Authorized User

[YoungJay18]

what does being a authorized user on a credit card mean will i be building credit or the other person ?????

[Creditaddict]

yes it will report to your credit too most likely... it will help if the account has some age, has a decent CL and is not util. to much (balance vs CL)

[Wolf3]

Both, as long as it reports.

[Anonymous]

Coming in a little late for this topic, but I wanted to ask a question about Authorized User as well.  I was added to my fathers BofA credit card that was opened in 95 with no late payments. 

The Available credit is $24,000 with a balance of $6,885 which is 29%.   The problem is that Equifax and TransUnion do not show the $24,000 Available balance so my usage is sitting at 80% when it should be 29%.

I called Equifax and they are using the previous high balance of approximately $8,500 as the total Available Credit so they are calculating 80% which is not correct.  I am really confused on how to get Equifax and TransUnion to accept the actual Available Credit of $24,000.  This is a very strange situation that I was very surprised about.

Does anyone know how to get EQ and TU to accept the $24,000?  Experian shows $24,000 Available so it has a tremendous impact on my Experian score.

[LS2982]

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@YoungJay18 wrote:

what does being a authorized user on a credit card mean will i be building credit or the other person ?????

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you'll be "piggybacking" off of the cardholder's TL and long as it reports on your CR's. The only downfall is if there is any negatives on the account they become yours until you remove yourself as an AU on the card.

[CS800]

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@LS2982 wrote:

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@YoungJay18 wrote:

what does being a authorized user on a credit card mean will i be building credit or the other person ?????

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you'll be "piggybacking" off of the cardholder's TL and long as it reports on your CR's. The only downfall is if there is any negatives on the account they become yours until you remove yourself as an AU on the card.

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+1

[Anonymous]

Not all AUs will be reported on your credit report. I was AU on Macys Visa/MC and they wouldn't report on my CR. Some report, some don't. Ask before you take the time to AU if they report.

[Anonymous]

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@Anonymous wrote:

Coming in a little late for this topic, but I wanted to ask a question about Authorized User as well.  I was added to my fathers BofA credit card that was opened in 95 with no late payments. 

The Available credit is $24,000 with a balance of $6,885 which is 29%.   The problem is that Equifax and TransUnion do not show the $24,000 Available balance so my usage is sitting at 80% when it should be 29%.

I called Equifax and they are using the previous high balance of approximately $8,500 as the total Available Credit so they are calculating 80% which is not correct.  I am really confused on how to get Equifax and TransUnion to accept the actual Available Credit of $24,000.  This is a very strange situation that I was very surprised about.

Does anyone know how to get EQ and TU to accept the $24,000?  Experian shows $24,000 Available so it has a tremendous impact on my Experian score.

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"Available" != (does not equal) "Credit Limit"

On flexible spending cards, some NPSL, etc, no credit limit is reported.  This happens on some world elite cards, etc.  Your dad's card doesn't report as a fixed limit card and there is nothing you can do about it by complaining to the credit bureaus.  The only thing you can do is ask BoA to report it as a fixed limit card or wait until they get around to reporting an access line as a credit limit, which many other banks are starting to do.

good luck.