Fast Track to Re-Building Credit as an authorized user.

[Anonymous]

Firstly, there is no such thing as fast with credit. Years of good payment history can be blemished with one recent thirty day late to a computer when applying for credit. Computers like to see lots of other unused credit when determining whether or not to issue new credit. Also, establishing online access to each of your online credit reports is free and absolutely essential to removing unverifiable and aged information. The only way to truly improve your credit is to establish new and UNUSED credit so that it will be easier to maintain good credit history if you don't have any money. The best way to establish credit is to NEVER ever EVER use it. If you continue to make inquiries but that is the only negative and also open several secured accounts, within six to twelve months nearly every credit card issuer in the united states will spot you $500. With all this said, if you were to be allowed as an authorized user on a few large accounts that credit history is always reporting as well and could be considered "fast" with respect to establishing new credit without much income. Edited. It never ends and you should not place any limit on that success. Edited. If you are a user in life its a lie. if you are a producer in a bad spot its just an answer you know will receive a yes. That is for you and God to decide. anyway hope this rant helped somebody. im out.

[S7]

Your opinion, everyone has one. You do not know everyone situations, so you cannot judge anyone.

[Shogun]

     Hard to follow that post.  But I think I got the point of it.  However I will say that everyone's situation is different.  Generally people on here are adults, understanding adults that realize the mistakes they have made in the past and are now trying to rectify those mistakes and not make them again.

     You are correct that there is no fast fix, if there was there would be no reason to be responsible in the first place, but things in life don't go by the rules.  We live, we learn, we stumble, we fall, we pick ourselves back up, brush ourselves off and get on with it.

     That's just my 2 cents worth on the subject.  Oh, and one more thing...    Paragraphs!   Good Luck!!!!

[AZHeather]

Not sure of the point of the rant, but I would have to agree with the previous posts in that there is no "one size fits all" in the world of credit.  I have seen some succeed following a particular formula, only for another to fail doing the same thing. 

We all have different histories in regards to our credit.  Some are starting, some are rebuilding from the ground up, some are rebuilding from a stumble or two, and some are just maintaining.  One thing that is pretty consistant on this forum is that we are all striving to learn new and better ways to manage our credit.  Everyone has to find what works for them and that is the beauty of this forum - learning new things to find what does work for each of us individually.  One way to figure out what works for you is to read, ask questions, and keep an open mind.

[llecs]

AU accounts are a good starter, but you wouldn't want to rely on them. Some lenders have been known deny loans if there are too many AU accounts reporting. While FICO scores them as if they are yours, lenders often sometimes see it differently. YMMV on the lender.

You would also want to use any CCs you have now. Whether you use it or not, FICO will still score it, but some CC-issuers will close an account after you don't use them for a while. Also, if the CC stops updating, FICO will stop scoring aspects of it like the balance and CL and that can hurt your score if you keep balances on your other CCs. Use the card every 3-4 months to keep it open and active. FICO likes $0 balances on most of your accounts so if you use it, you can always PIF and keep it active that way.

[Anonymous]

Thank you for your many replies. There is no point to my rant simply pointing out my opinion. I did not mean to suggest the formula defined was absolute or applicable in every situation, however, I believe "llecs" reply finished everything I would have added to be concise.