Valued Contributor
my-own-fico
Posts: 1,303
Registered: ‎01-05-2010
Re: Authorized Users and Credit Scoring?

devon22ou wrote:

 

I have considered doing this solely to help their credit score. 

 

Would this be a good idea or a bad idea?


 

I think it's a bad idea for you to add someone as an authorized user on one of your cards solely to help their credit score. It's taking advantage of a loophole, and it's not much different from humans feeding wild animals. There's one exception, which is the authorized user being a spouse in a household of joint income. That's just my take on it, but a potential lender may notice all of this when looking into the person's financial background. I'm sorry I can't be any nicer about this!

Would you mind if I ask where you have obtained the three scores in your signature? As myFICO doesn't offer EX, it could be they are not all FICO scores.

Are you living within your means?