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Is AU really ALL THAT or just hype?

Frequent Contributor

Is AU really ALL THAT or just hype?

Hi, EVERYONE! 😊

Ok, so DW was approved for Cap One Platinum $300 SL. It’s good news, since she’s never had a cc, just installment loans(all in good standing). So, during the approval I didn’t add myself as an AU until the approval process was over lol didn’t wanna jinx it! Lol
Anyway, we went in and added me as an AU, today. Since I, myself do not have any open accounts at this time. I PIF my only cc I had that was charged off. With that being paid, of course, my Utilization went down to 0%. Is being an AU on her newly opened unsecured cc give me some positive reflection, assuming paid on time, or it wouldn’t have much weight? Is it just ALL HYPE? Or does AU give you the same as the holder? I know I keep hearing that being an AU is being etched out or is that false? I know that DW’s actions will reflect on my cr. So, would it REALLY HELP me some being an AU?? Would it help to get approved later down the road? Will I be on Cap One’s Radar in the future?
I plan on getting a secured cc and a self lender. With scores like mine(siggy) I still have much work to do but, will the AU help me at all, if any? Would I see any score improvement at all?

Thanks!👍
😊
Starting Score: EQ 491
Stating Scores 02/13/2018
TU 483 EX 543 EQ 491
Current Score:
EQ 563
Goal Score: 600 (for now)


Take the myFICO Fitness Challenge

Score: 06/16/2018 TU 556 +34
Score: 06/16/2018 EX 546 +0
Score: 06/16/2018 EQ 563 +52
In the Garden until 11/2018

GREAT PLACE! GREAT PEOPLE! GREAT ADVICE!

Message 1 of 4
3 REPLIES
New Contributor

Re: Is AU really ALL THAT or just hype?

Wondering the same! I added my DF and DD as AU today on my CO QS1. 

Rebuilding in March 2018
TU: 590 EQ: 594 as of 3/18
CO QS1 300 SL
Message 2 of 4
Community Leader
Legendary Contributor

Re: Is AU really ALL THAT or just hype?

Adding an AU that helps your scoring is not a free lunch.

It automatically means that your score is no longer representative of only of your own history.

 

Creditors know and understand that a score based in part on inclusion of the credit history of another is not representative of your own risk analysis.  If they do a manual review, which is common with higher amounts of credit, and see the presence of an AU, they may choose to discount the value of your score in their evaluation.  Some lendors may even require removal of any AUs as part of their standard underwriting process, enabling them to then obtain a "real" score.

 

If building or rebuilding and only applying for low amounts of credit, the creditor may not invest the time and expense in doing a complete manual review, and thus the presence of an AU may not be an issue.

However, as you move up the credit chain, presence of an AU may raise concerns by the creditor.

Message 3 of 4
Frequent Contributor

Re: Is AU really ALL THAT or just hype?

Thanks, RobertEG!👍

It’ll only be used for the rebuilding part. As of now, I don’t have ANY open accounts reporting at all! I’ve got a few baddies holding my score down but, I’m tackling them as I move forward. I figured that since no matter what secured card I app for? Why not start with being an AU on a FRESH NEWLY opened unsecured cc? Rebuild a little recognition, put me on the map and add some age from that account, add two secured cards and let all three do there magic(AZEO) for 6 months or so(?) then, app for another cc, hopefully by then, unsecured(?) and then drop the AU completely. Get a Self Lender During all of this, while still attacking my baddies. I don’t plan on relying on the AU card for long. Just long enough to create some activity as I app for the
1-3 cards I’ll need, as well as the self lender loan.

Thanks! Definitely, put it in a better perspective.👍
😊
Starting Score: EQ 491
Stating Scores 02/13/2018
TU 483 EX 543 EQ 491
Current Score:
EQ 563
Goal Score: 600 (for now)


Take the myFICO Fitness Challenge

Score: 06/16/2018 TU 556 +34
Score: 06/16/2018 EX 546 +0
Score: 06/16/2018 EQ 563 +52
In the Garden until 11/2018

GREAT PLACE! GREAT PEOPLE! GREAT ADVICE!

Message 4 of 4