topic Re: Authorized in Understanding FICO® Scoring

Authorized

Mrflip09 — Tue, 09 Apr 2019 02:12:56 GMT

How much of an impact would it have on my credit score if my mom was to add me as a authorized user on one of her cards?

Re: Authorized

Anonymous — Tue, 09 Apr 2019 02:39:26 GMT

@Mrflip09 wrote:
How much of an impact would it have on my credit score if my mom was to add me as a authorized user on one of her cards?

There are too many variables to answer that question without further information. What is the UTI on the card you will be added to? How old is it? Who is the creditor? How many accounts do you have? How old are they? What is your UTI?

Re: Authorized

Mrflip09 — Tue, 09 Apr 2019 02:43:41 GMT

Mine is around 30% right now but will be lower when reported.... my mom got great credit.... not exactly sure of the limit but it's a old card..... let's just say for example.... less then 20% uti....5k limit and 5 years old......i have 3 accounts 1.8 year average according to my report

Re: Authorized

Shooting-For-800 — Tue, 09 Apr 2019 10:50:27 GMT

Completely depends on the account and your file.

Re: Authorized

kxkxkxx — Tue, 09 Apr 2019 19:55:56 GMT

Like the others said, depends on factors...I can tell you I had mine add me to a card she has, it is 20yrs old, had a very high credit limit and owing about 25% of that limit...it boosted me 15-20 pts per report.

Re: Authorized

Anonymous — Fri, 12 Apr 2019 03:04:36 GMT

+1 What @Overmedicated said.

Re: Authorized

DollyLama — Fri, 12 Apr 2019 06:38:07 GMT

@Mrflip09 wrote:
Mine is around 30% right now but will be lower when reported.... my mom got great credit.... not exactly sure of the limit but it's a old card..... let's just say for example.... less then 20% uti....5k limit and 5 years old......i have 3 accounts 1.8 year average according to my report

I'm with the first response. If Mom's card is significantly older than yours (5 yrs old vs. your oldest ex.1.5 yr old), it can help. If you have an open revolver over 5 years old, it will not help on the Age of Oldest Account. If you are even near it <12 mos, it wouldn't be worth it. Since your utilization overall reporting next month will be in the <30%, it wouldn't be needed. Only if you had high utilization cards and needed the 5k limit to reduce overall utilization and cross a scoring threshold.

Also which was noted, retail store/charge card,(Victoria Secret, Home Depot, etc.) or Bank card Visa, MC, Amex Exp, Discover ?

Re: Authorized

Anonymous — Fri, 12 Apr 2019 13:00:36 GMT

OP, what is the age of your oldest account? A 5 year old AU account isn't very aged; often we see people adding AU accounts to a young file because they're 10-20+ years in age.