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Originally Posted by neekap
j8ear: Actually authorized user doesn't mean anything when it comes to credit scores. Authorized users have no financial responsibility for the account, just permission to use it, and therefore it will only show up on their credit report as an authorized user. It's not a positive or a negative mark on the credit report. I found out all about this when I purchased my home and discovered that my parent's had a couple store credit cards that I was an authorized user on and that was the first I knewa bout it.
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I have actually watched (pulled reports daily from Equifax) my FICO score increase from 635 to 722 as soon as I was added as an authorized user.
In fact, I have actually watched my FICO score vary significantly when disputing a tradeline, and then it being verified, disputed again, and removed. I have seen scores change with balance reductions, new debt obligations, new inquiries, and when inquiries fall off.
My credit history went from 3 years to 15 years, as a result, and still had zero negative marks on it, but now the perfect payment history stretched back 15 years. My open account limits went from 5000 (with a 1000 balance) to 55000 (with still only 1000 of balances.)
It absolutely works. I secured a fixed 5.875% apr mortgage and 1.9% vehicle financing as a result. Rates reserved for those with the best credit.
-bear