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Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
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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,

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Epic Contributor
Posts: 25,216
Registered: ‎10-23-2007
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Re: Making my 42 year old son an Authorized User

Your son cared for his ill mother?

plan for the 2 AU sounds good

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
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Frequent Contributor
Posts: 340
Registered: ‎10-16-2011
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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.

Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
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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
Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
0

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
Established Contributor
Posts: 854
Registered: ‎12-09-2012
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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)
1/15/14 TU 665 | EQ 648 | EX 655 ~Myfico scores
1/29/15 TU08 666 | EQ08 676 |EX08 655 } EQ04
My Wallet: Cap1 3,500K ~FH 950 Credit One 1300~Orchard Bank 2000~ Matrix 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 8K ~Care Credit 3,500
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