A friend of mine told me that adding her 2 year outmoded son to her credit card account, will build his credit. Is this true? I be always below the impression that simply anyone a cardholder on someone elses account, does not build that cardholders credit. Thanks.
Answers: The singular way for that to be possible would be if she be going to add him as a mutual user, since authorized users or "piggybacking" is no longer recogized by the scoring system in command to build credit. And even then still, as a reciprocal applicant, you have to be 18 or over, so probability are that's unlikely to happen
why contained by the world would she try to build her 2 year old's credit? thats the most ridiculous thing ive ever hear!!
but to answer your question, i dont know why society have be saying that the directive has changed and you cant do that anymore because, im doing it and guess what? it DOES affect my credit win. Im listed as an authorized user on two of my husband's credit cards and i see my win fluctuating based on the balance. I dont have any of my own so i know its not my accounts that bring in my score variation. So yes, speaking from personal experience, as of right now, i am building credit by self listed as an authorized user.
That's exactly why that system no longer exists. In former times, you could add "authorized users" to your credit queue, and have them benefit from the cards revolving be a foil for, amount available and payment history. As an authorized user.in a minute, the card will still show up on that persons credit report, however it say "Authorized User", and that person will no longer receive the benefits on their credit as once be. That is crazy, you can destroy someone credit by using their identity but you can not build no ones credit by adding together them to your credit card account.
Smooth is incorrect on this one. Authorized users still count, as Fico 08 hasn't taken effect but and by all accounts, that may not be scheduled anytime soon. YOU RE LUCKY THEN IF YOU ADDED YOUR 2 YR OLD SON. BETTER CHECK UP THE AGE RESTRICTION?
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Answers: The singular way for that to be possible would be if she be going to add him as a mutual user, since authorized users or "piggybacking" is no longer recogized by the scoring system in command to build credit. And even then still, as a reciprocal applicant, you have to be 18 or over, so probability are that's unlikely to happen
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why contained by the world would she try to build her 2 year old's credit? thats the most ridiculous thing ive ever hear!!
but to answer your question, i dont know why society have be saying that the directive has changed and you cant do that anymore because, im doing it and guess what? it DOES affect my credit win. Im listed as an authorized user on two of my husband's credit cards and i see my win fluctuating based on the balance. I dont have any of my own so i know its not my accounts that bring in my score variation. So yes, speaking from personal experience, as of right now, i am building credit by self listed as an authorized user.
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That's exactly why that system no longer exists. In former times, you could add "authorized users" to your credit queue, and have them benefit from the cards revolving be a foil for, amount available and payment history. As an authorized user.in a minute, the card will still show up on that persons credit report, however it say "Authorized User", and that person will no longer receive the benefits on their credit as once be. That is crazy, you can destroy someone credit by using their identity but you can not build no ones credit by adding together them to your credit card account.
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Smooth is incorrect on this one. Authorized users still count, as Fico 08 hasn't taken effect but and by all accounts, that may not be scheduled anytime soon. YOU RE LUCKY THEN IF YOU ADDED YOUR 2 YR OLD SON. BETTER CHECK UP THE AGE RESTRICTION?
Resolved Questions: