Reply
Established Member
Posts: 17
Registered: ‎05-12-2012
0

Authorized User?

So I am trying to figure out how it works when you make someone an authorized user on your CC? My husband has no credit (nothing bad just never had a CC), so he is having a very hard time trying to get a CC now. By making him an authorized user on some of my accounts, am I building any kind of credit for him? Or should I try and get a joint account with him? The only thing on his credit report, are 2 (joint) car loans, 1 paid in full, the other no missed payments, and a (joint) personal loan, also with no missed or late payments. Is there anything I can do to help build his credit?

We would like to purchase a house next year, and I am hoping to get his credit score up a bit before we apply for a mortgage. Any Suggestions??


Starting Score: 670
Current Score: 709
Goal Score: 800


Take the FICO Fitness Challenge

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

Re: Authorized User?

Yes, an AU account will help your husband out as long as it is a positive account (no lates, etc.).

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
0

Re: Authorized User?

[ Edited ]

AU accounts appear on his reports depending on the card issuer, but most do report AU accounts.  It will give him a credit score after a few months of reporting, but the accounts are labeled as Authorized User accounts on the reports, so some lenders exlude these when considering whether to issue credit.  

 

My wife was in a similar situation as she is a foreign national.  I have established great credit for her by making her an authorized user on a few cards and opening one card as a joint account.  The joint account is important because it is actually a line of credit for which she legally has responsibility.  Having her open a secured card or apply for a subprime card would have had the same effect, but I didn't want to do it that way.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Established Member
Posts: 17
Registered: ‎05-12-2012
0

Re: Authorized User?

I made him an AU on 2 of my accounts now, and we opened a joint AmEx card through USAA. Thanks for the feedback :smileyhappy:


Starting Score: 670
Current Score: 709
Goal Score: 800


Take the FICO Fitness Challenge

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.