@Anonymous wrote:I'm currently 20 years old with 2 months of credit history, and I currently want the Chase Freedom for the $200 signup bonus this month, which I understand needs around 12 months of history to be approved. However, my parents have excellent credit, and if they add me as an authorized user, will that show up as "my" credit account? I'm not exactly sure how it works, and would love it it someone let me know what that really does.
Thanks
You could add an AU account you want ones that are older and have very little balance on them. They will report as AU account (if they report at all). Lenders tend to discount AUs on apps for new credit you would need to qualify on the strength of your own accounts, Chase is one that will exclude AUs from new account considerations. Welcome to the board 
Hey Kiproter!
There is always a lot of debate on here about this. I will tell you my experience with AU. I am a big proponent of adding someone (my family members) as a AU to give them a jump start. Here is how it may help you. Being added as a AU will help you with AAoA, utility and CL experience for UW, if added to the right accounts. The idea is this: being added should get you over the minimum thresholds for AAoA, utility and internal experience with certain CLs. With this in mind... you want to be added to an account that has a very low balance being reported, a good long history and a decent CL. If you accomplish these things as a AU, then you should be able to get instant approval status for applied accounts. If you do not however accomplish getting to the minimum UW requirements for the desired card, it will likely go to manual review and the analyst will see most assuredly the AU accounts as not yours. I have had great success with this helping my family members establish credit with Chase, Amex, Barclays and CapOne in their own name. A note for info... if you are added as a Amex AU, you will not glean the AAoA because it reports as a new account to your report instead of the original open date of the primary's. Hope this helps.
Starting Score: 642
@fot1 wrote:Different credit card companies report AU differently Have to do research on which ones report how.. Also looks like the newr fico scores are discounting the effect of AU accounts.
As it should.
I for one have never agreed with getting piggy backed by someone else's credit.
Maybe I'm just bitter because my Mom told me to start at the bottom and work my way up like she did...
@TRC_WA wrote:
@fot1 wrote:Different credit card companies report AU differently Have to do research on which ones report how.. Also looks like the newr fico scores are discounting the effect of AU accounts.
As it should.
I for one have never agreed with getting piggy backed by someone else's credit.
Maybe I'm just bitter because my Mom told me to start at the bottom and work my way up like she did...
lol... I feel this way about cars and getting them handed to you instead of buying the first one yourself. I guess I'm bitter too.
Edited for a smiley face...
@improvingmycredit wrote:
@TRC_WA wrote:
@fot1 wrote:Different credit card companies report AU differently Have to do research on which ones report how.. Also looks like the newr fico scores are discounting the effect of AU accounts.
As it should.
I for one have never agreed with getting piggy backed by someone else's credit.
Maybe I'm just bitter because my Mom told me to start at the bottom and work my way up like she did...
lol... I feel this way about cars and getting them handed to you instead of buying the first one yourself. I guess I'm bitter too.
Edited for a smiley face...
Good thing is my rebuilding process (due to extended layoff in 2008-2009) is going well and I had no one that could or would add me as an AU... so I had to do it myself.
@TRC_WA wrote:
@improvingmycredit wrote:
@TRC_WA wrote:
@fot1 wrote:Different credit card companies report AU differently Have to do research on which ones report how.. Also looks like the newr fico scores are discounting the effect of AU accounts.
As it should.
I for one have never agreed with getting piggy backed by someone else's credit.
Maybe I'm just bitter because my Mom told me to start at the bottom and work my way up like she did...
lol... I feel this way about cars and getting them handed to you instead of buying the first one yourself. I guess I'm bitter too.
Edited for a smiley face...
Good thing is my rebuilding process (due to extended layoff in 2008-2009) is going well and I had no one that could or would add me as an AU... so I had to do it myself.
I started actively rebuilding in and around 04/2011. My score was 580 when I started reading these forums and in 07/2011, I started posting and joined the FICO Fitness Challenge with a score of EQ 642. It wasn't easy and I was diligent just as you have been. You should be very proud of yourself! Keep onward and upward! Thanks for your participation and knowledge. Everyone's opinion counts and is just as important as the next! Please don't forget to share your experiences and help the next .
Edit: corrected figures. Sry