Quick Authorized User Question

[MBOhio2]

I’m working to pay down my credit card debt, but at this moment, my utilization is higher than I would like and it’s bringing down my credit score. I would like to refinance my mortgage to take advantage of the low rates. Currently, my score is just below 720.

Question - my husband has a Capital One with perfect payment history and a $0 balance. If he adds me as an authorized user, is there any chance it hurts me? Because of the $0 balance and perfect score history, I’m thinking that the only impact will be positive because it will bring down my utilization. Am I missing anything here? I only need a small bump to get me to 720 for the better refi rate. Thanks!!

[Remedios]

If it's an older card with limit that's high enough, it can help with scoring by lowering utilization. 

You should check with prospective lender though because a lot of them will require AU accounts be removed for mortgage and/or mortgage refinance so in the end, it might be in vain. 

[Anonymous]

Yes it can hurt you by lowering your average age accounts if it’s a young card relative to your AAOA.

[SuperKirby]

+2 to the other replies on here.

If it helps your AAOA, it will increase your score, if not it may lower it,

And like the other poster said, some lenders want you to take off all AU accounts so they can see your "real score".