shygal
03-31-2005, 04:04 AM
I have read in a book that to help rebuild your credit after filing Bk , you can ask someone with excellent credit to add you on to their account as a authorized user. Their great spending habits and their great paying habits will reflect on YOUR credit report! But also, if they have anything negative come up at some time THAT too will show up on your report! Has anyone done thisafter Bk??Does it really work?? You assume absolutely no liability to that persons debt... you are just added on to the account as a user nothing more!
I have read in a book that to help rebuild your credit after filing Bk , you can ask someone with excellent credit to add you on to their account as a authorized user. Their great spending habits and their great paying habits will reflect on YOUR credit report! But also, if they have anything negative come up at some time THAT too will show up on your report! Has anyone done thisafter Bk??Does it really work?? You assume absolutely no liability to that persons debt... you are just added on to the account as a user nothing more!
The concept behind it is realistic. But all the information you presented isn't accurate. Most creditors require authorized users, and or co-applicants to have credit worthiness. However, some creditors will still issued an authorized user card to an individual with bad credit, but the cards typically won't assist you in rebuilding your credit - because the authorized user status doesnt get reported to your credit report.
-Todd
Unless the person with the good credit is your spouse, that won't really work because it won't get reported on your credit report.
