How will adding my husband as an authorized user affect my credit scores?

[Anonymous]

Hello everyone,

I wanted to thank you all for the guidance, support, information, and hope that you offer to all of the members here.  I have learned so much just reading through posts the last few months.  I did have a question that I haven't really been able to find the answer to and I was wondering if someone could shed some light on the situation:

How would adding my husband as an authorized user to two of my credit cards affect my score?  The last time we pulled our scores (they were not fico as I had not yet found this site and wasn't aware of the difference), his were close to 600 and mine were in the high 600s.  We are both in the process of rebuilding and I know that his scores would probably benefit from being added to my accounts, but how would mine be affected?  They're not very high limit cards - $1750 and $1000 - but I would like to help his process along as he seems to be having more trouble rebuilding.

Thanks in advance for any input.

[lpayton]

As far as I know, it wont hurt you to ad him.  However, I would be careful doing so, as you may hurt HIM...what is the uitlization on the accounts? If it is low (less than 10%) and there are no lates, then I would do it.  If not, you could negatively impact him because he will inherit your history...the good and the bad.

Try getting him a Capital One Secured MasterCard.  The credit limit will only be $200, but if he uses it responsibly it can help him, and it will report monthly to all the bureaus.  I just got one, still waiting for it in the mail.  I intend to use it for my utilities each month, pay off all but $10, rinse/repeat.  Someone yesterday said that a $200 credit card was "useless" however i disagree...if it is used properly it doesnt matter what the limit is, it can still drastically help if paying on time each month and keeping utilization low.

Oh, also, depending on his credit he will have to make a deposit of $49, $99, or $149 before they will activate and send.

[Anonymous]

Thanks so much for the quick reply.

On the card with the $1,750 limit, the balance is zero.  On the $1,000 card, the balance is currently $200 (but will actually be paid down to about $75 on Friday).  Never any lates and I sometimes pay twice per month.

He currently has a secured card with Capital One that he's had for about three months, so I know that'll continue to help raise his scores.

So it sounds like adding him as an authorized user shouldn't reflect negatively on me as long as he uses them properly?

[Booner72]

It won't affect you at all.  I was hesitant to add DH as I'm in the middle of a mortgage but I did it anyway and no affect.

[LIGHTNIN]

Hi AlmostHome78,

You have 2 CC's, I would suggest using the CC that is the oldest, to help with his AAoA (Average Age of Accounts).

Or add him on to both.Make sure the CC's report to the CRA's.

Keep the Reporting balance under 9 or 10%, do not use the balance due.

When starting out to repair credit,as long as you have the funds, it's nice to use a Credit Monitoring Service (CMS).

Here's a thread for more info... CMS Guide That way you know what date the CCC report and what they are reporting.

If you choose not to use a CMS., you can always call the CCC's for that info.

[Anonymous]

Thanks so much.