cancel
Showing results for 
Search instead for 
Did you mean: 

Authorized User still works?

Lj2815
Established Member

Authorized User still works?

I've searched all over this board and can't find the answer.

Does being added as an authorized user boost your fico score? If so what credit cards work for backdating to boost your AaoA and increase your CL?

I've found that Amex doesn't backdate anymore

Also on myfico it states that authorzed user accounts don't affect your fico score, is this correct?

Ps: I have 2 family members with large credit profiles which would be willing to add me to old accounts with large limit and low utilization , just trying to figure out if it’s worth it and if so which cards work the best .
Thanks
CapOne Quicksilver 7800 - Midflorida 1000 - Discover IT 2100
Starting FICO 8/27/18 - Eq: 551 / Tu: 543 / Ex:552
2/22/19 - Eq: 612 / Tu: 626 / Ex: 631
10/12/20 - Eq: 669/ Tu: 687 / Ex: 690
Message 1 of 11
10 REPLIES 10
gdale6
Moderator

Re: Authorized User still works?


@Lj2815 wrote:

I've searched all over this board and can't find the answer.

 

Does being added as an authorized user boost your fico score? It can under the right conditions, older account with little to no balance.

 

If so what credit cards work for backdating to boost your AaoA and increase your CL?

 

I've found that Amex doesn't backdate anymore. 

 

Also on myfico is states that authorzed user accounts don't affect your fico score, is this correct? Not true anymore it was at one time.

 

Thanks


 

Message 2 of 11
Lj2815
Established Member

Re: Authorized User still works?

Any idea which cards will backdate and report to the authorized users ? I know Amex doesn’t backdate from all I’ve read on the forums.
CapOne Quicksilver 7800 - Midflorida 1000 - Discover IT 2100
Starting FICO 8/27/18 - Eq: 551 / Tu: 543 / Ex:552
2/22/19 - Eq: 612 / Tu: 626 / Ex: 631
10/12/20 - Eq: 669/ Tu: 687 / Ex: 690
Message 3 of 11
gdale6
Moderator

Re: Authorized User still works?


@Lj2815 wrote:
Any idea which cards will backdate and report to the authorized users ? I know Amex doesn’t backdate from all I’ve read on the forums.

Typically you have to live at the address of the AU in order for it to report. Chase & Cap-1 will report. Cap-1 did ask for more info on AU and you dont have to live at same address for it to show up. No one backdates new accounts anymore but with an AU you inherit all the attributes of the account including the opening date of the account.

Message 4 of 11
Ralu
Regular Contributor

Re: Authorized User still works?

@gdale6 I added DH to my Amex last year, sometime after my 1st statement cut and they didn't even give him that extra month... My open date was Oct 6th and his acct open date is Nov 8th.




Message 5 of 11
VoltaicShock
Established Contributor

Re: Authorized User still works?


@Lj2815 wrote:
Any idea which cards will backdate and report to the authorized users ? I know Amex doesn’t backdate from all I’ve read on the forums.

I am a AU on two BOA cards and they back dated me.



FICOBeginning (6/2017)Current
Equifax636707
Transunion627725

Experian623726
Message 6 of 11
WD2005
Contributor

Re: Authorized User still works?

I added both my son and my wife to my Navy Fed and Discover cards. Navy Fed reports for both but only Discover reports my wife. I've asked several times for Discover to report my son as an AU and they say they will but it never happens.

Message 7 of 11
Queen_Etherea
Valued Contributor

Re: Authorized User still works?


@Lj2815 wrote:
I've searched all over this board and can't find the answer.

Does being added as an authorized user boost your fico score? If so what credit cards work for backdating to boost your AaoA and increase your CL?

I've found that Amex doesn't backdate anymore

Also on myfico it states that authorzed user accounts don't affect your fico score, is this correct?

Ps: I have 2 family members with large credit profiles which would be willing to add me to old accounts with large limit and low utilization , just trying to figure out if it’s worth it and if so which cards work the best .
Thanks

I don't know about helping, but when I was an AU on my dad's account, it was certainly hurting my scores. He had used $15,000 used on a $16,000 limit and it was showing my utilization at 94%. I asked him to remove me and then a few months later had to dispute the account to have it removed from my reports. As soon as it dropped off my report, my scores shot up about 20 points on each CRA. I would assume the opposite would be true as well.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 8 of 11
bestchoiceglobal
Contributor

Re: Authorized User still works?

Wells Fargo’s website suggests being added as an AU to rebuild credit and states something about them reporting it all. I was going to ask my bf to put me on his WF card.
Message 9 of 11
RobertEG
Legendary Contributor

Re: Authorized User still works?

AUs still "work" in the sense that if they are reported to the CRA and the FICO algorithm includes them in scoring, they can affect your three-digit resulting score.

 

However, an inherent effect of having an AU account included in your scoring is that the resulting score is necessarily no longer reflectiive of a risk assessment of only your own credit history.

Creditors know this, and if they do a manual review and see the presence of one or more AU accounts,they are aware that the score they are receiving is not an evaluation of only your own credit history,and thus can choose to disregard or give less weight to the score in their credit determination.

If the requested credit is substantial, such as for a mortgage, some creditors will routinely, as part of their underwriting process, request that you remove the AU account prior to their final lending decision.

 

If a creditor does not do a manual review of your credit report, which is often the case when you are building or rebuilding and applying for relatively low amounts of credit or for secured cards, then if an AU improves your score, it can be a great rebuilding tool.

 

However, once you move on to higher levels of unsecured credit, where chances of a manual review are high, it might be time to remove the AU accounts, and thus ensure that a prospective creditor gets a "real" score.

Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.