My husband and I were talking about credit, and although he has good credit scores he has only 2 lines open; Our mortgage and a health care card so he applied for a Mastercard through his bank and was instantly approved for $20k.
My question is this; He put me as an authorized user of the card. I have read this slightly helps the AU on credit ratings, (I'm confused on how much though) but does this now count as a new account for me? I don't want to apply for any more credit if this counts as a new application for me and not just him.
@wmweeza wrote:My husband and I were talking about credit, and although he has good credit scores he has only 2 lines open; Our mortgage and a health care card so he applied for a Mastercard through his bank and was instantly approved for $20k.
My question is this; He put me as an authorized user of the card. I have read this slightly helps the AU on credit ratings, (I'm confused on how much though) but does this now count as a new account for me? I don't want to apply for any more credit if this counts as a new application for me and not just him.
It will be treated by scoring as a new account. It will drop your AAoA, it will help with your utilization.It will not be considered a new app against you. People usually become AU on cards that have some age...
He added me thinking "It's my wife, she might need this". I guess I'll go to the garden for 6 months then, thank you for the fast reply!