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Authorized User and Credit Length History

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CreditInspired
Community Leader
Super Contributor

Re: Authorized User and Credit Length History


@SouthJamaica wrote:

@Anonymous wrote:

Hello guys,


I started building my credit 2 years ago, so far it has been going great, my score was at 741 at one point but it has dropped recently because I opened a new account.

 

My payment history is exceptional and there is no negative things on my account but there is one drawback which seems to pull my whole credit report down with most lenders and that is - account length.

 

I have heard that it is possible to impact the lengt of credit history if somebody with long credit history adds you to their account.

 

Is there a way to do this and it would be greatly appreciathed because I will be looking into buying a house in the next year or two and I belive that this would have a great impact on the morgage interest rates lenders may offer me.

 

Thank you guys 


Bear in mind that with the passage of time, without new credit applications, your scores will go up, up, up. So if you can just be patient the length of your credit history will keep on increasing, without complicating your life by getting into authorized user arrangements.

 

I agree with @Anonymous that you shouldn't do it.


^^^ this times 100


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Message 11 of 29
Anonymous
Not applicable

Re: Authorized User and Credit Length History

All I am sharing is my opinion and what I wouldn't do based on several posts I read regarding being an AU on accounts. Let's all settle down.

Message 12 of 29
Anonymous
Not applicable

Re: Authorized User and Credit Length History

I just don’t feel exercising a reversible option has a risk.
Message 13 of 29
Anonymous
Not applicable

Re: Authorized User and Credit Length History

+1 to @CreditInspired ‘s post 10, but I would also add no new accounts, of course.
Message 14 of 29
CreditInspired
Community Leader
Super Contributor

Re: Authorized User and Credit Length History


@Anonymous wrote:
+1 to @CreditInspired ‘s post 10, but I would also add no new accounts, of course.

Good catch @Anonymous   Definitely no new accounts OP. 


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 15 of 29
KLEXH25
Valued Contributor

Re: Authorized User and Credit Length History


@Anonymous wrote:

Hello guys,


I started building my credit 2 years ago, so far it has been going great, my score was at 741 at one point but it has dropped recently because I opened a new account.

 

My payment history is exceptional and there is no negative things on my account but there is one drawback which seems to pull my whole credit report down with most lenders and that is - account length.

 

I have heard that it is possible to impact the lengt of credit history if somebody with long credit history adds you to their account.

 

Is there a way to do this and it would be greatly appreciathed because I will be looking into buying a house in the next year or two and I belive that this would have a great impact on the morgage interest rates lenders may offer me.

 

Thank you guys 


My credit age is shorter than yours and my scores are in the 750's - 760's, mortgage scores currently in the 730-740 range. My youngest account is almost 6 months. If I don't apply for anything in the next 1-2 years, my scores will only go up (assuming I continue to pay everything on time and keep utilization low). Although a long, thick credit profile is desirable, it's not necessary for a mortgage. Otherwise, no one in their 20's could ever get one. You'll be ok without being an AU. As someone mentioned, lenders will know your real account age without the AU account, and will likely not be taken into consideration anyway. Keep reading the forums, and you'll learn more than you could ever have possibly known on your own. 



Message 16 of 29
Anonymous
Not applicable

Re: Authorized User and Credit Length History

Thank you guys for sharing your thoguth and opinions with me!

I will take the advice which most of you guys advised: be patient, do not open any more accounts and keep paying my balance on time and wait for the score to jump up naturally with time.

 

Thank you once again , your answers are much appreciated! 

Message 17 of 29
CreditobsessedinFL
Established Contributor

Re: Authorized User and Credit Length History


@NimbusIII wrote:

@Anonymous wrote:

IMO, I wouldn't do it. Your rebuild is going well so far and I wouldn't rely on someone else's credit to build history. Just be patient, don't app for awhile and you'll develop history of your own. You're doing it already! I've seen several threads here where an individual was an AU on someone else's account and ended up paying for it down the line because the account holder began missing payments or having high utilization which is much worse on your CR than little rebuild history. Keep in mind, just as much as being an AU on an account can help your CR/scores is just as much as it can hurt given someone else's history or poor credit decisions in the future. Good luck!


As an authorized user you are and can not be held responsible for someone else's account. If the Primary party fails to pay, remove yourself from the Account and dispute the account with the credit agencies and it will be removed from your report within 31 days. It is not your account and they can not retain it on your account if you dispute it.  With anything comes risk, but this is a risk in which you have an advantage of protection if needed. 


Q directly relates to the response above to the AU question, so I wasn't sure whether a new thread would capture it properly and I tried to copy and paste it:

if you were an authorized user and the account fell behind 30/60/60 before being closed, can you still be removed and have those lates removed from your account, since you were only the authorized user?  Should you write GW letters to the lender since it is still on your report? The account was closed in 2016 but it was open and in good standing since 1993. The card holder is now 88 and no one realized at the time that payments were slipping and when we finally did, the account was closed. 

Message 18 of 29
Anonymous
Not applicable

Re: Authorized User and Credit Length History

@CreditobsessedinFL yes you can dispute those off easily because you had no responsibility.
Message 19 of 29
Anonymous
Not applicable

Re: Authorized User and Credit Length History

adding an AU only really helps your instascore .. for instant approvals

 

Message 20 of 29
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