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Autorized User Q's???


one5oh2nv
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I read that becoming an AU on an old account can help quite a bit. Itll help me out cause i currently have no accounts reporting positive. My question is do you get a new TL??

And with fico 08 coming soon will it benefit me to go ahead an do this now??

Is there any fee's that go along with becoming an AU??

Also would it benifit me more to make it a joint acct or do the pull your cr for that??

Nick

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I read that becoming an AU on an old account can help quite a bit. Itll help me out cause i currently have no accounts reporting positive. My question is do you get a new TL??

And with fico 08 coming soon will it benefit me to go ahead an do this now??

Is there any fee's that go along with becoming an AU??

Also would it benifit me more to make it a joint acct or do the pull your cr for that??

Nick

1) Yes you get a new TL as an AU but you need to go through the process of sumitting information to the CC company that the card is under. The person adding you on, needs to request a form for your personal information to be added to the account. If you don't fill out this form with your SS number, it will not show up on your CR.

2) Since Fico 08 has been delayed, then yes.

3) There are no fees involved with becoming an AU except for the cost of a stamp and envelop to mail back the identity confirmation form.

4) A joint account would make BOTH people responsible for the account and would involve a hard pull on both CRs. As an AU, if the other person screws up the account you can dispute it and have yourself removed from liability and doesn't involve a hard pull from the CR of the AU.

Hope this helps.

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Thank you!!

I have another question now when you say they do a hard pull what exactly do you mean?? Will they decide if i can go on as a joint after the look or what happens??

When is fico 08 delayed untill??

Thanks again,

Nick

Hard pulls are inquiries that others can see, so they know you're seeking credit and they affect your credit score. If you want to be a joint user then, yeah, presumably after they do the pull the CC company will decide if you can be one.

As far as FICO '08, no one seems to know when it will go into effect. I got my dad to put me on two of his old, high limit, low usage credit cards. It really helped my credit scores. TU went up 50 points and EX went up 25 points. EQ is still not reporting it. I almost didn't ask my dad because of the whole FICO '08 situation, but then I decided to go ahead and do it. I'm glad that I did.8]

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so along with getting a new tl do you get past history as well??

Yepper, those two TLs show that they were started in 1989 and 1985 respectively and show a lovely 24 months of perfect, on time payments (the last 24 months is what shows on the CRs). I love my daddy.xxheartxx

I hope some day my credit will be as awesome as his is.

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