Adding user for mortgage.

[cjane1]

Hi all,

     We are going to apply for mortgage loan next month but my husbands score needs to be about 20 points higher for a better interest rate, I am not working and it will be based on his income. Would adding him as an authorized user on my Discover card help?  My card has about 6% utilization and has perfect payment history.  All of our credit cards are paid off  except my Discover and I can pay it off now. Will adding him as an authorized user affect negatively while trying for a mortgage loan?

[Anonymous]

Yes. If this is the only card of his reflecting a balance I believe it would optimize his score by leaving a small balance on it. My SIL added me as an AU to her BoA Card with 11 years of perfect payment history and 9% utilization. I received a 25 pt bump but YMMV. Good luck!

[Anonymous]

Yes, no, maybe. It really depends on the number of, and the ages of any of his other accounts. Without additional information its hard to say. I ask because you will want to raise the average age of accts not lower them.

[me12345]

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@cjane1 wrote:

Hi all,

     We are going to apply for mortgage loan next month but my husbands score needs to be about 20 points higher for a better interest rate, I am not working and it will be based on his income. Would adding him as an authorized user on my Discover card help?  My card has about 6% utilization and has perfect payment history.  All of our credit cards are paid off  except my Discover and I can pay it off now. Will adding him as an authorized user affect negatively while trying for a mortgage loan?

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Based on the limited information that you provided, I would say yes it would help, how much? you would have to wait and see to find out.  However, I don't really see a down side to it....I would do it.

Thanks,