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Plight · Posted: Fri May 16, 2008 8:41 am Subject: Adding myself to wifes lines of credit

long story short - my credit is horrendous but my wifes is damn near pristine.

To help our efforts in repairing my credit, we were going to add myself to her 3 credit cards and 1 bank line of credit.

My question is: When I am added, what exactly will show up on the credit report? Will it show all the history or just starting from the point I am added to her account?

Posted: Fri May 16, 2008 9:21 am Subject:

FICO either recently stopped, or is going to stop, using "Authorized User" on accounts as a factor in reporting and figuring scores... so you might be added to this account for nothing. I'd research this if were you first. Search Google for "FICO scoring changes"

Posted: Fri May 16, 2008 6:41 pm Subject:

I didn't know that, that is good to know.

Posted: Sat May 17, 2008 6:40 am Subject:

Yeah, I looked into it more later yesterday, and supposedly, this is supposed to be fully in place by mid to late summer. It will hurt those whose only form of credit is being an authorized user on someone's account, such as college students and housewives. It will help me though, because about 4 years ago, my mom took out a card, listed me as an AU, and defaulted. So, I'm looking forward to that item coming off my report soon! Smile

Guest · Posted: Mon Jun 30, 2008 10:37 am Subject:

So if you are already an authorized user, this will not show up anymore?

Posted: Wed Jul 02, 2008 5:54 am Subject:

This will still show up on your CR's but FICO '08 will not factor AU accounts into your score. However, I do not beleive that FICO '08 is in full implementation as of yet.

Posted: Wed Jul 02, 2008 10:08 am Subject:

adding my husband to my lines HAVE showed up on his credit reports, so now you are saying they will not? Does anyone out there know if there is something we should do NOW to keep him on my lines "officially"?

Posted: Wed Jul 02, 2008 11:16 am Subject:

I did not say they wouldn't show up. They will show up on his credit reports as an Authorized User account but FICO '08 does not factor AU's into their FICO scoring model. They will stay on his reports as long as you leave him as an AU. With the new scoring algorithm, he would have to open accounts as the primary in order for them to impact his FICO score. Also, keep in mind that there are like 19 different scoring models depending on the type of lender that is requesting the scores. New revolving accounts will raise the Vantage scoring model, the "sucker score" that credit card companies look at, but only after time and good payment history.

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