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Making my 42 year old son an Authorized User

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Frequent Contributor

Making my 42 year old son an Authorized User

My son is 42 years old and does not have a credit record. I have two cards with USAA, one is 4 years old, the other is 2 years old. I added him as an AU a few days ago and I asked USAA if they will be reporting on his credit report and they said yes. I asked about the cards being dated the same as mine and they said yes. So, with the two cards reporting and an AAoA of 3 years and all payments on time what kind of score could he expect once USAA reports to the CRAs? He will have a thin file but it should be a good start. I have checked all of the annualcreditreports.com, Credit Karma, Credit Sesame and Credit.com and none of them have a record of him. The cards will be sent to me and he will never see them, let alone, use them. He wanted me to cosign for a car but I figured this to be the best course of action. It will help him and I won't be liable if he messes up. He has been on a small paying job for a couple of years after caring for his ill mother for over 10 years. What do you guys think about this?

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 1 of 6
5 REPLIES
Epic Contributor

Re: Making my 42 year old son an Authorized User

Your son cared for his ill mother?

plan for the 2 AU sounds good

Message 2 of 6
Frequent Contributor

Re: Making my 42 year old son an Authorized User

Hard to say what his score will be. I added my 20 yr daughter about a month ago, on my discover 6.6k limt $500 owed & my baclays visa 4k with 1k owed & both reported. Did not generate a credit score yet. I did however help her get aproved for a cap one on her own wth $300 liit. Both my cards are 3 years old perfect payment history. Good luck too your son. Im sure it will hrlp get his foot in the door with cap one etc.

Message 3 of 6
Frequent Contributor

Re: Making my 42 year old son an Authorized User

Your son cared for his ill mother?

plan for the 2 AU sounds good

 

Yes, she was my first wife we had been divorced over 30 years

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 4 of 6
Frequent Contributor

Re: Making my 42 year old son an Authorized User

Hard to say what his score will be. I added my 20 yr daughter about a month ago, on my discover 6.6k limt $500 owed & my baclays visa 4k with 1k owed & both reported. Did not generate a credit score yet. I did however help her get aproved for a cap one on her own wth $300 liit. Both my cards are 3 years old perfect payment history. Good luck too your son. Im sure it will hrlp get his foot in the door with cap one etc

 

 

I figured he should app for a card himself after the other cards report. Both should be reported within 2 months.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Message 5 of 6
Established Contributor

Re: Making my 42 year old son an Authorized User

My son was like you, very thin file and only negative in it.  What I did was add him as AU on a few of my cards and also kept trying the Credit one Pre-approval site and everytime they couldnt approve him they gave him a letter with his score on it. Its not a hard pull on his credit. But that helped me to know how much more work we ( him and I ) needed to do to get his score up. 

 

Capital one also has a pre-approval area where you can see if his score is up enough for them with out taking a hard pull on his credit. 

It took 3 months before my son was even qualified for a Credit one card of his one. But it was worth the wait, he's finally on the road to his own credit!

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)

Myfico 8 scores
7/31/16 TU 710 ~ EQ 699~ Ex 705
My Wallet: Cap1 3,500K ~FH 2950 Credit One 1800~Credit one #2 1500.00~Orchard Bank 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 11K ~Care Credit 4,500
Last Negs to fall off: 2-Cap1 CO's PD (fall off 3/17)
Message 6 of 6