Authorized User Questions.

[jcstarkey8826]

I was recently told that adding myself as an AU on a credit card with great history would improve my score, but then was told by lenders that being added as an AU did that in the past, but recently that changed and being an AU no longer improves your score.

Anyone recently been added as AU and had a score bump? Im wondering if they just wanted me to apply for my own (knowing I was rebuilding my credit I dont see why) or if this change has taken place??

Thanks guys!

[Anonymous]

My husband added me as an AU on his Cap one card. My score has gone up, but there were alot of other things going on at the time ie, deletions, new trade lines etc that could have been responsible for the increase. I do know that it made my file look better because before that card I had 0 trade lines.

[Anonymous]

I am in the same boat.  I asked both of my parents to put me on their cards just as an AU and that I would send them the cards or they could watch me destroy the cards via webcam. 

But I've read mixed reviews on being an AU, some say that scores will go up, some say they wont.  I only asked last week and am not sure if they have even been applied yet.

Will post back if it does

[jcstarkey8826]

so it shows on your CR, and did the history of that account come with it? I have a chance to do this, but dont want to do so if its not going to help. While the card is very trustworthy and history is clean, you NEVER know. And I only have a few tradelines, so i thought it might look better if the history came with the AU addition.

[jcstarkey8826]

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@Anonymous wrote:

I am in the same boat.  I asked both of my parents to put me on their cards just as an AU and that I would send them the cards or they could watch me destroy the cards via webcam. 

But I've read mixed reviews on being an AU, some say that scores will go up, some say they wont.  I only asked last week and am not sure if they have even been applied yet.

Will post back if it does

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exactly! I get such mixed reviews which is why im hoping for some real-life experience with it. Let me know how it goes and how it reports.

Thanks for the help

[Fresh101]

I would like to know this answer also. To my understanding it does not have any effect on the AU just the original account holder, but please note that some creditor allow accounts to switch to joint accounts, in this case it will increase on both members. People saying yes, that it will increase as AU, might have been switched by the company as joint and thats why they notice changes.

NOTE: The creditor have the ability to just update the account as joint without needing to close it and re-open a new one. Gd luck

[llecs]

Per FICO, AU CC accounts weigh the same as individual or joint accounts. They can be a great tool in rebuilding. At one point, the newest version of FICO (of which lenders seldom use anyway) was going to exclude AUs from scoring, but that never came to be. All of the account holder's history with the card will get transferred to you and your mix of credit can be improved as your CC util if that helps. Your FICO can certainly drop too if it contained derogs, hurts your overall CC util, or negatively impacts AAoA.

[rckstrscott]

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@llecs wrote:

Per FICO, AU CC accounts weigh the same as individual or joint accounts. They can be a great tool in rebuilding. At one point, the newest version of FICO (of which lenders seldom use anyway) was going to exclude AUs from scoring, but that never came to be. All of the account holder's history with the card will get transferred to you and your mix of credit can be improved as your CC util if that helps. Your FICO can certainly drop too if it contained derogs, hurts your overall CC util, or negatively impacts AAoA.

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Often, an underwriter for financing might omit those accounts, or ask you to remove them (like if you are getting a mortgage)

But WHILE rebuilding? Best tool I can think of to be honest... It 100 percent counts the same, and all factors of it come with it, such as util, AAoA ect ect

-scott

[jcstarkey8826]

That's all I wanted it for! Rebuilding. As I don't have a lot of derogs, I don't have much good either. Thanks for the help!

[Fresh101]

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@rckstrscott wrote:

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@llecs wrote:

Per FICO, AU CC accounts weigh the same as individual or joint accounts. They can be a great tool in rebuilding. At one point, the newest version of FICO (of which lenders seldom use anyway) was going to exclude AUs from scoring, but that never came to be. All of the account holder's history with the card will get transferred to you and your mix of credit can be improved as your CC util if that helps. Your FICO can certainly drop too if it contained derogs, hurts your overall CC util, or negatively impacts AAoA.

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Often, an underwriter for financing might omit those accounts, or ask you to remove them (like if you are getting a mortgage)

But WHILE rebuilding? Best tool I can think of to be honest... It 100 percent counts the same, and all factors of it come with it, such as util, AAoA ect ect

-scott

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Is this 100% accurate, that AU will help rebuilding credit., can someone else confirm? If this is true, I can be AU for many credit line, I never did it because I thought it didnt make a difference.