Authorized user, owner's credit age an advantage, but...

Authorized user, owner's credit age an advantage, but...
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#1

But what credit card would give the same “credit age” advantage to the user too?

My brother has a few credit cards and he has a very good credit score, but now we research which of his CCs would be best for me as an authorized user. Meaning, which credit card would take into consideration the credit’s age for me also? Credit cards would be: US Bank, American Express, Chase, Synchrony, Capital One…

Anyone has an answer to that?

Thanks!
Lao

PS. This is my 1st post on the forum. :slight_smile:


#2

Hi Lao and welcome to the forums!

The simple answer is, which credit card has he had the longest and used pretty lightly? (Meaning he hasn’t charged close to the credit limits on it often). That’s a good one to add yourself as an authorized user.

Here’s more information on authorized user status and other ways to build your credit.

Good luck and ask us more questions!
amrita


#3

Thanks, Amrita!

Questions: would that older credit of his make my credit score boost as well right from the start? Is the length of that account going to be reflected on my report, as well? For instance, if he had a credit card account open for 10 years and adds me as an additional user, would my account show as brand new on my report, or will it show as 10 years old as well?


#4

Hi Lao,

Yes the account will show up on your report the way it does on your brother’s report, including the length of the account.

Amrita


#5

Well, that’s good news, which I couldn’t find searching on Google.

Thanks, Amrita!


#6

Hey @Lao_mayer, let us know how your score benefits. If you have a thin file, the authorized user effect can be pretty big.

I added my college-age daughter as an authorized user on a credit card I’d had for 17 years. She gained 85 credit score points in one month (as soon as the new authorized user status hit her credit reports).

Authorized usership is a great way to help trusted family members get started with credit and establish or build their standing.


#7

My brother has an 18 year old credit card and as I said, he has a very good report.

Being new to this system (I arrived on August 18), there are some things I don’t understand (or hardly agree with how they are). You have to get a credit, to spend the bank’s money and return them, only to raise your credit score.

For instance: I have enough money to buy a used car around 10k, but the better way to go is to finance. Only to get some credit score. :frowning:


#8

Hi Lao,

Yes it can be confusing to navigate the financial system here. And credit scoring was built with lenders in mind, not consumers, so that’s why the way it works doesn’t always make sense for us.

We have a collection of articles about how to navigate different financial decisions in America. Hope you find it useful! As always, please come back and ask more questions!

Amrita