My dad has Sears Mastercard account opened in 1975 with a 10,000 limit and a zero balance (always pays in full). In the hopes that I will be able to raise my credit scores to get a better interest rate for a house he is adding my as an AU. Does anyone know how this will report on my credit reports, OR if it even DOES report? Will it say on MY report that I have had this card for almost 30 years even thought I am only 25? My equifax score is an 618, with 82% credit-to-debt ratio and 6 years of credit history, I hope adding me to SEARS will really help me out. Thanks in advance for all those who spread the wisdom!
Multiple SEARS' posts sorry for the mulitple posts', after I had hit the "post message" button I kept getting a "busy or broken server" message...Anyway for those who aren't completely frustrated by my computer savvy, this was my intended post: My dad has Sears Mastercard account opened in 1975 with a 10,000 limit and a zero balance (always pays in full). In the hopes that I will be able to raise my credit scores to get a better interest rate for a house he is adding my as an AU. Does anyone know how this will report on my credit reports, OR if it even DOES report? Will it say on MY report that I have had this card for almost 30 years even thought I am only 25? My equifax score is an 618, with 82% credit-to-debt ratio and 6 years of credit history, I hope adding me to SEARS will really help me out. Thanks in advance for all those who spread the wisdom!
I have lots of accounts on my Report that were opened when I was 7. It says "ALERT: YOUR DATE OF BIRTH INDICATES CREDIT MAY HAVE BEEN ESTABLISHED BEFORE 18" so what ?
Multiple SEARS' posts I was an AU on my hubby's Sears account and it did show up on my CRs. I believe the entire history of the account will show up- your credit history will now be older than you! lol
Can't say about Sears .... When I added my wife as an authorized user on my Citi card, last year, it showed the entire 14 year history on her card too. If Sears is anything like Citi, yes you can have 30 year history while still 25 And yes, it does boost your scores. It works the reverse way also; if you are added as an AU on a recently-opened credit card, your scores will temporarily drop, and will climb back to the original level only after 6 months. If any lates etc., they affect the AU's credit scores also. If you want to boost the score, the Sears card MUST have a balance, even if it is $1. FICO does not reward sock-drawered cards (but won't penalize it either). You don't have to carry a balance from month to month and pay interest; it only needs to see a balance at the end of a billing cycle, which you may pay off before due date. Best of luck. -- lakpr
Re: Re: SEARS: adding me as an AU What I am trying to say is this: If you do regularly charge at Sears, DO NOT pay off the balance within the same billing cycle period (that is, buy something for $10 and send a check for $10 the next day). Wait until they send the statement, and THEN pay off.
Re: Re: SEARS: adding me as an AU thank you everyone for your responses...lakpr, thanks for the info regarding having a balance...my dad NEVER has a balance on his credit cards. I will ask him to charge something small and let the account cycle. Kelly
Multiple SEARS' posts I recently added my husband as an au to my Sears card as an attempt to increase his scores by improving the % of open available credit. When I called, I asked to make sure that the late payments on the card from 2 years ago wouldn't transfer, and they assured me they wouldn't. Imagine my surprise when I got a copy of hubby's credit report and it showed lates from 24 months ago. I called them yesterday and they said they would remove them, I just need to fax a letter along with a copy of the credit report. I did so, whiting out all info except the report number and identifiable info, and the Sears negative stuff. In my letter I stated that I specifically asked if the negative tradelines would show on his credit report and was told no, and I added that as a goodwill gesture for the trouble they put me through, I would appreciate if they would remove the late notations from my credit report as well. Don't know if it'll work, but I figure it's worth a try. I disputed the lates once before and they came back verified... Keeping my fingers crossed!!!
Multiple SEARS' posts sorry for the mulitple posts', after I had hit the "post message" button I kept getting a "busy or broken server" message kbns625 ================== Same thing happened to me more then once. The END ************************* LB 59
