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Hello! My wife is trying to build her credit (she had none when we got married and we got her first CC in January) and my question is, since I added her to one of my CC's as an authorized user a score is generated via the myfico subscription. Now since she generates a score there will lenders see a score generated as well?
Thanks!
Robbie
Yes, it takes a certain amount of months of reporting if she had no credit at all, but if you get a report from myFICO, the lenders can see the same report.
I built credit for my wife like this. Her report consists of mostly authorized user accounts and one joint account. Her credit score is fantastic!
I guess my real question is, I added her only a month ago but on her report it gave her the full age of the account. So does this fact mean that the 6 month requirement is fulfilled?
I saw on other threads where people couldn't pull a score via myfico because they had no credit, that's what confuses me since I was able to pull her score.
When she was added as AU it was instant history. That is why she got a score. If it was a brand new CC, it would have taken 6 months to generate a FICO score.
So lenders should also pull a score? Sorry, I'm kinda new to this stuff.
Yes, if you (she) could get a score here on myfico, a lender can get a score. Keep in mind that there are different versions of FICO and they differ. What your lender pulls could be higher or lower than the one from here.
Thanks! I thought was what was going on but wanted someone to confirm who knows more than me lol. We are in the middle of building a house and will have to have our scores repulled when we close. Currently they were going to use nontraditional credit but now I don't think they will have to.
FYI, don't apply for credit within 6 months of applying for a mortgage.
Yeah we are not applying for anything right now which is why I was trying the AU method.