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Authorized User

Established Member

Re: Authorized User

Any idea how adding her as an authorized user will afftect her since she has no credit?

We are both full time students with no income.

I got all my cards will working full time.

app free since 11/24/12 In Garden Until December 31st 2013
Walmart Discover 3,000 : Meijer 600 : Local Bank Card 500 : Capital One Platinum 500 : Best Buy Reward Zone 400 : Chase Slate 200
Message 11 of 16
Established Contributor

Re: Authorized User

it takes 6 months to calculate a score, if she's added she'll get 6 months + of history so she'll have an immediate score.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 12 of 16
Established Contributor

Re: Authorized User

If you're in the habit of maxing out cards then I don't think you should add her at all. Be sure you keep the cards paid down so that this will actually be beneficial to her.


Starting Score: 515
Current Score: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 13 of 16
Moderator Emerita

Re: Authorized User


Simply827 wrote:

If you're in the habit of maxing out cards then I don't think you should add her at all. Be sure you keep the cards paid down so that this will actually be beneficial to her.


+1

Message 14 of 16
Established Member

Re: Authorized User

Thats good to know about the 6+ months of history. That means I will just put her on my Slate card b/c of18+ history. Paid of many times. Never late on any of my CC payments. I am not intrested in maxing out my cards anymore. I am only going to use them like debit cards and reap rewards and good credit. The whole goal with credit cards for me "now" is to get rewards and get an amazing score so I can buy my family a home.

app free since 11/24/12 In Garden Until December 31st 2013
Walmart Discover 3,000 : Meijer 600 : Local Bank Card 500 : Capital One Platinum 500 : Best Buy Reward Zone 400 : Chase Slate 200
Message 15 of 16
Established Contributor

Re: Authorized User


blackdust wrote:

Thats good to know about the 6+ months of history. That means I will just put her on my Slate card b/c of18+ history. Paid of many times. Never late on any of my CC payments. I am not intrested in maxing out my cards anymore. I am only going to use them like debit cards and reap rewards and good credit. The whole goal with credit cards for me "now" is to get rewards and get an amazing score so I can buy my family a home.


part about credit people never seem to understand is it doesn't matter if it's paid off many times

 

you could charge a pack of gum every 4 months as long as your never late on your payment your credit will be just as good as someone who regularly maxes out his cards every 2 days and pays in full.

 

Rule 1. Never charge more than you can pay back   2. always pay on time 3. if you like the first two rules my paypal is my username @ aim.com =)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 16 of 16