OK---trying to raise my scores---obviously, trying to get a construction loan asap. My parents have a MBNA Visa (?) with a 15K CL and a 0.00 balance. They said they would make me an AU---do you think it would help??
if the account was open more than 2 years ago, then the credit history will appear postive on your report, but if their is a balance reported, then FICO will take the balance/to limit into calculating your utilization. Note: having a balance at "0" does not help your utiilization ratio, which FICO says should be under the average american's 34%.
So are you saying if there was a small balance on the card, that would help, but the 0 balance doesn't?
correct. A "0" balance account is NOT taken into account for your utilizaiton, but is accounted as an account and credit history with FICO. Does this make sense?
Maggie, I have been an AU on a relative's Citi Choice card for over 10 years. It helps me a great deal. The age is over 20 years, the credit limit is over 25, 000.00 and there are no lates or a balance. The 25, 000.00 CL helps me with my ratios quite a bit. When I remove myself in a few months, I will have 25, 000.00 less for utilization purposes. If your parents MBNA card has age, good credit limit and no negs, go for it. KK
I'm an AU on most of my wife's CC's. my utiliziation before being an AU was 63%, after it was 4%. My scores went up 20-25 pts across the board when I became an AU on her accounts. So yes it will help!! PolarisA3
That shows you that F.I.C.O. is a FRAUD!!! It has a lot of problems with ZEROS!!! One inquiry is better than ZERO inquires (THEIR IDEA) http://www.ftc.gov/bcp/creditscoring/present/sld008.htm
