As some of you know, there are going to be some BIG changes in FICO scoring starting this September with one CRA. Not sure which one but it has been speculated by some at this forum that it will be EQ.
I have decent scores, no derogs and just a few inqs, mostly on EQ. Like some of you, I have a short credit history without my AU TLs. These being closed and paid as agreed Amex TLs. I stand to lose at least 30-40 or more points with EQ and TU as these are the two CRAs reporting the AU TLs. My plan is simple, become a joint cardholder on my DW's Chase Plat (why couldn't have been a different ccc
) with 15 years of perfect payment history, a CL of 18k and a balance of 2k. In return for her precious gift, I will pay half the bal down (my play money) and assume responsibility of paying the card monthly.
) with 15 years of perfect payment history, a CL of 18k and a balance of 2k. In return for her precious gift, I will pay half the bal down (my play money) and assume responsibility of paying the card monthly. Anyone in this situation, or if most of your loans and CCs are subprime, becoming a joint cardholder will prevent a drop in your scores, or in case of the latter soften the blow. Just keep in mind, unlike an AU, becoming a joint cardholder will entail credit inq(s) and all of the other hoops you have to jump through. Afterall, YOU ARE APPLYING FOR NEW CREDIT! If you have baddies on your CRs, get rid of em if at all possible before you start applying. It's June so you have a couple months to work on it. No reason to wait, start the process NOW!
Makes no difference to me. I already helped many friends and family members via the AU strategy over the years. Luckily they all are 700+ now and no longer need me. 
