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How much will adding a credit card as authorized user help score?

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Anonymous
Not applicable

How much will adding a credit card as authorized user help score?

My fiance and I are going to buying a home in the near future and I have just added her to my Jared account that I have had for 5 years with perfect pay history. What kind of a jump in her score could we potentially see because of her being added as an authorized user? 

 

Thanks 

Chris 

Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: How much will adding a credit card as authorized user help score?

This question is asked all the time. I asked it myself last year. 

IMHO, it's a great jumpstart.  My mom added me on her Discover last fall. It had a ~$14000 CL, ~$600 balance, and perfect history since 1999. It was all I needed to start getting my own approvals.  

Message 2 of 10
Cookie2120987
Frequent Contributor

Re: How much will adding a credit card as authorized user help score?

Added my dad as a AU to my cap one secured with a 520 limit. His Transunion went up after pulling a score 194 points to 716

 

He got pre approval for both venture but he took the one and quicksilver. Being a AU really helps if they have the right address and everything. the only way for sure reporting as has been discussed in another thread is giving them a full social. My soon to be ex-wives walmart reported on hers due to same address while my brothers never showed because of different address

Message 3 of 10
newhis
Valued Contributor

Re: How much will adding a credit card as authorized user help score?

Just remember that Amex AUs will report as new accounts, so it will not help with AAoA and perfect payment history.

 

Is funny that Amex used to backdate new accounts (the only creditor that did that) and now (AFAIK) is the only creditor that report AU as new accounts and not the same open date as the main cardholder.

Message 4 of 10
Peter1142
Established Contributor

Re: How much will adding a credit card as authorized user help score?

As I understand, credit cards do not typically backdate AU accounts anymore. Also, FICO 8 has been ignoring many AU accounts via secret formula. So likely it won't help much if at all.

Message 5 of 10
Anonymous
Not applicable

Re: How much will adding a credit card as authorized user help score?


@Peter1142 wrote:

As I understand, credit cards do not typically backdate AU accounts anymore. Also, FICO 8 has been ignoring many AU accounts via secret formula. So likely it won't help much if at all.


I was an AU on two cards with an extensive history before getting my personal card in Feb 2014.  When BoA pulled my score, my EX was ~760.  I'd say that AU cards definitely help your Fico 08

Message 6 of 10
newhis
Valued Contributor

Re: How much will adding a credit card as authorized user help score?


@Anonymous wrote:

@Peter1142 wrote:

As I understand, credit cards do not typically backdate AU accounts anymore. Also, FICO 8 has been ignoring many AU accounts via secret formula. So likely it won't help much if at all.


I was an AU on two cards with an extensive history before getting my personal card in Feb 2014.  When BoA pulled my score, my EX was ~760.  I'd say that AU cards definitely help your Fico 08


+1

 

I read that some lenders won't give you a card if you don't have already your own cards, but others give cards based only on AU cards and limits. There are reports in the forum from people getting their first credit card with 4k limit or more and only have AUs on their reports.

Message 7 of 10
Peter1142
Established Contributor

Re: How much will adding a credit card as authorized user help score?

Well, FICO '08 appears to be ignoring my AU accounts, so I would definitely say YMMV.


@Anonymous wrote:

@Peter1142 wrote:

As I understand, credit cards do not typically backdate AU accounts anymore. Also, FICO 8 has been ignoring many AU accounts via secret formula. So likely it won't help much if at all.


I was an AU on two cards with an extensive history before getting my personal card in Feb 2014.  When BoA pulled my score, my EX was ~760.  I'd say that AU cards definitely help your Fico 08


 

Message 8 of 10
Anonymous
Not applicable

Re: How much will adding a credit card as authorized user help score?

My GF had credit scores hovering around 680 before I added her as AU on my $18k CSP and $10k AMEX ED.  They jumped up to 725 or more on all three afterwards.  That's the difference I've seen.  

Message 9 of 10
Cookie2120987
Frequent Contributor

Re: How much will adding a credit card as authorized user help score?

Discover denied my dad due to no physical credit cards in his name and only being a AU on mine. being a AU does improve score and utilization
Message 10 of 10
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