addding father in law as authorized user

[Anonymous]

here is the story 

my father in law has no credit at all he is 50 and has always paid for all his bills in cash, doesn't have a credit card (not even a secured one), or anything else that report's to the credit beraus. he is looking to buy a car but unfortunatly can afford to pay cash for it. so i was wondering if i add him as an authorized usser for one of my accounts (AoA 15 months, never late never over the limit 0% utilization). will that benefit his credit or it wont have any impact at all?

[cassett]

Im sure it would benifit him. Especially if he just has limited credit file and no derogatorys.

I think it would take a few more accounts for him to get to where he needs to be for an auto loan though. 

[gdale6]

It should help him get started with revolving CCs, he is going to want 3 bankcards of his own, so as soon as your account is reporting I would try first to get 2 unsecured cards from Cap-1, with no derogs on file he has a good chance of being approved and if not then the secured card route would be the way to go.

[ezdriver]

Don't do it. Help him build his own credit profile. If he wants credit to finance a car then he should be doing what it takes to qualify for credit ... else buy a car for whatever cash he has available.