Authorized User question

[Poquelin]

Good Evening all,

If I become an authorized user on my wife's credit cards (2 of them) Do I inherit her baddies.

Reason I'm asking is I just paid off both of them and we were putting them away for a while. I made her an authorized user on one of mine which has a much higher credit limit than both of hers combined. However, her 2 cards have been opened much longer than any of mine. So I thought I could increase my AVERAGE AGE OF ACCOUNTS by becoming and authorized user. 

However, she's had some lates in the past. If I become an authorized user, WIll her previous lates reflect on my credit score? 

Thanks in advance for the information

Poquelin

[Anonymous]

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@Poquelin wrote:

Good Evening all,

If I become an authorized user on my wife's credit cards (2 of them) Do I inherit her baddies.

Reason I'm asking is I just paid off both of them and we were putting them away for a while. I made her an authorized user on one of mine which has a much higher credit limit than both of hers combined. However, her 2 cards have been opened much longer than any of mine. So I thought I could increase my AVERAGE AGE OF ACCOUNTS by becoming and authorized user. 

However, she's had some lates in the past. If I become an authorized user, WIll her previous lates reflect on my credit score? 

Thanks in advance for the information

Poquelin

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No.

You only get history from after your being added.

Her UTL = Yours...to an extent.

[Poquelin]

Okay, Great Thank you!

That was the other thing I was hoping to accomplish. Since her cards will be paid off, by becoming an authorized user, I thought that will also help me lower my utilization rate as well as increasing my AAoA.

Thank you for the information.

Poquelin

[Anonymous]

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@Poquelin wrote:

Okay, Great Thank you!

That was the other thing I was hoping to accomplish. Since her cards will be paid off, by becoming an authorized user, I thought that will also help me lower my utilization rate as well as increasing my AAoA.

Thank you for the information.

Poquelin

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It won't increase your AAoA.

You can't take the good without the bad.

No baddies, no aging.

You'll get the UTL aspect of it, and generally it'll fool a computer. But it won't fool a manual review.

[Poquelin]

Got it! Thank you,

At least I'll benefit from the lower utilization then. 

Thank you,

Poquelin

[MarineVietVet]

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@Poquelin wrote:

Good Evening all,

If I become an authorized user on my wife's credit cards (2 of them) Do I inherit her baddies.

Reason I'm asking is I just paid off both of them and we were putting them away for a while. I made her an authorized user on one of mine which has a much higher credit limit than both of hers combined. However, her 2 cards have been opened much longer than any of mine. So I thought I could increase my AVERAGE AGE OF ACCOUNTS by becoming and authorized user. 

However, she's had some lates in the past. If I become an authorized user, WIll her previous lates reflect on my credit score? 

Thanks in advance for the information

Poquelin

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Yes it can help you IF the account is older than any of yours (older than your current AAoA is even better), IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account both good and bad. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.

[Poquelin]

Thank you.

The accounts are older than mine. I just checked my wife's credit reports and she has some lates but not on these 2 accounts and the cards have just been paid off and we're putting them away for a while. So it should be alright.

Thank you for the information.

Poquelin

[Anonymous]

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@Poquelin wrote:

Thank you.

The accounts are older than mine. I just checked my wife's credit reports and she has some lates but not on these 2 accounts and the cards have just been paid off and we're putting them away for a while. So it should be alright.

Thank you for the information.

Poquelin

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What companies will depend if you inherit payment history.

Discover seems to do so on a sporadic basis.

[takeshi74]

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@Poquelin wrote:

If I become an authorized user on my wife's credit cards (2 of them) Do I inherit her baddies.

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The tradeline will appear on your reports.  If there is negative payment history associated with the TL then you should expect that to appear as well.  Derogs affect Payment History.  Keep in mind that Payment History is 35% while AAoA (Length of Credit History) is only 15%.

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Also keep in mind that not all creditors and scoring models will factor in accounts where you're an AU. 

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@Anonymous wrote:

It won't increase your AAoA.

You can't take the good without the bad.

No baddies, no aging.

You'll get the UTL aspect of it, and generally it'll fool a computer. But it won't fool a manual review.

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I'm not sure I ujnderstand what Nixon is saying here.  If a creditor/scoring model doesn't discount accounts where one is an AU then all the usual factors are still at play for a tradeline that appears on an AU's report.  The tradeline just shows up as another account with all the same information as on the original cardholder's report.  Payment History, Utilization, AAoA, etc are affected.

[CreditCuriosity]

Does 08 model of scoring even put any emphasis on AU's?  I have heard multipe sides on this or less emphasis?  Sorry to kinda side track it with this question, but still kinda releveant.