Credit Card Authorized User Question

[Anonymous]

Hello...

I'm trying to build up my credit right now and my husband has a bad credit from his bachelor days, child support etc. and right now he's not using any cc because of that reasons. My question is: Can I request for another card for him as an authorized user under my cc account and by doing that, does it affect my credit score and how?
I need an advise please. Thanks.

[Anonymous]

EX has stopped reporting AU's

TU and EQ will stop in JAN 2008

There is still time, but CC may not report for 60 to 90 days. so basicaly you're late.

You may still try but ......no guarantee.

Good luck.

[fused]

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montana wrote:

EX has stopped reporting AU's

TU and EQ will stop in JAN 2008

There is still time, but CC may not report for 60 to 90 days. so basicaly you're late.

You may still try but ......no guarantee.

Good luck.

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This is not true! All three CRAs are still reporting and factoring AUs in their scoring models...this includes FICO.

[Anonymous]

no fused. My statement was true. Yours isn't.

[fused]

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montana wrote:

no fused. My statement was true. Yours isn't.

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FICO 2008 has not been launched! AU accounts are still factoring in scoring.

[jackg]

Experian has NOT ceased reporting AU accounts and despite every rumor you hear: belive it when you see it.

I suggest she go ahead, you don't know what might happen.

[Anonymous]

Basically my question is this: Adding my husband as an AU under my account will affect my credit score since he has a bad credit....am I right? Anybody can advise? Thanks!

[fused]

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McIvay wrote:
Basically my question is this: Adding my husband as an AU under my account will affect my credit score since he has a bad credit....am I right? Anybody can advise? Thanks!

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Sorry I didn't answer this question. No it will not hurt your credit scores so long as the account is always paid on time and you keep the CC reporting utilization between 1-9% for max FICO points. Example: credit limit 5K, reporting balance $400...5K/400 = 8%. If you do these things I see no problem. Just make sure hubby doesn't go overboard because if he does that will definitely hurt your scores. He's not responsible for payments, you are!

[Anonymous]

the way i understand it he get the good, because your good habits are on his file. you don't get the bad because none of his baddies are attached to your file. simply put, if your on it your responsible and can be harmed or rewarded. so if you aren't on any of his bads you won't get dingged.

[Anonymous]

Well said Guys...thanks so much!