Authorized user question

[Anonymous]

I know the balance needs to be paid down that is not my question. My question is I got added as an authorized user on this card. Shouldnt it have increased my credit score or is that only if it is joint? When I click payment history I see nothing. Is that becuase I just got added I dont get the old history? Thanks for your time.

Account Name Account Number Date Opened Balance Date Reported Past Due Status Credit Limit BEST BUY/CBNA 
Hide Details   03/14/2011  $2,284    02/16/2016    PAYS AS AGREED $3,000    BEST BUY/CBNA

PO Box 6497
Sioux Falls, SD-571176497
 

Account Number: 700106235957XXXX  Status: PAYS AS AGREED  Account Owner: Authorized User  High Credit: $2,284   Type of Account : Revolving Credit Limit: $3,000   Term Duration:   Terms Frequency: Monthly (due every month)  Date Opened: 03/14/2011   Balance: $2,284   Date Reported: 02/16/2016  Amount Past Due:   Date of Last Payment: 06/2015  Actual Payment Amount:   Scheduled Payment Amount: $27   Date of Last Activity: 02/2016  Date Major Delinquency First Reported:   Months Reviewed: N/A  Creditor Classification:   Activity Designator: N/A  Charge Off Amount:   Deferred Payment Start Date:   Balloon Payment Amount:   Balloon Payment Date:   Date Closed:   Type of Loan: Charge Account  Date of First Delinquency: N/A Comments:   81-Month Payment History No 81-Month Payment Data available for display.

[Anonymous]

Yes normally the creditor reports the last 24 month payments as "OK". That might be kinda of spotty sometimes though.

However, regardless of the payment history, as long as the account shows opened date of the original card holder. Your AAoA should benefit. The authorized user approach calculates less than it use to. FICO's answer to authorized user abuse.

[Anonymous]

But shouldn't my credit of went up? nothing happend not higher or lower.

[Anonymous]

Does the account holder have your same last name? FICO8 score with not calulate the AU card if the user last name is different and perhaps if address is different. When you purchase a  report by FICO it will indicate that the AU account is not being calculated.

If the card is counting on your report. Consider the amount owed.

The AU account has over a $2000 balance on a $3000 limit.. Remember that amount owed will effect your score more than AAoA, unless the AU card is like 20 years old.

[Anonymous]

same last name same address the account is like 8 or 9 years old i think

[elim]

It will hurt your score with that high utilization. You won't know if it will help in any way until it is paid down... you will know then.

[Anonymous]

Agreed, see, what you need to do is calculate your AAoA without the AU card.

If you have five accounts that are five years old each, that would be 5 years AAoA

If you add a eight year card (AU), you only increase the AAoA to 5.5 years

It certainly would help, but in the above case you may only see a point or two or perhaps none, as it had little effect on increasing your AAoA

The high utilization on the card will overwelm what improvement it has on your AAoA. Remember that the dept reporting on the card is 30% while the length of credit history is 15%.

You could see a difference if say you had like $40,000 in total credit on all your cards and your utilization was 1% or 2% ($400 or $800). Then adding the AU wouldn't have to much effect utilization wise, putting you in the neiborhood of 6 or 7%. But you still would loss a few points with that increase. 

Hope that helps