Valued Contributor
my-own-fico
Posts: 1,232
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.

Reported credit card debt EQ $0 TU $0 EX $0