Joint cards vs AU

[Nelsoul]

 As I'm starting to understand this credit stuff , haven't found the answer too - from a credit scoring standpoint, 

what's the difference between a Joint CC and AU ?

How does UW look at it?

My GF and I have a joint PNC 19K CL that was opened in June 2019

I was also added as a AU for 10K Capital one.

July I got a secured BOA $300 (probably should have skipped that but am trying to build fast)

September -CAP-PLAT $750 ( just upgraded to quiksilver)

January -AMEX BCE 1000

As I'm working my way up the ladder how does that PNC help( other then DTI) or even hurt me ? 

AAoA is 11 months,take away the AU its 7 months and I already have 30K in unsecured debt.

Of course I didn't expect CAP or AMEX to give me a SL even close to that but isn't that what banks want when you apply for new cards , to be the first out your pocket.

Next month I'm going for a NFCU then I'm done for the year.

[Anonymous]

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@Nelsoul wrote:

 As I'm starting to understand this credit stuff , haven't found the answer too - from a credit scoring standpoint, 

what's the difference between a Joint CC and AU ?

How does UW look at it?

My GF and I have a joint PNC 19K CL that was opened in June 2019

I was also added as a AU for 10K Capital one.

July I got a secured BOA $300 (probably should have skipped that but am trying to build fast)

September -CAP-PLAT $750 ( just upgraded to quiksilver)

January -AMEX BCE 1000

As I'm working my way up the ladder how does that PNC help( other then DTI) or even hurt me ? 

AAoA is 11 months,take away the AU its 7 months and I already have 30K in unsecured debt.

Of course I didn't expect CAP or AMEX to give me a SL even close to that but isn't that what banks want when you apply for new cards , to be the first out your pocket.

Next month I'm going for a NFCU then I'm done for the year.

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@Nelsoul OK an authorized user account always counts on the mortgage scores, but it may or may not count on versions 8/9/10. A joint account will always fully count on every version because you are financially liable for it, whereas you're not when you're an authorized user.

The fact that you have four primary accounts and you plan to get one more sounds perfect to me. Five cards and one loan is perfect, but then you need to stop for years and let them age, imho. 

[Anonymous]

One more thing, when potential lenders manually review your credit report, some may discount authorized user accounts or give less weight to the score because they think it’s artificially inflated. Then again, some don’t care.

[Anonymous]

Sorry to keep posting separate posts, but I also wanted to answer your question about the PNC and how it affects you.

First it doesn’t affect DTI, that’s debt to income, unless it has a balance and then it works against you. however on the mortgage Scores it gives you cushion and utilization padding and may on 8/9/10, if it’s not discounted by the anti-abuse portion of the algorithm

[Nelsoul]

NP thank you for the input.

I meant UTI not DTI .

Yes after the Navy I'm done with CCs so they can age & grow. I just got approved for the Amex 2 weeks ago , it hasn't hit my credit yet . Would it be better to apply for NFCU before it does ?  February 11 will be 3 months as a member and Amex hits on the 8th.

[Anonymous]

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@Nelsoul wrote:

NP thank you for the input.

I meant UTI not DTI .

Yes after the Navy I'm done with CCs so they can age & grow. I just got approved for the Amex 2 weeks ago , it hasn't hit my credit yet . Would it be better to apply for NFCU before it does ?  February 11 will be 3 months as a member and Amex hits on the 8th.

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@Nelsoul it will help utilization on the utilization on the mortgage Scores and it may help on 8/9/10 if it's not caught by the anti-abuse portion of the algorithm.

well navy isn't really especially new account sensitive, but it would really it would depend on the rest to your profile.

Can you list when you opened the cards you have? And do you have any open or closed loans? What are your current scores? I'm assuming you have perfect payment history and your utilization is check? 

[Nelsoul]

CAP1 AU 11/17 $730/10K

PNC joint 6/20- $0/$19K

BOA secured 7/20 - $0/$300

CAP1 9/20 - $287/$750

NFCU SSL 11/20 - $240/$3001

Amex 1/20 $0/$1000 - still hasn't hit report-closing Feb 5th ( is that when it will first report ?)

Think I was doing the AZEO correct at the beginning on the month , but I forgot to pay off the $287 - still made $300 payment on due date. Next closing feb 2ed.

$730 balance will report on the 23ed @ $400

TU 761 5 HP - 2 scoreable ( my mom ran Verizon 1/20 not sure where a Citi & Amazon HP came from 5/19)

EQ 748 4HP - 3 scoreable 

EX 762 3HP - Amex HP 1/7/20

Amex Vantage 740

Amex FICO 760

Did a prequlify for DISCO PL last night said FICO 760

AAoA 11 months- 4% UTI

10 weeks NFCU member W/ DD only $530 per week but total income I will state is $62,000

As I'm reading this no way I cant get in the door, even with a $500-$1000 SL, then let them grow. I've seen worse on here get approved. 

[Anonymous]

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@Nelsoul wrote:

CAP1 AU 11/17 $730/10K

PNC joint 6/20- $0/$19K

BOA secured 7/20 - $0/$300

CAP1 9/20 - $287/$750

NFCU SSL 11/20 - $240/$3001

Amex 1/20 $0/$1000 - still hasn't hit report-closing Feb 5th ( is that when it will first report ?)

Think I was doing the AZEO correct at the beginning on the month , but I forgot to pay off the $287 - still made $300 payment on due date. Next closing feb 2ed.

$730 balance will report on the 23ed @ $400

TU 761 5 HP - 2 scoreable ( my mom ran Verizon 1/20 not sure where a Citi & Amazon HP came from 5/19)

EQ 748 4HP - 3 scoreable 

EX 762 3HP - Amex HP 1/7/20

Amex Vantage 740

Amex FICO 760

Did a prequlify for DISCO PL last night said FICO 760

AAoA 11 months- 4% UTI

10 weeks NFCU member W/ DD only $530 per week but total income I will state is $62,000

As I'm reading this no way I cant get in the door, even with a $500-$1000 SL, then let them grow. I've seen worse on here get approved. 

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@Nelsoul hey sorry for the delay, but yeah I think you'll definitely get in the door. American Express takes 2 to 3 months to report typically. So if you go ahead and apply they won't even see that account yet and you should go ahead and fight those inquiries that are not legitimate.

[Anonymous]

If it weren’t Navy, i’d be more worried because of the new accounts. And considering environment, anything could still happen with Navy. But it’s just one hard inquiry and if you do get it, like you said, it will grow. I think you did limit yourself with that BoA though.

[Nelsoul]

I want to get those HP's off but I have to get police reports and go through a mission for TU and EQ..

unless I can get directed to a different method.

I'm done with applying for the year and they're going to be 12 months in May anyway. 

Going to call BOA soon to see if it will graduate and get a decent CLI , if not maybe I'll close it .

Just got approved for cash rewards, 

$6,500 16.99% ! I'll do a recon and try to get a little bump but I'm happy.

Appreciate the tips !