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Authorized User increase Score ?

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DavenTenorio
Established Member

Authorized User increase Score ?

I have been added to a Merrill Lynch card account holder as an AU.  the account has been established for 8-9 years, never late, and the utilization is below 10%. this i assume would help me signicantly because the 2 accounts that i have are new (less than a year).  i have paid on time but my balances were almost maxed out until i paid them down to $0 this week. 

 

im wondering if it is true that being added as an AU will help your utilization and the lenght of time the account has been open? Do these companies automatically report on your credit report or is this something that you have to ask to have done?

Message 1 of 12
11 REPLIES 11
guiness56
Epic Contributor

Re: Authorized User increase Score ?

In your situation it sounds like the CC would help you.

 

If the CCC reports AUs to the CRA, and not all do, it will be done automatically and you shouldn't need to do anything.

 

Keep in mind that when you become an AU you inherit everything about the account except the responsibility to pay.  So if they are late, you are late.

Message 2 of 12
DavenTenorio
Established Member

Re: Authorized User increase Score ?

thanks. How do I find out if "Merrill Lynch" reports AUs to the CRAs?

Message 3 of 12
MarineVietVet
Moderator Emeritus

Re: Authorized User increase Score ?


@DavenTenorio wrote:

thanks. How do I find out if "Merrill Lynch" reports AUs to the CRAs?


The easiest way is to call and ask them. And hope the CSR you talk to gives you the correct information.  Smiley Happy

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 4 of 12
Anonymous
Not applicable

Re: Authorized User increase Score ?

The Au will definitely help you but like the prior person said you need make sure that Merrill reports.  Sometimes the non major credit card companies will only report negative times.  You can call like the prior person said. If you don't get a straight answer, which you probably won't.  Have the person who added you to the acct check his report so if its been reporting.   You can do it for free at annualcreditreport.com to check the report.  It doesn't monitor the credit like this site but atleast you have your answer. If its showed up on his or hers then it will eventually show up on yours.   

Message 5 of 12
DavenTenorio
Established Member

Re: Authorized User increase Score ?

thanks,

 

i called Merrill Lynch and as a generalized questioin spoke with 2 different ppl who explained to me not only that the DO REPORT, but HOW they report as well.  I was a bit leary because i only had to give my name to be added, but they informed me they look at matching information from the cardholder ie: address, names, etc.

 

i see that utilization makes up 35% of your score. I know patience is virtue here, but im curious to know if anyone has an idea on how much of an increase should be expected.

 

I paid off 2 ccards 1) $500 limit / $472 Original balance  paid down to $0   2) $400 limit / $172 balance  paid down to $0

 

then just added as AU on $14,000 limit / $1,000 balance never been late and 7 year  length of account

 

Message 6 of 12
Anonymous
Not applicable

Re: Authorized User increase Score ?

 


@DavenTenorio wrote:

thanks,

 

i called Merrill Lynch and as a generalized questioin spoke with 2 different ppl who explained to me not only that the DO REPORT, but HOW they report as well.  I was a bit leary because i only had to give my name to be added, but they informed me they look at matching information from the cardholder ie: address, names, etc.

 

i see that utilization makes up 35% of your score. I know patience is virtue here, but im curious to know if anyone has an idea on how much of an increase should be expected.

 

I paid off 2 ccards 1) $500 limit / $472 Original balance  paid down to $0   2) $400 limit / $172 balance  paid down to $0

 

then just added as AU on $14,000 limit / $1,000 balance never been late and 7 year  length of account

 


 

Hard to give a answer for certain because no one really knows. However it is impossible to even guess without knowing what your score was to begin with.

Message 7 of 12
DavenTenorio
Established Member

Re: Authorized User increase Score ?

Good point.

 

I know that my score was 590

 

PRIOR to having a public record from 2005 (cvil judgement auto) DELETED.

 

I checked my CS the next day and the score had not increased at all.

 

Now that I have paid off these balances in full, and have been added as AU, i dont know what to expect.  I assumed a major increase, but after reading, it seems unpredictable

Message 8 of 12
Anonymous
Not applicable

Re: Authorized User increase Score ?

 


@DavenTenorio wrote:

Good point.

 

I know that my score was 590

 

PRIOR to having a public record from 2005 (cvil judgement auto) DELETED.

 

I checked my CS the next day and the score had not increased at all.

 

Now that I have paid off these balances in full, and have been added as AU, i dont know what to expect.  I assumed a major increase, but after reading, it seems unpredictable


Providing you now have absolutely no baddies on your report and based off your info provided I will go 625-675. Just a GUESS though. You try the FICO estimator yet? Let us know what the FICO score comes out to be when you get it please!

 

Message 9 of 12
DavenTenorio
Established Member

Re: Authorized User increase Score ?

will do.

 

As far as any other negative information, i do still have a collection account from 2007 for $99. i havent bothered to do anything YET because im not sure its going to positvely affect my score.  

Message 10 of 12
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