@Anonymous wrote:
When I add addtinal card holder it requires for their Social security card. When I add does it affect mine or their score ?
When you add an AU the TL reports for the AU (in cases where the creditor/product reports for AU's). Nothing changes on the original cardholder's report. Any scoring model uses the data in a report. Therefore there's no scoring impact to the original cardholder. Potential from the AU would be if the AU was given the card and racked up charges that increased revolving utilization on the account and/or incurred debt that the original cardholder could not pay, incurring derogs.
@Anonymous wrote:
Also if I have perfect payment record and my credit goes up, does it also affect the other card holders credit as well in a positive way ?
If the TL reports for the AU and the TL is considered (they are not in all cases) then the TL will be factored in. Postive Payment History helps and it is the biggest factor but it is not the only factor to consider:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
Impact is going to depend on the credit profile of each and the specifics of the TL. I.e. you can't assume that if your score changes X points that it will also change X points for the AU.
@Anonymous wrote:
Vice versa, if the payment is bad does it affect all our credit score on negative way ?
When the TL is considered it is basically considered like any other TL (though creditors are certainly aware when one is an AU versus the original account holder as it is indicated on the report). It works both ways. Being an AU is not necesarily of benefit in and of itself. Again, it depends on the specifics of the TL. Negative Payment History, high Revolving Utilization, a new account, etc are generally not helpful where postive Payment History, low Revolving Utilization and older accounts are generally helpful.
@Anonymous wrote:
if this is true, can this help my mom who has bad credit ?
It may help in some cases but she will need to build her own TL's and work on addressing the issues with her credit. She cannot solely rely on being an AU to resolve her credit problems. If she has derogs then she's going to need to see what she can do to address them and hopefully get them removed. As long as she has any reporting they are likely to have a significant impact and hold her down even if she's an AU on some stellar TL's. The impact of derogs is why we always recommend addressing them first.
