Primary account holder

[Anonymous]

Im trying to put credit history on my credit report.My parents have good credit and offerd to help.If they add me ast he primary account holder to one of there credit card accounts and I maintain the bill.If the account is paid in full then closed does that show and affect my credit report and score?And do I need to be the only one on the account?

[Tuscani]

It will help until FICO08 is implemented.

[haulingthescoreup]

You need to be really clear on your terminology. "Authorized user" means that you can use the card, but you are not responsible for it. (Although cards are starting to change on this --see the Bank of America T&C.) "Joint user" means that you and your parents are all equally responsible for anything that goes on the card, whether you were aware of it or not.

I can see that if your parents are getting ready to close a card (which is generally a bad idea, by the way), and they want to make you a joint user, that could be very useful. The card * should * keep reporting 10 years after it is closed.

[Anonymous]

So if they add my as an  jiont user and the account has been up for five to six years.Do I recieve all the history on my credit report.And do they have to remove there name off of the account in order for it to reflect on my credit history?Also will that even raise my score.

[fused]

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jwhite0282 wrote:

So if they add my as an  jiont user and the account has been up for five to six years.Do I recieve all the history on my credit report.And do they have to remove there name off of the account in order for it to reflect on my credit history?Also will that even raise my score.

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1.) you will get the whole history

2.) their names will not be removed, the only change might be type of account will change from individual to joint

3.) yes, your scores should rise

[Anonymous]

So when applying for loans,cc,etc. In my name and social.Will my parents credit be affected by this.And will I still receive the credit benefits that affected me by there score.Even thoe I am opening new lines of credit just in my name

[fused]

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jwhite0282 wrote:

So when applying for loans,cc,etc. In my name and social.Will my parents credit be affected by this.And will I still receive the credit benefits that affected me by there score.Even thoe I am opening new lines of credit just in my name

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Your parents will only be effected by accounts that you are joint with them. If you apply for other loans, CCs and etc. in your name only, your parents have zero responsibilty.