Piggy Back ?!?!?

[devineer1]

I have asked a few questions... Majority rule... have come back to me gardening... Last question I promise.. Can I piggy back off my MIL.. She said she would add me to get credit for her payments each month .. Is this a good idea and what companys allow this?

[Anonymous]

It's called being an authorized user and all companies do it.  Can help out but always

[coldnmn]

All have authorized users.When applying for a new credit card some don't take authorized user accounts into consideration when you apply.

[Anonymous]

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@devineer1 wrote:
I have asked a few questions... Majority rule... have come back to me gardening... Last question I promise.. Can I piggy back off my MIL.. She said she would add me to get credit for her payments each month .. Is this a good idea and what companys allow this?

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Sounds like a great idea to build some credit. Being an AU on a card with perfect payment history, a good limit, and low usage can help a lot. I probably know this better than most. Just got approved for two $7k Chase cards with only an AU US Bank $25k limit card in my report. YMMV, but if she is and has been responsible with her card, it can't hurt. Also remember that if she stops paying and it begins to hurt your credit score, you can ask the bank to remove you and you never have a legal responsibility to pay for charges on that account.

[MarineVietVet]

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@devineer1 wrote:
I have asked a few questions... Majority rule... have come back to me gardening... Last question I promise.. Can I piggy back off my MIL.. She said she would add me to get credit for her payments each month .. Is this a good idea and what companys allow this?

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Yes it can help  IF the account is older than any of yours (older than your current AAoA is even better), IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.

[Kenny]

And some cards don't report the entire history .. only when you've been added so you have to make sure about that, as well.