topic Re: Being added as an authorized user to boost score in Rebuilding Your Credit

Being added as an authorized user to boost score

Anonymous — Fri, 16 Jun 2017 03:32:14 GMT

My cousin added me as an AU on her Discover card in a attempt to boost my score to obtain a personal loan. How long will it take the new item to show on my reports? Will it boost my score? She has excellent credit and her limit will decrease my utilization quite a bit.

Re: Being added as an authorized user to boost score

Shogun — Fri, 16 Jun 2017 03:52:50 GMT

It's possible that you would see an increase, it would occurr when Discover posts the new update. Used to be a trick with piggybacking accounts, but now the algorythms are better at distinguishing the real from the fake. Good luck

Re: Being added as an authorized user to boost score

Anonymous — Fri, 16 Jun 2017 04:16:34 GMT

Thanks!

Re: Being added as an authorized user to boost score

RobertEG — Fri, 16 Jun 2017 09:23:49 GMT

Also, while you may see a score increase, a prospective lendor who does a manual review of your credit report will see the presence of an AU account.

That informs them that your "score" is not based only on your own credit history, and is affected by the credit history of another.

They have no way to back out the effect of the AU account, and thus could discount the value of the score in their decision making.

Because the presence of an AU account means that the score is not representative on the consumer's own history, some lendors will require removal of any AU accounts as part of a loan appproval process.

AUs are not a free lunch.

Re: Being added as an authorized user to boost score

Anonymous — Fri, 16 Jun 2017 11:54:34 GMT

It's all a big game isn't it?

Re: Being added as an authorized user to boost score

RobertEG — Fri, 16 Jun 2017 18:35:11 GMT

Yup.

A decade ago,. it was common practice for parties to advertise and sell the addition of AU accounts on the internet to total strangers.

That practice resulted in a crackdown that included a prior proposal by Fair Isaac to discontinue any scoring of AU accounts, and a limit by many creditors on only approving AUs for close family memebers, such as a spouse or child.

It is unregulated under the FCRA, and the CRAs do not discuss addition or deletion of AUs in their standard credit reporting manual other than the proper ECOA code for reporting purposes.

Re: Being added as an authorized user to boost score

Anonymous — Wed, 21 Jun 2017 17:00:14 GMT

Hello again, It was added to my Experian and did raise the score, but it's not on TU or EQ yet. Wonder why? I researched and they say that Disocover reports to all three. Thanks, Wes

Re: Being added as an authorized user to boost score

Anonymous — Wed, 21 Jun 2017 19:37:44 GMT

The timing isn't always exactly the same - you may see an update on Experian today and it may not appear on the other bureaus for a few days. For me personally, the updates usually happen within a couple days of each other.

Re: Being added as an authorized user to boost score

Anonymous — Wed, 21 Jun 2017 19:44:55 GMT

Thank you very much

Re: Being added as an authorized user to boost score

medicgrrl — Wed, 21 Jun 2017 19:51:28 GMT

I always see updates in this order on my reports...Exp, EQ, TU

Re: Being added as an authorized user to boost score

Anonymous — Wed, 21 Jun 2017 20:03:21 GMT

Thanks, I will look and hope for good news....

Re: Being added as an authorized user to boost score

Anonymous — Thu, 22 Jun 2017 23:51:59 GMT

I asked my sister to add me as an authorized user on her Citibank toys r us visa,she did add me but it NEVER showed up on my credit report,WHY?????this was over a year ago when I call to inquire about it they give me the run around....

Re: Being added as an authorized user to boost score

rmduhon — Fri, 23 Jun 2017 10:02:27 GMT

Not every CCC's will report an AU to any bureau, and not all CCC's will report an AU to every bureau. Do you have the same name and address? That seems to help sometimes

Re: Being added as an authorized user to boost score

rmduhon — Fri, 23 Jun 2017 10:07:14 GMT

Just remembered that I'm an AU on my hubby's Best Buy Visa that is backed by Citi, and it only reports to EX and we have the same name/address. So I'm guessing that this particular Citi card doesn't report AU's at all.

Re: Being added as an authorized user to boost score

Anonymous — Sat, 24 Jun 2017 02:10:24 GMT

Around how much points did it raise your score??
On experian etc.
Wanna know how much of a boost it have and did it ever show on the other ones yet ?

Re: Being added as an authorized user to boost score

Anonymous — Sat, 24 Jun 2017 03:07:03 GMT

It finally showed up on all three....gave me more seasoned credit, lass utilization and the scores went up about 20 points on the FICO site.

Re: Being added as an authorized user to boost score

Anonymous — Fri, 30 Jun 2017 17:53:52 GMT

I landed a personal loan from Lendmark, paid off all 4 credit cards & a loan, total ($5600). Once my score shoots up, I'm going to re-fi to pull more equity out of the home to use as savings. So this technique worked well for me by just being added as an AU on my cousin's Discover Card.

Re: Being added as an authorized user to boost score

Anonymous — Mon, 03 Jul 2017 00:38:54 GMT

How old was the credit credit card for the au?
You got the loan after your score was boosted or before?
Thought a au would boost more than 20 tho are your scores over 700 or under?

I've been wanting to get a au but always unsure how big of a boost I would get.

Re: Being added as an authorized user to boost score

Anonymous — Mon, 03 Jul 2017 02:06:11 GMT

The au acct is 17 years old. Got the loan after, dont know which score Lenmark used, but it was 670. Just paid off all cc's with the loan so score should really jump. Then try for a re-fi cash out