I'm thinking about asking my Dad to list me as an AU on one maybe two of his 12-15 years old CC accounts to help my AAoA. I DON'T want the card and its doubtful that he'd allow me possession of it anyways but before asking him to do this I want to make sure that I can make a pretty convincing case to him to help me out on this. Him and I have just recently (a little over a year ago) mended our relationship. Until last year, I haven't spoken to him in 13 years. So to say he's a little bit of a selfish person is an understatement but his credit is great.(FICO 812!) So I want to explain to him what I'd like for him to do for me but I'm sure he's going to be skeptical about this not damaging his credit.
? If he adds me as an AU, does it have any affect on his credit at all especially if I don't have access to the card? ? He's a big spender but pays his bills on time always, will his high CC utilization negatively affect my scores? ? I've already learned that if he messed up and missed a payment that it could hurt my scores but how hard would it be to get CRA to correct this since I'd only be an AU and not responsible for the debt?
I guess that's all I really want to know, but if you guys have any "convincing arguments" that you feel might help me talk him into this feel free to chime in.
If the utilization is high it could keep your scores down some and as far as you wanting to remove late payments you would have to gw the creditor I think since they would be the one reporting . If he was late it would go on your report also even though ut not your card you want the good part but uf there us a bad part you get ut too can't pick only the positives.
Like I said, he's a pretty selfish guy. He's always looking out for #1, his kids come way down the list on his "things that he considers important" so I've got to be able to convince him that his good credit will not be in jeopardy if he agrees to do this. My sister asked him to consign for her once and all she got was a flat out no. I know consigning can jeopardize ones credit score but I still don't understand if adding an AU and not letting them have the card will.
I think I'll offer to take him to lunch tomorrow to sweeten the deal. I don't see why he would refuse this as he has nothing to lose or gain by doing so but he is a pretty selfish butt head and I don't know if hell even bother to look into it as to whether it could hurt him or not. I just don't want to get the flat out NO! Like my sis got. Maybe he'll consider it if I can convince him that's he's in no risk of having his credit damaged. Wish me luck!
I've got two Cap1 cards and a finger hut account. Finger hut is already reporting but one cap1 card I expect to start this month and the other next month. Other than that all I have is an auto loan (perfect history) three years old, paying off in September so my AAoA is only three years and I know that's not near long enough to be considered optimal for a mortgage loan so that's why I'm wanting to ask my Dad for this favor.
And I'm rebuilding so I can get a house its frustrating cause I have seen so many I want but I need to let my accounts age and my baddies age before I qualify. If he says no you have a few accts reporting so you will get there.