//Advice on AUs and cards for building credit

Advice on AUs and cards for building credit

I started out 2019 with no credit at all good or bad. I heard about piggybacking with seasoned tradelines and asking around about it found a friend of friend who has been selling his to agencies for years. He offered to sell me two of his for very cheap compared to any agencies I've seen. One was $41k and eight years old, the other was $2k and 13 years old. I then tried applying to some points cards since I travel a lot for business, but was surprised when I was turned down for all of them. I ended up getting a Capital One Platinum card with a $3k limit.

From searching this sub, it seems the deal with the AUs is one of two things: that bureaus don't factor more than one AU into your score or that many creditors ignore all AUs when considering you for approval. I'm considering either having the $41k eight years AU added back or, less likely, putting up a considerable amount of money to buy a couple AUs with around that limit but 20+ years old. The former would be very cheap so worth it as long as it's actually considered by creditors. The latter would be worth it if it would actually get me approved for what I want, but I doubt that's the case. It seems people here are generally against purchasing tradelines, but hoping I can get an explanation of how this works.

Assuming I can't considerably game the system, I'm also wondering what other card people would recommend I apply for next in order to build my credit. I'm thinking if I have one more card like the CapOne and can get limit increases on both after six months then I won't be too far from qualifying for actually decent, if not top tier, cards.

submitted by /u/sg2k19 [link] [comments]

Read more: reddit.com