topic Re: How does Authorized User Impacts FICO in Understanding FICO® Scoring

How does Authorized User Impacts FICO

Anonymous — Wed, 09 May 2007 21:08:27 GMT

I am currently working to build a fair credit rating into an Excellent one... I have recently been added to two 14 year old CC (from a realative) both accounts with CL north of $15k and $0 balances. I am curious about whether or not this will help me to increase my FICO score.

Any input would be helpful.

Take Care.

Re: How does Authorized User Impacts FICO

Tuscani — Wed, 09 May 2007 21:30:37 GMT

Absolutely!

Re: How does Authorized User Impacts FICO

Anonymous — Wed, 09 May 2007 21:34:35 GMT

What impact does it have on my overall revolving debt to available credit limts? Or does it at all? Does the FICO calculate differently when the accounts are not mine primarily?

Thanks.

Re: How does Authorized User Impacts FICO

smallfry — Wed, 09 May 2007 21:36:12 GMT

@Tuscani wrote:
Absolutely!

Its legal I know that but I can't imagine FICO would allow this kind of stuff to go on. Think about it. You are buying someone else's good credit. How does that prove that the creditor is creditworthy? Its a failure of the system.

Re: How does Authorized User Impacts FICO

Anonymous — Wed, 09 May 2007 21:39:04 GMT

^^^ Not sure what you mean. I haven't bought anything.... My question was does FICO take into consideration that I am an authorized user or do they calculate as if it were my account primarily.

Take Care.

Re: How does Authorized User Impacts FICO

Tuscani — Wed, 09 May 2007 21:46:27 GMT

Not a failure in the system. ALl the AUs in world still won't help you if you have enough derogs.

OP, yes the account show up just like your own. You get the history and the util. Just remember, with the good comes the bad. So make sure the person adding you is responsible.

Message Edited by Tuscani on 05-09-2007 04:46 PM

Re: How does Authorized User Impacts FICO

Anonymous — Wed, 09 May 2007 21:55:41 GMT

Thanks Tuscani...

Take Care.

Re: How does Authorized User Impacts FICO

smallfry — Wed, 09 May 2007 22:06:04 GMT

My son's gf is 19 and due to this practice she has a FICO score over 800. Whether you paid or not is not the question. FICO score is supposed to grade YOUR credit not someone else. If you can do it by all means then go for it but in my mind it is most certainly a flaw in the scoring system.

Re: How does Authorized User Impacts FICO

Anonymous — Wed, 09 May 2007 22:14:20 GMT

I just thought it was a way for my Wife to help me build a good credit rating...

Sorry for upsetting you. Your sons significant other probably regrets sharing her FICO with you (based on your opinion.) I guess she had to learn the lesson from someone... She shouldn't share her political affiliations either.

Thanks for the replies.

Take Care.

Re: How does Authorized User Impacts FICO

smallfry — Wed, 09 May 2007 22:28:11 GMT

@Anonymous wrote:
I just thought it was a way for my Wife to help me build a good credit rating...
Sorry for upsetting you. Your sons significant other probably regrets sharing her FICO with you (based on your opinion.) I guess she had to learn the lesson from someone... She shouldn't share her political affiliations either.
Thanks for the replies.
Take Care.

Don't get the wrong impression. I'm not upset I just think it is a flaw in the scoring system. If it will help you guys out then by all means do it. Best of luck to you.