topic Re: Autorized user expectation in Credit Cards

Autorized user expectation

re383209 — Mon, 03 Sep 2012 17:16:39 GMT

Hi I would like to thank in advance for any advice, I would like to ask what I should expect from being added as an authorized user, I had recently ask my dad around the middle of august to add me as an authorized user to two of his credit cards ones a discover from 1999 with a 50k limit but when he add me they just ask for my name and address no social( so will this report) and a capital one with a 25k limit from 2002 but that wanted my social and all my info. He has recieved both cards with my name but they still havnt reported. So what I was wanting to know is when will they report on average if at all, and what my credit score should do, Im 21 with an oldest credit line of 3 years and average of 1.5 years

Re: Autorized user expectation

webhopper — Mon, 03 Sep 2012 17:24:25 GMT

If you and your dad share an address it will report. I recently added my husband to a discover account opened in 1999 and he inhereted the full history of the account. It only showed up on his report when I added him also to amex; which does ask for ss#.

It will help your aaoa IF the lender factors them in while computing your data for approval.

Re: Autorized user expectation

Jlu — Mon, 03 Sep 2012 17:30:59 GMT

Just a note, Chase ignores AU's and any AAoA gained from such status.

Re: Autorized user expectation

re383209 — Mon, 03 Sep 2012 17:47:26 GMT

Thanks for the help the reason I originally need it was to get to the magically 620 for a house but had an unatorized lender pull and had a transunion 640, so I'm closing on my house at the end of the month but what I'm trying to aquire is a 0 intro apr for repairs or a lowes card any suggestions??

Re: Autorized user expectation

Jlu — Mon, 03 Sep 2012 17:51:42 GMT

Using AU status to boost your score in order to get a mortgage will not work. Use the AU status to get cards that you couldn't otherwise get and then garden. Mortgages are always a manual review. They will discount your AU status and you will be scored and analyzed based on your own accounts, be them positive or negative.

EDIT: Just re-read and realized that's not what you're doing, but I'll leave it up because it might help someone.

Re: Autorized user expectation

Anonymous — Mon, 03 Sep 2012 18:00:24 GMT

I disagree with Jlu regarding Chase not reporting Authorizer Users

I have added three of my children on my Chase Cards as an Authorizer User and they did report to the

credit bureaus.

Re: Autorized user expectation

Jlu — Mon, 03 Sep 2012 18:03:22 GMT

@Anonymous wrote:
I disagree with Jlu regarding Chase not reporting Authorizer Users

I have added three of my children on my Chase Cards as an Authorizer User and they did report to the
credit bureaus.

You misunderstood what I was saying. Chase discounts AU accounts when reviewing applications for credit. They look only at accounts that belong to you.

Re: Autorized user expectation

webhopper — Mon, 03 Sep 2012 18:04:20 GMT

@cleanmachine

I think jlu was commenting on the fact that if your kid applied for a chase credit card; chase would ignore those cards where your kid was not the primary cardholder as they make their decision based on individually owned accounts; not AU accounts

Re: Autorized user expectation

Jlu — Mon, 03 Sep 2012 18:05:38 GMT

@webhopper wrote:
@Anonymous

I think jlu was commenting on the fact that if your kid applied for a chase credit card; chase would ignore those cards where your kid was not the primary cardholder as they make their decision based on individually owned accounts; not AU accounts

Re: Autorized user expectation

emptypockets — Mon, 03 Sep 2012 18:06:57 GMT

Cap One will reports on AU's even if not at the same address. I have AU's at a separate address and the card definitely show on their reports.