evan wrote:
My fiance is making me an authorized user today on her credit card at nasa federal credit union. The limit is 12,000, comes with a 5% APR, which is amazing, she's had the card for about a year, currently there's about $5,000 usage on it that we're going to pay off together and she's never been late on a payment. She's putting me on there so I may take advantage of an increase of a credit score by piggy backing off of her as an authorized user to her card. I currently have a 637 FICO score (april 2006 I had a 490) and anticipating a 700 with all my activity I've been doing by the end of the year. How successful has this trick been to people on this forum? I'm interested to hearing your stories so I may know what to expect!
Thanks so much,
Evan
While the AUs will not be recognized by ONE CRA in Sept... FI insiders have said that most lenders will NOT be utilizing the new model for upwards of a year... So the AU startegy is still a viable option.
That being said - It will have a SIGNIFICANTLY POSITIVE impact when you're added, and even more for you both if you pay it down to below $1200.
Good Luck.
Rob
