Authorized User Detail Question

[ericestes2]

I have been out of college for a year and have been building my credit since then. I have been an authorized user on my father's Chase card since 2006. However, I just found out this has not been reported to credit agencies, and I will be getting with Chase tomorrow about this.

My question is if Chase starts reporting this now, will it appear as a new account or will it show as an older account? Since this is technicaly 8 years old it would be very nice to have this give me an older credit history. My only knock now is that my oldest account is only 13 months old.

About the account:

He has a 15,000 limit and the past month has 1,500 utilization.

About me:

751 Experian with one secured card $600 limit and short credit history.

Any help/advice is greatly appreciated.

[Lechte]

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@ericestes2 wrote:

I have been out of college for a year and have been building my credit since then. I have been an authorized user on my father's Chase card since 2006. However, I just found out this has not been reported to credit agencies, and I will be getting with Chase tomorrow about this.

My question is if Chase starts reporting this now, will it appear as a new account or will it show as an older account? Since this is technicaly 8 years old it would be very nice to have this give me an older credit history. My only knock now is that my oldest account is only 13 months old.

About the account:

He has a 15,000 limit and the past month has 1,500 utilization.

About me:

751 Experian with one secured card $600 limit and short credit history.

Any help/advice is greatly appreciated.

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It will show all history dating back when the CC was first opened.   Take note, that you may not receive the benefits of that account on 08 FICO models.   08 models still count AU accounts, but it's more strict than the previous scoring models.   I'm an AU on my dad's CC and neither EX08 or EQ08 factor that account into my scoring....could be a YMMV thing, because others have stated differently than my experience.

[ericestes2]

Thank you for your answer, and please forgive me if the following questions seem basic. When you say "you may not recieve benefits"  you mean it may not calculate into my scoring? Also, can you give a basic explaination of  08 FICO models, or FICO models in general, for someone new to all of this? 

I have read that some credit card companies do not report AU accounts to agencies, however Chase does per internet search. I talked to someone in Chase customer service yesterday, Sat, and he told me that I will need to get with Chase credit specialty division on Monday. I will report back with what I find.

Thank you for your help. 

[myjourney]

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@ericestes2 wrote:

Thank you for your answer, and please forgive me if the following questions seem basic. When you say "you may not recieve benefits"  you mean it may not calculate into my scoring? Also, can you give a basic explaination of  08 FICO models, or FICO models in general, for someone new to all of this? 

I have read that some credit card companies do not report AU accounts to agencies, however Chase does per internet search. I talked to someone in Chase customer service yesterday, Sat, and he told me that I will need to get with Chase credit specialty division on Monday. I will report back with what I find.

Thank you for your help. 

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Welcome to the forum ericestes2

All the major lending banks will report AU's However not all will factor into the approval process....and guess what Chase does not factor AU acoounts into consideration for approvals 

Some helping info 

http://www.myfico.com/CreditEducation/articles/

[ericestes2]

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Welcome to the forum ericestes2

All the major lending banks will report AU's However not all will factor into the approval process....and guess what Chase does not factor AU acoounts into consideration for approvals 

Some helping info 

http://www.myfico.com/CreditEducation/articles/

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Well just my luck. Looks like no use piggybacking for me!

Thank you.

[Revelate]

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@ericestes2 wrote:

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Welcome to the forum ericestes2

All the major lending banks will report AU's However not all will factor into the approval process....and guess what Chase does not factor AU acoounts into consideration for approvals 

Some helping info 

http://www.myfico.com/CreditEducation/articles/

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Well just my luck. Looks like no use piggybacking for me!

Thank you.

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Assuming it's a positive tradeline as you suggest and is moderatly low in utilization, it may help, but won't hurt.

If I had the ability to piggyback a tradeline from my own father I would, but his own revolving history is even shorter than mine.

[Lechte]

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@ericestes2 wrote:

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Welcome to the forum ericestes2

All the major lending banks will report AU's However not all will factor into the approval process....and guess what Chase does not factor AU acoounts into consideration for approvals 

Some helping info 

http://www.myfico.com/CreditEducation/articles/

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Well just my luck. Looks like no use piggybacking for me!

Thank you.

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What mj is saying is Chase will report your AU, but if you apply for a CC or any other type of credit with Chase, they won't recognize that AU account.....doesn't mean other banks you apply with won't recognize it.   Also, remember that my experience may not be your experience...your AU account may very well factor into 08's scoring...also, I believe as of right now, just a few lenders are using the 08 model.    Like Revelate said....it may not benefit, but it won't hurt your score either....that is, if your dad's CC remains in a good standing position.

[Vegas4Play]

I'm currently testing how authorized users are reported. I am not a subscriber of scorewatch, but I pay for my credit reports every couple months here on myfico, and use free services inbetween then. I noticed that as of last month only 2 of my authorized user accounts are listed on my experian and equifax reports ( I have 7 AU accounts in total - added amex last week so soon to be 8 when it reports) all seven report on transunion. ONLY 2  report on experian and equifax ( and transunion with the other 5) with balance and payment history are usbank ( mom) and capital one( Sister ) we DO NOT have the same address, never  lived at the same address. I just got added to these account this year. The only thing I can figure thus far is these two accounts requested my social to be added as AU. Chase, Cit, Discover, and Barclay did not. I just got added to an amex card this past weekend( they asked for social). I'm waiting for the card to arrive. 1.) to check to see if when I sign in to online services it will list my member since date as 1988 ( first time I had an amex that closed on good terms) and 2.) when it reports will it report to all three TU, EX, EQ or just TU and what open date it will have.

My aaoa of ex, and eq have factored in all 7 AU accounts, but not the balance/util. so is seems they are giving me credit for aaoa only nothing else.

Would anyone care to share their experiences as being added as an AU - IF THEY GAVE THEIR SOCIAL and account being reported on your credit bureau if you did.

[09Lexie]

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@Vegas4Play wrote:

I'm currently testing how authorized users are reported. I am not a subscriber of scorewatch, but I pay for my credit reports every couple months here on myfico, and use free services inbetween then. I noticed that as of last month only 2 of my authorized user accounts are listed on my experian and equifax reports ( I have 7 AU accounts in total - added amex last week so soon to be 8 when it reports) all seven report on transunion. ONLY 2  report on experian and equifax ( and transunion with the other 5) with balance and payment history are usbank ( mom) and capital one( Sister ) we DO NOT have the same address, never  lived at the same address. I just got added to these account this year. The only thing I can figure thus far is these two accounts requested my social to be added as AU. Chase, Cit, Discover, and Barclay did not. I just got added to an amex card this past weekend( they asked for social). I'm waiting for the card to arrive. 1.) to check to see if when I sign in to online services it will list my member since date as 1988 ( first time I had an amex that closed on good terms) and 2.) when it reports will it report to all three TU, EX, EQ or just TU and what open date it will have.

My aaoa of ex, and eq have factored in all 7 AU accounts, but not the balance/util. so is seems they are giving me credit for aaoa only nothing else.

Would anyone care to share their experiences as being added as an AU - IF THEY GAVE THEIR SOCIAL and account being reported on your credit bureau if you did.

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@Vegas4Play wrote:

I'm currently testing how authorized users are reported. I am not a subscriber of scorewatch, but I pay for my credit reports every couple months here on myfico, and use free services inbetween then. I noticed that as of last month only 2 of my authorized user accounts are listed on my experian and equifax reports ( I have 7 AU accounts in total - added amex last week so soon to be 8 when it reports) all seven report on transunion. ONLY 2  report on experian and equifax ( and transunion with the other 5) with balance and payment history are usbank ( mom) and capital one( Sister ) we DO NOT have the same address, never  lived at the same address. I just got added to these account this year. The only thing I can figure thus far is these two accounts requested my social to be added as AU. Chase, Cit, Discover, and Barclay did not. I just got added to an amex card this past weekend( they asked for social). I'm waiting for the card to arrive. 1.) to check to see if when I sign in to online services it will list my member since date as 1988 ( first time I had an amex that closed on good terms) and 2.) when it reports will it report to all three TU, EX, EQ or just TU and what open date it will have.

My aaoa of ex, and eq have factored in all 7 AU accounts, but not the balance/util. so is seems they are giving me credit for aaoa only nothing else.

Would anyone care to share their experiences as being added as an AU - IF THEY GAVE THEIR SOCIAL and account being reported on your credit bureau if you did.

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Ive been an AU on my DH's Chase, Discover, GECRB accounts and they report on all 3.  None asked for my SSN   

[ericestes2]

Update

Spoke with Chase today and it is apparently not being reported because all that was on the card was my name. No SS. He told me that if I fax in my ID and SS then he would add it to the account and see if that will work.

When I asked if it would be a good idea to have this card show on report, I was told to be careful of how this would impact my debt to equity ratio. So with that being said would it be in my best interest to do this? 60k income and the card has a 17k limit. So according to him that would put me in 17k debt?