topic Re: Question about Authorized User in Credit Cards

Question about Authorized User

Anonymous — Sun, 28 Sep 2014 04:14:00 GMT

So I just got a replacement card for American Express card I lost, with reduced credit limit (something about not being responsible blah blah blah) of 2000, it's an authorized user card from my work, when they were applying for it they entered my social security and eveyrhing, so my question is. Will it help with increasing my credit score? I've been told it might, but I don't see this card listed on my credit report or anything.

Re: Question about Authorized User

heyarrnold — Sun, 28 Sep 2014 04:51:11 GMT

It depends. How big is the credit limit? What is your AAoA of accounts? What is your util?

There are too many factors. More info about your overall credit profile is needed.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 04:57:13 GMT

credit limit on this card is 2000, and my average of credit history is 5y6m, longest credit history is 11 years. my utility is 13% (that's only my credit cards, as amex AU isn't on there).

credit score according to credit karma is 699. Discover/Barclay fico score is 658, and experian credit score is 699.

Re: Question about Authorized User

heyarrnold — Sun, 28 Sep 2014 05:03:03 GMT

Well, your AAoA will drop. Your util will go down. However, how much your util will go down depends on what your total available credit is. If you have a decent amount of available credit, then you will not see a huge improvement in util and your score may drop a bit becuase of the lower AAoA.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 05:12:16 GMT

well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.

Re: Question about Authorized User

heyarrnold — Sun, 28 Sep 2014 05:14:30 GMT

@Anonymous wrote:
well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.

Ahhh, then your util will not improve as a charge card does not report a limit. So all you will get is a lower AAoA and your score remaining the same or lowering a bit.

Re: Question about Authorized User

jsucool76 — Sun, 28 Sep 2014 05:16:53 GMT

@heyarrnold wrote:
@Anonymous wrote:
well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.
Ahhh, then your util will not improve as a charge card does not report a limit. So all you will get is a lower AAoA and your score remaining the same or lowering a bit.

AAoA wouldn't necessarily be lower. It all depends on when his business opened the card I believe. If the card reports, I'm fairly certain it would report the open date as when the company opened the card originally.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 05:23:13 GMT

@jsucool76 wrote:
@heyarrnold wrote:
@Anonymous wrote:
well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.
Ahhh, then your util will not improve as a charge card does not report a limit. So all you will get is a lower AAoA and your score remaining the same or lowering a bit.
AAoA wouldn't necessarily be lower. It all depends on when his business opened the card I believe. If the card reports, I'm fairly certain it would report the open date as when the company opened the card originally.

the card was opened 6 years ago. and charge card doesn't show the limit? even though mine's got 2k limit on it? balls!

I just looked at the card, and it says "member since 14"

Re: Question about Authorized User

heyarrnold — Sun, 28 Sep 2014 05:21:09 GMT

@jsucool76 wrote:
@heyarrnold wrote:
@Anonymous wrote:
well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.
Ahhh, then your util will not improve as a charge card does not report a limit. So all you will get is a lower AAoA and your score remaining the same or lowering a bit.
AAoA wouldn't necessarily be lower. It all depends on when his business opened the card I believe. If the card reports, I'm fairly certain it would report the open date as when the company opened the card originally.

As an AU, from my understanding, he gets his own card number with a MSD of 2014.

However, now that I think about it, it's a business CC. I don't think this will even report to your personal credit report.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 05:26:54 GMT

@heyarrnold wrote:
@jsucool76 wrote:
@heyarrnold wrote:
@Anonymous wrote:
well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.
Ahhh, then your util will not improve as a charge card does not report a limit. So all you will get is a lower AAoA and your score remaining the same or lowering a bit.
AAoA wouldn't necessarily be lower. It all depends on when his business opened the card I believe. If the card reports, I'm fairly certain it would report the open date as when the company opened the card originally.
As an AU, from my understanding, he gets his own card number with a MSD of 2014.

However, now that I think about it, it's a business CC. I don't think this will even report to your personal credit report.

well... there's goes my dream for rapid mid 700 credit score

Re: Question about Authorized User

heyarrnold — Sun, 28 Sep 2014 05:28:52 GMT

@Anonymous wrote:
@heyarrnold wrote:
@jsucool76 wrote:
@heyarrnold wrote:
@Anonymous wrote:
well the original card is amex business gold charge card, which they pay off every month, I just have the 2000 cl because i lost the card and they don't trust me with unlimited card. I got this card around the same time as I got my 2 new cards, which was last month. I just hope that having this card would some how boost my credit hopefully toward 700 and over soon.
Ahhh, then your util will not improve as a charge card does not report a limit. So all you will get is a lower AAoA and your score remaining the same or lowering a bit.
AAoA wouldn't necessarily be lower. It all depends on when his business opened the card I believe. If the card reports, I'm fairly certain it would report the open date as when the company opened the card originally.
As an AU, from my understanding, he gets his own card number with a MSD of 2014.

However, now that I think about it, it's a business CC. I don't think this will even report to your personal credit report.
well... there's goes my dream for rapid mid 700 credit score

Sorry bud!

Also, though the card has a 2k "credit limit," this was placed by your employer, the card is NSPL and thus does not report a limit.

Re: Question about Authorized User

elegia — Sun, 28 Sep 2014 05:35:26 GMT

Amex cardholders can set individual spending limits on AU cards, but that's really just an internal feature and doesn't get reported since what appears on credit reports is the actual account information, not just what's relevant to the individual users/cards under the account. So it will show the opening date of the account, not the date the AU was added, and the total charges made across all users, not just what one user spent, etc.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 05:43:16 GMT

so this card has no benefit to me what so ever, just convenient for my bosses so I can run all the errands and coffee runs for'em, sucks being at the bottom of the totem pole

Re: Question about Authorized User

Ghoshida — Sun, 28 Sep 2014 05:55:32 GMT

@Anonymous wrote:
so this card has no benefit to me what so ever, just convenient for my bosses so I can run all the errands and coffee runs for'em, sucks being at the bottom of the totem pole

Corporate AMEX cards can still be made useful with regards to rewards; AMEX might ask you to pay a fee to join the rewards program. If you're spending heavily on that card and you're getting paid for that all the time, just enjoy the rewards My SO was given a Green, but we're getting it converted to Plat. Helps with the lounges when travelling.

Also, you are the person responsible for your own payment or missing it, in the eyes of FICO / lenders. So it's fitting that a card which is not used at your discretion (or paid for) is not included in your CRs.

Re: Question about Authorized User

b_diddy — Sun, 28 Sep 2014 06:59:44 GMT

This is a business card, likely opened under a Federal Tax ID #, by the company. It will not report to your CR so it will not have an impact on your score. Although you may have a hard pull from when the card was initially issued to you, your company likely signed a corporate guarantee if you did not have sufficient credit history in AMEX's eyes.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 07:05:38 GMT

@Ghoshida wrote:
@Anonymous wrote:
so this card has no benefit to me what so ever, just convenient for my bosses so I can run all the errands and coffee runs for'em, sucks being at the bottom of the totem pole
Corporate AMEX cards can still be made useful with regards to rewards; AMEX might ask you to pay a fee to join the rewards program. If you're spending heavily on that card and you're getting paid for that all the time, just enjoy the rewards My SO was given a Green, but we're getting it converted to Plat. Helps with the lounges when travelling.

Also, you are the person responsible for your own payment or missing it, in the eyes of FICO / lenders. So it's fitting that a card which is not used at your discretion (or paid for) is not included in your CRs.

I already checked about the rewards, they told me that only the original account holder will get the rewards

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 07:06:55 GMT

@b_diddy wrote:
This is a business card, likely opened under a Federal Tax ID #, by the company. It will not report to your CR so it will not have an impact on your score. Although you may have a hard pull from when the card was initially issued to you, your company likely signed a corporate guarantee if you did not have sufficient credit history in AMEX's eyes.

Do you know which credit agency they hp from? I haven't seen any alert from TU about hp yet, hopefully they didn't.

Re: Question about Authorized User

elegia — Sun, 28 Sep 2014 07:11:06 GMT

@Anonymous wrote:
@b_diddy wrote:
This is a business card, likely opened under a Federal Tax ID #, by the company. It will not report to your CR so it will not have an impact on your score. Although you may have a hard pull from when the card was initially issued to you, your company likely signed a corporate guarantee if you did not have sufficient credit history in AMEX's eyes.
Do you know which credit agency they hp from? I haven't seen any alert from TU about hp yet, hopefully they didn't.

I'm pretty sure Amex never pulls for adding AUs.

Re: Question about Authorized User

Anonymous — Sun, 28 Sep 2014 07:15:13 GMT

@elegia wrote:
@Anonymous wrote:
@b_diddy wrote:
This is a business card, likely opened under a Federal Tax ID #, by the company. It will not report to your CR so it will not have an impact on your score. Although you may have a hard pull from when the card was initially issued to you, your company likely signed a corporate guarantee if you did not have sufficient credit history in AMEX's eyes.
Do you know which credit agency they hp from? I haven't seen any alert from TU about hp yet, hopefully they didn't.
I'm pretty sure Amex never pulls for adding AUs.

whew! that's a relief. though i really don't need to worry about hp much, since I probably won't be applying for any loan what so ever for next 2 years

this forum is making me all paranoid!

Re: Question about Authorized User

b_diddy — Sun, 28 Sep 2014 07:15:32 GMT

@Anonymous wrote:
@b_diddy wrote:
This is a business card, likely opened under a Federal Tax ID #, by the company. It will not report to your CR so it will not have an impact on your score. Although you may have a hard pull from when the card was initially issued to you, your company likely signed a corporate guarantee if you did not have sufficient credit history in AMEX's eyes.
Do you know which credit agency they hp from? I haven't seen any alert from TU about hp yet, hopefully they didn't.

Likely EX around the time the initial card was issued to you ...