7 replies to this topic

[billyd]

So I'm an authorized user on my father's credit card (he put me on 10 years ago and I didn't know it). It's my best card on my report, 10 years, no lates, etc. But there's always a balance. I never use it but he always has stuff on there so I'm wondering if its a good idea to transfer to another credit card? If so, can I carry the benefits on it over like the account age, credit limit, etc. ?

So the credit card offer I got has a APR of 22% which doesn't seem great to me at all... I think the current card is 18%

Edited by billyd, 15 April 2012 - 04:29 PM.

[virtualtreasure]

So I'm an authorized user on my father's credit card (he put me on 10 years ago and I didn't know it). It's my best card on my report, 10 years, no lates, etc. But there's always a balance. I never use it but he always has stuff on there so I'm wondering if its a good idea to transfer to another credit card? If so, can I carry the benefits on it over like the account age, credit limit, etc. ?

So the credit card offer I got has a APR of 22% which doesn't seem great to me at all... I think the current card is 18%

can either remain on or be removed from current AU account...can be added separately as an AU to another account.

Edited by virtualtreasure, 15 April 2012 - 05:34 PM.

[billyd]

So I'm an authorized user on my father's credit card (he put me on 10 years ago and I didn't know it). It's my best card on my report, 10 years, no lates, etc. But there's always a balance. I never use it but he always has stuff on there so I'm wondering if its a good idea to transfer to another credit card? If so, can I carry the benefits on it over like the account age, credit limit, etc. ?

So the credit card offer I got has a APR of 22% which doesn't seem great to me at all... I think the current card is 18%

can either remain on or be removed from current AU account...can be added separately as an AU to another account.

Can't balance transfer or transfer my part of the account to another card?
How will it look on my credit report? Will it disappear? It's my best TL on my CR. 10 years of perfect payment history.

[virtualtreasure]

Sounds like may wanna hold on to it for now. Is DF willing to PIF before the statement due date each month, to keep reporting balances to a minimum? So long as the account remains positive and isn't reporting high balances it can offer a bit of a boost.

BTs are used to transfer balances (money owed) not account ownership.

The account is DF's, AU only has permission to use it, AU is not an owner in part of the account.
Work on re/building individual credit, allow AU account to assist in this endeavor if possible...nice to have the added age, but creditors will see it is an AU account; remember to focus on developing a strong(er) individual credit profile and moving that process forward.

[billyd]

Sounds like may wanna hold on to it for now. Is DF willing to PIF before the statement due date each month, to keep reporting balances to a minimum? So long as the account remains positive and isn't reporting high balances it can offer a bit of a boost.

BTs are used to transfer balances (money owed) not account ownership.

The account is DF's, AU only has permission to use it, AU is not an owner in part of the account.
Work on re/building individual credit, allow AU account to assist in this endeavor if possible...nice to have the added age, but creditors will see it is an AU account; remember to focus on developing a strong(er) individual credit profile and moving that process forward.

How can they see it is an AU account? On my credit report, I can't tell...

[virtualtreasure]

Sounds like may wanna hold on to it for now. Is DF willing to PIF before the statement due date each month, to keep reporting balances to a minimum? So long as the account remains positive and isn't reporting high balances it can offer a bit of a boost.

BTs are used to transfer balances (money owed) not account ownership.

The account is DF's, AU only has permission to use it, AU is not an owner in part of the account.
Work on re/building individual credit, allow AU account to assist in this endeavor if possible...nice to have the added age, but creditors will see it is an AU account; remember to focus on developing a strong(er) individual credit profile and moving that process forward.

How can they see it is an AU account? On my credit report, I can't tell...

Sounds like you are looking at a third party trimerge...looking at a credit report directly from EQ, the line item which lists the account relationship is "Account Owner: " it shows up as the second entry right after "Account Number:"

Edited by virtualtreasure, 15 April 2012 - 11:47 PM.

[billyd]

Sounds like may wanna hold on to it for now. Is DF willing to PIF before the statement due date each month, to keep reporting balances to a minimum? So long as the account remains positive and isn't reporting high balances it can offer a bit of a boost.

BTs are used to transfer balances (money owed) not account ownership.

The account is DF's, AU only has permission to use it, AU is not an owner in part of the account.
Work on re/building individual credit, allow AU account to assist in this endeavor if possible...nice to have the added age, but creditors will see it is an AU account; remember to focus on developing a strong(er) individual credit profile and moving that process forward.

How can they see it is an AU account? On my credit report, I can't tell...

Sounds like you are looking at a third party trimerge...looking at a credit report directly from EQ, the line item which lists the account relationship is "Account Owner: " it shows up as the second entry right after "Account Number:"

Can I transfer this to my own card? Like how loans are sold from one lender to another and still show account open as of date (from old lender)?

[virtualtreasure]

Sounds like may wanna hold on to it for now. Is DF willing to PIF before the statement due date each month, to keep reporting balances to a minimum? So long as the account remains positive and isn't reporting high balances it can offer a bit of a boost.

BTs are used to transfer balances (money owed) not account ownership.

The account is DF's, AU only has permission to use it, AU is not an owner in part of the account.
Work on re/building individual credit, allow AU account to assist in this endeavor if possible...nice to have the added age, but creditors will see it is an AU account; remember to focus on developing a strong(er) individual credit profile and moving that process forward.

How can they see it is an AU account? On my credit report, I can't tell...

Sounds like you are looking at a third party trimerge...looking at a credit report directly from EQ, the line item which lists the account relationship is "Account Owner: " it shows up as the second entry right after "Account Number:"

Can I transfer this to my own card? Like how loans are sold from one lender to another and still show account open as of date (from old lender)?

No. If it is an Amex from Centurion Bank when app your own Amex may get the older account open date placed on the new card (if you get lucky but Amex has apparently stopped backdating AU accounts for most.)

Edited by virtualtreasure, 16 April 2012 - 12:34 AM.