Are there disadvantages for having positive authorized user accounts on your report?

[minnesotakent]

Are there disadvantages for having positive authorized user accounts on your report?

 

When applying for a credit card, do they take into account how many accounts someone is an AU on?

 

 

 

 

[shifter]

Seasoned lines can help with AAOA. FICO counts them for overall util purposes so large CLs can help with util. They are ignored by astute UWs on manual review however. Disadvantages? Not really.

[cv91915]

Chase will include both AU and solo cards opened in the past 24 months to determine if you qualify for a new Chase card that is subject to 5/24.

[TCBNow]

• Bump Influence Scroll Keeper V <3, 

What is a UW?

 

Also, I suggested to my sister do this for her 20 year old daughter to build her credit and she said she asked her bank about it and they "poopoo"ed it saying that since credit goes by social security number that it wouldn't affect her enough when it came to a mortgage.  Is this BS or what?  I'm sure they wanted to push her into getting a credit card from them. 

[cv91915]

30 minutes ago, TCBNow said:

• Bump Influence Scroll Keeper V <3, 

What is a UW?

 

Also, I suggested to my sister do this for her 20 year old daughter to build her credit and she said she asked her bank about it and they "poopoo"ed it saying that since credit goes by social security number that it wouldn't affect her enough when it came to a mortgage.  Is this BS or what?  I'm sure they wanted to push her into getting a credit card from them. 

 

If you're using a browser to access CB you can hover your mouse pointer over an underlined word/term to see its definition.

 

UW=underwriter.

 

SSN is only one of several pieces of data that's used to match an account with someone's credit report, and it isn't even required.  

[MrsWinston]

47 minutes ago, TCBNow said:

• Bump Influence Scroll Keeper V <3, 

What is a UW?

 

Also, I suggested to my sister do this for her 20 year old daughter to build her credit and she said she asked her bank about it and they "poopoo"ed it saying that since credit goes by social security number that it wouldn't affect her enough when it came to a mortgage.  Is this BS or what?  I'm sure they wanted to push her into getting a credit card from them. 

My Mom added me to her Chase CC, they didn’t ask for my social but it is reporting to all 3 CRAs. And my FICO went up by 32 points. As someone here stated I think it’s because the card has a high limit with a very low balance. 

[shifter]

most people who work at banks (or the post office, or Hooters, or Wal-Mart) know very little about credit. best not to listen to them.

[TCBNow]

Thanks, everyone! That's what I thought about what the bank said.  I think its also in their best interest to have my sister open a NEW card.  

[Konrad2012]

On 5/12/2018 at 12:50 PM, shifter said:

Seasoned lines can help with AAOA. FICO counts them for overall util purposes so large CLs can help with util. They are ignored by astute UWs on manual review however. Disadvantages? Not really.

 

The only disadvantages are:

 

1.  If the primary allows balances to report.

 

2. AMEX AU cards show up as new accounts which can (will) drag down AAOA

[policebox]

On 8/1/2018 at 11:43 AM, Konrad2012 said:

 

The only disadvantages are:

 

1.  If the primary allows balances to report.

 

2. AMEX AU cards show up as new accounts which can (will) drag down AAOA

 

I'm an AU on DW's Amex Every Day Credit Card. If I ever got one of my own cards from them, does AMEX still backdate your account age like they did in the past?

[Konrad2012]

8 hours ago, policebox said:

 

I'm an AU on DW's Amex Every Day Credit Card. If I ever got one of my own cards from them, does AMEX still backdate your account age like they did in the past?

No