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Authorized User Success!

New Member

Authorized User Success!

Hello All,

Long time lurker, but this will be my first post. My credit is in very poor shape (Low 5's) but I've been doing research on tips for improvement. I recently learned about the potential benefits of authorized users  and decided to reach out to my significant other to her new american express card (2500 CL) and chase freedom card. (1500 CL). And I myself have a Capital One secured credit card with a high utilization percentage. I paid the balance on that card to zero and it will report at the end of the business day today 3/13/2018. BUT just the added American Express card increased my Experian score by 53 POINTS today!! 

 Very Excited to see what paying down my balance today and the posting of the Chase Card will do to my scores!

Message 1 of 7
6 REPLIES
Moderator

Re: Authorized User Success!


@Brendanmcflywrote:

Hello All,

Long time lurker, but this will be my first post. My credit is in very poor shape (Low 5's) but I've been doing research on tips for improvement. I recently learned about the potential benefits of authorized users  and decided to reach out to my significant other to her new american express card (2500 CL) and chase freedom card. (1500 CL). And I myself have a Capital One secured credit card with a high utilization percentage. I paid the balance on that card to zero and it will report at the end of the business day today 3/13/2018. BUT just the added American Express card increased my Experian score by 53 POINTS today!! 

 Very Excited to see what paying down my balance today and the posting of the Chase Card will do to my scores!


You need 3 to drive your Fico. As soon as you can you want to replace those with your own accounts. Nice going. Welcome to the board Smiley Happy


"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 2 of 7
New Member

Re: Authorized User Success!

Thank you, and hopefully there will be some change to the other two reporting agencies in the next few days!

Message 3 of 7
Established Contributor

Re: Authorized User Success!

Great to hear about your success, OP!

 

Keep it up and you'll be in the 700 club for real!!

 

Welcome to the boards!

~~~Rebuilding Score History~~~
Starting Ficos: EX 541, EQ 493, TU 523 (07/02/2016)
Latest Ficos: EX 659, EQ 696, TU 739 (02/24/2018)
1st Goal Ficos: EX 700, EQ 700, TU 750 (12/31/2018)
~~~Credit lines~~~~
BofA Platinum Plus: $2000
Capital One Platinum: $500
Discover It: $10,500
Chase Freedom Unlimited: $6400
Home Depot: $500
BofA Cash Rewards: $1500
Lowe's: $1000

My Credit Rebuild


Take the myFICO Fitness Challenge
Message 4 of 7

Re: Authorized User Success!

congratulations! i had no idea that your score can increase by becoming an authorized user. i should get on my fathers discover card!
Message 5 of 7
New Member

Re: Authorized User Success!

Update: Got excited about the changes and took your suggestions to heart. Applied for a capital one platinum visa (Unsecured) and was pre approved for a 300 dollar limit! After finishing the application Capital One informs you on what score they used for calculation and it was Experian WITH A SCORE OF 637!! So I went from 510 Exp. Earlier this week to 637 with just a few changes over the past month!

   

Message 6 of 7
Established Member

Re: Authorized User Success!

Good news to read. I know all situations are different, which is why you went up 53 points and I may not see such a rise due to other negatives on my report, but I added myself on my mother's new Chase Freedom Unlimited card of $4.5k CL and her new Amex Everyday card of $10k CL. Plus what I paid off this month on my CO'ed Cap1 card. I wish I can see 50+ point rise but I will take 20-30 point increase across the board if I can even get that.

 

Congrats.  

Message 7 of 7