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Authorized user benefits

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Authorized user benefits

I was wondering what information would show up on MY CR if I'm added as an AU? I've gotten conflicting information, so I'm hoping one of you fine folks can straighten me out! Thanks in advance!
Message 1 of 14
13 REPLIES 13
Frequent Contributor

Re: Authorized user benefits

It shows the same way as if you were the account holder. DH is AU on all my accounts and I don't see a difference in reporting.

Message 2 of 14
Member

Re: Authorized user benefits

Thank you! I've also heard that the impact is "watered down, so to speak...is that true?
Message 3 of 14
Valued Contributor

Re: Authorized user benefits

Welcome to the forums! I'm unaware of the info showing up differently. It will still effect your reports just the same as if you were the primary cardholder.
                               

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 4 of 14
Member

Re: Authorized user benefits

 

As far as what information shows up it will report as a new account added. The credit line, balance, and original date the card was opened will all appear on your report and under your name.

In addition, if the person who adds you as an authorized user misses a payment or carries a high balance this will also reflect on your report as if it is you.

However, the credit card inquiry will not show on your report.

In my wallet: Chase Freedom, Discover it Chrome, American Express, Capital One Platinum, Citi Bank Diamond Preferred,
Gardening


Current Fico 800
Message 5 of 14
Member

Re: Authorized user benefits

OK, so let's say my aaoa is 3 years. If I'm added to an account that's 17 years old, would my aaoa change to closer to 10 years? Would the other persons available credit show on MY report? (For utilization purposes) thanks!!
Message 6 of 14
Valued Contributor

Re: Authorized user benefits

Yes the available CL would show on YOUR report...
Isn't THAT the point of ADDING the account in the 1st place?

You are piggybacking a ride on said account, for all intensive purposes that account is added and evaluated in with rest of the accounts reported on your account.

The lender that sends im the info doesn't take any Extra the to put a bow on for you it's just a ditto of the primary account, the only real difference from a co-worker or joint is its says AU vs joint....again regarding reporting
Message 7 of 14
Valued Contributor

Re: Authorized user benefits

This can be done for anyone right? Doesn't matter if it's a friend or family member?

 

One thing that I've read is not all lenders will report the account. It's usually reported if they ask for a SS#.  Some CC companies don't ask for that. 

Cap 1 - $23,000 / Barclay Apple Rewards - $18,000 / Lowe’s - $17,000 / Cap 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / JC Penney - $10,000 / Discover IT - $9700 / Discover IT - $7500
NFCU - $7300 / Barclay Rewards - $5400 / DCU - $5,000 / Merrick - $2400 - Total - $157,300

EQ - 769 / TU - 766 / EX - 759
Message 8 of 14
Valued Contributor

Re: Authorized user benefits

To address your question... kinda

1) Technically, yeah anybody can piggyback..., especially with regards to the older scoring models.

However BECAUSE of this issue some changes have been made with the scoring model, hoq UWers internally vet profiles with AUs and how/ particular vendors even REPORT a/u accounts.

Overall it became the wild wild west, even today you'll see ads for ppl to 'try' their good credit out to strangers and vice versa you'll see ads to buy 'tradelines'....

So it's muddy right now...at BEST even if the person is a family member it's a toss up.

A) Some vendors will accept a AU on an account no problem but turn around and NOT report to CRAs regarding the AU....and honesty they don't have a relationship with the AU, so many night feel it's an expense and responsibility they don't have to do for a non client.

B) My biggest concern personally would be the sharing of MY personal info with WHO knows.. because obviously you gotta give up your info but the account holder doesn't have share info with, obviously this isn't an issue if it's family but some ghost on Craigslist really?

What happens when 'these pl' whomever they are or their pals need an I.D. or whatever to get cable or Direct TV or if they fall on hard times, don't they have all YOUR info?

They were shady enough to rent their credit to strangers and you think your info is SAFE in their hands? There is a bridge in NY I can get you a good price, if you are comfortable with that nonsense.

Lastly, any manual review process may turn into a nightmare because now the individual HUMAN being, much like I've had to in the past, has to determine how much weight to give or ignore the credit score aided by a now corrupt ( in the UWers mind) credit score.

And that could be bad news for the applicant...think of it from an UWer POV
Ok here is a score you're gonna basically ignore because you can't attribute the payment history to THIS applicant now you have to GUESS how much juice to give to THIS person alone and we all know some ppl are going to be conversation and you're screwed, others aren't taking chances on approving what may be a ish file with their name on it, so the file is subject to a fine tooth comb looking for a way to say No or approved with minimal liability.

AU juice looks best for instant auto approvals with light UW standards anything else is gonna bring more scrutiny, as it should, especially if the relationship doesn't make sense.
Message 9 of 14
Valued Contributor

Re: Authorized user benefits

Thanks for the detailed reply.  I never knew that people goto the extreme of paying someone to add them as an AU. It's extremely rare that I would add someone to one of my cards. If I do (never have yet), it will be someone that I've very close to and that I trust.  And even though, I wouldn't give them the card. It would be a little help to get them going but not that much help.

Cap 1 - $23,000 / Barclay Apple Rewards - $18,000 / Lowe’s - $17,000 / Cap 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / JC Penney - $10,000 / Discover IT - $9700 / Discover IT - $7500
NFCU - $7300 / Barclay Rewards - $5400 / DCU - $5,000 / Merrick - $2400 - Total - $157,300

EQ - 769 / TU - 766 / EX - 759
Message 10 of 14
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