My sister is going to be added to her hubby's credit card accounts (on my advice) as authoriezd user so that her scores will (hopefully) go up. They are getting ready to buy a house. anyhow, here are some questions she asked me: 1. about how much could her scores go up if she is added to an 8 year old CC account w/ a 20,000 limit that has always been paid in full each month? 2. About how much could her scores go up if she is added to another perfect (but only 2 yr old) CC account? ($5000 credit limit) 2. If he adds her as AU, wouldnt he need to provide her SS# to them so that they can report to the bureaus? They are a little leery of that....they dont want a hard inquiry on her reports...she needs every point she can get, but I don't see any other way. It's worth it, right? Should her hubby just tell the CSR to make sure they dont pull credit? ( btw, his scores are 780-ish, hers are in the mid 600s.) thanks.
I don't know how many points will be added, but he should be able to add her without the SSN. The creditors seem to have ways of getting it to the correct place without the SSN. On the other hand, I think they can pull without an SSN. But there is usually no reason to pull her credit to add her as an AU. If she's being added as joint, they'll pull her credit. I've never had it pulled for AU.
Also the balance on the accounts needs to be low in comparison to credit limit. Even if it is paid in full at the end of each month, if the amount charged is high it won't be as helpful. For example if he charges 12000 on the 20000 account, even if he pays if off at the end of the month, the utilization would be over 50% and that's not good. I doubt that would be the case, but just wanted her to think about it.
his utilization is way under 50%. thanks for the info anyone have any idea about how much her scores might go up? one more quick question... Sis wants to know if she should close 3 low limit "mall store" CCs that she never uses. I told her it would probably look better to a mortgage lender if they were closed, but it may hurt her scores. Is that correct? thanks again. (isnt it funny how many C-netters end up helping family members w credit repair? lol)
Wouldn't close the store cards. They add to the age of her history. Also probably help w/ utilization ratios.
You can pull withat an SSN. Depending on who they subscribe with, you just inoput as much information as possible and the system will display the closest matches. From that list you select the file you want and voila, instant credit report. You know how many dealers (car) fish for info from people before they send them out on test drives jsut so they can pull your report while you are out? I have seen it done hundreds of times (yes, I know it's wrong but it happens). You'b be suprised how little info is needed....They want to see your drivers lisc..this gives them name, dob, and usually the correct address. While speaking to you they usually ask where you work or try to get an idea of what you do... this also helps (plus gives them an idea of how much you make). By the time you get back, they can have ecerything they need to know. Scary, huh? Shawn
I always wondered why they needed to make a copy of your drivers license before you could go out. And I thought in a lot of states it was illegal to make a photocopy of your license.
I am planning to put an authorized user with my household GM mastercard account, will they 1) pull new user's credit history before including that person, 2) Do they report to the CRA everymonth in both the names 3) will both the person are responsible for the future debt if any. thanks
Re: Re: need authorized user info please I have NEVER seen a "HARD" for an AU They MAY or MAY NOT do a "SOFT" every month for the AU
Sis wants to know if she should close 3 low limit "mall store" CCs that she never uses. I told her it would probably look better to a mortgage lender if they were closed, but it may hurt her scores. Is that correct? crowmom | ========= From what I hear. THE END ** *** ** LB 59
