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authorized user

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Anonymous
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authorized user

quick question wife and i have been rebuilding, im an AU on 2 of here credit cards, i have none of my own, we pay our bills together etc, do mortgage companies shun on AU's or should i be fine ?

Message 1 of 9
8 REPLIES 8
cartwrna
Valued Contributor

Re: authorized user

I believe if it is a spouse, and you pay the bill you are ok. I read that in the Fannie Mae lender guide.
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 2 of 9
Anonymous
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Re: authorized user

just got 2 of my own to be sure 

Message 3 of 9
cartwrna
Valued Contributor

Re: authorized user

It's always best to have your own anyhow, just use them wisely Smiley Happy
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 4 of 9
cartwrna
Valued Contributor

Re: authorized user

Although, hopefully your not going for a mortgage loan soon. Mortgage lenders don't like to see new credit prior to a mortgage application, especially credit cards. It's best to have no new credit/inquiries for 6 months prior to mortgage application.
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 5 of 9
Anonymous
Not applicable

Re: authorized user

we got into some credit card trouble about 4 yrs ago and ended up struggling to pay them all off and never got another one theory was if i cant pay cash i dont need it well never thinking about credit score, and you know how the rest goes aka rebuilding 

Message 6 of 9
Anonymous
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Re: authorized user


@cartwrna wrote:
Although, hopefully your not going for a mortgage loan soon. Mortgage lenders don't like to see new credit prior to a mortgage application, especially credit cards. It's best to have no new credit/inquiries for 6 months prior to mortgage application.

nothing until july or august why i asked now

 

and we only have 2 cards ea nothing extravagant 

Message 7 of 9
cartwrna
Valued Contributor

Re: authorized user

I have around 10 cards, 2 is swell. 3 revolvers seems to be what FICO likes to see though.
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 8 of 9
Anonymous
Not applicable

Re: authorized user

i have a 3rd revolving account thanks 

Message 9 of 9
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