topic Spouses Adding Each Other As Authorized Users in Credit Cards

Spouses Adding Each Other As Authorized Users

Anonymous — Sun, 26 Oct 2014 04:25:56 GMT

My wife and I both just got secured credit cards from Bank of America. I read that being added as an authorized user for someone else's credit card will then populate their credit history for that account to your credit report. Now I wonder if there would be any benefit if both my wife and I added each other as authorized users on each other's credit cards? Would this not then show as 2 credit card accounts on each credit report? Please advise.

Re: Spouses Adding Each Other As Authorized Users

uswala — Sun, 26 Oct 2014 05:07:13 GMT

@Anonymous wrote:
My wife and I both just got secured credit cards from Bank of America. I read that being added as an authorized user for someone else's credit card will then populate their credit history for that account to your credit report. Now I wonder if there would be any benefit if both my wife and I added each other as authorized users on each other's credit cards? Would this not then show as 2 credit card accounts on each credit report? Please advise.

I and my wife have benefited a lot from the same arrangement. Though, our credit file is thin but it still has substance. We have got most of the prime lender's card helping each other.

Re: Spouses Adding Each Other As Authorized Users

Anonymous — Sun, 26 Oct 2014 04:36:21 GMT

@uswala wrote:
@Anonymous wrote:
My wife and I both just got secured credit cards from Bank of America. I read that being added as an authorized user for someone else's credit card will then populate their credit history for that account to your credit report. Now I wonder if there would be any benefit if both my wife and I added each other as authorized users on each other's credit cards? Would this not then show as 2 credit card accounts on each credit report? Please advise.
I and my wife have benefited a lot from the same arrangement. Though, our credit file is thin but it still has substance. We have got mots of the prime lender's card helping each other.

It can work for you if you do it on the right cards.

It can work against you too however. AAoA wise.

Re: Spouses Adding Each Other As Authorized Users

Anonymous — Sun, 26 Oct 2014 04:46:21 GMT

I hope you trust your significant other a heck of a lot to do such a thing!

Re: Spouses Adding Each Other As Authorized Users

Anonymous — Sun, 26 Oct 2014 04:58:37 GMT

Well she is my wife, so I do indeed trust her. Fortunately we are both extremely conservative with regard to finances. Which is why we both have 0 credit because we never bought anything which we couldn't afford with cash.

Re: Spouses Adding Each Other As Authorized Users

Anonymous — Sun, 26 Oct 2014 05:00:37 GMT

What does AAoA mean?

Re: Spouses Adding Each Other As Authorized Users

Anonymous — Sun, 26 Oct 2014 05:04:41 GMT

Average age of accounts.

Re: Spouses Adding Each Other As Authorized Users

newhis — Sun, 26 Oct 2014 08:53:53 GMT

My DW got her first card in the USA in February 2014, I got my first on March 2014. When I added her she lost 1 month with the new account, when she added me I gain 1 month to do average.

She has 4 credit cards now as principal and 2 as AU. Some creditors don't count AU, so maybe it is not a lot of help but her credit reports lists 6 accounts instead of only 4. Every card with low util and always paid on time. Sometimes we PIF before statement date so the card report 0 balance.

Re: Spouses Adding Each Other As Authorized Users

coldnmn — Sun, 26 Oct 2014 10:16:41 GMT

This may help going forward.

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458