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Would being an authorized user on an account raise score?


beeboah
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My wife has no credit history and mine is in the process of repair.

If we could get her a credit card, and she put me on as an authorized user, would that potentially raise my score in lieu of me trying to go out and get my own credit cards?

(I have already "messed up" with most of the starter credit cards so I was thinking of going this route instead)

Thanks

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If this is going to be a new credit card account, it will take some time to build some history(probably at least 6 months) to where you will see any increase in your scores. In fact, with a new account on you CRs, your scores could drop until some good payment history is built up.

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I'd like to piggyback on this if you dont mind. Upon discharge my folks have agreed to put my wife and I as AU's on their American Express account. They've been cardholders for 14 years and never paid late. Their limit is $55,000 and they're only using $10,000 right now.

Upon discharge can I expect to see a real help from this or do I need to go after the bad TL's first to make a real impact. My Pops FICO is 820. To me that's just freaking amazing.

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StevePJC, I think I read somewhere here that as an AU, you get the whole entire history of the account. If this is true, it would seem like it would be an immediate help to you. I would go ahead and do it(if the above is true), thus you would be attaining a positive TL with a significant amount of history. Don't know anything about discharges, so I'm not sure if it would cancel out the the new positive TL. Seems like it wouldn't, but I don't have a clue. Go after those bad TLs, regardless.

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I just doublechecked. 14 years. Average balance is $10,000. Limit is $55,000. Said as long as I didn't get a card (I dont blame him....) he would be happy to add me to all of his cards. He monitors his reports monthly and his middle average is 820 with (I think he said) Equifax being 850. The man has never paid a bill late in his life. Where did I go wrong!!! ;P Oh yeah losing my job four years ago. That's where.

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StevePJC, too bad you can't use your dad's scores. Nice scores! It's great that your dad is offering his help. If he is going to allow you to be an AU on all of his cards(watch your utilization%), that is great. That will help you out alot.

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Being added as an AU is a great idea when you are rebuilding as it shows a long standing positive line to help even out the rough spots. however, make sure you continue to work on getting the baddies off. Those in combonation should help your score by leaps and bounds. :) Good Luck!

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