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Authorized user and credit increase ?

New Member

Authorized user and credit increase ?

I asked my lender if I were to be added in my mothers credit card which has perfect payments and low utilization if it would help me increase my score to get approved for a loan and she replied with "The authorized user status no longer helps the authorized user with the scores" is this true ? Or maybe she doesn't want me to do that because I've been added a few years back as an authorized user and it increased my credit score a lot
If someone has any information please let me know! I been working on my credit score for about 5 months and i just really would like to know if it would help my score.
18 REPLIES
Moderator

Re: Authorized user and credit increase ?


Karinaxoxo wrote:
I asked my lender if I were to be added in my mothers credit card which has perfect payments and low utilization if it would help me increase my score to get approved for a loan and she replied with "The authorized user status no longer helps the authorized user with the scores" is this true ? Or maybe she doesn't want me to do that because I've been added a few years back as an authorized user and it increased my credit score a lot
If someone has any information please let me know! I been working on my credit score for about 5 months and i just really would like to know if it would help my score.

@Karinaxoxo

 

Welcome to MyFICO

 

I moved your post here so that you can get some responses to your question.  I assume that you are talking about a mortgage lender.  What they told you is partially true.  FICO did make some changes to their scoring algorithms to change the effect of being added as an authorized user on credit cards because the process was being abused.  Nonetheless it still can help your overall credit to be added to an account in good standing but it's overall effect on your credit scores is dependent on a lot of factors including how much credit history you already have of your own.  If your mom's account is in good standing with less than 10% utilization then go ahead and have her add you as an AU.  It won't hurt your scores and may improve your mortgage scores a bit.  Good luck.

Contributor

Re: Authorized user and credit increase ?


Karinaxoxo wrote:
I asked my lender if I were to be added in my mothers credit card which has perfect payments and low utilization if it would help me increase my score to get approved for a loan and she replied with "The authorized user status no longer helps the authorized user with the scores" is this true ? Or maybe she doesn't want me to do that because I've been added a few years back as an authorized user and it increased my credit score a lot
If someone has any information please let me know! I been working on my credit score for about 5 months and i just really would like to know if it would help my score.

Being an authorized user can still help your score.  The problem is are you trying to obtain a loan right now?  It doesn't always look good to add something while trying to obtain a loan.

 

I think how much it helps you depends on your relationship to the person.  If it is the same last name and possbily house it might help you more.  I think they started taking into account people being added to good cards to help increase their score.



Equifax - 644
TransUnion - 641
Experian - 639
Senior Contributor

Re: Authorized user and credit increase ?

If the account has a long positive history( for example 10 years). It's not going to hurt..that is for sure! Especially if your history is much less than that.
FICO 8 Scores EQ=754 TU=779 EX=769 (INQ) EQ=19 TU=15 EX=15 TCL=$546,200
Contributor

Re: Authorized user and credit increase ?


Gmood1 wrote:
If the account has a long positive history( for example 10 years). It's not going to hurt..that is for sure! Especially if your history is much less than that.

That is good to hear.  I have been added to my moms accounts and they are all over 20+ years old and in good standing lol



Equifax - 644
TransUnion - 641
Experian - 639
Valued Contributor

Re: Authorized user and credit increase ?

An AU card can hurt if utilization isn't under control. It looks like the OP has that part covered.

 

It can potentially help by adding some history. And it can add utilization padding.

 

We'd have to know a lot more detail to be able to discern whether the OP will be helped or not. We should know about the OP's cards, along with their balances and limits. And we should know about current loans, along with the original loan amounts and current balances. Also, we should have current score information.

 

In this case, scoring aside, it looks being an AU doesn't impress this particular lender. I'd want to know if the lender considers AU status to be a negative independent of any scoring involved.

Senior Contributor

Re: Authorized user and credit increase ?


VoltaicShock wrote:

Gmood1 wrote:
If the account has a long positive history( for example 10 years). It's not going to hurt..that is for sure! Especially if your history is much less than that.

That is good to hear.  I have been added to my moms accounts and they are all over 20+ years old and in good standing lol


You're very fortunate! 😀

That's a crap load of payment history, if those accounts are backdating. 

 

For sure Ohio, assuming the accounts maintain good utilization and payments.

FICO 8 Scores EQ=754 TU=779 EX=769 (INQ) EQ=19 TU=15 EX=15 TCL=$546,200
Contributor

Re: Authorized user and credit increase ?


Gmood1 wrote:

VoltaicShock wrote:

Gmood1 wrote:
If the account has a long positive history( for example 10 years). It's not going to hurt..that is for sure! Especially if your history is much less than that.

That is good to hear.  I have been added to my moms accounts and they are all over 20+ years old and in good standing lol


You're very fortunate! 😀

That's a crap load of payment history, if those accounts are backdating. 

 

For sure Ohio, assuming the accounts maintain good utilization and payments.


Here is the break down

 

BoA - 22 Years

BoA - 21 Years

Sears - 37 Years (Older than me lol)

 

We will see if it helps me.  I am still waiting for the cards in the mail and then I have to activate them and wait for a statement to cut.  The only issue is the Sears one didn't ask for SSN so not sure if it will be reported.



Equifax - 644
TransUnion - 641
Experian - 639
Senior Contributor

Re: Authorized user and credit increase ?


VoltaicShock wrote:

Gmood1 wrote:

VoltaicShock wrote:

Gmood1 wrote:
If the account has a long positive history( for example 10 years). It's not going to hurt..that is for sure! Especially if your history is much less than that.

That is good to hear.  I have been added to my moms accounts and they are all over 20+ years old and in good standing lol


You're very fortunate! 😀

That's a crap load of payment history, if those accounts are backdating. 

 

For sure Ohio, assuming the accounts maintain good utilization and payments.


Here is the break down

 

BoA - 22 Years

BoA - 21 Years

Sears - 37 Years (Older than me lol)

 

We will see if it helps me.  I am still waiting for the cards in the mail and then I have to activate them and wait for a statement to cut.  The only issue is the Sears one didn't ask for SSN so not sure if it will be reported.


All of those should back date. Sears is Citi. 

Jeezzz..oh you'll know when they hit your reports! Lol

FICO 8 Scores EQ=754 TU=779 EX=769 (INQ) EQ=19 TU=15 EX=15 TCL=$546,200
Contributor

Re: Authorized user and credit increase ?


Gmood1 wrote:

VoltaicShock wrote:

Gmood1 wrote:

VoltaicShock wrote:

Gmood1 wrote:
If the account has a long positive history( for example 10 years). It's not going to hurt..that is for sure! Especially if your history is much less than that.

That is good to hear.  I have been added to my moms accounts and they are all over 20+ years old and in good standing lol


You're very fortunate! 😀

That's a crap load of payment history, if those accounts are backdating. 

 

For sure Ohio, assuming the accounts maintain good utilization and payments.


Here is the break down

 

BoA - 22 Years

BoA - 21 Years

Sears - 37 Years (Older than me lol)

 

We will see if it helps me.  I am still waiting for the cards in the mail and then I have to activate them and wait for a statement to cut.  The only issue is the Sears one didn't ask for SSN so not sure if it will be reported.


All of those should back date. Sears is Citi. 

Jeezzz..oh you'll know when they hit your reports! Lol


Yep!  I am waiting patiently to see what it does lol

 

I doubt it will be a lot.  I am still rebuilding but hope this helps.



Equifax - 644
TransUnion - 641
Experian - 639