Does adding my fiance as an authorized user on my credit cards hurt my credit?help her credit?....?

Question

NOW I WANT TO FIND OUT IF ADDING HER TO MY CREDIT CARDS WILL HURT MY CREDIT SCORE, AND HOW LONG DO I HAVE TO KEEP HER AS AN AUTHORIZED USER SO IT REFLECTS ON HER CREDIT, AND I TRIED TO ADD HER ON MY AMEX AND THEY DON'T ASK FOR SS# DOES THAT MATTER? I REALLY WANT TO HELP HER CAN YOU TELL ME A WAY THAT DOESN'T TAKE TOO LONG AND WON'T HURT MY CREDIT TNX

Answer 1

The rules have changed. Authorized users not longer get the benefit of the good credit.

Answer 2

well, just by me working at American Express--I could answer that. If you have a secondary card holder & depending on what kind of card you have, (Charge or line of credit) it could. Mostly on line of credit because out of the limit that is given to you, say per instance, $1000. If you go above 30% which is over $300, it affects your score. Brings it down. Amex Charge card doesn't affect your score unless you go past due over 90 days. So if you pay it off in full, nothing will happen & it'll go up. But just an authorized user is sort of like a manager you takes take of you when you can't take care of something on the card & it won't affect you score. All celebrities have an authorized account manger(AAM) or authorized agent(AA). Usually the (AAM) has as much power as you have on the card exept to cancel the account itself. So I would be pretty picky to who has that power. (AA) can only know info about you card like, balance due & stuff like that. It might work different for other companies but that's how it works at AMEX. & to your second part question, No! It will not affect the authorized user's credit score for squat!!! You gotta have a small balance on the card though. keep it below 30% & that will increase you score. Most important, pay on time!! if he has secondary card & runs up the card, it will only affect you. Your the primary & it reports under your social. Unless you give a tax id from you business.

Answer 3

Nope, in no way will adding her as an authorized user adversely effect your credit score. It will only positively impact her credit score if you add her social security number, it would do any good without that, so only add her to one that take her social security number. Her credit report will be updated with that account at the billing cycle that the typically reports to the bureaus.

Answer 4

As long as you pay your bills on time, it will be no different. if the account is paid properly, it is just making the account holders credit good. You could put ten people on your account (if the company would allow it) and it won`t affect THEIR credit, only yours.

PS...Beware. If you were to break up or something, she/they could run up thousandes of dollars of debt, and only YOU are responsible.

PSS....The best way to help someone establish credit is to co-sign for them a loan/credit account in THEIR name, and let THEM pay it off responsibly. Just remember, if they default, you are responsible.

Answer 5

It does not affect your finaces credit, and as long as the bills are paid on time, it helps your credit, but beware, there is a reason your fiance has bed credit, and that joint credit card may become a nightmare you can't wake up from.

Answer 6

You will be responsible for anything that she puts on the card not her. She has a free ride.