Authorized User Question (Adding & Removing)

[Anonymous]

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@MrsCHX wrote:

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@Kforce wrote:

@Anonymous wrote:

This is exactly what I was wondering about.

Does it report as a closed account?

Do you remember which bank does this?

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The older card was a 76-Union gas card.
The newest card was the Barclay-Sallie Mae.

I had closed each card, however my daughter was
an AU on the cards at the time that I closed the accounts.

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The other poster said they were removed vs the account being closed. If OP removes her as an AU, she will lose the account history. 

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Correct ... there is no trace of either of those accounts now on my reports. One was a Best Buy Visa ... the other was some Mastercard ... might have been a Cap 1 if I recall. 

[Anonymous]

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@Anonymous wrote:

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@MrsCHX wrote:

---

@Kforce wrote:

@Anonymous wrote:

This is exactly what I was wondering about.

Does it report as a closed account?

Do you remember which bank does this?

---

The older card was a 76-Union gas card.
The newest card was the Barclay-Sallie Mae.

I had closed each card, however my daughter was
an AU on the cards at the time that I closed the accounts.

---

The other poster said they were removed vs the account being closed. If OP removes her as an AU, she will lose the account history. 

---

Correct ... there is no trace of either of those accounts now on my reports. One was a Best Buy Visa ... the other was some Mastercard ... might have been a Cap 1 if I recall. 

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I see I see. I guess I'm just trying to find ways to cheese the system. Thanks everyone for your input!

[Revelate]

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@Anonymous wrote:

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@Anonymous wrote:

---

@MrsCHX wrote:

---

@Kforce wrote:

@Anonymous wrote:

This is exactly what I was wondering about.

Does it report as a closed account?

Do you remember which bank does this?

---

The older card was a 76-Union gas card.
The newest card was the Barclay-Sallie Mae.

I had closed each card, however my daughter was
an AU on the cards at the time that I closed the accounts.

---

The other poster said they were removed vs the account being closed. If OP removes her as an AU, she will lose the account history. 

---

Correct ... there is no trace of either of those accounts now on my reports. One was a Best Buy Visa ... the other was some Mastercard ... might have been a Cap 1 if I recall. 

---

I see I see. I guess I'm just trying to find ways to cheese the system. Thanks everyone for your input!

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The cheese is helping your friend get her initial credit file started.

If she's clean anyway, tack the AU on, open up call it 3 major credit cards and a share secured loan, pay down said SSL, don't run up the balances on the credit cards, and watch the score be 760 in a year anyway and 800 a year after that, and after two years she can get whatever credit card or anything else that she needs.

That's how it works on modern algorithms, you don't really need a long-term AU to make a big difference you just need to get the positive history gravy train started and then it's up to the individual not to screw up the pretty green OK's; if you want the long term AU, you add her, and then you leave her on it... assuming it's counted anyway under FICO 8/9 which it might not be, but you can always cheese it by opening up the intial couple of cards from lenders that are known to UW on the older algorithms.

If she's a dirty file, YMMV, and we'd need more information on how best to build if you haven't given that to her already.

[Anonymous]

I added my daughter as AU on my AMEX HH card in 07, even though I took her off a couple years ago it still reports that time and on her CR it shows positive (and until it reaches 10yrs from last report date). Unfortunately she has tanked her scores with multiple 120+ on her CCs. Today I added my 15 yr old to the same card. The agent (chat) was excellent and informed me that when he ages 18, AMEX HH will open a account in his name as long as account stays in good standing and low UTI. They will be sending out his card in 7-10 days. They did check his CR/SSN to make sure he has never "burned" them (that would have resulted in auto deny). I was asked what "limit" I wanted him to access, I am fine with full access because he will never actually get that card in his hands (lol). My goal was/is to help him build credit (as with DD) and not get stuck with "builder cards" when he turns 18

[Cherekas]

I actually went this route as well with my 16 year old soon, he turned 16 recently and I added him to an older card of mine. I will do the same when my daughter turns 16 next January. It actually helps them build credit now instead of waiting until they turn 18. I've actually started credit conversations with them so they understand the importance of using it correctly.