Authorized User the More the Better?

[OmarGB9]

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@icloud987 wrote:

Thank you for your advice.

As far as diversity, I currently have CC and Student loans. I can't think of anything else to add, I am not ready to buy a house yet. Do you recommend anything else that is beneficial for rebuilding and I can get as a student and low 600 scores?

I remember someone in the forum told me a student loan is an installment loan, and I do plan to pay it down monthly. 

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No, as mentioned above, all you can do is just give it time. You have a good credit mix, and yes student loans count as an installment.

[HowDoesThisAllWork]

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@icloud987 wrote:

Hi,

I have settled all my debts with the help of everyone's advice, thank you, everyone.

I have one question about rebuilding.

I got 3 credit cards of my own, 2 are secured cards: capital one, and open sky, the other one was unsecured cards from my past (it was never closed ).

I took out some student loan as my installment loan and play to pay the full monthly payment on it just to help me rebuild, this is the only debt currently . 

My SO is willing to add me to her credit cards as AU, she's added me on her 3 credit cards so far, would it be beneficial if she adds me on more cards as AU ? Or there is no need for adding me to more cards?

(Her utilization of all her cards is very low and she pays it off monthly. )

My current score is  613 with 3 credit bureau. My goal is to get to a decent/good score in 20 months to buy a house.

If there is anything else I should be doing to serve this purpose better, please advise.

Thanks. 

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If the purpose of this question is to prepare you for purchasing a home, have you asked in the Mortgage section?  FICO 5/4/2 scores are a tad bit different from FICO8 scores.

FICO 5/4/2 scores are VERY SENSITIVE to the following:

1.  Recent Activity (both in terms of inquiries and new accounts....and "recent" typically means "12 months" in FICO8 but typically means "18 months" in FICO 5/4/2).

2.  Utilization

3.  Accounts with Balances  (this is where AZEO - all zero except one - can really help you).

If I might, I suggest that you spend some time in the Mortgage forum as well as this one.  Just be clear in both posts that you have a post in "Credit Rebuild" and a post in "Mortgages" (so that everyone knows.....maybe include a link in each post 'to the other post'?  I do not know if that creates any problems for you.  Can someone offer advice on that?  Now that I read this outloud, I am sure that having two posts on essentially the same thing is frowned upon.....so what do we do here?).

[icloud987]

Thank you so much, your reply is very enlightening. I didn't notice there was a mortgage forum. I will check that one out. I didn't get to spend much time learning on the forum, my coursework has been very heavy, glad you told me about the difference in Fico Score.