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Authorized user - different last name, different addredd

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Authorized user - different last name, different addredd

My sister is adding me as an authorized user on a couple of solid accounts as we are moving back to the united states and are starting pretty much from scratch credit-wise with the exception of an old collections account. I've read that fico scores dont really consider authorized user accounts for non-family members. How can I make sure that the model "knows" that this is my sister?

Right now, I have no score across all three credit reports. What can I expect my score to be with 3 accounts at 15k, 25k, 17k limits and each below 20% utilization with no late payments?

Finally, will these accounts begin reporting and affecting my score immediately or will it take 6 months?
Message 1 of 5
4 REPLIES 4
New Member

Re: Authorized user - different last name, different addredd

The older fico scores count in all AU while the new ones do not count in even family members. Fico claims that they do count in family members but the facts show different. (bad luck on most credit cards- good luck on a mortgage loan)

 

What your score will be depends on how old the cards are not on what the credit limits are.

 

THe affect will be as soon as the cards show up on your credit report (usually happens on the credit cards statement print date)

 

Hope this helps 

Message 2 of 5
Valued Contributor

Re: Authorized user - different last name, different addredd


@marauder1314 wrote:
My sister is adding me as an authorized user on a couple of solid accounts as we are moving back to the united states and are starting pretty much from scratch credit-wise with the exception of an old collections account. I've read that fico scores dont really consider authorized user accounts for non-family members. How can I make sure that the model "knows" that this is my sister?

Right now, I have no score across all three credit reports. What can I expect my score to be with 3 accounts at 15k, 25k, 17k limits and each below 20% utilization with no late payments?

Finally, will these accounts begin reporting and affecting my score immediately or will it take 6 months?

Welcome to My Fico.. welcomewave (1).gif

 

If you don't already have a generated Fico Score, it could take some time for the AU accounts to help you obtain a score. 

I have read it can take 6 months for the score to show up. 

The age of the accounts will be a factor as well as utilization. Optimally the uti should be under 10%.

I don't know that there is any difference for an AU benefit for a family member vs non- family. 

 

You might seriously consider opening a secured card as I'm unsure if an AU account alone will generate a score for you.

I'm sure somebody around here knows for certain. 

 

Good Luck! 




Message 3 of 5
Moderator Emeritus

Re: Authorized user - different last name, different addredd

To clarify some things:

Older models count AU’s absolutely to Sam’s point.

FICO 8 may or may not as a result of their anti-abuse algorithm and nobody, and I mean nobody, knows exactly how that works here.

Anecdotally we have seen some people with very different name information still have AU’s being counted, and we have had some who presumably should be counted that weren’t.

It isn’t all or nothing, but the abuse algorithm isn’t published.

AU’s like any other change when they land on the file if they factor, they factor. In this case assuming the full trade line information is carried over, if there is more than six months history and recent activity on any of them, you generate a score immediately.

That all said lenders will absolutely discount AU’s if they so choose on an underwriting decision, so the score isn’t going to be the same as mine for example with a bunch of my own personal history.

Might help score in your case though depends on how old those trades are, but it won’t necessarily help in all cases. Do establish your own accounts ASAP after they show up.



        
Message 4 of 5
New Member

Re: Authorized user - different last name, different addredd

Thanks for the insight everyone!

To further clarify:

1) the accounts are all between 5 and 12 years old.

2) I'm planning on getting my own accounts, too.

3) I was hoping I might be able to avoid relying entirely on secured cards if I had a boost from my sister's accounts.

4) I'm looking at homepartners and a couple of local programs as a means to get a lease/purchase jome and while they don't have high credit standards by any means, they do require that customers have a median score of at least 580. No score doesn't work for them - which seems like a missed opportunity on their part, but whatever. I don't get the impression that it matters which accounts are driving the score for them.

Any further thoughts wiyh the new information are welcome.
Message 5 of 5
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