Authorized User - does it help rebuild credit?

[apathetic]

After being denied for 4 credit cards (2 unsecured, 2 secured), I was wondering if this would be a feasible idea to help rebuild credit?

My wife has a few cards all paid in full monthly, and I was wondering if this would improve my score even slightly if I was added as an authorized user?

Thanks for any replies.

[sassiebaz]

It is my understanding (after working for a major CC compnay) that your scores are no longer influenced by any accounts that you are an AU/AB on.

[df04527]

It depends on which version of software the lenders uses to pull your score - FICO 08 is supposed to not count those AU tradelines. Not all industries use FICO 08 even though it's been around for quite some time. It's a major effort to get "everyone" using the same base. So because of that - I would say a resounding yes.

[HHM]

I suppose it couldn't hurt, but again, most scoring models are moving away from counting an AU card in the score, so it is of little benefit, if any.

[malf1204]

I am an au on my wifes cap 1 and discover account and they both report to my credit reports and I can see no difference in the way they are reported versus other accounts. Perhaps there is some special coding that they use but the account appear as though I was the primary.

[HHM]

I am an au on my wifes cap 1 and discover account and they both report to my credit reports and I can see no difference in the way they are reported versus other accounts. Perhaps there is some special coding that they use but the account appear as though I was the primary.

The issue is not how they are "reported", unless they don't specifically state "Authorized User". I know that my wife's AMEX shows on my credit report and it clearly states, "Authorized User". In any event, it is not how the AU's accounts are reported that is the issue, it is how they are "scored." Assuming the software (which I am sure it does) detects the account as an AU account, the account and account history is discounted or removed for purposes of calculating a numerical score.

[sassiebaz]

Yes, any account you are authorized to use will show on your credit report, but will not be factored into your score....

[IBroke]

Now what about joint accounts? Legally, that is something else than an account with an authorized user - so how are these accounts handled?

[Logan]

I did quite a bit of research a while back on this subject and determined that based on everything I read that you will benefit as an AU. Can't get into it now but you can search back to some articles I posted.

Logan

[mountanddo]

I did quite a

What???!!!!! You are killing me here. I have to know what you did! LOL

[sassiebaz]

Ok, so here si what I uncovered since my response yesterday: As of 2008, the FICO 08 scoring had changed to no longer score an AU, however it has since been modified to continue scoring an AU. But, it is being used less frequently by fewer lenders. This is straight from FICO.com. I worked for a CC company from 2008-2009 and this is where I learned that our company would not be scoring an AU on that particular account. I think many lenders followed suit. Chances are slim it seems but it can happen.

[apathetic]

Thank you for all the replies. Seems like this would be a fruitless effort.

[ronsetoe]

My wife is on her mothers Amex, Chase and US Bank CC with credit limits of 89,000 and a balance that is paid in full every month. Her score with TU is 716 and Experian is 700. We were discharged on 7/24 and since then her score has risen almost 40 points. It does not show as on AU in the reports, but that is what she is. My score has done nothing since discharge but I just got my first secured card from Capital One. It has a $200 limit and the deposit was only $49.
Maybe my wife got lucky some how but her mothers cards have really helped her score. Good luck on what ever you do!

[sassiebaz]

My wife is on her mothers Amex, Chase and US Bank CC with credit limits of 89,000 and a balance that is paid in full every month. Her score with TU is 716 and Experian is 700. We were discharged on 7/24 and since then her score has risen almost 40 points. It does not show as on AU in the reports, but that is what she is. My score has done nothing since discharge but I just got my first secured card from Capital One. It has a $200 limit and the deposit was only $49.
Maybe my wife got lucky some how but her mothers cards have really helped her score. Good luck on what ever you do!

So, see if your mother in law will kindly add YOU to one of her accounts as an AU and see if that helps your score....Just a thought!

[Logan]

My wife is on her mothers Amex, Chase and US Bank CC with credit limits of 89,000 and a balance that is paid in full every month. Her score with TU is 716 and Experian is 700. We were discharged on 7/24 and since then her score has risen almost 40 points. It does not show as on AU in the reports, but that is what she is. My score has done nothing since discharge but I just got my first secured card from Capital One. It has a $200 limit and the deposit was only $49.
Maybe my wife got lucky some how but her mothers cards have really helped her score. Good luck on what ever you do!

My wife (no bk) was going to get an AMEX and add me as an authorized user but AMEX would not even consider adding an AU who had a bk so she ended up not getting the card. I wonder how your wife was able to be an AU?