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Regular Contributor
RussianPassion
Posts: 168
Registered: ‎08-03-2011

About adding an authorized user

I want to add my wife to my Capital One cards to jump start her credit. Her credit is pretty much messed up as she defaulted on a bunch of stuff in the past and it is still all there...

 

Does that matter for AU? I still have to give Cap 1 her SS#, right? Do they do any kind of a pull hard/soft when adding an AU to the account?

Valued Member
OnMyMiNd04
Posts: 32
Registered: ‎08-18-2008

Re: About adding an authorized user

I, too have wondered this about Cap 1. I guess there is a verification process that they do before issuing a card for an AU. Weird. 


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Mega Contributor
Creditaddict
Posts: 18,543
Registered: ‎10-23-2007

Re: About adding an authorized user

Amex use to check AU for blacklist and wouldn't issue cards, but starting a couple years ago this seems to have gone away.

I have never heard of Cap 1 blacking people from being AU even if they can't get a card themselves with Cap1.

 

In addition adding AU user does not allow a bank to pull Hard pull Credits, not even sure soft is option either, just internal if they want to go that route.

Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Frequent Contributor
CreditBob
Posts: 493
Registered: ‎05-01-2007

Re: About adding an authorized user

Authorized users do not have their credit pulled because the actual account owner, being you, is still fully responsible for all payments & balances. You will need to check with future lenders to see if they will consider AU status when she applies. I kobo that my credit union will not use these types of accounts or will Chase Bank even though they are on the credit report.

 

I know this because I have talked with them & here is there responses. "AUTHORIZED USER ACCOUNTS"-these types of account holders do not demonstrate the the financial responsibility to measure credit worthiness because they are not responsible for making the payments. All that has happened is that the information off of another individual's credit report has been copied (piggybacked). It is not fair to someone who has shown through actions of their payments that they can be trusted with money or funds from us. The other thing is that we also look at their entire credit report. If there are any negative accounts we will count those against them until they have been deleted from the bureaus.

 

I would recommend that you cosign with your wife.

Frequent Contributor
CreditBob
Posts: 493
Registered: ‎05-01-2007

Re: About adding an authorized user

I am also ware that it is being suggested that authorized user accounts be banned form the credit scoring system. This is being done on the federal level.  They would still be on the credit report but it would not be factored into the score. I have always wondered bout these accounts and have talked to some of the creditors. Some of them have gotten away with AU accounts.

Mega Contributor
Creditaddict
Posts: 18,543
Registered: ‎10-23-2007

Re: About adding an authorized user

I think very few banks have the computer systems set up to remove accounts that just show an applicant as authorized on and there for not approve if they only have 1 account that is auth.  I do however agree that I don't think having an auth account with a creditor helps you get a card with that same creditor on your own.

in the past but not sure anymore, Neimans would consider joint accounts when individual would apply alone and Von Maur department store will give you a min. of $500 credit line if you have had a joint account for 6 months or something to open on your own regardless of credit.

 

but like I said that's very small number... au can be very helpful if with right bank and account is used very well and is an older account

Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: About adding an authorized user


CreditBob wrote:

I am also ware that it is being suggested that authorized user accounts be banned form the credit scoring system. This is being done on the federal level.  They would still be on the credit report but it would not be factored into the score. I have always wondered bout these accounts and have talked to some of the creditors. Some of them have gotten away with AU accounts.


Do you have a source for this? I'm not saying you're wrong because I'm not sure either but I'd like to research it further.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

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Member
VESSYLV7
Posts: 23
Registered: ‎07-22-2010

Re: About adding an authorized user

 I called Capital One and ask to have my mom added to my credit card as AU.

    They ask for her SSN,date of birth,address and told me they will report her to the 3 CRA and how CRA will count this TRADELINE is not p to Capital One...

The new card should be here in 5-7 days.


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