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!
Same info but it will indicate that you are an authorized user versus the original account holder.
Thank you! I've also heard that the impact is "watered down, so to speak...is that true?
Depends on the scoring model the CRA and other details regarding the AU and the original account holder. Some models and creditors may disregard TL's where one is an AU. Some models have anti-piggybacking algorithms though we really don't have the details on how they work.
Thanks, everyone for your input! I'm really trying to improve my credit image-- I'm going from no cc, tons of significantly late student loan payments, collections, and generally not caring (my score when I started working on it was about 483...)
If the TL is in good shape then it probably won't hurt to add yourself as a TU but you really have to focus on building your own TL's.
If you have derogs then you need to get to work on addressing them. Carefully research in the Rebuilding subforum and see if you can do anything to address them. As long as they are on your reports they will drag you down. You do want to make positive progress going forward but you need to have these removed whether you are able to get them removed or they fall off over time. Definitely make sure that all payments are on time going forward. Avoid incurring any more derogs. Your reports need to be totally clean.
I think I know the answer to this question but just checking.
Adding a friend to my account as an authorized user. Her negative credit won't affect mine, right?
Just making sure