topic Re: Authorized User route in General Credit Topics

Authorized User route

newnew2015 — Sun, 15 Nov 2020 14:39:12 GMT

Hi all,

I was added as a AU to a chase sapphire reserve card. I am rebuilding and my scores were trending up and down for months (no new negatives or increase of card utilization idk why it would ever trend down :/ ) I am wondering how much of an impact people see from being an AU. I figured it was my next route in rebuilding. I am paying off a car loan soon so I'll be losing that good status account I'm assuming ? Correct me if I'm wrong ! The card holder has a high score and use and pay card off monthly. Also my ss # wasn't asked for. Will it still be reported ? Anyone know how long before it's reported ? The primary card holder and I have the same address.

Re: Authorized User route

FinStar — Mon, 16 Nov 2020 01:17:40 GMT

There might be some score improvement depending on the age of the account and provided its utilization factors are below certain thresholds. It can take up to 60 days in some instances for it to reflect on CRs.

Ideally, it's a form of 'piggybacking' in that it can create an artificially inflated score/age/utilization buffer (in a variety of cases) since you're not the primary accountholder. That said, a variety of lenders exclude AU accounts from their UW algorithms for those reasons.

Re: Authorized User route

Anonymous — Mon, 16 Nov 2020 05:54:02 GMT

@newnew2015 wrote:
Hi all,

I was added as a AU to a chase sapphire reserve card. I am rebuilding and my scores were trending up and down for months (no new negatives or increase of card utilization idk why it would ever trend down :/ ) I am wondering how much of an impact people see from being an AU. I figured it was my next route in rebuilding. I am paying off a car loan soon so I'll be losing that good status account I'm assuming ? Correct me if I'm wrong ! The card holder has a high score and use and pay card off monthly. Also my ss # wasn't asked for. Will it still be reported ? Anyone know how long before it's reported ? The primary card holder and I have the same address.

@newnew2015 in Version 8, there is an anti-abuse portion of the algorithm that can exclude authorized user accounts. You mentioned you have the same address but not whether you have the last same last name. Still no one knows exactly how it works. I have some with the same address that are excluded. Nevertheless they always count on the mortgage Scores.

if the car loan is your only loan and it is under 10% B/L, then you are receiving an nice additional award for the low utilization. When it closes yes you will see a score loss due to no longer receiving the additional award. However you will still be receiving the benefit in the mix category as long as it is on your credit report.

yes it should still be reported despite not getting the Social Security number.

Re: Authorized User route

Anonymous — Mon, 16 Nov 2020 06:04:52 GMT

Primary cardholder can call customer service, transfer to speak to credit bureau specialist, request mid-cycle update and it should show within day(s)

Re: Authorized User route

newnew2015 — Mon, 16 Nov 2020 07:43:49 GMT

@Anonymous Thanks for the detailed answer ! We don't have the same last name yet ! Hopefully it still helps me some haha

Re: Authorized User route

newnew2015 — Mon, 16 Nov 2020 07:45:20 GMT

@Anonymous thank you ! I'm not in a rush but I'll have the primary call if it doesn't show up in a reasonable amount of time. I had no idea this could be done !

Re: Authorized User route

newnew2015 — Wed, 18 Nov 2020 21:36:18 GMT

Update. Transunion report the account to my report in record fast timing w/ o prompt.

Re: Authorized User route

newnew2015 — Sun, 22 Nov 2020 11:13:00 GMT

Another update ! Just in case anyone is in my shoes and wants to use this post as reference later (I know I do for a lot of already answered posts haha). The account reported to all 3 credit agencies in less than a week. It shows as an AU account and my credit line on my reports went from around 5k to 20k+ so it definitely helps my utilization %. My score also jumped up about 20pts across the board. I've been at AZEO or whatever you call it for a while now and paying off my except zero card in full monthly since the summer so I'm sure that contributed to my boost as well. Have a great one !

Re: Authorized User route

Anonymous — Mon, 23 Nov 2020 04:20:29 GMT

@newnew2015 wrote:
Another update ! Just in case anyone is in my shoes and wants to use this post as reference later (I know I do for a lot of already answered posts haha). The account reported to all 3 credit agencies in less than a week. It shows as an AU account and my credit line on my reports went from around 5k to 20k+ so it definitely helps my utilization %. My score also jumped up about 20pts across the board. I've been at AZEO or whatever you call it for a while now and paying off my except zero card in full monthly since the summer so I'm sure that contributed to my boost as well. Have a great one !

@newnew2015 congratulations, but if you were already at AZEO the jump had nothing to do with utilization. Probably had more to do with age or possibly number of cards?

If you're curious and want to give us the details we may be able to figure it out, but it appears that it is counting and is not caught by the anti-abuse algorithm, since you got a score change on version 8 I'm assuming? Congratulations!

Re: Authorized User route

newnew2015 — Mon, 23 Nov 2020 09:17:13 GMT

@Anonymous the account is 7 years old reports 2% or lower utilization montly(usually it's paid off before reporting) and has perfect payment history. This is counting card # 5 for me overall ! And yes the change was for all 3 credit reports. Including Experian Fico 8!

Re: Authorized User route

Wavester64 — Mon, 23 Nov 2020 16:22:04 GMT

@FinStar wrote:
There might be some score improvement depending on the age of the account and provided its utilization factors are below certain thresholds. It can take up to 60 days in some instances for it to reflect on CRs.

Ideally, it's a form of 'piggybacking' in that it can create an artificially inflated score/age/utilization buffer (in a variety of cases) since you're not the primary accountholder. That said, a variety of lenders exclude AU accounts from their UW algorithms for those reasons.

Question concerning this: the additional inflated score, if any, would only be related to the account that the account owner has given the authorized user, not overall, correct?

For instance - if I made someone an AU on one of my accounts, say one with a $1000 SL, they would only get any additional benefits from that account only, not ALL the accounts I have, correct?

Re: Authorized User route

Slabenstein — Mon, 23 Nov 2020 16:25:52 GMT

@Wavester64 wrote:
@FinStar wrote:
There might be some score improvement depending on the age of the account and provided its utilization factors are below certain thresholds. It can take up to 60 days in some instances for it to reflect on CRs.

Ideally, it's a form of 'piggybacking' in that it can create an artificially inflated score/age/utilization buffer (in a variety of cases) since you're not the primary accountholder. That said, a variety of lenders exclude AU accounts from their UW algorithms for those reasons.
Question concerning this: the additional inflated score, if any, would only be related to the account that the account owner has given the authorized user, not overall, correct?

For instance - if I made someone an AU on one of my accounts, say one with a $1000 SL, they would only get any additional benefits from that account only, not ALL the accounts I have, correct?

Correct. Only accounts that appear on their credit reports could have an effect on their scores.

Re: Authorized User route

Anonymous — Tue, 24 Nov 2020 14:55:20 GMT

@newnew2015 wrote:
@Anonymous the account is 7 years old reports 2% or lower utilization montly(usually it's paid off before reporting) and has perfect payment history. This is counting card # 5 for me overall ! And yes the change was for all 3 credit reports. Including Experian Fico 8!

@newnew2015 congratulations indeed! What is the age of your oldest account? Is itvthis new account that was just added? If so, what was previously the age of your oldest account? Do you know your before and after average age of accounts?

yeah 5 is great to maximize your mortgage scores imo.

Re: Authorized User route

newnew2015 — Sat, 28 Nov 2020 14:25:41 GMT

@Anonymous thanks !! The average age of my accounts before this account was added was 15 years (student loans) this new account is 7 years old !