topic Re: Should Spouse Be Authorized User on All Accounts? in Credit Cards

Should Spouse Be Authorized User on All Accounts?

samtom79 — Fri, 23 Jan 2015 05:53:50 GMT

Wife has 7 credit cards and I've got 9. A couple of the cards are same like Target store card and CapOne QS. Currently all cards are individual accounts but should we each be authorized users on each others cards? I only thought of this because I have some ground to gain in the total on time payments category due to credit neglect a few years back. I have a couple cards with larger balance which would help her lower utilization. Thoughts?

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 06:00:22 GMT

If utilization is an issue with her scores and your cards will significantly raise that it might help but generally when you each have that many of your own cards being AUs on each other's means very little.

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 06:08:31 GMT

@Anonymous wrote:
If utilization is an issue with her scores and your cards will significantly raise that it might help but generally when you each have that many of your own cards being AUs on each other's means very little.

And adding as AU can create lots of "new" accounts on your CR which can impact score.

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 06:16:55 GMT

@Anonymous wrote:
@Anonymous wrote:
If utilization is an issue with her scores and your cards will significantly raise that it might help but generally when you each have that many of your own cards being AUs on each other's means very little.
And adding as AU can create lots of "new" accounts on your CR which can impact score.

Very true. Good point.

Re: Should Spouse Be Authorized User on All Accounts?

Revelate — Fri, 23 Jan 2015 07:09:36 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
If utilization is an issue with her scores and your cards will significantly raise that it might help but generally when you each have that many of your own cards being AUs on each other's means very little.
And adding as AU can create lots of "new" accounts on your CR which can impact score.
Very true. Good point.

Other than Amex with their ACM's, who does this?

Re: Should Spouse Be Authorized User on All Accounts?

pizza1 — Fri, 23 Jan 2015 07:28:51 GMT

No. For Gods sake you go to the bathroom in front of each other, finish each others sentences, etc... That's enough lol. You should have some independence from each other. Teasing

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 07:28:26 GMT

@pizza1 wrote:
No. For Gods sake you go to the bathroom in front of each other, finish each others sentences, etc... That's enough lol. You should have some independence from each other

True.

I think it depends on who handles the finances too.

I'm an AU on 80% of the wife's cards. She's an AU on 50% of mine (I didn't want all those new accounts bringing down her AAoA since her AMEX MSD is younger than mine)

Re: Should Spouse Be Authorized User on All Accounts?

pizza1 — Fri, 23 Jan 2015 07:33:26 GMT

Good point Nixon!!

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 10:18:07 GMT

@Anonymous wrote:
@pizza1 wrote:
No. For Gods sake you go to the bathroom in front of each other, finish each others sentences, etc... That's enough lol. You should have some independence from each other
True.
I think it depends on who handles the finances too.

I'm an AU on 80% of the wife's cards. She's an AU on 50% of mine (I didn't want all those new accounts bringing down her AAoA since her AMEX MSD is younger than mine)

I think everyone will be so enthusiastic about credit after exposing to it, but after a while shouln''t be so paranoid about "AAoA went down", "utilization went up", etc.

I used to worried about AAoA and getting new credit cards and etc, but now I'm like "whatever, who cares"

Re: Should Spouse Be Authorized User on All Accounts?

disdreamin — Fri, 23 Jan 2015 11:01:31 GMT

I don't think being AU on SO's accounts is necessary. I have my SO on two of my accounts, but not the others. I'm not on any as an AU. Works just fine.

Re: Should Spouse Be Authorized User on All Accounts?

newhis — Fri, 23 Jan 2015 14:22:27 GMT

I got my DW add me on her BofA and CSP both at $5,000, I didn't want her to add me in her Discover at $500. I added her to my Discover and PRG, not the others.

My thinking was, to show higher limits in my CR and her can use my Discover to not use that much her's to not get high utilization and lock the MSD with Amex. I don't see other benefit being AU in other cards.

You should seek a benefit being an AU, if there is no benefit for both or at least a good benefit for one, then don't do it.

Re: Should Spouse Be Authorized User on All Accounts?

takeshi74 — Fri, 23 Jan 2015 14:35:57 GMT

@samtom79 wrote:
Should Spouse Be Authorized User on All Accounts?

That's up to each couple to determine. Some do, some don't. My wife and I are AU's on certain cards based on our needs. We both buy gas so she's an AU on my PenFed PCR. We're AU's on each other's BCP's since our grocery spend exceeds the annual $6K limit. We don't see the need to be AU's on all accounts for each other. You might want to consider the impact to AAoA in doing so -- though some models and creditors don't consider accounts where one is an AU.

It's not a matter with a one-size-fits-all answer. Couples, situations, preferences, etc aren't all identical.

@samtom79 wrote:
I only thought of this because I have some ground to gain in the total on time payments category due to credit neglect a few years back. I have a couple cards with larger balance which would help her lower utilization. Thoughts?

All depends on whether or not the creditors you intend to apply with consider accounts where one is an AU. Neither of you will see any benefit if the creditor does not.

IMO you'd see more benefit from addressing your derogs. Hit the Rebuilding subforum and seeing what you can do. Your wife can reduce reported utilization by paying down balances prior to report date. Those changes will provide a postive benefit whether or not an potential creditor ignores accounts where either of you is an AU.

@Anonymous wrote:
I think everyone will be so enthusiastic about credit after exposing to it, but after a while shouln''t be so paranoid about "AAoA went down", "utilization went up", etc.

I used to worried about AAoA and getting new credit cards and etc, but now I'm like "whatever, who cares"

People vary. Some are never concerned. Some are like you and have concern that tapers. Some are always concerned. You can't assume that everyone else is like you. Again, each needs to decide based on their own specific situation, preferences, priorities, etc. I do keep AAoA and utilization in mind but I'm not "paranoid" about them. There are varying levels of concern as well.

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 15:19:13 GMT

@Revelate wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
If utilization is an issue with her scores and your cards will significantly raise that it might help but generally when you each have that many of your own cards being AUs on each other's means very little.
And adding as AU can create lots of "new" accounts on your CR which can impact score.
Very true. Good point.
Other than Amex with their ACM's, who does this?

Oh, my experience has been with Amex, but I thought most banks did this. My AU with Barclays etc shows on my account. Are you saying that don't have new dates?

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 15:55:48 GMT

No, to keep the peace should I decide to have an innocent lunch.

Re: Should Spouse Be Authorized User on All Accounts?

thelethargicage — Fri, 23 Jan 2015 17:39:36 GMT

I added my ex-wife as an AU on most of my old credit cards. Worst decision I ever made.

Re: Should Spouse Be Authorized User on All Accounts?

Anonymous — Fri, 23 Jan 2015 18:31:07 GMT

I guess it all depends on how good your relationship is with your wife. My first wife there was no way in hell I would have added her to my credit cards. She was horrible when it came to finances. My current wife is exceptional when it comes to handling finances. She has no need to be on any of my credit cards because all of hers have like 50k or more limits. What the hell would she need to be on my $750 dollar limit cards LOL.

Re: Should Spouse Be Authorized User on All Accounts?

Revelate — Fri, 23 Jan 2015 21:09:41 GMT

@Anonymous wrote:
@Revelate wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
If utilization is an issue with her scores and your cards will significantly raise that it might help but generally when you each have that many of your own cards being AUs on each other's means very little.
And adding as AU can create lots of "new" accounts on your CR which can impact score.
Very true. Good point.
Other than Amex with their ACM's, who does this?
Oh, my experience has been with Amex, but I thought most banks did this. My AU with Barclays etc shows on my account. Are you saying that don't have new dates?

Amex ACM's are a different animal in a number of ways, but in this case the important one is you get an entirely new account number and tradeline. That shows up as a brand new account, and ACM's are individually liable (to some extent at least unlike traditional AU's). This also prevents the tradeline abuse issues with AU's that the lenders hate.

The vast majority if not everyone else, just tacks on the the tradeline in all it's glory including the payment history and open date; usually people use AU's either to boost a credit report, or just for convenience / rewards sake.

I'm of the opinion that spouses should keep their credit files as isolated as possible: that way if something really financially bad happens you can sacrifice one spouse's credit report and still have access to all the benefits of the credit market with the other spouse (that'd be a good reason to use AU's at that point). From talking to various married folks though, this doesn't work as well in practice haha... and it's certainly not something I'm going to argue with my theoretical future spouse about in the event we actually debate credit management.

Re: Should Spouse Be Authorized User on All Accounts?

techiegirl — Sat, 24 Jan 2015 05:06:59 GMT

I added DH to my cc's years ago when his credit was bad and I had excellent credit. It boosted his credit and now his credit and mine are the same, so we each have our own cards.

Re: Should Spouse Be Authorized User on All Accounts?

red259 — Sat, 24 Jan 2015 05:35:24 GMT

@pizza1 wrote:
No. For Gods sake you go to the bathroom in front of each other, finish each others sentences, etc... That's enough lol. You should have some independence from each other. Teasing

This post just makes me want to rush right out and get married.