Authorized User/Higher Score???

[SHANNA8102]

Just wanted to know if anyone knew if it is true that if someone with great pay history on a credit card adds you to their account as an authorized user, that it will boost your credit score??

Its a sears credit card??:confused:

[scorch]

Actually I think it does help raise the score of the authorized user. Although I have read somewhere that FICO may not continue to allow this, but I'm not sure when they would take that into affect.

[SHANNA8102]

hi thanks for the insight. my uncle added me to his Sears card as an attemt to raise my credit score.. so far nothing has happened yet, but it hasnt even been 30 days yet. I will let you know if it changes anything. I also read somewhere that fico was not going to allow it anymore. Hope i can get my score raised first! :p

[jjgross]

Originally Posted by SHANNA8102

hi thanks for the insight. my uncle added me to his Sears card as an attemt to raise my credit score.. so far nothing has happened yet, but it hasnt even been 30 days yet. I will let you know if it changes anything. I also read somewhere that fico was not going to allow it anymore. Hope i can get my score raised first! :p

The point is how would fico know if your not related to that person.Yes they had talked about it but decided to allow it

[SHANNA8102]

Oh Goody!! I hope it will go up really high! lol I am trying to do everything I can to repair my credit right now. Your right, they wont know if we are related! lol
Thanks

shanna

[mountaindews]

It does boost your score. When my ex-husband and I got together he put me on his cards and it seemed like over nght I had a great score. That was before the divorce! LOL

[chane]

Early last summer, FICO came out with this big announcement that in about 6 months they were going to adjust their algorithm to make it so that consumers would no longer benefit from being an authorized user.

However, just recently I read an article that said that they weren't going to do that anymore. But, I honestly don't remember if FICO announced that or if someone else was speculating.

Here's my theory of what really happened:

They didn't actually have a plan to do it, they had an idea to look into doing it. Once they looked into and discovered how much time and resources it was going to take, how inaccurate scores might become, and how badly they were pissing people off, they decided not to risk their whole business model and tossed the idea out.

Again, this is just my theory. I could be totally wrong. I really don't know if authorized users still count or if or when it will change. If I get new intel, I will post it here asap and I'm sure you will all do the same.

[SHANNA8102]

i did see a slight increase with my scores, im not sure if it was because of the new account (authorized user for sears) or because i disputed some inquiries and had 15 inquiries removed at one time

[TOCKCC]

I have top of the line credit so to help my son I added him to my credit card. He is now listed on 2 of the 3 reports.On one no improvement but on the other the score jumped 75 points right away.
Hopefully it will show up on the other report soon and the one that didn't move may jump in time.

[jjgross]

Originally Posted by TOCKCC

I have top of the line credit so to help my son I added him to my credit card. He is now listed on 2 of the 3 reports.On one no improvement but on the other the score jumped 75 points right away.
Hopefully it will show up on the other report soon and the one that didn't move may jump in time.

Yes, it does help. I raised my daughters score 60 points. Remember, if the person maxes his card it will drop your score.