AU's credit score change

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pswinontario
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AU's credit score change

Postby pswinontario » Sun May 31, 2015 5:46 pm

Hi,

I can see that after adding my wife as a AU in my SM a/c, changed her score (drop to 30) points .

I really wondering how does her score drop after adding her as AU in my a/c.

Is it because of new a/c reported in her a/c?

How to prevent being that?

Any suggestion would be highly appreciated.


takeshi
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Re: AU's credit score change

Postby takeshi » Mon Jun 01, 2015 8:14 am

Impossible to say without details. The effect of being added as an AU depends on the tradeline itself. You can't assume that being added as an AU will improve scores. How does the tradeline look on her reports? What's the open date reported? Balance? Payment history? Give us something to work with. We don't have access to that information and can only use what you provide.

Vermonster
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Re: AU's credit score change

Postby Vermonster » Mon Jun 01, 2015 9:12 am

Also what score are we talking about? Is it FICO or Vantage?

Most likely if she has a thin file adding her as an AU cause a new account drop, as well as an AoAA drop. Some lenders also HP for AU's so that might be there as well.

You have to give more information though if you want help. Unless you plan on giving people access to your account (don't do that), we will only know what you tell us.
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pswinontario
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Re: AU's credit score change

Postby pswinontario » Mon Jun 01, 2015 12:28 pm

ok so this is based on credit karma report.

New Accounts Reported

BANK Credit Card May 5, 2015(open date) $4,800(C.limit) $355(Balance) Equifax
BANK Credit Card May 5, 2015 $4,800 $355 TransUnion

This is the only major change in AU's credit karma profile.
And score drop to 30 points.

So I do nt think that would a good idea to add AU to share credit card.

AU has a 50 points higher score than mine. But now only 20 numbers are different. IF I know this before I woul dnever add her to my a/c.

Any solutions to improve AU credit score.?

Thanx

Vermonster
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Re: AU's credit score change

Postby Vermonster » Mon Jun 01, 2015 8:03 pm

Yes, Time. There is no way to improve a score over 700, overnight. I actually doubt that doing anything other than gardening will improve a credit score over 700 in the short term. The biggest problem is that you added a new card to the account. That negates 90% of the bonus of adding an AU, from a score perspective.

But you need to look long term. I can guarantee that in 6 months with perfect payment history her score will be much higher than if you had never added the account
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