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Authorized User Questions:

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Authorized User Questions:

I was recently added by a relative on a brand new Amex blue account. i have a 695 TU , with 100% pay history, 17% utilization but age of history only 1.8 yrs. I would like to know if being added as an AU for amex will boost my score  or just lower it due to new account being added and or could  it increase my chances of getting my own Amex soon.

 

second question: I also considered adding an AU to my capital one quicksilver acct . Another relative has a 695 TU 100 pay history (auto loan), N/A listed on utilization   N/A listed for age of credit history. He also has a charge-off from capital one 5 years ago. I cant seem to figure out if i can help raise his score and or if N/A on age of credit is better than 2 years. i think the would transfer on his to 17% as mine.???

 

any thoughts on first or second question.

6 REPLIES 6
Valued Contributor

Re: Authorized User Questions:

Welcome to the forums!

On your first question, it could go either way. Depends on your profile vs their stats of the new card. Things like utilization can play in to this. Because it won't help you on AAoA, you would get dinged there, but if the credit limit on the new account is high enough to bring down your utilization percentage enough, that can cancel out the ding from AAoA, and even add more points weighing heavier.
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


Message 2 of 7
Legendary Contributor

Re: Authorized User Questions:

The simple fact that the principal has a charge-off on the account would immediately preclude me from any interest in adding the account to my credit file.

Message 3 of 7

Re: Authorized User Questions:

Thanks for the input RM21,

I will report my update if anything significant occurs on my credit report.

Message 4 of 7

Re: Authorized User Questions:

Good Point RobertEG, charge-off difinetly brought apprehension into the decision making process.There are many precautions a person can take to aviod an charge-off. 

 

However, I noticed the family member struggle through negiotions with the collection company, a credit repair agency etc etc in the past 5 years. Trying to get back in the good graces of the credit system. I hope my emotions dont cloud my judgment but I think the "struggle forged" a new mindset and fulfilled its purpose.

 

 

Thanks again RobertEG for providing sound judgment

 

Message 5 of 7
Senior Contributor

Re: Authorized User Questions:

Whether or not the TL where one is an AU will have an impact depends on whether or not the TL is considered. TL's where one is an AU are not always considered by scoring models and creditors. As for whether the impact is positive or negative it's not just about the account itself but your credit profile and how it factors in -- like any other account basically.

 


@creditimprovementpuzzle wrote:

I was recently added by a relative on a brand new Amex blue account. i have a 695 TU , with 100% pay history, 17% utilization but age of history only 1.8 yrs. I would like to know if being added as an AU for amex will boost my score  or just lower it due to new account being added and or could  it increase my chances of getting my own Amex soon.

 

IIRC, AmEx doesn't use a TU score. Which scoring model are you referring to? It's not just the CRA that matters but the specific scoring model as well. If you want to know where you stand score wise with a creditor/product then you need to know the model & CRA used in the decision and go pull that score. However, keep in mind that it is never just about score. You can use resources like the Credit Pulls Database (Google to find) to find out which CRA and model is used by a given creditor/product. 100% Payment History is good. How does 17% affect your revolving utilization when factored in? Does it raise it or lower it? How does a brand new account have an age of 1.8 years? Again, it's a matter of how these factors factor into your profile. Does the age of the account raise or lower your AAoA?

 


@creditimprovementpuzzle wrote:

second question: I also considered adding an AU to my capital one quicksilver acct . Another relative has a 695 TU 100 pay history (auto loan), N/A listed on utilization   N/A listed for age of credit history. He also has a charge-off from capital one 5 years ago. I cant seem to figure out if i can help raise his score and or if N/A on age of credit is better than 2 years. i think the would transfer on his to 17% as mine.???


Same sort of considerations here. Again, impact only matters if the account where the person is an AU is actually considered and the account may not be in all cases. Being an AU may help in some cases but one really has to focus on building one's own tradelines. Identify the issues with your credit profile and see what you can do to address them.  Don't overlook the Rebuilding subforum and its stickies.

 


@creditimprovementpuzzle wrote:

Good Point RobertEG, charge-off difinetly brought apprehension into the decision making process.There are many precautions a person can take to aviod an charge-off. 


If you do want to add the relative as an AU you can do so and not provide the relative the card.  Again, though, the relative really needs to focus on idenitifying issues and addressing them.  A charge off is definitely something that relative should be working to address.

Message 6 of 7

Re: Authorized User Questions:

takeshi74 you are a great resource

 

 

 

Message 7 of 7
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