Reply
Regular Contributor
wednesdayaddamsd
Posts: 152
Registered: ‎04-01-2010
0

Authorized User

Has anyone had any experience with adding an authorized user? My sister is going to add me to her $20K capital one credit card. Do they report authorized users? If yes, do they report the credit limit for authorized users?

 

Has anyone been added as an authorized user after chapter 7, and do they remember how much it impacted the three burueas and their credit scores? Thanks!

 

One more question, is having more credit cards better than just having one?

 

Thank you!

Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Authorized User

Being an AU will only help you if the card is older than your oldest account, has a low balance and is pristine with no lates.

 

Not all CCC add AUs to your CR.  You would need to call and ask them first.

 

The more revolving you have the better it will help if you keep the utilization down.  That counts for 30% of your score.

Moderator
MarineVietVet
Posts: 14,958
Registered: ‎07-14-2009
0

Re: Authorized User

[ Edited ]

 


wednesdayaddamsd wrote:

Has anyone had any experience with adding an authorized user? My sister is going to add me to her $20K capital one credit card. Do they report authorized users? If yes, do they report the credit limit for authorized users?  In my experience Cap 1 reports both AU's and CL's.

 

Has anyone been added as an authorized user after chapter 7, and do they remember how much it impacted the three burueas and their credit scores? Thanks!

 

One more question, is having more credit cards better than just having one?

 

Thank you!


 

New Contributor
DiggingOut1
Posts: 92
Registered: ‎04-30-2010
0

Re: Authorized User


marinevietvet wrote:

 


wednesdayaddamsd wrote:

Has anyone had any experience with adding an authorized user? My score shot up over 80 points when added to a Bank of America Visa with $10,800 limit/200 balance/8 years old.  My sister is going to add me to her $20K capital one credit card. Do they report authorized users? If yes, do they report the credit limit for authorized users? 

 

Has anyone been added as an authorized user after chapter 7, and do they remember how much it impacted the three burueas and their credit scores? Thanks!

 

One more question, is having more credit cards better than just having one?

 

Thank you!


 


 


Starting Score: EQ 490 EX 516 TU 492
Current Score: EQ 628 EX 626 TU 668
Goal Score: at least 700, across the board!


Take the FICO Fitness Challenge
Regular Contributor
wednesdayaddamsd
Posts: 152
Registered: ‎04-01-2010
0

Re: Authorized User

Thank you for the responses, everyone. 80 points is a SWEET increase! Hope I could even get half that. :smileysurprised:)

New Member
Rdoactv
Posts: 1
Registered: ‎09-14-2010
0

Re: Authorized User

I was put on as an authorized user on 2 cards during an emergency situation. I never made any charges. However, I have had no contact with this person in over 2 years and she is destroying my FICO. I have requested she have me removed, write to the company...I called the company and they want a letter from her. Needless to say, she has not had me removed. I have disputed the cards on my CR (being investigated), and it dropped by 5 points again today because she added another $33 to her account. Whatever you decide, proceed with caution as an AU.


Starting Score: 599
Current Score: 603
Goal Score: 650


Take the FICO Fitness Challenge

Community Leader
Senior Contributor
laz98
Posts: 4,336
Registered: ‎09-06-2008
0

Re: Authorized User

 


Rdoactv wrote:

I was put on as an authorized user on 2 cards during an emergency situation. I never made any charges. However, I have had no contact with this person in over 2 years and she is destroying my FICO. I have requested she have me removed, write to the company...I called the company and they want a letter from her. Needless to say, she has not had me removed. I have disputed the cards on my CR (being investigated), and it dropped by 5 points again today because she added another $33 to her account. Whatever you decide, proceed with caution as an AU.


is this the first time you dispute them?  usually they come right off.  key word there is "usually", unfortunately :smileysad:

 

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Mega Contributor
RobertEG
Posts: 18,519
Registered: ‎03-19-2007
0

Re: Authorized User

I would suggest playing hardball with the account holder.

I would send them a certified letter, requesting that they immediately contact their credtitor, and delete you as an authorized user under their account.

Inform them that their actions on their account have led to derogattory reportings to your credit file for which you have no  responsibility.

If you want to really play hard ball, remind them that you have no legal responsibility as an authorized user to repay any debt they may accrue, and that their avoidance of deleteion of your AU status is causing real harm to your credit report and score.

 

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}