I am cleaning up my credit before I tackle my wife's because hers is a mess. However, she does have one 9 year old cc with a perfect payment history. BUT, she does have a balance of 2300 on a 3000 card. I figure it would be smart for me to get on her card. But as a co holder or au?? How much of a tradeoff will there be for the higher balance compared to the length of history, which I need. (Mine averages just over 4 years right now) Is the tradeoff worth it and as what type of person on the account??
He was probably wondering why your history was only about 4 years old. So is mine, but I'm 25. Whatever. Honestly, it depends on the lender if they report the authorized user to the credit bureaus. If they DON'T, you may want to be a co-applicant/co-signer on the account. However, a credit check may be required to ascertain your own credit worthiness if you are going to "own" the account with your wife. (Depending on your state, you may already have!) My wife is an AU on my Wells Fargo card and BofA card. No credit checks required (usually) for an AU. Wells and BofA doesn't report AU to the bureaus, yet she has a card. It allows her access to "MY" account. Yet, I'm an AU on "HER" Sears, Citi and Chase, and they show up on my credit report. That's why I say that it depends on the lender.
Quit bein a Smart A$$, we're trying to help you. If one has a short history it has FAR less of an affect on your credit worthiness when you're young. It's not at all unusual for a young person to have a short history. Conversly, if you're 50, and have a 4 year old history then obviously that's not good. Since you're in your 40's then yes, you should try to get AU status from that one CC from Mrs. Wert. But you will want to make sure they report AU's, some don't.
