FICO 08- Who is defined as a "genuine authorized user?"

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huahuafood
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Location: Baltimore

Postby huahuafood » Sat Aug 25, 2012 10:52 pm

Does this mean when it shows up on my credit report that it will be a factor in my overall credit utilization?


Money card
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Postby Money card » Sun Aug 26, 2012 12:00 am

Rossmo the reason Djrez4 said Bank of america is because the chase card your looking at is the United card which is an airline card
in which you can only redeem airline miles on united. wheres the Bank of america card which I assume you mean the cash back card.
you can get gift cards to most places, with your united card I believe you 1 point per dollar spent. Everywhere on United owned property
you get 2 points per dollar spent. yes you get lounge into the presidents , plus yeah you get discounts on your checked luggage
but does your fiance travel on company business?

now if you were comparing the Bank of america card vs chases own cards like a Freedom or slate or sapphire then this would be a different story.

rossmo
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Postby rossmo » Sun Aug 26, 2012 8:33 pm

Money Card,

Thank you for your post. Please note, this thread has nothing to do with rewards (in fact, I do not even mention what rewards if any come with my fiances BofA card). This is about building credit as an authorized user.

Feel free to read thru the thread and comment on the topic. Your advice is always appreciated! Thank you!
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

Crashem
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Location: San Francisco, CA

Postby Crashem » Sun Aug 26, 2012 8:46 pm

My guess is that you will be fine once you guYs share an address. She should probably change her address on card to new address as well.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

rossmo
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Postby rossmo » Wed Sep 05, 2012 12:40 pm

[color="Red"]UPDATE:
[/color]


My fiance added me to her BofA card 2 weeks ago. I got a new credit report today and the BofA card is already showing on my credit report!

My monthly credit report shows that:
-My AAoA is showing a longer credit history (again, due to my fiances card on my report and her 10 year history with her BofA card)
-Overall Credit utilization is a lower percentage

The BofA card is showing up on EQ and EX report. It is NOT showing up on TU report.

My credit scores (FAKOS) have gone up (btw, 19-50 points each), but a few other things happened over this month which could have contributed to that as well, such as CL increases on multiple cards, and decreased debt on my Credit Union CC.

My fiance and I just moved in together and are in the process of updating all of our accounts to reflect our new address. I will keep this thread updated with any changes due to being added as an AU.

Thank you all for your advice.
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

Crashem
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Postby Crashem » Mon Sep 10, 2012 10:08 am

I think you are good now. You need to test out who is going to fully take that au card into account. Avoid chase as they seem to have some internal scoring that discount a lot of non standard accounts. You can hit up chase after you get other cards if you want. I notice your equifax is way higher. What's on or not on it compared to tu and experian? I'll give you some advice on who to try once I get more details on your credit file and income.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

rossmo
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Postby rossmo » Wed Sep 12, 2012 11:03 am

Crashem,

I'll give you a bigger picture of what I'm working with... don't judge too harshly. I was young and didn't know how to manage my money/credit or the repercussions of doing so poorly.


-My annual income is around 50k.

-On EX and TU, there is a collection showing up on my credit report. [Note: I just started the dispute process with Experian and I'm waiting to hear back. I believe if nothing happens (no proof/response from collections) within 30 days, legally, they are obligated to remove it. :-) ]

-A "Charge-off" appears on EX report. [Note: Card was opened in 2005, and went delinquent in 2006. Payment with collections (settlement) was made in 2011. It reports on my credit report as "last reported in 2011", which means it won't fall off for 7 years from that point. Is there anyway to fix this so it reflects 2006 (as I believe legally it should reflect the date the card first went delinquent)]

-A "public record" appears on my EX and TU reports. (Note: This was for failing to pay a state tax which has since been paid and reports "Judgement Satisfied." However it still shows up as a public record, and it slated to be removed in 2019... anyway to remove this sooner?)

-Also, it appears that some of the good information (ie, the BofA card on which I am now an AU or my other credit cards) does NOT show up on TU. The only positive info on there is a Student loan paid off last year and my CapitalOne secured card opened in May of this year).


Any advice on how to handle this situation is greatly appreciated!
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747

rossmo
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Location: placetown

Postby rossmo » Wed Sep 19, 2012 1:57 pm

BUMP!

Any thoughts on this last post?

As always, your thoughts are appreciated.
Credit Union Visa: $5000 (4/11)
Discover IT $1750 (10/12)
Chase Freedom $1500 (3/13)
BofA Credit Card: $18.7k (1/02) (Authorized User)
Secured CapOne Visa: $300 (5/12)
Banana Republic Store: $1200 (5/11)
Express Next A-List: $1340 (6/11)

FICOS (as of 3/15/12):
EQ 762
EX 731
TU 747



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