Married peopleâ?¦ I need some advise. After nine months of cleaning up my credit I still have a low score (594) due to limited credit. I have 4 cc with $8,300 and 1 retail card with $3,200 limits. Thatâ??s a whopping $11,500 total credit limit. Currently I have 1 car with FMC at $17,000 so my total credit file is $28,500. I have rented since college and have no house credit. I am getting married in September 2001; my fiancée has good credit with a FICO score around 730. He has 3 cc with limits of $10,000 each. I was thinking of asking him to add me as an AU, but I was wondering if his limits would show on my credit file. And would this help my credit score? My fiancée doesnâ??t understand, when I tell him that I do not have bad credit, I have limited credit due to the fact I do not have any house credit. I really donâ??t want to apply for more credit in my name due to the fact we will be house hunting in 2002. One last questionâ?¦ if his limit show on my reports, should we wait to add me because we just spend around $3500 on deposits for the photographer, video dude and misc. stuff for the wedding. While I have 80% of my credit lines available, he is at 30%. Should we wait till we get his balances down? Thanks
Re: Question on become an AU.. I have to agree with Lizard, what are your ratios and how old are your accounts?? What were you reasoning codes for your score?? You seem to have enough cards and lines on your own report. If you can work on your reasons for lowering your score you can probably bring your scores up all on your own. Mom
Re: Question on become an AU.. No you don't NEED a mortgage to score above 700, of course a mortgage helps your overall score but I have seen people have above 700 with no mortgage.
Re: Question on become an AU.. My lifeâ?¦ I first entered the credit world at 18.. 1989 but didnâ??t do so well. Only had a few cards and a car loan but managed to screw those up after a few years. All of those were removed after 7 years. Fast forward 1996 I opened my Cap1 and Target/Hudson both of them were charged off in 1998. Both paid, both now removed from all three credit reports. My credit file is thisâ?¦ 1997 BankFirst $700 Limit $100Balance 1997 FMC $17000 $6500Balance 1999 Providian $3700 Limit $800 Balance 1999 First Premier $400 Limit $0Balance 1999 FCNB Spiegel $3200 Limit $1300Balance 2001 Citibank $3500 Limit $2000Balance Ratios are: BankFirst 14% Providian 22% 1st Premier 0% FCNB 22% Citibank 57% My inquires are: (all in Feb 2001) Citibank (Approved) Providian Aria (Approved) AT&T Universal Card (Declined) I have not been late on a payment since 4/99 and that was on my Providian. Canâ??t get it removed from my reports. I have perfect payment history on my 1st Premier, FCNB, Bank First and Citibank since day one. I thought by adding my honeyâ??s better, longer, and higher credit limits my score would raise without applying for my own and getting more inquires and maybe more declines. My reasonâ??s were.. Limited credit line, my credit file is only 4 1/5 years old and debt to income ratios too high.
Re: Question on become an AU.. The Citibank is a balance transfer already. Which is why itâ??s the highest balance. I know that no one likes the 1st Premier card but I havenâ??t had a problem with them since day one. I mainly use them for gas, and my e-Bay purchases. I pay off the balance every month. I just called BankFirst earlier this month to ask for an APR reduction and/or limit increase. On the phone they said no but I received a $100 increase 5 days later. I know I shouldnâ??t close it simply because it is my oldest account. Iâ??m so confused. I donâ??t know what to do. Should I apply for new credit, with hopefully larger credit limits and close my lower limit cards? Or be added to my fiancées? Once we are married we plan to combine our finances any way. One checking account, keep our own cards but add each other as AU and you know all that fun stuff you have to do when you get marry.
Re: Question on become an AU.. Yes but if he adds you as a joint account holder your credit will have to be pulled AND they will determine if you can be added as a joint card holder, "au" doesn't rely on your credit for being added.
Re: Question on become an AU.. AS far as my experience goes "AU" does add your history to the person's report, I am an AU on 3 my better half's accounts and his credit history appears on my reports. Joint holds the additional account liable and their credit will be considered when adding a joint account user.
Re: Question on become an AU.. Thanks everybody I have two dumb questionsâ?¦ AU: I can use his card and sign for a purchase but I donâ??t get my own card or his history? Joint: I get my own card with my name on it and his history? LizardKing I thank you for all your valued advise.
