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Hi,
I was curious if you are added to someone's Amex cc as an authorized user does it help you?
Thank you!
It helps your score if the primary account holder is in good standing and PIF or keep his/her credit usage low.
@Anonymous wrote:Hi,
I was curious if you are added to someone's Amex cc as an authorized user does it help you?
Thank you!
Yes it can help you IF the account is older than any of yours (older than your current AAoA is even better), IF the payment history is long and clean, IF the utilization is very low, and IF it will report to the CRA's. Not all cards will do this. You need to ask the company first. You will inherit the entire history of this account. One caveat however; if this account starts to go south your credit will be affected as well. Keep that in mind.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Thanks. Yes well its a family member with at least 15+ years of excellent credit. 700-800+.. I just dont see how i will ever get an Amex in the future with a BK... Just hoping to build eventually.
:::hopes:::
Also, I have 2 unsecurred credit cards, if anyone feels that a Securred credit card is extra helpful since you can build your credit line please let me know. Thank you.
Creditbyte;
Their personal credit rating is irrelevant. Just because their credit score is high, doesn't mean the balance on that card is low.
Prime example; my ex girlfriend was doing really well for herself. She had really low util in general, because she had high limits and low balance.. great credit score.. She added me on a card several years before we broke up, and it did nothing because she added me to the one card she carried higher balance on. She did this because she figured, well, its the card with the lowest amount of avail money so it saves us all..
It didn't help me at all.. haha
Lesson here: Make sure that CARD is carrying a low balance to limit ratio, don't worry about their credit score.
-scott