topic Re: Adding my wife as an authorized user in Credit Cards

Adding my wife as an authorized user

Anonymous — Fri, 01 Aug 2014 18:03:31 GMT

Re: Adding my wife as an authorized user

armbenderc — Wed, 03 Apr 2013 13:52:09 GMT

@AJC1987 wrote:
This is my situation, I am 25 years old have 4 credit cards and a mortgage. Scores are around 745 after new mortgage and crfedit cards this year. My history is only about 3 years on average. I have no missed payments and nothing derogatory. My fiance currently has once credit card and pays it on time and in full every month. If I add her as an authorized user would it have a boost to her score? My limits are double what hers are right now. Would it be beneficial at all?

It would be beneficial. I read in this forum that is is recommend that you should have a minimum of 3 revolving credit card, you wife has 1?

As for the util purposes, if you wife PIF every month before the statement cut, adding her as AU does nothing to her UTIL. Unless she is carrying balance, then it will give her a bump. However, it will show that your wife has access to credit and is using it wisely to other creditors when she is applying for more credit cards.

Re: Adding my wife as an authorized user

ktl72455 — Wed, 03 Apr 2013 14:03:58 GMT

unless u add her to the card that you carry a small amount on , then if she PIF every month it will be the same as her carrying a balance and she will get a bump.

I have 4 cards and PIF but am AU on 2 of my husbands and he has a balance and it shows on my Credit report as my balance as well. His UTL is very high so until we get it down I an getting more help from the age of the account than the balance.

If my information to the OP isnt correct please some one correct me!

Re: Adding my wife as an authorized user

Anonymous — Wed, 03 Apr 2013 14:51:59 GMT

If you can add her to your oldest account, one that hopefully has a high limit and make sure that it reports 0 every month then yes it will give her a score bump.

Re: Adding my wife as an authorized user

ktl72455 — Wed, 03 Apr 2013 15:05:16 GMT

If his reports 0 every month and hers reports zero every month, fico dont like to see them all report 0.

9% or less on at least 1 for a balance and rest at 0.00 for Max score impact.

Re: Adding my wife as an authorized user

Anonymous — Fri, 01 Aug 2014 18:03:47 GMT

Re: Adding my wife as an authorized user

VirtualCuriosity — Mon, 15 Apr 2013 20:57:38 GMT

@AJC1987 wrote:
I added her as an authorized user this morning. I was talking to someone via the Bank of America online chat and they informed me that it will not show up on her credit report! Do you guys have any idea of why it wouldnt show up on her report???

I also added my wife to my last three CCs. It took some more than others longer to report. Funny thing is on some monitoring sites, she was alerted days before me. Also, just for more comparison, she has a higher grade on "number of accounts" on many different credit sites. I have ten total (open and closed, old and new). She has 13 of the same.

Re: Adding my wife as an authorized user

parakleet — Mon, 15 Apr 2013 23:38:25 GMT

Somewhat piggybacking onto this thread - I have a similar situation. I want to add my husband as AU. His score is about 712 and clean history. He just sold his house and has one credit card at 12K CL that's almost maxed out which he's working on paying down. It's at 0% apr until the end of the year at which time we'll try to do a BT. I, on the other hand, have too many CCs (BCP 11k, CSP 5k, Freedom 6k, Slate 6k, Discover It 5.5k) that I recently got approved for. If I add him as AU to my new CCs, which I plan on PIF each month, what effect, if any, will that have on his score? Ideally, he wants to be able to app for a prime card w/ a BT promotion at the end of the year to do another BT.

Re: Adding my wife as an authorized user

webhopper — Tue, 16 Apr 2013 01:31:51 GMT

Adding him to a new account will likely not help as much as if you add him to an older account..to help the most you would add him to your oldest account and let it be at 0 balance.

Re: Adding my wife as an authorized user

parakleet — Tue, 16 Apr 2013 02:21:23 GMT

@webhopper wrote:
Adding him to a new account will likely not help as much as if you add him to an older account..to help the most you would add him to your oldest account and let it be at 0 balance.

Thanks. That's what I plan on doing. I think if I add him to two of my older accounts ('08, '06) that will bring his util down from 95% to under 40%. I have a brand new BCP which if he's added as an AU, it would lower his util even more despite the lack of history. So I may do that as well.

Re: Adding my wife as an authorized user

webhopper — Tue, 16 Apr 2013 02:40:39 GMT

@parakleet wrote:
@webhopper wrote:
Adding him to a new account will likely not help as much as if you add him to an older account..to help the most you would add him to your oldest account and let it be at 0 balance.
Thanks. That's what I plan on doing. I think if I add him to two of my older accounts ('08, '06) that will bring his util down from 95% to under 40%. I have a brand new BCP which if he's added as an AU, it would lower his util even more despite the lack of history. So I may do that as well.

That sounds like a great plan! Good luck!

Re: Adding my wife as an authorized user

mikey4833 — Tue, 16 Apr 2013 03:19:58 GMT

My great aunt said adding me to her credit card from 1987 would really help my credit but I was born april 10 84 lol creditors would know something is up with that.. Do creditors count authorized users accounts during say a reconsideration? Like say I got declined by Chase for the freedom card. I call the back door number to lending services. They say they want more credit history well 20 some years will give them plenty lol if it would work. She said she may add me as joint if authorized user doesn't help me. Any ideas on this?

Re: Adding my wife as an authorized user

webhopper — Tue, 16 Apr 2013 03:25:24 GMT

It will help for sure but only if you and her share a common address or if she is required to give your social.

Sometimes AU cards wont report until the addresses line up perfectly.

Its likely that with the added history you may not need to recon. Every lender is different as to whether they include AU.accounts in their scoring formula

Re: Adding my wife as an authorized user

webhopper — Tue, 16 Apr 2013 03:27:12 GMT

She can try the AU route if that doesn't work then go the joint route except remember that if something happens to ber you will be on the hook for the bill. Also keep in mind that if the utilization is high on the account it will actually hurt more than it helps.

Re: Adding my wife as an authorized user

09Lexie — Tue, 16 Apr 2013 03:46:57 GMT

Also, there have been mixed responses on whether or not Chase will take the AUs history into account. If computer approval, yes- manual review they will not. YMMV