authorized user help needed

[Anonymous]

My friend added me a few days ago as an authorized user on her CC. She has the best credit ever, like she has no late payment and she told me her credit score is at least a 800. She is the closest to a family member here in the U.S.

Her billing cycle will restart on the 13th and she is with Chase credit cards. How can I make sure that this reports to my credit and how long would that take? I am trying to get a mortgage down payment assistance program so the fastest the better.

Thanks

[Anonymous]

---

@Anonymous wrote:

My friend added me a few days ago as an authorized user on her CC. She has the best credit ever, like she has no late payment and she told me her credit score is at least a 800. She is the closest to a family member here in the U.S.

Her billing cycle will restart on the 13th and she is with Chase credit cards. How can I make sure that this reports to my credit and how long would that take? I am trying to get a mortgage down payment assistance program so the fastest the better.

Thanks

---

Any AU information will be updated when her card next updates to the credit bureaus.  There isn't really anything you can do to assure that it will report on yours.  You have to hope that Chase somehow is able to find your reports thru her overall credit file.  It's certainly more difficult when you live at a different address and they don't ask for a SSN.  Nonetheless they seem to be able to track down people's file quite readily.

[Anonymous]

we were roommates in college too so had the same address at that time. Would that help them find a connection?

[Anonymous]

---

@Anonymous wrote:

we were roommates in college too so had the same address at that time. Would that help them find a connection?

---

Probably would help.  I should note that while being an AU on her account and it reorts will help your report some, don't expect huge increases in your scores.  Unde current Fico scoring the effect of being an AU has lessened because they discovered that too many people were selling their credit files to others and putting them as AUs on their accounts without having any kind of connection.  Without knowing what factors are holding your scores down, there may be things you can do to move your scores upwards moreso than being an AU.

Either way good luck and welcome to MyFico.

[Anonymous]

I only have 1 revolving account and one installement account. All paid on time. The thing that is lowering me is my collection which I am disputing again with an attorney at the moment. I disputed last year and it was removed but they added it back (so annoying) but yeah that's about it.

[Anonymous]

---

@Anonymous wrote:

I only have 1 revolving account and one installement account. All paid on time. The thing that is lowering me is my collection which I am disputing again with an attorney at the moment. I disputed last year and it was removed but they added it back (so annoying) but yeah that's about it.

---

You might want to consider adding another one or two revolving accounts to your file.  In the current models optimal scoring is based on 3 revolving accounts.  If you're carrying a balance on your one revolving account adding others will also help to lower your overall utilization.  Of course the collection is the biggest factor but you can still have a very good score with a single collection on your report.

[Anonymous]

How could I get a new revolving account knowing that I want to apply for a mortgage? Wouldn't it mean I have to wait at least 3 months or kill my chances for a mortgage?

Also, how soon would the new revolving account reflect on my account? I need a 640 score to qualify for the calhfa program and I have a 627 so that's why I thought beind an AU would just help me reach that point on the next billing cycle of my friend (the 13th) knowing she has an amazing credit score and credit payments

[Anonymous]

---

@Anonymous wrote:

How could I get a new revolving account knowing that I want to apply for a mortgage? Wouldn't it mean I have to wait at least 3 months or kill my chances for a mortgage?

Also, how soon would the new revolving account reflect on my account? I need a 640 score to qualify for the calhfa program and I have a 627 so that's why I thought beind an AU would just help me reach that point on the next billing cycle of my friend (the 13th) knowing she has an amazing credit score and credit payments

---

Yeah, totally spaced out about the mortgage.  Don't apply for anything until after that's all settled.  It's possible that the AU account will increase your score enough.  It certainly won't lower it.  Guess there's really not much more you can do at this stage until you see how the account affects your score.  Good luck.

[Anonymous]

Ok so I should just wait until the 13th and go from there?

Thanks for your help

[Anonymous]

---

@Anonymous wrote:

Ok so I should just wait until the 13th and go from there?

Thanks for your help

---

Yeah, I'd start looking couple days after that to see what, if anything, appears.  You're very welcome