01-25-2017 01:12 PM
My girlfriend and I moved in together about 4 months ago and we are looking into purchasing a home in the near future. I have FICOs between 750-770 depending on the bureau and she is in the 690s with very, very limited credit history. She has two cards--- one through a local credit union, and a new CapOne Platinum. She was denied when she applied for a Discover It today.
I have the option to add her as an AU for my Amex Everyday. I never carry a balance on it, and I use it for maybe one purchase/month. Is there any reason NOT to add her as an authorized user? We have been together 4+ years, she has good spending habits (i.e. I'm not concerned with her running up a huge balance)--- more than likely she wouldn't even carry/use the card.
01-25-2017 07:48 PM
Adding her as an AU will certainly help her scores over time. You are legally responsible for her spending, so thats a con. If you have the card, then any concerns over spending are elminated. If she does get the card, you can always have text alerts sent when the card is used. That way there is total disclosure.
01-26-2017 02:02 PM
Thank you for your thoughtful response!
01-26-2017 02:37 PM
I would put her on both AMEX and DCVR but with that said when they send the cards out, just put them in your safe and let her enjoy the extra padding on her report. With two cards of her own, no need for her to have those. Good luck!
01-27-2017 07:11 AM
The only reason I wasn't going to put her on the Discover is that I'm currently paying down a balance transfer w/ around $2,000 left. $2,000 against the $31k limit is only around 6-7% utilization, but I figured it would look better on her if she didn't have the balance reporting. Don't want to do more harm than good!
01-28-2017 04:52 AM
Amex is a smart AU financially (unless they changed that, utterly seperate account number) but it's a crappy one for FICO: you don't get the history last I checked.
Should check that over on the CC board, but Amex in the post backdating world isn't a good choice for this.
02-02-2017 05:07 AM - edited 02-02-2017 05:09 AM
I was added an as AU on an AmEx Everyday two weeks ago. We got the card in the mail, shoved it in a drawer, and two days ago my FICO updated with the new account details.
Alert: A new account has been added to your credit report
Open Date: 01/2017
No historical tradeline information, only as of 01/2017
It reported but there is NO history associated with it. AmEx ED will show as a new account with the current balance details but (obviously) no inquiry associated with it. Also FYI, the utilization ($0/13k balance on the AmEx) was not calculated into my overall utilization on myFICO since it is an AU account.
It is a 6-year-old card and my score only jumped up 8 points because AmEx does not update the history to AU accounts, at least not anymore.
02-03-2017 03:44 AM
You can add her to your amex everyday card as an authorized user or you can add her to the card that you have had the longest and that way she will have a longer credit history since she will asume your history.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.