Rental history

[nmorton79]

Goodnight/morning to all....

Just a couple of quick questions for the experts.....

DH is applying for a mortgage...scores are EX 567, EQ 608, and TU 598 as of right now only one trade line which is his auto loan.  Does rental history count as a trade line? And, if he is an AU on a card, does that create a trade line for him?

Any advice is greatly appreciated...thanx.....

[Anonymous]

I see you reached out to experts, one of which I am not, but feel compelled to start you off.

Currently, I still believe AU accounts (one in which you are the AU) count towards someones overall credit profile.

Trade lines can include utility accounts as well.

[DallasLoanGuy]

au counts if he is financially responsible.

rent counts, as well as other alernate trade lines on a manual underwrite

[Anonymous]

The AU should only not count if the lender pulls the new FICO '08 score designed for that bureau. Not all the bureaus have that one up and running I believe, and most lenders are still using older FICO formulas.

Your rental history isn't a tradeline per se, it is not on your credit report, but a lender probably will contact your landlord and get a credit letter of reference, hopefully indicating you paid on time all the time.

Is your DH applying right now or do you have a 6 month+ window before applying? If he can wait, a credit card might boost his score 20+ points in that timeframe.

[DallasLoanGuy]

---

debtisgood wrote:

The AU should only not count if the lender pulls the new FICO '08 score designed for that bureau. Not all the bureaus have that one up and running I believe, and most lenders are still using older FICO formulas.

Your rental history isn't a tradeline per se, it is not on your credit report, but a lender probably will contact your landlord and get a credit letter of reference, hopefully indicating you paid on time all the time.

Is your DH applying right now or do you have a 6 month+ window before applying? If he can wait, a credit card might boost his score 20+ points in that timeframe.

---

it may not count in score.... but CAN BE counted as a trade line.

[nmorton79]

Good afternoon to all...

Thanx for the responses...RealWorld, I read alot of your posting and you are very knowledgable, so your advice is greatly appreciated....we have always paid our rent on time, so that works for us, and our AU(mother in law) is very responsible with her credit...DH is getting the BOA 99/500 card, so that will help as well.....6 mos is our max time frame, so all should work well for us....Thanx again for the helpful advice from all....

[Anonymous]

And with that knowledge comes responsibility.  Your responsibility is to use it to educate and help others. 

[DallasLoanGuy]

---

nmorton79 wrote:

Good afternoon to all...

Thanx for the responses...RealWorld, I read alot of your posting and you are very knowledgable, so your advice is greatly appreciated....we have always paid our rent on time, so that works for us, and our AU(mother in law) is very responsible with her credit...DH is getting the BOA 99/500 card, so that will help as well.....6 mos is our max time frame, so all should work well for us....Thanx again for the helpful advice from all....

---

my bad... i thought you said that the au account was spouses.

you CANNOT use it as a trade line.

[nmorton79]

So...DH being AU on his mothers cc won't work, but if I put him as AU on my cc's that wopuld be ok?  I do have a good history, but oldest cc is just almost 2 yrs old, so I didn't know if it would help.

[DallasLoanGuy]

---

nmorton79 wrote:

So...DH being AU on his mothers cc won't work, but if I put him as AU on my cc's that wopuld be ok?  I do have a good history, but oldest cc is just almost 2 yrs old, so I didn't know if it would help.

---

instead of au, why not add him to the account? that would be better.