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Authorized User card to Increase Credit Score of parent with same name

gescob3
Established Member

Authorized User card to Increase Credit Score of parent with same name

for the longest time I had only one card a chase freedom since 2005. I now have 5 total cards that have been opened in the last two years and my average age of accounts has plunged. 

I asked my parents to add me onto their citi card they have had for 31 years which they did, but it is only showing up on my experian report. I actually have the same name as my dad who is also on the credit card as an authorized user as well. Any ideas of how to get the card to show up on my transunion and equifax reports?

Message 1 of 9
8 REPLIES 8
SOGGIE
Valued Contributor

Re: Authorized User card to Increase Credit Score of parent with same name

I take it both you and your father's credit profiles do not include name suffixes (Jr., Sr., III)? Did Citi require your SSN when your parents added you as an authorized user to their accounts?

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben

SCORES: Excellent · 830 to 848
INQUIRIES: 0
UNIVERSAL REVOLVERS: $200K Club
NUMBER OF CC ACCOUNTS: Less than 10
CARD USAGE: Minimal
CREDIT HISTORY: Very Lengthy · Seasoned Accounts
INCOME: Sufficient
UTIL: 1-2%
PYMTS: 100% Positive · Always PIF · AZEO
INSTALLMENTS: No thanks!
ASSETS: 100% Equity
TOTALLY REFUSE TO: Pay Interest or Annual Fees, Combine Accounts, Reduce Limits, Submit 4506-T, SCT, App Spree, Accumulate Inquiries, Do business with Comenity, Synchrony, Cap One, Wells Fargo, Citi, Barclays or any other credit-cancerous lending institutions
Message 2 of 9
gescob3
Established Member

Re: Authorized User card to Increase Credit Score of parent with same name

I think they didn't but I had my mom call on the phone and give it to them.

Message 3 of 9
SOGGIE
Valued Contributor

Re: Authorized User card to Increase Credit Score of parent with same name

Hopefully her call will resolve the matter. Just so you know, TU tends to report accounts slower than the other CRA's IMO.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben

SCORES: Excellent · 830 to 848
INQUIRIES: 0
UNIVERSAL REVOLVERS: $200K Club
NUMBER OF CC ACCOUNTS: Less than 10
CARD USAGE: Minimal
CREDIT HISTORY: Very Lengthy · Seasoned Accounts
INCOME: Sufficient
UTIL: 1-2%
PYMTS: 100% Positive · Always PIF · AZEO
INSTALLMENTS: No thanks!
ASSETS: 100% Equity
TOTALLY REFUSE TO: Pay Interest or Annual Fees, Combine Accounts, Reduce Limits, Submit 4506-T, SCT, App Spree, Accumulate Inquiries, Do business with Comenity, Synchrony, Cap One, Wells Fargo, Citi, Barclays or any other credit-cancerous lending institutions
Message 4 of 9
RonM21
Valued Contributor

Re: Authorized User card to Increase Credit Score of parent with same name

Good point Soggie. The bureaus do not all update at the same time, and TU has been known to take longer. It may just be that a bit more time is needed.
                

TCL: $306,100Utiliz: 6%AAoA: 5yrs 2mOther: Lease, Loan, *No MortgageCollections-Lates-BK's: 0

LWS-35k | BOA-50k | AMX-32.4k | DISC-33.6k | ALNT-25k | NFCU-33k | BARC-15k | BBUY-12k | CSE-10k | CP1-10k | CITI-11.7k | PF-38.4k


Message 5 of 9
takeshi74
Senior Contributor

Re: Authorized User card to Increase Credit Score of parent with same name

Being an AU probably won't hurt but don't expect it to solve all your problems even if you get them to report.  Accounts where one is an AU are not always considered by scoring models and creditors.  Definitely focus on building your own tradelines.

Message 6 of 9
RobertEG
Legendary Contributor

Re: Authorized User card to Increase Credit Score of parent with same name

And. while you may get a score boost, as long as the AU contributed to that scoring, the score is no longer representative of yur own personal risk assessment.

A prospective creditor, seeing the presence of an AU in your report, will be aware that the score is not based only on your risk assessment, and they cannot back out that account an obtain a score that does not include the AU.

 

It is best to have a score based only on your own accounts.

Message 7 of 9
gescob3
Established Member

Re: Authorized User card to Increase Credit Score of parent with same name

 
Message 8 of 9
gescob3
Established Member

Re: Authorized User card to Increase Credit Score of parent with same name

I'm not really sure what I can do. I think my account mix is A+ I have a 7 yr history of having mortgages and since I own alot of investment property I have about 950k in RE debt, 80k in student loans. 

 

I've never had a late payment on anything, but with my student loans they kept on switching it around from servicer to servicer so for open account the age is very low. On mortgages it has made business sense to refinance to pull out additional equity or to get lower rates. So even my mortgages aren't that old.

 

For credit cards I have my card from 05 with a limit of 10k, I also have an amex blue cash with 34k opened 7/15, citi double cash 25k limit opened 7/15 and a farmers card 16k opened 3/16, and a penfed gas card 24k limit opened 3/15.

 

It's not that I dont have a credit history its just that the average age of my open accounts is so low with the exception of that one card from 2005. My thinking was getting added to that 31yr old tradeline would change that a bit.


I really am only interested in my credit score use for residential mortgages which I believe is below. Does anyone know what these different versions look at and how they treat AU accounts?

 

FICO® Score 2
FICO® Score 5
FICO® Score 4

 

 

Message 9 of 9
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