Benefits of being added as an auth user with a high CL?

[Anonymous]

What are the benefits of being added onto someones credit card that has a high CL and good on payments? and does it have to be a relative? or can i pay someone to just add me onto their account and they can just cut the credit card that gets delivered to them under my name?

Being added to someones card wouldnt that make my debt to credit ratio go down? since on the CR it would show i have like 20k+ on 1 new card?

[Anonymous]

Don't pay someone.

[heyarrnold]

You would inherit the age of the account and the limit. Thus, your util would go down if the limit is big enough. For Amex, it's a bit different. 

[Anonymous]

so therefor my scores would go up right? and what about amex? i wonder who could add me to their credit card. any suggestions?

[heyarrnold]

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@Anonymous wrote:

so therefor my scores would go up right? and what about amex? i wonder who could add me to their credit card. any suggestions?

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Well, I know that certain lenders do not account for AU accounts. But FICO 08 models do take into account AU's. So yes, they may help. 

Amex, you do not inherit the age of the account. Just the limit. So if you get added to an account that has a 5 year old history, the account would report as new on your report. So your AAoA would go down. 

Anyone can add you as an AU lol. But he/she must you trust you and vice versa.

[Anonymous]

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@Anonymous wrote:

so therefor my scores would go up right? and what about amex? i wonder who could add me to their credit card. any suggestions?

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Not that high.

Got any relatives with stellar credit and stable spending patterns?

[09Lexie]

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@Anonymous wrote:

What are the benefits of being added onto someones credit card that has a high CL and good on payments? and does it have to be a relative? or can i pay someone to just add me onto their account and they can just cut the credit card that gets delivered to them under my name?

Being added to someones card wouldnt that make my debt to credit ratio go down? since on the CR it would show i have like 20k+ on 1 new card?

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With the change to FICO 08, the 'benefit' of TL renting is no longer available.  Besides the unethical issues of paying for a credit score, most lenders disregard AU TLs  anyway.  

[Anonymous]

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@09Lexie wrote:

most lenders disregard AU TLs  anyway.  

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You can say that again. I remember my first recon failure. I mentioned the accounts i'm an AU on and the limits they have on them vs balance. "We do not use that information to determine your credit limit, sir."

[CreditCuriosity]

08 basically killed off AU's although Barclay's did comment on me being one on a 25k limit card and asked if i was responible for payments.  I know where they were going with it, but none the less they did ask.  As far as score doesn't really help.  Amex is another story if you were an AU on someones account for along time as you inherit there MS date.. Can't wait till I get my first amex as I was an AU on parents since 1980.. Oh the AAOA will help me so!!!

[Anonymous]

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@CreditCuriousity wrote:

08 basically killed off AU's although Barclay's did comment on me being one on a 25k limit card and asked if i was responible for payments.  I know where they were going with it, but none the less they did ask.  As far as score doesn't really help.  Amex is another story if you were an AU on someones account for along time as you inherit there MS date.. Can't wait till I get my first amex as I was an AU on parents since 1980.. Oh the AAOA will help me so!!!

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Yeah....they asked me this too..Lol.. I knew better than to tell them I am in charge of the whole shebang.