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Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

How does Authorized User Impacts FICO

I am currently working to build a fair credit rating into an Excellent one... I have recently been added to two 14 year old CC (from a realative) both accounts with CL north of $15k and $0 balances. I am curious about whether or not this will help me to increase my FICO score.
 
Any input would be helpful.
 
Take Care.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: How does Authorized User Impacts FICO

Absolutely!
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

Re: How does Authorized User Impacts FICO

What impact does it have on my overall revolving debt to available credit limts? Or does it at all? Does the FICO calculate differently when the accounts are not mine primarily?
 
Thanks.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: How does Authorized User Impacts FICO



Tuscani wrote:
Absolutely!



Its legal I know that but I can't imagine FICO would allow this kind of stuff to go on. Think about it. You are buying someone else's good credit. How does that prove that the creditor is creditworthy? Its a failure of the system.
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

Re: How does Authorized User Impacts FICO

^^^ Not sure what you mean. I haven't bought anything.... My question was does FICO take into consideration that I am an authorized user or do they calculate as if it were my account primarily.
 
Take Care.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: How does Authorized User Impacts FICO

[ Edited ]
Not a failure in the system. ALl the AUs in world still won't help you if you have enough derogs.
 
OP, yes the account show up just like your own. You get the history and the util. Just remember, with the good comes the bad. So make sure the person adding you is responsible.


Message Edited by Tuscani on 05-09-2007 04:46 PM
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

Re: How does Authorized User Impacts FICO

Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: How does Authorized User Impacts FICO

My son's gf is 19 and due to this practice she has a FICO score over 800. Whether you paid or not is not the question. FICO score is supposed to grade YOUR credit not someone else. If you can do it by all means then go for it but in my mind it is most certainly a flaw in the scoring system.
Established Contributor
FICO_Focused
Posts: 905
Registered: ‎05-09-2007

Re: How does Authorized User Impacts FICO

I just thought it was a way for my Wife to help me build a good credit rating...
 
Sorry for upsetting you. Your sons significant other probably regrets sharing her FICO with you (based on your opinion.) I guess she had to learn the lesson from someone... She shouldn't share her political affiliations either.
 
Thanks for the replies.
 
Take Care.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: How does Authorized User Impacts FICO



FICO_Focused wrote:
I just thought it was a way for my Wife to help me build a good credit rating...
Sorry for upsetting you. Your sons significant other probably regrets sharing her FICO with you (based on your opinion.) I guess she had to learn the lesson from someone... She shouldn't share her political affiliations either.
Thanks for the replies.
Take Care.



Don't get the wrong impression. I'm not upset I just think it is a flaw in the scoring system. If it will help you guys out then by all means do it. Best of luck to you.

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