Who will win? My wife VS. Me

Discussion in 'Credit Talk' started by snakeman, Sep 2, 2003.

  1. snakeman

    snakeman Well-Known Member

    To make it simple, I have hired Lexington to repair
    my CB's. My score is 552 with 4 BK's, 20 Judgments, 3 Tax liens, and 20 other negative items ranging from foreclosure to repos, you name it I got it.

    My wife has let me try to clean up her 3 bureaus which are not quite as bad as mine. Her score is 575 with 2 or 3 judgments no foreclosure and fewer negative accts. She does have though, 3 chpt 13's.

    We are trying to see who can get to 675 first seeings how our scores are pretty much the same.

    We are currently paying an auto loan and have seen our scores jump from the high 4oo's to the mid to high 500's in just 5 months. I have a capital One card that I hope gets reported to make my score even higher while Lexington waves their "magic wands".

    My wife has a grandfather who has agreed to make her a "co-applicant" (not just an authorized user), on his Bank One account. This if approved, will report all of his credit history regarding that account on her report. HE has had this account since 1988 and has 35,000$ available credit with a 7.9% variable rate.

    If this gets reported will her score jump dramatically due to the age of this account? When my wife and I 1st met she did this with several of her accounts and when she made me a co-applicant (not authorized user) I inherited all of her credit history on those accounts which made my bureau look like I had those accounts for 3 years! My score if I remember correctly jumped quite a bit.

    Please give me feedback. Has anyone else considered this? I haven't seen anything like this posted here. Feel free to comment on whatever I wrote.....I'm tired.
  2. jlynn

    jlynn Well-Known Member

    Curious why he doesn't make her an AU. You get the same reporting benefits without liability for the loan. Another thought, and somebody more knowledgable of the workings of cc's might be a better one to answer this.

    If they AR her as a co-applicant, doesn't the gfather risk getting his rate jacked because of her scores?

    Anything you pay Lexington to do, you can do yourself.

    Your wife will win. Even if you get to 675 first your wife will win. Why? Because she is The Wife.

    A Wife
  3. snakeman

    snakeman Well-Known Member

    OK....fair enough, but I'm confused now. You see, I was told that an authorized user would not have the line reported to their bureau. A co-applicant would because they are now LEGALLY liable for the loan.

    They would raise his rate??.........if this is true then we don't want to pursue this.

    Can anyone else tell me more info about a similiar situation like this with either Bank One or another major CC company?

    thanks in advance
  4. jlynn

    jlynn Well-Known Member

    Some cc's do report AU's others don't. Maybe someone here has experience with Bank One.

    CC's are the devil :) They are always looking for reasons to raise rates, and usually it is "based on a review of your credit reports". If they even would approve her as a co-app, they could/would then unilaterally raise his rates because of her low scores. Do Grandpa a favor and find a card he has that does report, and ask him to make her an AU.
  5. snakeman

    snakeman Well-Known Member

    So you know for a fact that they will raise his rates. Well we don't want to do that but I still think the only way to get reported would be to add her on as a co-applicant.

    Doing this they take her SS# and actually go through somewhat of an approval process.

    As an authorized user they simply take her name and send a card.....

  6. snakeman

    snakeman Well-Known Member

    JUSt FYI, my wife was made an authorized user in July of this year. We pulled her credit 2 days ago and she showed no info from that CC (Bank One).

    Just thought you'd like to know.
  7. jlynn

    jlynn Well-Known Member

    Re: Re: Who will win? My wife VS. Me

    No - I don't know it to be a fact that Bank One will do that. It was really a word of caution from knowledge gained from people posting about scores dropping, utilization increasing, etc., and having their rates raised. Despite never being late on a payment!

    You might have your wife call Bank One and ask them to report.
  8. SoParkDiva

    SoParkDiva Well-Known Member

    Re: Re: Who will win? My wife VS. Me

    She will never be approved if they pull her credit. Some CC's do report to AU's file. She has a better chance going AU.
  9. snakeman

    snakeman Well-Known Member

    Re: Re: Who will win? My wife VS. Me

    Well then, my mission bcomes clear.....Bank One must DIE!

    Short of that, would someone that has had a CC report to their bureau while they were just an authorized user please post something here about what bank that was. I'm sure that he has a card that may do that if Bank One doesnt.

    Also do you know if discover does this? And has anyone here ever tried this to help their credit score?

    One last thought about this topic....BE CAREFUL about who makes you an AU because if they had any late pays or any other problems with that account you will INHERIT the bad stuff too.

    Just a word of caution is all.

  10. jlynn

    jlynn Well-Known Member

    Re: Re: Who will win? My wife VS. Me

    JC Penney - I don't know about bank cards
  11. lakpr

    lakpr Well-Known Member

    Re: Re: Re: Who will win? My wife VS. Me

    Citibank does report AU ... I made my wife an AU on my 13-year old Citibank account, and it started reporting on all her reports about a month to 2 months later

    [ I'm not sure when EXACTLY it started to report, since I monitor our reports only once a quarter ]
  12. snakeman

    snakeman Well-Known Member

    Re: Re: Re: Who will win? My wife VS. Me

    Well thanks for the citibank idea, I will pursue that thought and any others that may be posted here.

    Thanks a bunch

  13. Melissap1

    Melissap1 Well-Known Member

    Re: Re: Re: Who will win? My wife VS. Me

    I am going to be AU on my mother's Discover. Someone told me that they report, but I can't give you a definite.
  14. snakeman

    snakeman Well-Known Member

    Re: Re: Re: Who will win? My wife VS. Me

    hey thanx, let me know how that discover card goes, my grandpa has one so.....that could work.

    I should be cruisin this forum for some time so look me up and give me the scoop.

    Thanks again

  15. BurnIt

    BurnIt Well-Known Member

    Re: Re: Re: Who will win? My wife VS. Me

    I put my best friend on as an au for my Cap. One. They report all my history for the last 7 years on her report.
  16. rasincain

    rasincain Member

    Re: Re: Who will win? My wife VS. Me

    My dh is AU on my MBNA mastercard & Sears MC. The MBNA is reported on all CR's & the sears one just Equifax & experian. It shocked me when I 1st saw his CR, b/c I didn't think an AU would show up since they don't take SS#. How on earth do they know they have the right guy. Even one of his reports has us at different addresses. Seems that any guy w/ dh's name could get that reported on his report.

    Never occurred to me that the AU would help the score. I'll have to add him to my older accts. Thanx for the idea.

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