@Anonymous wrote:
Hi, If I add my son as an authorized user, will he inherit my credit score, or just start building credit in his name based on my bill payments on that one account? I have a delinquency from 2010 on my account (I know you don't want to hear my excuses so I won't bother, LOL) and I'm curious if he will be affected by that mistake, or it will just be fresh.
He'll typically inherit the entire tradeline, late payment and all. It's a great idea to add him as an AU if you have any "clean" lines, especially those you keep low balances on. Amex - if you have one - also has the perk of backdating, so if you were to add him today (6/12), and he applied for his own Amex in say 2015, Amex would report it as started in 6/12.
It may not be a bad idea to apply for your own "toy" card - for exampe, an unsecured Cap1 card with a low balance - and add him as an AU. Neither one of you really uses the account much, and he gets to start his profile with a decent revolving account.
Others will have additional info and opinions, I'm sure.
EDIT: Welcome to the forums, by the way!
