost my credit score?

mohammadmoghimi · ‎05-20-2016

I'm planning for a home mortgage. However, my credit history isn't that long. Oldest open card is ~4y and average age is ~2.5y. Everything else looks good and I'm starting a decent paying job. It's actually a pretty good salary depending on how you look at it. So the only way I see to increase my score is to lengthen the history. Is it true if I'm added an an AU on a relative's card I inherit all those years of payment credit history since beginning of their credit line?

My second question is about actually asking my relative to add me/my wife to his account. This is not a credit question and more of a personal one. I'm coming from another country where my relative has immigrated from like 30 years ago and we have a phone call once or twice a year and have met him few times whenever I happen to be in their area. He is very friendly and helpful. Do you think it's normal to ask for a favor like this? Just to add us to his credit line and throw away the cards?

Anonymous · ‎05-20-2016

Looks lilke you're on the right track now. I would keep charging and paying. Amex no longer does date backs on AU's. Not sure if others do? I would first become aquainted with him again. That seems like a big favor to ask. But you know him best. I can say that just doing what's right will most definitely improve you score more than you think.

RonM21 · ‎05-23-2016

I also think you're on the right track. If the AU will help you, then okay. But read up on he threads here about the possible gains and negatives to do doing that.

Total CL: $321.7k

UTL: 2%

AAoA: 7.0yrs

Baddies: 0

Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

takeshi74 · ‎05-23-2016

@mohammadmoghimi wrote:
I'm planning for a home mortgage.

Talk to your loan officer. Don't assume that you can rely on just being an AU toi improve your situation.

dragontears · ‎05-23-2016

@takeshi74 wrote:
@mohammadmoghimi wrote:
I'm planning for a home mortgage.
Talk to your loan officer. Don't assume that you can rely on just being an AU toi improve your situation.

+1

Most the time you have to be removed from all AU accounts (except spousal accounts) when applying for a mortgage, but I am sure there are exceptions

mohammadmoghimi · ‎05-23-2016

Removed? Why?

Anonymous · ‎05-23-2016

They usually want none spousal AU accounts removed because they impact YOUR real score. Mortgage lenders want to see your scores, not ones manufactured by someone else's credit. You and your spouse need to get approved based on your credit worthiness alone.

I would not go the AU route. I would work on things in your profile to raise your scores.