My first post, looking for a specific answer

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CSMB
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My first post, looking for a specific answer

Postby CSMB » Sat Jan 05, 2013 11:24 pm

I've been reading blogs and forums for the past year but there has never been an answer to my specific question:

When i graduated from college two years ago i applied for amex zync and chase freedom (when i didn't know anything about credit) and got denied from both because i "had no revolving accounts" aka no credit history. I waited a while, did a lot of research and eventually asked my dad to make me a joint account holder on a card rather than me opening a secured card. He opened a new Chase Sapphire account (regular, not preferred b/c of the annual fee) and since then ive been building and monitoring my credit. He doesn't use the sapphire its my responsibility he just put his in the drawer. After a year of credit history, I'm in the 700's on all bureau's.

I just applied for my first card, Discover More, that was mine and only mine and got approved (EQ pull 731). I applied more to start gaining age on a second account than anything else. Not because of a need for more credit or a sign up offer or anything else. Im being very conservative with my credit and looking at the long run.

I really want to take over that Sapphire account because its got a much higher credit limit. Im wondering if you can take over a joint account when you were the second person added on it.

Ideally, I'd like to take over the sapphire account, then upgrade to preferred in a little while, then get the freedom so i can combine points. Then get in on Amex. I would use the sapphire and freedom based on what i can get the most points on, and then use the amex for all other spending that accepts it. So basically, I would collect points only on UR and MR. I'm not interested in cards with bad customer service, i hate bad customer service.

So main question is, is there a chance with chase that i could take over the sapphire account?

Thanks for reading, looking for good advice.


Robrus1
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Postby Robrus1 » Mon Jan 07, 2013 3:44 pm

No. You'll need to apply for your own Chase Sapphire credit card. It doesn't matter if you've been paying the bill or not. Legally, and as far as Chase is concerned, you aren't responsbile for anything you charge, only the primary cardholder is. If your credit score has gone up, it is not likely it is from being an authorized user on your father's account. I have an authorized user on my Sapphire card and all Chase asked for was a first/last name. No ssn or any other info, so whatever my au charges is my responsbility, and mine alone. If you want your own Chase card, you'll have to apply for your own.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

CSMB
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Postby CSMB » Mon Jan 07, 2013 4:33 pm

I see what you're saying, but I'm a joint account holder, so I'm pretty sure it is what helped my credit because it was my only line of credit for about a year. That account shows up on my credit report and everything. I know that AU's cant take over the account, but have you ever heard of a Joint Account holder taking one over? Even if they have to run another hard credit check, I'm cool with that. I just dont want to lose the history of that account as it is my oldest. So yea, can a JA take over an account even if I was the second person added?

Ratfacedudeguy
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Postby Ratfacedudeguy » Mon Jan 07, 2013 4:36 pm

Yes, Robrus1 nailed it. Also, it should be mentioned that there is a huge difference between a "joint" account and an "authorized user" on an account. As Robrus1 said, an authorized user (AU) has no legal responsibility for repayment of the amounts charged to an account. On the other hand, a joint account would mean that each person whose name is listed on the tradeline is equally liable for repayment of 100% of the outstanding balance. I asked Chase before I applied for my CSP, and they informed me that they do not allow joint ownership on their credit cards, so unless that's something that's recently changed, you're only an AU on that account, which would mean that you would have to apply on your own for the CSP and be at the mercy of the computer/credit analyst. The good thing is that you wouldn't have to worry about that Sapphire account getting cancelled if your application gets denied or anything. Out of curiosity, what is the limit on that Discover card you have? If it's over $5000, you might have a small chance at getting approved for a CSP.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

CSMB
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Postby CSMB » Mon Jan 07, 2013 7:57 pm

Definitely a joint not authorized. Maybe they don't allow it on the preffered but they do on the regular sapphire. I don't think I would get approved for the CSP right now because of my limited history and not so high income. That's why I was hoping I might be able to take over the joint account and then after a year or so with better income I could maybe upgrade. Discover limit is 1250. Didn't do a balance transfer or ask for an increase or anything though. Probably should have at least asked. Guess ill probably just have to get the freedom and wait a while to get the CSP. Hopefully you can still combine points down the road. I know they already ditched the exclusives program!

Robrus1
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Postby Robrus1 » Tue Jan 08, 2013 7:34 am

It sounds like you are confident that you are on a "joint account." If so, why not just call and ask them if it's a possibility?
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Ratfacedudeguy
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Postby Ratfacedudeguy » Tue Jan 08, 2013 9:16 am

If it is indeed a joint account (which I'm not really doubting you -- CSRs tend to spout off the most convenient answer whether it's true or not), then you already have the current Sapphire's account history and usage on your side which will definitely help your approval. I'd say take the plunge and app for the CSP anyway. What's there to lose other than an inquiry that will stop counting against your score after a year anyway?
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

CSMB
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Postby CSMB » Tue Jan 08, 2013 12:25 pm

Thats a good point. I may just do that. Thanks for the advice!



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