topic Re: Adding an authorized user in Credit Cards

Adding an authorized user

Anonymous — Thu, 29 Mar 2012 18:31:57 GMT

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

Re: Adding an authorized user

LS2982 — Thu, 29 Mar 2012 18:47:00 GMT

@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

Has nothing to do about the primary accountholders high credit score. It has everything to do with the balance on the account,how long it has been opened, and payment history.

There is nothing wrong with getting an AU account but its best not to abuse it with a bunch of them.

Re: Adding an authorized user

pizzadude — Thu, 29 Mar 2012 19:42:15 GMT

@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

FICO at one point considered dropping AU accounts but decided not to. They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

Re: Adding an authorized user

webhopper — Thu, 29 Mar 2012 20:29:10 GMT

@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

I added my DH as an AU on my Discover... gave him 13 yrs of spotless history for free and raised his score by 100 pts. He didn't borrow my score, he just borrowed my history on that account

Re: Adding an authorized user

Anonymous — Thu, 29 Mar 2012 20:37:08 GMT

@pizzadude wrote:
@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

FICO at one point considered dropping AU accounts but decided not to. They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

Hmmm, are you saying that AU possible poor history can be my history?

Re: Adding an authorized user

pizzadude — Thu, 29 Mar 2012 20:40:01 GMT

@Anonymous wrote:
@pizzadude wrote:
@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

FICO at one point considered dropping AU accounts but decided not to. They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.
Hmmm, are you saying that AU possible poor history can be my history?

Yep. When you are added as an AU, the payment history on the account becomes your history. So you wouldn't want to be an AU on any accounts with negatives such as late payments, or high utilization, etc....

Re: Adding an authorized user

SwiftTone — Thu, 29 Mar 2012 20:42:44 GMT

@webhopper wrote:
@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

I added my DH as an AU on my Discover... gave him 13 yrs of spotless history for free and raised his score by 100 pts. He didn't borrow my score, he just borrowed my history on that account

So on his CR, does it say when he was added as a AU? I'm just wondering if creditors can tell if he was added as a AU when the account opened, or much later.

Re: Adding an authorized user

Anonymous — Thu, 29 Mar 2012 22:17:07 GMT

@pizzadude wrote:
@Anonymous wrote:
@pizzadude wrote:
@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

FICO at one point considered dropping AU accounts but decided not to. They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.
Hmmm, are you saying that AU possible poor history can be my history?
Yep. When you are added as an AU, the payment history on the account becomes your history. So you wouldn't want to be an AU on any accounts with negatives such as late payments, or high utilization, etc....

Well, it would be the other way. A friend asked if they could be added as a AU to help raise their credit score. I don't know what their's is but mine is over 800. Wouldn't want to cause a drop in my own credit score.

Re: Adding an authorized user

LS2982 — Thu, 29 Mar 2012 22:23:42 GMT

@pizzadude wrote:
@Anonymous wrote:
@pizzadude wrote:
@Anonymous wrote:
I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score. I've read old posts around that this practice no long works or was to be stopped from happening soon. The later may have took place by now.

FICO at one point considered dropping AU accounts but decided not to. They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.
Hmmm, are you saying that AU possible poor history can be my history?
Yep. When you are added as an AU, the payment history on the account becomes your history. So you wouldn't want to be an AU on any accounts with negatives such as late payments, or high utilization, etc....

Re: Adding an authorized user

Creditaddict — Fri, 30 Mar 2012 00:25:06 GMT

I can't tell if everyone is on the same page with this one.

Lets say you have 800 Fico and a $10k line with bank z

You had a friend to your account because they have no credit or they have a 500 Fico. The account "Most of the time and with most banks" will start reporting to that persons credit that was added. You as the person with perfect credit will not be affected by the person you added to the account and their terrible credit unless you let them have a card and they max it out and you can't or don't want to pay!

Just don't give them a card... they won't be able to call in and order one without your info.

Re: Adding an authorized user

Anonymous — Fri, 30 Mar 2012 13:10:27 GMT

Just to find out what info they would request, I added the AU to my CitiCard account but I they'd receive no card and hve no online access. I hit "continue" and it's done with nothing else asked! I thought that maybe it didn't fo though but today their name shows up as an AU but it seems rather meaningless without needing to include a SS number and/or other info.

Re: Adding an authorized user

Anonymous — Fri, 30 Mar 2012 13:21:50 GMT

Several years ago, I added my college aged daughter as an authorized user on one of my credit cards. I did request a card for her as the whole purpose was for her to use it at college. When I requested to add her to the account, they never asked for her SS number and I thought that was strange as I wondered how would they identify her. Well, they must go by address because this account has been reporting to her credit report for the last two years. I monitor her credit report as well as mine and this credit card and her student loans are the only items reporting and somehow she has a 670 FICO.

Re: Adding an authorized user

SwiftTone — Fri, 30 Mar 2012 13:22:11 GMT

From what I've read, CCCs don't need SSN to report AU. They have other ways of tracking AU down.

Re: Adding an authorized user

SwiftTone — Fri, 30 Mar 2012 13:23:37 GMT

So can anyone answer my question??

On the AU's CR, does it say when they were added as an AU on that account?

Re: Adding an authorized user

Anonymous — Fri, 30 Mar 2012 13:49:44 GMT

@SwiftTone wrote:
From what I've read, CCCs don't need SSN to report AU. They have other ways of tracking AU down.

If the AU is a Jones or Smith, how would they ever know it's the Jones or Smith that is a AU on my account?

Re: Adding an authorized user

SwiftTone — Fri, 30 Mar 2012 13:55:20 GMT

The address you give them

Re: Adding an authorized user

Anonymous — Fri, 30 Mar 2012 14:04:43 GMT

@SwiftTone wrote:
The address you give them

I didn't request another card or allow them online access, so no email address or otherwise was asked of me.

Re: Adding an authorized user

TNTransplant — Fri, 30 Mar 2012 14:10:11 GMT

@SwiftTone wrote:
So can anyone answer my question??

On the AU's CR, does it say when they were added as an AU on that account?

I was added as an AU on an AMEX in January, 2012. It shows on my credit report as a new line of credit, opened 1/12.

Re: Adding an authorized user

SwiftTone — Fri, 30 Mar 2012 14:15:37 GMT

What information did you give them? Just a name? No address, no SSN?

If it's just a name, then you need to make sure Citi reports AU to their CRAs because otherwise, Citi probably doesn't report AU to CRAs

Re: Adding an authorized user

Anonymous — Fri, 30 Mar 2012 15:12:30 GMT

@SwiftTone wrote:
What information did you give them? Just a name? No address, no SSN?

If it's just a name, then you need to make sure Citi reports AU to their CRAs because otherwise, Citi probably doesn't report AU to CRAs

That's what I stated, just a name and nothing else.