Adding an authorized user

[Anonymous]

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

[LS2982]

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

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Has nothing to do about the primary accountholders high credit score. It has everything to do with the balance on the account,how long it has been opened, and payment history.

There is nothing wrong with getting an AU account but its best not to abuse it with a bunch of them.

[pizzadude]

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

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FICO at one point considered dropping AU accounts but decided not to.   They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

[webhopper]

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

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I added my DH as an AU on my Discover...  gave him 13 yrs of spotless history for free and raised his score by 100 pts.  He didn't borrow my score, he just borrowed my history on that account

[Anonymous]

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@pizzadude wrote:

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

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FICO at one point considered dropping AU accounts but decided not to.   They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

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Hmmm, are you saying that AU possible poor history can be my history?

[pizzadude]

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@Anonymous wrote:

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@pizzadude wrote:

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

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FICO at one point considered dropping AU accounts but decided not to.   They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

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Hmmm, are you saying that AU possible poor history can be my history?

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Yep.  When you are added as an AU, the payment history on the account becomes your history.   So you wouldn't want to be an AU on any accounts with negatives such as late payments, or high utilization, etc....

[SwiftTone]

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@webhopper wrote:

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

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I added my DH as an AU on my Discover...  gave him 13 yrs of spotless history for free and raised his score by 100 pts.  He didn't borrow my score, he just borrowed my history on that account

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So on his CR, does it say when he was added as a AU? I'm just wondering if creditors can tell if he was added as a AU when the account opened, or much later.

[Anonymous]

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@pizzadude wrote:

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@Anonymous wrote:

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@pizzadude wrote:

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

---

FICO at one point considered dropping AU accounts but decided not to.   They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

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Hmmm, are you saying that AU possible poor history can be my history?

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Yep.  When you are added as an AU, the payment history on the account becomes your history.   So you wouldn't want to be an AU on any accounts with negatives such as late payments, or high utilization, etc....

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Well, it would be the other way.  A friend asked if they could be added as a AU to help raise their credit score.  I don't know what their's is but mine is over 800.  Wouldn't want to cause a drop in my own credit score.

[LS2982]

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@pizzadude wrote:

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@Anonymous wrote:

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@pizzadude wrote:

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@Anonymous wrote:

I understand that a while back one could raise their credit score by being added as an autorized user of the credit card owner had a high credit score.  I've read old posts around that this practice no long works or was to be stopped from happening soon.  The later may have took place by now.

---

FICO at one point considered dropping AU accounts but decided not to.   They are factored into your score, and viewed in the same way as if they were your own accounts.

There are several non~FICO scores that exclude AU accounts however.

---

Hmmm, are you saying that AU possible poor history can be my history?

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Yep.  When you are added as an AU, the payment history on the account becomes your history.   So you wouldn't want to be an AU on any accounts with negatives such as late payments, or high utilization, etc....

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+1

[Creditaddict]

I can't tell if everyone is on the same page with this one.

Lets say you have 800 Fico and a $10k line with bank z

You had a friend to your account because they have no credit or they have a 500 Fico.  The account "Most of the time and with most banks" will start reporting to that persons credit that was added.  You as the person with perfect credit will not be affected by the person you added to the account and their terrible credit unless you let them have a card and they max it out and you can't or don't want to pay!

Just don't give them a card... they won't be able to call in and order one without your info.