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does being added as an authorized user still help?


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like most everyone here I am trying to better my credit not only by cleaning off the negative but also by adding some positives to it. we recently asked my uncle if he would add us as an authorized user to "piggyback" his credit card use with our credit. he said that when he talked to his bank they told him that adding authorized users didn't affect their credit any more because of the people that were paying companies to receice the benefits of people with good credit. does anyone know if there is any truth to this or does it still appear on your credit? every article I pulled off the web says that it works but I can't find anything newer than 2008 so I don't know if this still applies

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Actually Authorized Users still work. I have a client right now that was added as an authorized user to their husbands Capital One card and it did give them a slight increase. I mean slight, they gained 7 points on Experian and 4 points on Transunion. The only down fall was that the Capital One card had only 2 years of history on it.

If you are going to use the Authorized User way try to find a family member with a long credit history. Preferably 10 years plus with good history and high credit limit.

There was talk about the mortgage industry and FICO not counting Authorized User accounts but, that hasn't been placed into affect yet.

If you go to CNN's website and click on personal finances it has some good stuff in there.

Hope I was able to add a little value.

Jeremy Hudson

H & I Credit Solutions

Edited by HICredit
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