Question about authorized user on credit card?

Question

I have a lower credit score that I am trying to build up. I just had my mom add me as a authorized user on one of her credit cards. Would it raise my score to have another person or 2 add me also, or would it look like too much on my record? Would it up my score even more though if I get more added? (They have excellant credit)

Answer 1

Once again people are uninformed.

Yes it would help if you are named as a authorized user on someone elses good credit card the next time the credit bureaus update their credit history shows on your credit report. This is called "Piggybacking".

And the more accounts you add the better. People have raised their scores by over 150-points in one month doing this. I know I have been a authorized user on my Mom's Discover card for over 23-years and I check my credit every 6-months and it's always there.

Just do it soon because in September it will be illegal but by then the credit history will already show on your bureau.

Answer 2

The three major credit reporting firms are now on to this scam, and are modifying their computerized rating systems to no longer improve anyone's credit score based upon being an 'authorized user' on another's account.

Answer 3

Authorized user simply means the account holder gives you permission to use their card, so if there is any questions later it is clear you had the right to do so and the person who authorized you is responsible for the charge. It in no way affects your personal credit rating or history, good or bad - it's not your account.

Answer 4

Anything you do that shows your ability to pay on time and a history of such payments helps your score.

Answer 5

It is not going to effect your credit in anyway. You have to be on the application in order for the credit good or bad to be yours.