topic Re: Can being an authorized user help credit score? in Rebuilding Your Credit

Can being an authorized user help credit score?

ilzhoefer — Mon, 04 Mar 2013 01:40:22 GMT

Hello:

I am curious to know of success stories from people that have been added as an authorized user on a credit card from a family member that is paid in full every month, etc. No blemishes.

Is their previous payment history reported on your CR or only from the time you are added?

How about the length of the card history. If it was open 10 years ago, is that length reported to my report or only when I am added?

Any help is appreciated.

Re: Can being an authorized user help credit score?

Anonymous — Mon, 04 Mar 2013 01:53:51 GMT

When you are added as an AU you get instant history of the card. It will report as being opened 10 years ago and include the CL, payment history etc.

Yes, it can help your score.

Re: Can being an authorized user help credit score?

RobertEG — Mon, 04 Mar 2013 07:25:17 GMT

The down-side is that if a creditor wishes to determine your own credit score without the effect of the added history, they cannot do so.

Many lower principal credit transactions rely primarily on the consumer's score without a detalied manual review, so it is a very good tool for rebuilding credit.

However, if a higher amount of principal or a high CL card is sought, they will most likely do a manual review of your CR, and seeing that your score is based in part on credit history that is not yours, may question the score, or discount its value in their decision making.

Re: Can being an authorized user help credit score?

SLR72689 — Mon, 04 Mar 2013 21:23:16 GMT

Re: Can being an authorized user help credit score?

ilzhoefer — Mon, 04 Mar 2013 21:50:23 GMT

What does +1 mean?

Re: Can being an authorized user help credit score?

Anonymous — Mon, 04 Mar 2013 21:53:27 GMT

they agree with what's said

Re: Can being an authorized user help credit score?

SLR72689 — Mon, 04 Mar 2013 21:54:03 GMT

I did + 1 so I can see updates on this thread. Probably should've said "bump".

Re: Can being an authorized user help credit score?

ilzhoefer — Mon, 04 Mar 2013 22:03:42 GMT

So I take it it's a good idea to be an authorized user. I was added today, so I assume it will show up when the statement closes.

Thank you,

Re: Can being an authorized user help credit score?

Anonymous — Mon, 04 Mar 2013 23:01:14 GMT

Just wanted to add one caution: My DH and I were added to my mom's chase card after our Ch 7 BK on the advice of our mortgage lender, and it worked like a charm. Our scores bumped up 40+ points overnight. However, now that we have rebuilt our own credit, we are trying to refi our car loan and get a better CC, but my mom recently remodled her kitchen, and put the whole thing on the card. ($9560/10000CL) It's paid off now, but I have to wait for it to cycle because my CR is showing 90% util.

Just a caveat. It DOES bump up your score, though.

Re: Can being an authorized user help credit score?

ilzhoefer — Mon, 04 Mar 2013 23:09:00 GMT

Yes, my father pays off his card in full every month and understands the Credit to Debt ratio.

So hopefully it works out.

Re: Can being an authorized user help credit score?

SLR72689 — Mon, 04 Mar 2013 23:23:52 GMT

I called Best Buy to inquire about what adding an AU does... and I was told they do not report on the AU's credit. I was hoping to bump up my boyfriend's score a bit as my account is in good standing, no missed payments with one CLI for 6 years.

I am going to call and add him anyway and see what happens. If nothing happens, I can always remove him I suppose.

For those that have been added as an AU or added an AU ... did they ask for the social of the AU?

Re: Can being an authorized user help credit score?

ilzhoefer — Mon, 04 Mar 2013 23:26:54 GMT

You bring up a good point.

I assume adding an AU would automatically be reported to the approriate credit bureaus.

I mean that can't report to only one's credit reports and not the other one??

Re: Can being an authorized user help credit score?

SLR72689 — Mon, 04 Mar 2013 23:30:09 GMT

@ilzhoefer wrote:
You bring up a good point.
I assume adding an AU would automatically be reported to the approriate credit bureaus.
I mean that can't report to only one's credit reports and not the other one??

I was told because an AU is not responsible for the debt, it will not be reported to the credit as they are only being authorized to charge on the card. It's not the same as a joint account.

This was what the representative told me today.

Re: Can being an authorized user help credit score?

Anonymous — Fri, 08 Mar 2013 18:18:36 GMT

My AU accounts report to TU and EX but not EQ. My EQ score is consistently 40 Pts lower.

Re: Can being an authorized user help credit score?

Anonymous — Fri, 08 Mar 2013 18:22:21 GMT

@ilzhoefer wrote:
You bring up a good point.
I assume adding an AU would automatically be reported to the approriate credit bureaus.
I mean that can't report to only one's credit reports and not the other one??

No, not all AUs report to the CRAs.

Re: Can being an authorized user help credit score?

ilzhoefer — Fri, 08 Mar 2013 18:27:34 GMT

Well the account closes the 28th, so I wil find out in a few weeks.

Re: Can being an authorized user help credit score?

Anonymous — Tue, 26 Mar 2013 09:47:42 GMT

My Dad added me to his Discover card, but it didn't ask for my S.S. #? How will it show up on my credit report?

Re: Can being an authorized user help credit score?

Anonymous — Tue, 26 Mar 2013 09:55:27 GMT

You must add them as a joint account hold in some case that's ht I did on my brothers card I had to give my ss and sign off on the card agreement thn 30 days later it reported. The whole 5 years of history

Re: Can being an authorized user help credit score?

Simplyjays — Tue, 26 Mar 2013 11:40:31 GMT

not always because i got added on my fiances chase freedom as an AU and it doesnt appear on my credit at all. they also no longer do joint accounts.. so i dont see how it can really go into my credit report. on top of that they do not have my SSN.. so i belive it vairys from CC to CC. btw im spanish so my english gets mixed sometimes lol.

Re: Can being an authorized user help credit score?

elleng81 — Tue, 26 Mar 2013 14:12:29 GMT

Just my experience... I am an AU on my husbands Best Buy Reward Zone MC, his Cap 1 MC, and my father in law's NFCU Signature Visa... and all three show up on my report every month. I know that NFCU asked for my SS# when I was added... I don't remember with the other two though, it has been to long.