Monday, August 12, 2013

Adding An Authorized Credit Card User

Adding An Authorized Credit Card user increases the credit score for the added user still. At least, in my experience.

I added S.O, who had practically non-existent credit score, about six months ago to two of my credit cards. One of them was a Citi Platinum Dividend card and the other was a Citi Thank You card. It was easy to set up over the phone or online. All I had to give was his name, date of birth, and social security number.

I've done some research online about adding authorized users and whether if it would help their credit scores at all. What I found was not decisive. In fact, there was information online about how it doesn't help anymore since the credit card companies have caught on people doing this. I figured it wouldn't hurt to see if it would make a difference.

In my case, at least, my S.O.'s credit score, six months after I added him to two of my credit cards, his credit score is now 680, according to Equifax. That's not bad for someone whose credit score couldn't be found or established before. He is also able to qualify for a $500 Bank of America credit card recently, which he pays off each month with minimal use. Our plan is to take him off my credit cards once he establishes one year on his own Bank of America credit card. 

Our experience: adding him as an authorized user on my Citi credit cards worked. His credit score increased in a short time. We were surprised.

Has anyone had a different experience while adding an authorized user on your credit card with the goal of increasing that said person's credit score?

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