So really ? - Authorized User...

[rocktavius]

I met a guy about 1 month ago who has decent credit and no late payments on 2 credit cards. Both having a $10k spending limit.

He said he would be willing to put me on as an authorized user for both cards to help me out.

my concerns are this:

1. Can this hurt me in ANYWAY ???? !!!! ???

(past, present, future)

2. Can I be removed as an authorized user if want to?

3. I heard something about after September 2007 this way of adding positive tradelines on your credit is not going to work. I this true?

-Rock

[willingtocope]

Yes, you can be hurt. Theoretically, if the primary user defaults...AU's are not supposed to be hassled and / or penalized...but...creditors and CA don't always pay attention to "supposed to"s.

And, once it's gone bad...its really tough to fix...

And...pretty soon now, the AU effect on FICO scores will disappear.

[isislc]

3. I heard something about after September 2007 this way of adding positive tradelines on your credit is not going to work. I this true?

-Rock

Willingtocope already answered the first 2 questions. As for this one, EQ is no longer recognizing AUs. I'm on someone's account and the EQ reporting is now greyed out.

[Sultan]

Typically if you dispute an AU account they will delete it or remove you within a couple of days.

The change in AU rules has been delayed there is no official word as to the date of when the new rules will take effect.

For now AU accounts are still being factored, if you trust your friend and they have & maintain little to no utilization I'd say go for it, once they report you should see a boost and have a brief window to apply for a some high limit cards of your own, provided the rest of your credit is in good shape, etc.