topic Re: Authorized card question in General Credit Topics

Authorized card question

kugel — Wed, 16 Jan 2019 01:06:14 GMT

My sis just added me as a authorized user in Nordstrom store card witch is 9 years old they ONLY asked for my date of birth and name not social will it still show on my report ?
Will I get a score boost because of the age of her card
Also should I do another card or one is enough for it to work ?

Re: Authorized card question

Kforce — Wed, 16 Jan 2019 00:41:04 GMT

@kugel wrote:
My sis just added me as a authorized user in Nordstrom store card witch is 9 years old they ONLY asked for my date of birth and name not social will it still show on my report ?
Unknown, maybe "Yes", maybe "No".
Most issuers try to match by name and address. This usually works for kids and parents, sometimes brothers sisters. Even friends that have same address. If you and her have different last names and addresses it might not link up.
I did it to get a score boost because of the age of her card.
Yes. it can help, if the card reports low utilization.

Also should I do another card or one is enough for it to work ?

If you have credit already, being an AU on another persons credit is not a very important factor.

Becoming an AU is a way for young people, 15-20 to get a credit score while not ready to enter the work force yet. (No income, job). If you are employed it is better to get your own credit going, the sooner the better. Start with a secured card or student card. If you have no credit at all, you should open a saving/checking at a credit union and in a few months get a secured card from them. If you have no income then yes becoming an AU will help in getting a score reporting.

Two cards would be better than one, however one of you own is better than many as an AU.

Re: Authorized card question

kugel — Wed, 16 Jan 2019 00:47:20 GMT

Hopefully it will catch my address is different from her also
I do have good credit 170k available credit but short credit only 3 years so trying get a score boost

Re: Authorized card question

aircobra — Wed, 16 Jan 2019 00:47:40 GMT

@kugel wrote:
will it still show on my report ?
I did it to get a score boost because of the age of her card

I don't understand, it seems you already answered your question.

Re: Authorized card question

Kforce — Wed, 16 Jan 2019 00:53:25 GMT

@kugel wrote:

Hopefully it will catch my address is different from her also
I do have good credit 170k available credit but short credit only 3 years so trying get a score boost

If it links up, it should help.

I am curious of the outcome.

Let us know.

Re: Authorized card question

kugel — Wed, 16 Jan 2019 01:04:28 GMT

Sure I will keep posted

Re: Authorized card question

CreditBob — Wed, 16 Jan 2019 15:01:14 GMT

AU accounts as far as the score goes will only benefit parent to immediate child or spouse to spouse. And creditors will need to see more than only as an authorized user. Make sure that you have other trade lines that you are responsible and are making payments.

Re: Authorized card question

RobertEG — Wed, 16 Jan 2019 21:03:40 GMT

By definition, addition of the account of another to your credit report automatically results in any subsequent score no longer being representative of only your own personal credit history. That could become a possible problem.

If you apply for new credit, depending upon the type and amount, the creditor may or may not do a comprehensive manual review of your credit report as part of their approval process.

If the amount of requested credit is low, many creditors may rely only upon your three-digit score in their approval process,thus saving time and money. They thus will not be aware that the score they are using is not limited to an assessment of only the applicant's personal history.

AUs are thus often very useful for building or rebuilding.

Howver, as your score improves and you move up the credit ladder, there is usually increased liklihood that the creditor will do a manual review of your credit report as part of the approval process. Upon seeing presence of an AU account, they are aware that the score is not representative of only your own risk assessment. They may thus give your application more scrutiny. Some mortgage lendors have even been known to require removal of any AUs as part of their underwriting process in order to then obtain a "real" credit score based on assessment of only your own credit history.