Hi all…. Your expertise please!
Like many of you, I’m all over these boards. This question has been answered IN PART in several locations but not with the variables in this case. The variable is that I have added this person as an AU to my AMEX account. I am helping my sister recover from a marriage gone awry induced tanked score and BK discharged in December 2014.
Since the BK has discharged less than a year ago I have helped her with her gardening technique, baddie removal, CLI with existing credit line.
Will listing my sister as an authorized user(AU) on my AMEX Hilton Surpass in conjunction with the below factors help her for moving straight into an AMEX credit, rather than one of the AMEX charge cards. Here are her particulars:
– BK 7 discharged December 2014 (AMEX was not burned in the BK) she has never had an Amex account.
– Credit Union CC 2K
– C1 Quicksilver 2.1K
– Barclay World MC 1.5K
– Revolving in house medical credit line 2.5K
– Honda Finance (Tier 2 credit Lease, no cosigner)
– AU AMEX Hilton Surpass 6.5K
– Current Utilization <5%
– Highest Utilization 28% (for aprox 3 months)
– 4 Inquiries
– EX/EQ/TU: 710/715/700
– Zero late payments since opening all of these post BK discharge
– Minor CLI’s on all CCs
– Moderate usage
– 2 baddies removed (PTD)
: My sister has fallen in love with art of gardening, and she is definitely hooked. She is making great financial decisions and I have zero qualms with adding her as an AU. This board as well as others have responses showing no one with a BK (even if discharged) will be approved by Amex) other posts indicate clearly that they WERE approved with BK reporting. Amex does not pull a CR for an AU although they do capture the SSN for reporting purposes.
I have her on a track to apply for her first AMEX in January 2016. Her scores are continually rising and at that point she will have over 12 months positive reporting with multiple credit lines and low UA with minimal inquires. I am trying to stay on her about heavy usage with the AMEX (she PIF always on all cards) but she’s so apt to pull out cash and just pay that way. I’m trying to instill the concept of letting her money work for her… Earn the points, earn the cash back… These are benefits of responsible finance management/credit card usage.
DOES ANYONE have similar experience where you were added as an Amex AU and then ultimately being approved for your own AMEX account with q discharged BK7 still showing ? The predicament I am in from an advisory perspective…. Which card to have her app for. The Amex PRG or SPG Amex. PRG of course has more lenient UW requirements as a charge. But I also feel her credit profile is pretty strong (all factors considered) especially with an AMEX account reporting. She will definitely get more use out of the SPG card… But I do not want her to waste an app and an internal ding from Amex.
Thoughts please? Thanks!