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Have a question about authorized user accounts

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paop
Valued Member

Have a question about authorized user accounts

Hello,

 

I am trying to rebuild my credit as soon as posible, started working on deleting some collections that were'nt mine

 

I recently got a secured card too.

 

My question is: If i get some tradelines as authorized user, will that help my score?

 

thank you!


Starting Score: 407
Current Score: 547
Goal Score: 720


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Message 1 of 5
4 REPLIES 4
casmith1980
Established Contributor

Re: Have a question about authorized user accounts

I did this with a couple of my husband's positive accounts and it's actually helped mine.

 

Just make sure there is absolutely NO negative history on the accounts and that the utilization is roughly 10%.

Filed BK 12/5/14
341 meeting 1/9/15
Anticipated discharge 3/10/15

Goal: 700 by 3/2017
Message 2 of 5
MarineVietVet
Moderator Emeritus

Re: Have a question about authorized user accounts

 


@paop wrote:

Hello,

 

I am trying to rebuild my credit as soon as posible, started working on deleting some collections that were'nt mine

 

I recently got a secured card too.

 

My question is: If i get some tradelines as authorized user, will that help my score?

 

thank you!


 

Yes it can help you IF the account is older than any of yours, IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.

 

 

 

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

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Message 3 of 5
paop
Valued Member

Re: Have a question about authorized user accounts

Thank you very much!!!!Smiley Wink


Starting Score: 407
Current Score: 547
Goal Score: 720


Take the FICO Fitness Challenge

Message 4 of 5
Anonymous
Not applicable

Re: Have a question about authorized user accounts

As I am continuing to  clean up and repair my credit, my  mother has been kind enough to make me an authorized user on two of her accounts. RadioShack and Lowes. Both are very old with low balances and pristine histories. Radioshack was added three weeks ago,today (4/1) it posted on my credit report and raised my score 23 points. I'm on my way  back,slowly but surely. 

Message 5 of 5
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