Weighting among score factors.

[ThomasJNewton]

If someone has only one card (7 years 5 months, no late payments, 25K limit, under 1% utilization), is an AU on another (6 years 6 months, 5K limit, utilization varies, but is often over 50%, no late payments) and is interested in building a better credit file, would people recommend waiting until the average age was over 7 years before applying for another card? Is having the AU card with its higher utlization, hurting more than its helping for having two cards?

Just not sure what to recommend for someone with such a thin file.

[CH-7-Mission-Accomplished]

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@ThomasJNewton wrote:

If someone has only one card (7 years 5 months, no late payments, 25K limit, under 1% utilization), is an AU on another (6 years 6 months, 5K limit, utilization varies, but is often over 50%, no late payments) and is interested in building a better credit file, would people recommend waiting until the average age was over 7 years before applying for another card? Is having the AU card with its higher utlization, hurting more than its helping for having two cards?

Just not sure what to recommend for someone with such a thin file.

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Adding that AU woud be a bad idea.   It would lower your AAofA and it would increase your utilization if you keep your own utilization at 1%.  

If you have that AU get rid of it and ask that it be removed from your reports.   You would be golden for most cards with that much age on one card.   I assume your FICO scores are at least in the mid 700s. 

There is no benefit in waiting until AAoA is 

[expatCanuck]

What CH-7 said.

[SouthJamaica]

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@ThomasJNewton wrote:

If someone has only one card (7 years 5 months, no late payments, 25K limit, under 1% utilization), is an AU on another (6 years 6 months, 5K limit, utilization varies, but is often over 50%, no late payments) and is interested in building a better credit file, would people recommend waiting until the average age was over 7 years before applying for another card? Is having the AU card with its higher utlization, hurting more than its helping for having two cards?

Just not sure what to recommend for someone with such a thin file.

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1. No reason in the world for you not to go and apply for another good card.

2. Yes you should ditch the AU account before applying. It's hurting, not helping at all.