adding an authorized user

[Anonymous]

Hello myfico. I am a new member here. I just wanted your guys opinion on something. I have a score of 770 for the quarterly myfico report. I wanted to add my girlfriend as an authorized user to one of my credit cards.

I have a chase sapphire 9k limit and 3years old card

I just opened a new card. The chase sapphire preferred with 13.6k limit

Which would be best to add my girlfriend to? Also, if I add her it without a social security number it wouldn't report it would it? Do they normally ask for the others social security number? One last final question. If I do add her and wanting to remove her as an authorized user, would it be a simple process to kick her off my account? Thanks

[BearsAndTurtlesRtheBest]

Yes I would add her to your oldest acct with is the Chase Sapphire with 3years of histopry that way she can gain those 3 years of credit, and yes you can always remove her by calling Chase and as soon as you do this your gf can contact the Credit Bureaus and tell tham that she would like to remove these accts from her credit report because she is no longer responsible of them or was removed as an Authroized user.

[Anonymous]

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@Anonymous wrote:
Hello myfico. I am a new member here. I just wanted your guys opinion on something. I have a score of 770 for the quarterly myfico report. I wanted to add my girlfriend as an authorized user to one of my credit cards.

I have a chase sapphire 9k limit and 3years old card

I just opened a new card. The chase sapphire preferred with 13.6k limit

Which would be best to add my girlfriend to? Also, if I add her it without a social security number it wouldn't report it would it? Do they normally ask for the others social security number? One last final question. If I do add her and wanting to remove her as an authorized user, would it be a simple process to kick her off my account? Thanks

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There are no lates or high balances correct?

[BearsAndTurtlesRtheBest]

+1 to guiness56 make sure your acct is is good standing b4 adding.

[09Lexie]

Assuming your oldest account has a good pyt history and low util, I would choose the CS. When my DH received his CSP last month they asked for my soc sec number. When the cards came the welcome kit included the following verbiage on authorized users:

'If you request, we may issue cards that access your account to your authorized users. If you wish to terminate an authorized user, we may close your account and open a new account with a different account number.'

Obviously, its a YMMV but if you are at all thinking its a possibility if removing her- I would consider the possibility of new card. It does not state if they keep the history or just give you a new TL.

[Anonymous]

Yes everything is perfect. About 15% utilization never a late payment. I just want to add her to my CSP because its made of metal. My sapphire is normal but longer credit history. Would it make a huge difference between the two? Thanks you all

[09Lexie]

Which is better would depend on what you are trying to accomplish. The longer history would be 'better' if you trying to help her establish or build credit quickly. If you are just going with the aesthetics, then the metal CSP.

[flan]

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@09Lexie wrote:
Which is better would depend on what you are trying to accomplish. The longer history would be 'better' if you trying to help her establish or build credit quickly. If you are just going with the aesthetics, then the metal CSP.

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CSP is better if you're after UR points, too.  Or if she's going to travel abroad. 

[RobertEG]

Provided you dont authorize or give the AU access to a card and use of the account, it wont impact you.

However, I would be certain to advise her of the potential negatives on her side in having your history post to her report.

Obviously, she has no control should the account go sour until she gets the AU account removed.

Additionally, assuming addition of your history to her report will improve her score, that is beneficial for most applications for credit that involve approval based primarily or solely upon her credit score.  It is thus a great tool to build or rebuild credit at low CLs or principal amounts of credt.

However, as the level of credit eventually being sought rises, creditors are more apt to additionally do a manual review of her credit report as part of their determination.

Seeng the reporting of the history of another posted to her report immediately tells them that her score is not representative of only her history.

Should they desire to see a score that reflects only her own accounts, and thus risk assessment, they are out in the cold.

They cannot "back out" single accounts from scoring.

Does she plan on apping for credit that, in the immediate future, is likely to include a manual review of her report?

Thus, in my opinion, once past the use of AU status for building, it is prudent to consider terminating the AU status.  I could become a liability.