cancel
Showing results for 
Search instead for 
Did you mean: 

authorized users

weezy615
Member

authorized users

I just filed for Chapter 7 last week and have my meeting at the end of June.  After all my Credit card debt gets wiped out should I have my mom add me as an authorized user to her Discover card to help my credit ? Would that help in raising my score faster? Any Tips and pointers are appreciated. Thanks in advance!

Message 1 of 4
3 REPLIES 3
Justme79
Frequent Contributor

Re: authorized users

@weezy615 - As long as she's had the account for a few years, with perfect history and the balance is below 30%

Chapter 13
Date filed: 3/17/20
Meeting of the creditors (341): 5/20/20
Confirmation hearing: 6/11/2020
Deadline for filing claims: 6/17/20
Plan confirmed: 7/2/2020
Deadline for filing claims (Government): 9/14/20

Scores as of 05/08/21 (MyFICO Monthly Subscription/updates on the 8th of every month)
Equifax 666
Transunion 634
Experian 637

Open Accounts
Great Lakes (Student Loan) Pd Never Late - Perfect History/will not update until PIF $3,750 balance at $140 per month
Target (Survived Bankruptcy) Pd Never Late - Perfect History $2,300 limit/$0.00 Balance
Cartier (Survived Bankruptcy) Pd Never Late - Perfect History $8,000 limit/$0.00 Balance
NFCU Amex (AU) $25K limit/$10K balance (removing soon)
NFCU Secured Card (Trustee Approved) Card Graduated to NFCU Cash Rewards (Unsecured) $2K limit/will PIF each month before statement cuts
TD Bank Secured Card $500 limit/will PIF each month before statement cuts

All closed accounts are reporting correctly with $0.00 balance

Message 2 of 4
weezy615
Member

Re: authorized users

Yeah the account is 15 years old and has under 10% Utilization!


@Justme79 wrote:

@weezy615 - As long as she's had the account for a few years, with perfect history and the balance is below 30%


 

Message 3 of 4
FireMedic1
Super Contributor

Re: authorized users

You'll need to get some cards on your own as the primary card holder. AU's isnt a quick fix. Some companies dont even report them. Anything below 28% and then 8% is the magic %. 30% is over the 28% threshold.





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.