Question on authorized user

Pineknot69 · ‎03-28-2017

Hello, my fiance and I are scheduled to close our home loan on April 21. At this point my middle score is 639 but if I can raise it we can save about 200.00 per month with a lower interest rate. Apparentlly they said it has to be 640 to get that rate. So we were wondering if adding me onto his Capitol One account (low or no balance and great history of on time payments) would help us or hurt us since we are so close. Just nervous about making any move at this point! I do appreciate any advice and thank you all very very much. I wouldn't be here today if not for the knowledge I've gained from this community.

Anonymous · ‎03-28-2017

Without knowing your credit history, it will be hard to tell if that will help you. If I were in your shoes, I wouldn't be added as an AU. If you have some balances, pay them down.

But if you still insist, then tell us a bit more about your credit history thus, how old it is, how many cards, balances etc. and people will suggest best ways to get your scores up.

Pineknot69 · ‎03-28-2017

Hi, and thank you for your reply! I've decided to just pay down my cards some more after all. Thanks

Anonymous · ‎03-29-2017

That is exactly what I would do. The most reliable way to increase your scores is lowering your utilization or having a recent baddie removed. AU may work against you.

Anonymous · ‎03-30-2017

@Pineknot69 wrote:
Hi, and thank you for your reply! I've decided to just pay down my cards some more after all. Thanks

Good decision. That should pay off and help our scores a bit.