Apparently Piggybacking Works.....

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
6 posts
UPS Gregg
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Location: Tennessee

Apparently Piggybacking Works.....

Postby UPS Gregg » Sat Mar 16, 2013 5:43 pm

My wife is a Mexican citizen and didn't have any credit so three years ago I started adding her as an authorized user on all of my cards. A few weeks ago she applied for her own Visa card through our bank (USAA) and was approved with a credit line of $15,000.00. I was shocked because a little over a year ago I ran her SSN through Experian to see if she was in the system and to get a free credit report but they couldn't bring her info up. I was thinking she didn't have a credit profile yet. Well, apparently she does now. :)
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00


rossmo
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Location: placetown

Postby rossmo » Sat Mar 16, 2013 5:57 pm

Awesome! Congrats!
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

DavidNY
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Location: New York

Postby DavidNY » Sat Mar 16, 2013 7:09 pm

Cool .

Gamma
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Postby Gamma » Sat Mar 16, 2013 9:18 pm

I did this with my brother last year because he didn't have a big credit profile yet and when I applied for the Citi TYP card with his social, I got declined after a 7-10 day message popped up because too many new recent accounts added which I thought was stupid seeing it wasn't accounts opened, but rather added a authorized user.

MaxPunishment
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Postby MaxPunishment » Sun Mar 17, 2013 6:22 am

I find that banks will generally grant the highest limits to both the safest and riskiest of consumers, the latter in hopes of accumulating a considerable profit from the interest they will charge over the years for the high balances. My brother has less credit history with less income and less solid payment history and he routinely gets instantly approved for higher limit credit cards than myself. Given her limited credit history, they may view her as being in the latter category but I'm sure she will use the card wisely.

UPS Gregg
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Location: Tennessee

Postby UPS Gregg » Sun Mar 17, 2013 2:41 pm

MaxPunishment wrote:I find that banks will generally grant the highest limits to both the safest and riskiest of consumers, the latter in hopes of accumulating a considerable profit from the interest they will charge over the years for the high balances. My brother has less credit history with less income and less solid payment history and he routinely gets instantly approved for higher limit credit cards than myself. Given her limited credit history, they may view her as being in the latter category but I'm sure she will use the card wisely.


We haven't paid interest on anything other than our house since 2005. :) We actually pay off charges (which are rare anyway lately) as soon as they post to the accounts.
Current FICO: 805 (Equifax)

Current Cards:

*USAA Platinum MasterCard CL-$1,000.00
*USAA Signature Visa Card CL-$15,000.00
*USAA Rewards Amex CL-$15,000.00
*HSBC Best Buy Card CL-$3,300.00
*Amex Macy's CL-$8,000.00
*JPMorgan Chase Marriott Rewards Premier Visa Signature CL-$20,000.00



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